NFTs and the Simple Fabriik Protocol for Tokens (SFP)

Mar 10, 2021 | NFTs

Why NFTs are hot property?

Digitization isn’t what it used to be. In the past, it often meant that infinite copies of one thing could be made or purchased. The introduction of Non-Fungible Tokens (NFTs) has created the ability to securely digitize a product and transform it into something truly special and collectible. With each digital collectible asset being authenticated and digitally verified, virtual intellectual property can be fully protected. This means that property rights may be distributed with instant global distribution. Couple this with the ability to translate rarity to a digital platform, along with lower operating costs, and the collectible industry is on the cusp of being totally disrupted.

What are NFTs?

NFTs are exploding in growth with the most popular NFTs as collectibles, sports cards, art, video game tokens and digital clothing. NFTs are unique blockchain-based digital assets that can represent almost anything tangible or intangible. Because each token is unique and cannot be replicated, each NFT is digitally scarce meaning there are only so many available.


The following criteria offer a simple way to determine whether a token is classified as an NFT.

NFTs are:

  1. Indivisible — NFTs cannot be split into smaller pieces.
  2. Irreplaceable– NFTs are unique.
  3. Verifiable — NFTs live on the blockchain which provides for verifiable ownership and authenticity (and provenance).

How do you start thinking about the things you can create NFTs with?

One great opportunity that we believe has a lot of potential is baseball cards. The sports card and sports memorabilia market is estimated to be worth $5.4 Billion, with $4.7 Billion of that being on eBay.
We believe that there are unlimited opportunities for all sports leagues that are directly involved in the creation of NFTs. Let’s suppose that a major baseball card manufacturer wanted to create NFT cards. Since each Major League Baseball team has 40 players the card company would need to create 40 unique player cards per team. This would give each team and league complete control over the details of each player and also create a new secondary market to drive value for teams and players.

This is what blockchain was invented for.

Is cost a barrier to creating NFTs?

NFTs are an amazing opportunity, and it makes sense that everyone is coming to the party. But there is a huge barrier to its success. Currently, most NFTs are created on the Ethereum platform which as many people know, is one of the most expensive protocols to use. Ethereum gas prices are at $13.74 (source: https://etherscan.io/gastracker on March 1st, 7:26 pm EST), but they can spike to as high as $80 for a single transaction. That means if you create an NFT and want to publish to an NFT marketplace, it will cost you (at a minimum) $14 and that doesn’t include the fee the marketplace needs to charge you for operating or a listing fee. All of these costs really add up.


NFTs have been around for a few years, built on private platforms or more recently on unscalable public blockchains such as Ethereum. We see the future of NFTs/digital assets moving into the mainstream — and we have built a platform that can handle that growth.

Why BSV is better for creating NFTs

Currently, the standard of a transaction fee that is set by Miners is 0.5 satoshi/byte for BSV. This results in less than 0.0004 USD for an average transaction. By removing all the block size limits and unbounded capacity for scaling and the small cost to operate, this opens the door for new entrants to offer digital collectibles at a higher margin.

How to create NFTs?

Using Money Button & the Simple Fabriik Protocol for Tokens

Money Button by Fabriik is the leading wallet provider in the Bitcoin ecosystem. Money Button recently launched the ability to create NFTs for your collectible platforms.

Asset creation (All in Javascript)

/*
 * Define the asset properties like protocol and asset name and create one for each player
 */
const tokenData = moneyButtonClient.createAsset(
  'SFP@0.1',
  'Albert Pujols',
  '1'
)

/*
 * Record the tokens to the BSV blockchain by performing a minting transaction
 */
moneyButton.render(
  document.getElementById('mint - button'),
  {
    outputs: [{
      asset: tokenData.paymailAlias + '@moneybutton.com',
      amount: tokenData.initialSupply
    }],
    label: 'Mint'
  }
)

/*
 * Transfer the asset leveraging our Paymail functionality
 */
moneyButton.render(
  document.getElementById('transfer - button'),
  {
    outputs: [{
      asset: tokenData.paymailAlias + '@moneybutton.com',
      amount: 1,
      to: 'example@moneybutton.com'
    }],
    label: 'Send'
  }
)

Full documentation may be found on https://docs.moneybutton.com/docs/api/api-tokens.html

The Future for NFTs

Collectibles going digital removes the boundaries and limitations of something that can be physically produced. Imagine being transported into a personalized experience that was created uniquely for you on any platform, in any format. The future for digital collectibles is no longer confined to cards, books or any other physical object. The world of NFTs is as limitless as our imaginations.

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