How To Create ERC7007 Token?

erc7007-token-development

Hello Cryptocurrency Token and Artificial Intelligence Enthusiasts,

This world is getting bigger and brighter only with the innovation and creativity of humans. In recent times, crypto tokens have been considered the most novel creation in the universe. In this modern era, digital tokens are beyond the dreams of every human because, in previous generations, we used written documents and papers to hold the ownership rights of a particular asset, but now everyone uses crypto tokens to manage and verify their digital assets. 

All cryptocurrency tokens are designed with the support of a blockchain network. Among the various blockchain networks, Ethereum is a highly preferable blockchain technology to craft crypto tokens. In the crypto industry, a variety of crypto token standards are available, each one is unique in its way and satisfies the variety of needs and expectations of the clients. 

In this blog, we will discuss an ERC7007 crypto token standard that is expected to make a storm in the crypto industry with its strongest features and functionalities. Most of the token standards are used for tokenizing digital collectibles, but this is something special and unique because it is mostly used for tokenizing AI-based content. Let's see more about ERC7007 tokens and how they are more special than

What is ERC7007 Token Development?

ERC7007 token development is the process of creating and releasing a cryptocurrency token with the Ethereum blockchain network's assistance, based on the ERC7007 specifications. It is an NFT and an upgraded version of the ERC721 token standard. These tokens are incorporated with zero-knowledge machine learning(zkml) and optimistic machine learning(opML) potentials to allow verification and data correctness. 
 
The main purpose of this token is to hold ownership rights to the AI-generated content and designs. It will guarantee the originality and ownership of AI-generated prompts.

List the Major Difference between ERC7007 and ERC721

The core differences between ERC7007 and ERC721 are mentioned below.

  1. Purpose

    ERC7007: The main purpose of the token is to claim the ownership rights of the AI-generated contents and prompts

    ERC721: The core purpose of the token is to hold the complete ownership rights of the unique and own generated contents.
     
    2. Verification

    ERC7007: To guarantee the AI-generated prompts' uniqueness and authority control.

    ERC721: To guarantee the uniqueness of every non-fungible token.
     
    3. Use Cases

    ERC7007: Majorly used for applications involving AI-driven content like text, pictures, videos, music, etc.

    ERC721: These tokens are primarily used for applications involving unique digital assets, gaming items, other assets, etc.

    The core features of ERC7007 tokens are mentioned below.

1. zkML Techniques: Zero-knowledge Machine learning features are integrated into ERC7007 tokens to verify the AI contents without exposing the major data. It will support and confirm the content's authenticity.

2. Minting: The mint feature allows users to create new NFTs for AI-generated content. This feature needs prompt phrases, AI-generated content infromation, and proof of authenticity. 
 
3. Ownership Rights Claim: This feature helps to claim the ownership rights of the prompt that you submitted before to the AI model. This helps the users claim their prompt phrases for generating the content, image, design, etc. 

4. Content Updation: This feature allows the content associated with tokens to be updated, which is helpful when content has to be improved or rectified over time. 

5. Verification: The features for verification help to confirm that the AI-generated material and the prompt are all authentic. Users will be able to verify that the material is consistent with what the selected AI model produces.

Exclusive Benefits of using ERC7007 Token Development Services

Here are the major perks of using our ERC7007 token development services:
 
1. Transparency: As I said before, our tokens are completely designed with blockchain technology. It will ensure the transparency of every ownership record. Users can verify the previous token holders of the AI contents. 

2. Customization: Our token development services are highly customized. As per the business requirements of the clients, they can tailor the basic features and functions of the tokens.
 
3. High Security: Our ERC7007 token development services are giving priority to security measures, including strong smart contract auditing, secure coding techniques, and commitment to best practices to protect token holdings and transactions.

4. Scalability: Our tokens are integrated with high-scalability solutions to handle large transaction volumes effectively, optimizing gas usage and interoperability with other blockchain networks.

5. Community Support: Our services consist of various strategies for community involvement and token landscape enhancement, such as tokenomics consulting, liquidity provision strategies, and fostering partnerships within the blockchain industry.

How Does the ERC7007 Token Work?

The basic working function of the ERC7007 token is mentioned below. 

1. Create a Prompt: First, we need to create a prompt to generate AI content. Once we get the prompt, start to claim ownership rights before submitting to the AI model.

2. Generate AI Content: After claiming the prompt content, generate AI-related content like images, text, design, etc. Based on the input prompt, the content is generated and saved for later validation and tokenization.

3. Proof Creation: Zero-knowledge proof has to be generated to ensure the originality of the AI content. This proof validates that the created content was based on the input prompt and AI model without revealing the data. 

4. Minting and Verification: Users can use the “mint” option to create an ERC7007 token. After verifying the evidence or proof, the user provides a prompt, the AI-generated content file, proof, and the AI-generated NFT smart contract. The contract then creates a token for the content. 

5. Managing Metadata: ERC7007 indicates the exclusive metadata schema in JSON format. This metadata consists of detailed information about AI-related content, such as the name, description, prompt, etc. Metadata management helps to organize and identify the tokens.

Why is MetaDiac Unique in ERC7007 Token Development?

In this competitive industry, MetaDiac is a top-rated crypto token development company with highly skilled token developers. We are experts in crafting tokens with different standards as per the client's requirements. In our tokens, the most innovative features were integrated to satisfy the needs and expectations of the clients. Recently, our ERC7007 tokens have been highly appreciated by global clients for completing the project within a fixed schedule and budget. In this business, we are referred to as a highly sophisticated ERC7007 token development company. Our goal is to support the users in tokenizing their AI-generated content along with its prompt. Talk to our experts for more details.

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