# Asset Mantle Docs | Overview ## What is Persistence? Persistence is a protocol powering institutional open finance by facilitating the borrowing of cryptoassets (stablecoins) using real-world assets, such as invoices, as collateral. This bridges DeFi and traditional finance and uses the features of DeFi to solve real-world financing problems. Persistence aims to facilitate efficient global capital allocation by allowing businesses and traders to draw loans against receivables in to meet their financing needs. It aims to allow investors in low-interest jurisdictions to generate yield through a fundamentally new asset class in the form of real-world income-generating assets. ## What is Non-Fungible Tokens (NFTs)? It all started in 2017 with colored coins on the Bitcoin Network, then got very popular with the famous CryptoKitties on Ethereum. NFTs futher gained popularity in March,2021 after the famous artist Beeple sold his digital art for $69 Million. An NFT or a Non-fungible Token is a structured unit of data that represents the properties of a unique entity, or the entity itself( if it’s a digital asset and all its properties are contained by the NFT). NFTs can be used to represent real-world assets like identity, commoditization, real-world arts & collectibles, etc. ## Challenges of existing NFT Marketplaces Some of the major challenges of the NFT marketplace today are represented by: * Entry barriers such as acquiring crypto to pay for gas (rate on-ramps for first time users) * Data Persistence: The security and privacy of the assets being minted as NFTs * Interoperability: Exchange of asset cross-chain and cross-platform * Limited support for asset creation: NFT market majorly only focused on art and collectibles use-cases ### Solution: Asset Mantle As a framework for NFT marketplaces, Asset Mantle provides all the elements required to create individual marketplaces. It facilitates the creation (minting) of interoperable NFTs that flow between different blockchains. Asset Mantle supports NFTs ranging from digital art, collectibles to tokenized tickets. You can create dedicated marketplaces for selections of products from specific sellers or groups of sellers. Think of it as Shopify for NFTs; instead of listing products on an ‘Amazon for NFTs’ (such as OpenSea), entrepreneurs and artists will be able to create their own Shopify-style stores for their specific NFT assets. ## Why Asset Mantle ? * **Division of responsibility** The NFT functionality is split into two modules, the NFT, and NFT wallet modules. NFT module handles the mint, mutation, and burns logic with the NFT wallet module handling the ownership transfer transactions. Both modules can operate independently on different chains. * **Singular representation/instantiation** The NFTs are addressed by the same hash of the immutable properties, enforcing singular representation/instantiation of NFT across chains. * **Singular wallet implementation** NFT wallet module implements the wallet and transfers logic and is agnostic to other custom logic related to the NFTs allowing for a singular wallet implementation of all the NFT types. * **Implementation flexibility** The NFT module implements all the basic functional requirements of an NFT with no restrictions on the extension of the functionalities to account for more complex application logic, as long as the implementation satisfies the NFT interface. * **Reduced load on interchain protocol** The two modules comprising the NFT functionality do not need to communicate with each other to sync the state at each transaction. They function pretty independently only with only a few transactions requiring inter-chain operability(interchain send, burn transactions). * **Commoditization** All the NFTs are represented with a class or classification allowing for transactions to address NFTs though classes instead of direct addresses and hence allowing for NFT commoditization. * **Trusted minting, mutation and burn execution and Interoperability with private chains** The minting, mutation, and burn logic is implemented natively on the issuing chain and is always handled by the same chain instead of handing over the mutation logic to the recipient chain on NFT transfer to a different chain. This allows for private and privately validated chains to also exchange their NFTs with other chains while ensuring the execution environment trust and logic privacy(if required). * **Native implementation and interoperability** The NFT module is implemented at the native chain application logic level instead of at the Smart Contract level, leveraging the chain’s native interoperability protocols to transfer NFTs between chains instead of permissioned bridge Smart Contracts. ## Why Asset Mantle in Cosmos Ecosystem ? ### Strategically * Be the pioneers in the inter-chain NFT space * NFT market currently is untapped in the cosmos ecosystem and due the rapid demand in the NFT space, there is no concrete marketplace in the space ### Economically * The gas fees on the network is very low and minting assets will be almost free (comparing to Ethereum, huge investment on the minting front) * The users also don’t pay high gas fee for each transaction which will grow the adoption significantly ### Environment - Friendly * The NFTs on Asset Mantle can be called Green NFTs as they use negligible energy. The Ethereum NFTs have faced huge backlash from the environment-conscious community. * A large set of artists and celebrities have opted PoS powered marketplaces over Ethereum marketplaces due to the same fact (ETH2.0 is very far from full implementation at the moment) ### User-Experience * The Asset Mantle allows for the integration of Web2.0 experience and complications of Web3.0 can be abstracted away. * Asset Mantle allows to create your own storefront using user-friendly drag-and-drop experience ## Reference Links [Persistence SDK](https://github.com/persistenceOne/persistenceSDK) [Asset Mantle Github](https://github.com/persistenceOne/assetMantle) [Reference Docs](https://docs.internft.org/workingDraft/) [Asset Mantle Quick Setup Docs](https://notes.persistence.one/s/B6J-FEbxI) [Asset Mantle DApp](https://github.com/persistenceOne/assetMantle-webApplication)