Another Wild Idea from NOVAX... Non-Fungible Dollars )NFDs(

I’ve been kicking around some ideas with the BabelVerse guys and I wanted to see if we can develop them further here. We’re discussing Non-Fungible Dollars (NFDs). It’s a term I chose to describe an undeveloped idea. Let’s explore conceptually (& purely for fun at the moment) the prospect of minting NFTs (all unique representations of a defaced dollar bill perhaps) and peg their value to $1 USD. Help me develop this one guys. There’s enormous opportunity at the intersection of the NFT market & the stablecoin realm. This is the brainstorming topic, so please crazy out of the box responses only. Thanks

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This is wild i agree, so wild that i didn’t understand :sweat_smile:

If you can provide little more details like what is it that we want to explore then i can think of it,

Won’t it become another stablecoin with limited use case?

And if every dollar has it’s own unique identifier then one can track where each dollar is going and to which wallet and through which contracts right?

The thing is we want to avoid being tracked.

-Rough idea-

Maybe we can use it like a vault, like deposit and get an NFT with a unique code that represents that much value(value will be hidden) which will be locked in an highly secure contract, the user can just store the NFT in his wallet so no one knows how much money he has, when the user decides it’s time he can give that NFT back and bring his money to his wallet, or send that NFT to his another wallet.

And maybe we can even add a feature like the money can be directly sended to the contract without touching his wallet and then user gets the NFT from the contract, which then he can redeem using “redeem to external address” to his second wallet.


@StanTheGreat you truly are GREAT! This is precisely the type of conversation I was hoping to spark with this comment. There’s something here. It will become more clear over time. But let’s keep tossing this one around. Non-Fungible Dollars.

Yes, I agree with your assessment of privacy concerns for common transaction use-case. But I’m suggesting like you proposed, that we find the most advantageous way to leverage the benefits of NFTs (both taxation & functionality) and apply them to a form of stablecoin-backed NFD. I don’t have a clear vision for what that means. It’s a laboratory conversation. But I was imagining something like what you propose, in which a liquid conversion market for NFTs may be generated as well.

So, imagine being able to liquidate your NFTs for a known price through an art auction that was happy to buy your art for a fair price. Perhaps less than you may get if you waited for an auction buyer. But nonetheless, a fair price. Or imagine, art swaps, in which NFT art holders can trade their collectible assets without having to exchange funds. This is a brainstorming thread, so nothing is off-limits.

These ideas seem quite far in the weeds right now, but they may become more practical in the future once our BabelVerse NFTs are minted on RSK network. We want to build where the demand is. So these conversations help to focus our attention in the right long term strategy direction.

thanks @dolarcripto, I just returned to correct my header typo because I should now have the trust score to do that, but I see you beat me to the punch!

As far as NFTs are concerned I think there should be some type of mint number associated with them. This would automatically add rarity to these NFTs. This could also entice people to get in early as there may be something special we can release for the for 100 (or whatever we choose). Also, what about the idea of making the NFT interoperable so it can be sold on other platforms or enter other metaverses!

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I would like to understand the goal of this idea. What is the use case here?

I think it would make people desire the nft more. Lower mint would also suggest you have been in the project longer thus making you an “OG”. The interoperability would serve as a way to market babelfish as well as a way for people to sell their nfts out in the open market.

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I like having a space for brainstorming and thinking out loud together. There’s a lot of potential in using digital assets to add value to the community. The NFT space is a laboratory space where we can innovate. The most practical NFT idea I have for BabelFish has nothing to do with this incomplete Non-Fungible Dollars concept. It has to do with governance.

BabelVerse intends to develop a parallel economy with NFT customizations for the pixel art BabelFish avatar. By coding functionality into these in-game NFT assets & collectible NFT art, BabelVerse could become a source of rewards generation for BabelFish governance participants. This would support a sustainable governance rewards model and reward the participating community with NFTs that we’ll value.

But keep this NFD concept rattling around in your head, there is something here… an innovation at the tangent point between NFTs and stablecoins. It may just be a clever way to implement XUSD within our NFT auction.

For the sake of “throwing it out there”…:
Last few days I am thinking of the potential of the gaming industry. There are a lot of popular games which are or will be integrated with the metaverse. I think that Babelfish could establish itself as an intermediary between those different games. Let me explain:

In different games there are different items you can buy / hold. If you develop a NFD for a certain game (let’s say an “Axie” dollar for AXS), which can be converted to xUSD on our platform, it can be traded as NFT against another item from another game, which is also pegged to xUSD. Players can then easily transfer wealth from one game to another easily, tradeble via our nft platform!

In general I think there is room to leverage the gaming industry and Babelfish can profit from that opportunity…


This is a cool idea. Do you think it would be possible to buy a plot in Decentraland for the Babelverse and create an exchange for xUSD in Decentraland. Also, the plot could have a portal that brings people from Decentraland into the Babelverse. What if the coolest place for people to visit in Decentraland was actually the Babelverse? (though I dont understand anything about the technical feasibility of this)

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Fantastic ideas! Are you active on our Discord? Hit me with your Discord handle so I can add you to story school @Robb