M3tering
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  1. Token Economics

M3ter NFTs

PreviousIn SummaryNextMint & Distribution

Last updated 1 month ago

M3ters are NFTs representing smart electricity meters on the EVM blockchain . This means that each individual smart meter is represented by a unique NFT, which serves as a digital proof of ownership for that specific smart meter. The information associated with the smart meter, such as its unique identifier, owner's wallet address, tariff, and operational data are stored within the NFT contract state.

NFTs are unique digital assets that cannot be exchanged on a one-to-one basis unlike fungible tokens. Instead, each NFT has a distinct and indivisible identity, making it unique and valuable in its own right. Learn more here

The concept of tokenizing these devices brings numerous advantages to the protocol, offering several key benefits, including:

  • Provenance and Ownership: NFTs provide a transparent and immutable record of ownership for each smart meter. This helps prevent fraudulent activity and ensures that the meter's ownership history is traceable and verifiable.

  • Interoperability: NFTs are built on blockchain technology, making them easily transferable and tradable across different applications. This enables seamless integration and cross-platform compatibility with other blockchain-based applications and services.

  • Value and Monetization: The uniqueness and scarcity of NFTs can increase the value of the smart meters. Owners of these NFTs can be monitezed by leasing them, borrowing stablecoins against them or trading them on the NiftyFair NFT marketplece.

  • Decentralized Management: NFTs enable decentralized management and governance of smart meters. The ownership and operation of the smart meters can be governed by automated agreements stored on the blockchain, reducing the need for centralized intermediaries.

Overall, tokenizing our smart meters simplifies the management and governance of these devices. All offtaker payments are directly linked to the unique token IDs of their energy provider's M3ter NFTs. This means that owning the M3ter NFT entitles you to a direct stream of income based on the electricity consumed by connected offtakers. This clear link between payments and NFTs ensures transparency and simplifies revenue distribution within the protocol.

The DePIN vault beyond NFTs

Dive deep into the DePIN token's technical design. Explore the tokenomics, supply, distribution and smart contracts mechanisms that underpin the M3tering protocol.

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