Algorand Standard Asset (ASA)

Algorand Standard Asset (ASA)
The Algorand Standard Asset (ASA) is a standardized, Layer-1 mechanism to represent any type of asset on the Algorand blockchain. ASAs can include fungible assets (such as currencies, stablecoins, utility tokens, etc), non-fungible assets (unique assets such as tickets, etc.), restricted fungible assets (such as securities), and restricted non-fungible assets (such as licenses, certifications). Asset issuers, or specified delegates, can optionally have the ability to freeze an account’s ability to transact with their asset and clawback their asset when required.

Reply to this thread with questions and feedback related to this new functionality!

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I had a few questions regarding asset creation and its transfer.

goal asset create command is used to create the assets. For fungible tokens, I can specify the number of assets needed as they should work fine with all the steps mentioned.

However, I have a query regarding the Non-fungible tokens. The assetmetadatab64 field is used to attach more details like deeds, certificate or similar. Also, unitname flag can be used to give the name of the asset.

  • As each token is unique in case of NFTs, do I need to create one token every time mentioning total flag as 1, unlike the Fungible Token can, where we suggest total token needed?

  • Or I can create the total flag to mention the total number of token needed and at the time of minting, I can use assetmetadatab64 and notes filed to attach more information for each token?

  • Lastly, on the transfer of the non-fungible token from one address to another, how can I assign more information about the transfer, maybe the change of ownership details.

These are general queries; I might be wrong in a lot of concepts, please consider this as a thread for creating NFTs and transferring them from one to another, like in case of tickets, maintaining the transparency of the supply chain.

These are great questions.

For NFTs, your first bullet point is correct. You want to create one single token representing that asset.

For the third bullet point, the change of ownership will be officially represented already in the ‘from’ and ‘to’ fields of the transaction and the balance on the ledger. But if you want to add more information about it, you could use the note field on the asset transfer transaction.

In the case where you are creating a lot of NFTs, like for ticket sales or supply chain use cases, you just need to adhere to the Algorand account maximum of 1,000 assets per account. This is just to ensure that account state for any single account does not become too large. How you decide to divvy up new assets across Algorand accounts is up to you.

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