ARC-40: Standards and Validation Workflows for Mutable Asset Sets

Title: Standards & Validation for Mutable Asset Sets

Description: A Standardized Metadata Schema and Decentralized Verification Workflow for Mutable Sets of Assets (including NFT Collections)


This ARC introduces a standardized schema and decentralized (platform-agnostic) workflows for defining, configuring, and validating metadata for sets of associated assets (“Asset Sets”), such as NFT Collections. The proposal provides a modular framework enabling bidirectional linkage between the metadata of a parent Asset Set ASA, Child Assets, and Contributors (e.g. Creators), for trustless proof of control and attribution. Asset Set ASAs provide a verifiable source of truth for any Asset Set.

By fully leveraging Algorand’s capabilities, such as the mutability of ARC-19 and the asset opt-in process, the proposal ensures the integrity of Asset Set metadata, thereby enhancing trust, consistency, and interoperability across the Algorand ecosystem.

The ARC-40 proposal aims to promote a more interoperable and inclusive Algorand NFT ecosystem by defining clear yet flexible standards for configuring and verifying NFT Collections and other types of asset sets. It facilities attribution for contributors and adaptable IP rights management for creators and NFT communities. Would love to hear your thoughts :slight_smile:

A core feature of this ARC are workflows designed to establish a bidirectional link connecting the metadata of an Asset Set with any associated entities (e.g. Child Assets, Contributor Addresses, and Contributor Assets), allowing them to reciprocally reference each other. Linkage is established during the minting / configuration process, providing verifiable proof of control or association between entities – independently validating the integrity of the Asset Set without the need for trusted intermediaries.