Transfer NFT

Introduction

The transfer feature enables the transfer of a NFT from its owner wallet to a new owner's wallet.

Workflow

The transfer request is initiated by the new owner and can be executed only if this new owner can provide the right information, including the Arianee ID of the NFT and a password. The passport is produced by the current owner.

Usually, the current owner generates a link to transfer the NFT and share it with the new owner. The new owner uses the link to claim the NFT ownership and execute the transfer transaction on the Blockchain.

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Limitation

A transfer cannot be reversed once executed. However, if your brand is the issuer, you can recover the NFT for a product return by its owner for example.

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Fees

At the protocol level, the transfer feature is free. Free for the issuer of the NFT, the current owner and the new one.

Extra fees may apply if the NFT issuer outsources the transfer execution to a third party or uses an external software to initiate the transfer.

At the Blockchain level, the gas fees of a transfer transaction are paid by the Arianee protocol.

Interface

Brand: Arianee's NFTs can be created via the Arianee SDK or directly at the Blockchain level interacting with smart contracts. You can develop your own interface to create and manage NFTs, outsource the development to a third party or use an external platform such as the Arianee NFT Management Platform.

Customers: Ownership transfers can be operated through the Arianee .Wallet application by generating a QR code that can be scanned by the new owners.

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Our team tips

Transfer an NFT when the ownership of the relating product changes, examples:

• Product is sold from one to another.
• Product is given from one to another.
• The current owner decides to use another blockchain wallet to hold NFTs.
• The NFT should be transferred following a claim to an insurance in order to be compensated.

It is recommended to use an NFT as custody for a selling transaction and transfer the NFT only once payment has been processed.