Fairmint has submitted a proposal for a common NFT format on Canton, with equity certificates as its first planned production use.
The draft sets out how applications would identify and handle individual assets such as tickets, memberships, artwork and certificates. Each item would have its own identity, rather than being treated as an interchangeable balance of tokens.
That distinction matters when the asset is a particular ticket or certificate. Moving it to another owner would preserve its identity, while its name, description and associated content would follow a shared format that wallets could display.
The proposal builds on Canton’s Token Standard V2. Transferable items would use the same transfer processes as other assets following that standard, including arrangements where the asset and payment change hands together.
It also defines a non-transferable option for items that need to stay with their holder. A membership or credential could use that format, with the issuer able to specify whether it can cancel the item. The choice between transferable and non-transferable would be fixed when the item is issued.
Privacy is addressed separately from identification. Public asset listings would show which items exist, but not who owns them. Public identifiers would be barred from containing personal information or identifying a holder’s account.
Fairmint intends to use the format to issue equity certificates through its transfer-agent business. The draft’s regulated-certificate example combines a non-transferable item with the issuer able to define update and revocation controls.
Written by Fairmint’s Boris Nelkin and Nick Mancuso, the proposal is open for review. Its scope is the assets themselves and how applications recognize them; marketplace features such as listings and royalties remain separate. The full draft specification sets out the proposed rules.
