Big Gids👨‍🍳

The closest NFTs have to privacy is when the attributes are not revealed. In that situation, even you don't know the characteristics of what you own. The moment an NFT is minted, everyone can inspect its traits, rarity and other metadata. This can create a problem for collections built around rarity, hidden attributes or games. This is what the @FungoLabs Launchpad is trying to change. what is the FungoLabs Launchpad? FungoLabs Launchpad is a platform that allows studios and creators to launch their own encrypted NFT collections on Ethereum. It's a place for creators to deploy their collections, set their sale rules and decide how much information about each NFT will be visible. Unlike a regular NFT launchpad, the NFTs launched here can remain sealed even after minting. How does an encrypted NFT work? Usually, when you buy an NFT, you can inspect its metadata. You can see its traits, attributes before the creator officially reveals anything. FungoLabs uses Fully Homomorphic Encryption (FHE), powered by Zama's FHEVM, to keep NFT data encrypted on-chain. In simple terms, the blockchain can work with encrypted information without revealing what it contains. What exactly can creators keep private? When a studio launches a collection, it can decide how the artwork and individual traits should be revealed. For example, a creator can choose to make certain information: - Public from the moment of mint. - Visible only when the holder chooses to reveal it. - Put a specific date after the sale for reveal This gives creators more control over how their collections work. A gaming NFT, for example, could have hidden stats that players don't get to inspect before a match. A collectible could keep its rarity private until the holder decides to reveal it. The creator sets the rules, while the holder gets control over the information the rules allow them to reveal. The holder has more control over disclosure. A holder can privately view their NFT's contents, share access with selected wallets, or reveal certain information publicly where the collection's rules permit i you can prove that your NFT has a rare trait without showing everyone the exact trait or its other attributes. And if you sell the NFT, your access to its private contents ends, while the new owner's access becomes available after the transfer process. What about the actual minting process? The creator brings their collection's artwork and traits, configures the privacy and reveal rules, and sets up the sale. They decide how the NFT should appear while sealed. Instead of displaying the actual artwork, a collection could use a custom image or pattern. Traits can also appear in an unreadable format until they're revealed. The creator can then choose how to organise the sale, including OG and whitelist phases, public minting or a sealed-bid auction. There is also a Quick Setup option for studios that want to configure everything on one page. The sealed-bid auction In a normal auction, participants can see competing bids and adjust their own bids based on what others are offering. With FungoLabs' sealed-bid auction, the bid amount and quantity are encrypted while bidding is open. This means other participants, including the team, cannot see your bid during the auction. Once bidding closes, the bids are opened for verification, and the winners pay the same final clearing price. This is particularly useful for NFT collections where creators want a fairer and less predictable bidding process. The Launchpad is designed for other studios to use. Creators can launch their own encrypted collections, deploy their collection and sale contracts from their own wallets, and configure the rules for their NFTs. This means the platform isn't limited to one collection or one type of NFT. It creates room for different applications, especially gaming, collectibles and projects that want privacy.