In the ever-evolving space of Non-Fungible Tokens (NFTs), there is a persistent challenge - correctly attributing NFT creators. Enter ERC-7015, an Ethereum Improvement Proposal (EIP) that sets to solve the issue by extending ERC-721 with cryptographically secured creator attribution. Created by Carlos Flores, this proposal could introduce significant changes in the NFT landscape.
Proposal Overview and Motivation
The crux of ERC-7015 is to allow NFT creators to sign the necessary parameters for the NFT creation, including the NFT metadata and a hash of any other relevant information. This attribution can then be validated during the contract deployment transaction, ensuring accurate creator recognition.
1/ New ERC alert! ERC-7015: NFT Creator Attribution, aims to solve the issues around creator attribution for certain NFT deployments. The goal is to maintain a secure and verifiable way for NFTs to signal their creator’s onchain identity. 👇
— indreams.eth 🪞 (@strollinghome) June 30, 2023
Currently, NFT platforms implicitly attribute creatorship to the wallet that deploys the contract, a practice that could lead to misattribution. ERC-7015 seeks to resolve this by letting any wallet deploy the contract while correctly signaling the creator.
The Magic of Signatures
The ERC-7015 proposal introduces a signing mechanism that involves creator consent. This consent is given by signing an EIP-712 compatible message, ensuring the inclusion of all necessary fields defined. These fields contain the name and symbol, which are the ERC-721 metadata parameters, a unique salt parameter for added randomness, and the NFT address that will be deployed.
The verification of creator attribution is given through a signature verification that is validated by the NFT contract and an event that is emitted by the NFT contract during the deployment transaction. This verification ensures that the correct creator is attributed, no matter who deploys the contract.
ERC-7015: Empowering Creators
The ERC-7015 proposal seeks to eliminate a barrier many NFT creators currently face — the upfront cost of "gas fees" needed to deploy a token on the Ethereum network. This proposal facilitates a mechanism where the creator's consent, in the form of a signature, can be attached to the NFT creation process. With this process, any party, such as an NFT marketplace or platform, can deploy the transaction and cover the gas fee on behalf of the creator.
This approach offers the possibility of earning ETH for creators without having the upfront ETH for gas. The creator can reap the rewards when the NFT sells, removing the financial barrier for many potential creators. The adoption of ERC-7015 could stimulate greater participation in the NFT space, making it more inclusive and accessible.
Evaluating ERC-7015
Standardizing the CreatorAttribution event, as this EIP proposes, empowers platforms to manage the complex aspects of deploying contracts while preserving accurate onchain creator information. This approach ensures a more reliable and transparent method for identifying NFT creators, fostering trust among participants in the NFT ecosystem. Nevertheless, the feasibility of ERC-7015 largely depends on platforms willing to cover the upfront gas fee with the expectation of recouping it from successful NFT sales.
ERC-7015 represents a potential leap forward in resolving the creator attribution issue for NFTs, paving the way for a more transparent, accessible, and equitable NFT ecosystem. With its implementation, the Ethereum blockchain may see further growth in the creative economy by empowering more artists and creators to participate without financial hindrance.
