xNFT (Executable NFT) is a new token standard built on the Solana blockchain, containing tokenized code representing ownership rights over its execution. Basically, xNFT can work like an app on a mobile device. This means developers can create dApps that users can add directly into their wallets. These dApps can integrate xNFT, meaning owners can use the assets however they want within the app itself, without needing to connect to external platforms. However, in order to use xNFT, users need to use a special Web3 wallet that supports xNFT called Backpack.
How xNFT works
xNFTs are built on Solana using React xNFT, a framework for building executable NFTs on Solana. React xNFT allows developers to construct native Web3 apps and protocols that operate in a browser sandbox. The sandbox is a secure environment that stops harmful malware from accessing sensitive data or host device resources.
xNFTs also contain an accompanying program ID that points to their executable code on Solana’s program storage. When a user opens an xNFT, the host environment obtains the program ID from the blockchain and loads its code from the program store. The code will then be executed in the sandbox. Users can interact with xNFT through a user interface rendered by React xNFT.
The xNFTs can communicate with each other through requests or messages.
Difference between xNFTs and NFTs
NFT and xNFT both share a common use, which is to represent unique and scarce digital assets. However, what sets xNFTs apart from NFTs is that xNFTs can run code while NFTs cannot. Thanks to this special ability, xNFTs act as a dApp that can interact with users.
Furthermore, instead of being built on top of Ethereum standards like ERC-721 or ERC-1155, xNFT uses React xNFT, a proprietary framework on Solana and only supported on Backpack wallets. With all those factors in mind, xNFT will have more scarcity and more potential use cases than regular NFTs.
xNFTs use cases
xNFTs give users access to a wide range of services for creators via Backpack wallet, without having to use multiple platforms. Backpack also launched its xNFT collection, Mad Lads.
Users can access and manage their assets on DeFi protocols through xNFT. For example, Solend is a lending protocol on Solana. Users can access their accounts and manage their loan positions on Solend through Solend xNFT inside Backpack.
xNFTs allow users to experience the game directly from their wallet. xNFTs can also be used as a character, item, weapon or skin in games.