Sui Kiosk: Creator Self-Service Trading Platform on Blockchain

The Sui network has launched a native feature called Kiosk, designed to provide creators and IP holders with tools to implement their business models on the Blockchain. Kiosk, as a primitive, can meet the needs of creators and offer flexible options to set transaction conditions.

The Essence of Kiosk

Kiosk is essentially a self-service trading platform for digital assets and NFTs. By creating and placing assets in Kiosk, creators can define transfer policies and rules, controlling the future ownership, market sales, and management of the assets. This mechanism, controlled by creators rather than the market, avoids issues that arise on other Blockchains and markets, such as the cancellation of mandatory royalty enforcement.

Kiosk adopts a shared object model on Sui, becoming a trusted asset display source where anyone can view and interact with listed assets. Sui designs Kiosk to be universal and simple, establishing a common framework that promotes adoption and interoperability.

Core Components of the Kiosk

The basic components of the Kiosk include:

1. Kiosk and KioskOwnerCap: basic components that allow owners to deposit assets and list them for sale.

2. TransferPolicy and TransferPolicyCap: define the conditions for asset transactions or sales, such as whether it can be sold, price, and trading scenarios, etc.

3. Rules: The specific terms within the TransferPolicy define the transaction methods for the objects, such as fees or royalties.

Kiosk supports extensions to enable more complex scenarios, such as auctions and lotteries.

Kiosk Application in SuiFrens

Mysten Labs issued 380,000 Bull Shark NFTs in the SuiFrens project using Kiosk. These NFTs control the sales method through Kiosk, set royalties, and restrict transfer conditions.

Two key rules are implemented in the SuiFrens牛鲨Kiosk:

1. Copyright rules: stipulate that a certain amount must be paid to the creator upon resale.

2. Locking rules: prevent assets from being traded outside the Kiosk to avoid circumventing royalty rules.

This combination demonstrates a simple example of mandatory royalty enforcement.

Kiosk User Guide

Creators can create Transfer Policies for assets, specifying requirements for different asset types. Taking SuiFrens Bull Shark as an example, Kiosk defines the royalty rules and locking rules. The royalty rules specify the royalty amount during secondary market sales, and the locking rules ensure the enforcement of royalty obligations.

Other rules currently under development include:

• Soul-bound Kiosk: Makes assets exclusively belong to one owner.
• Minimum Price Rule: Creators are allowed to set a minimum selling price for their assets.

The combination of these rules will provide important tools for IP creators on Sui, protecting the rights and interests of all parties.

The Future Development of Kiosk

Kiosk will support more diverse and complex business models in the future. The development team is assessing opportunities to provide customized trading scenarios ( such as auctions or lotteries ) and business model transformations ( such as licensing ).

The native functionality of Kiosk allows for transactions and commercial activities in a decentralized environment while ensuring fairness, creator control, and transparency. This provides powerful tools for creators and developers on the Blockchain, with the potential to drive the emergence of more innovative applications.