Ternoa uses the blockchain and the uniqueness of NFTs to build a real innovation, a time capsule—a transmission device– helpful in storing data trustlessly and without intermediaries or privacy infringement.
This way, they want to eliminate the barrier brought around by time while allowing people to view NFTs outside the purview of digital art alone to expand the technology’s applicability.
Typically, the NFT—the digital artwork or the file—is publicly accessible and previewable.
However, Ternoa is introducing a new SecretNFT feature that would encrypt this data, allowing the only recipient to preview and access content therein trustlessly without any third party.
A Deeper Dive: Ternoa
From their Twitter page, the project describes what they do to create dedicated data encryption and transmission using the NFT time capsule.
Their solution, they add, allows people to transmit memories—using unique time capsules—or NFTs—secured by the distribution of the underlying base layer and their integration with Intel SGX Secure Enclaves technology.
Ternoa will decrypt files and store them in decentralized storages like Arweave, Sia, and Storj—their current partners—ensuring data remains inviolable.
The difference between Ternoa and other projects is that they want to build a whole new asset class leveraging the inherent properties of NFTs and the unique features of the blockchain to resolve pain points. Being a global technology, the underlying layer can dissipate data—files including digital art—without permission to any recipient borderless.
Ternoa is building on Polkadot and eventually becomes an independent Parachain. The interoperability and scalability of Polkadot would aid the project rollout B2B and B2C solutions riding entirely on the trustlessness of blockchains while allowing for easy flow of personal data via timeless time capsules. Besides, using Polkadot’s substrate, Ternoa’s solution would easily couple with other decentralized storage solutions.
Ternoa Time Capsule Transmission Protocols
The project creators are approaching NFTs as potentially transmission devices in a digital realm with extended owner privileges.
Their goal is to create a limitless data storage space where NFTs transmit data users want to move via the Time Capsules through generations.
Accordingly, regardless of the situation, the recipient of the time capsule would receive tamper-free, secure data despite the receiving period.
On receipt, the receiver is free to do whatever they want to do with this data. They can even choose to resend it to others.
Towards that end, Ternoa has five modes of data transmission protocols:
- The Death Protocol enables postmortem transmission of private files. Even after death, the intended recipient would receive data as originally sent. The mode depends on the API of local death registers. Ternoa has indicated that this protocol would only be eligible—in the beginning—to eligible countries.
- The Consent Protocol will open the Time Capsule whenever there is no opposition from the sender.
- The Safe Protocol would secure data safely riding on the security of the blockchain.
- The Countdown Protocol sets a count down before sending the capsule.
- The D-Day Protocol asks the sender to specify the date of transmitting the capsule. This mode acts more like a digital safe where sent files/memories can only be opened on a specific date.
The Ternoa SecretNFT Marketplace
Besides the Time Capsule allowing the transmission of memories, Ternoa is also building a SecretNFT marketplace via the CAPSULE CORP. LABS. This dApp would enable users to trade secret NFTs using CAPS. There will be three modes of SecretNFT operations–“Protect,” “Secret,” and “Blur.”
Each authenticated piece is unique, drawing even more value for content. It will be open to artists who, in turn, can list their NFTs on the marketplace. All minting and purchasing of NFTs will rely on CAPS utility token. The team says this opens up numerous user cases, including storage of medical records, application in fashion, and use in the music industry. The watermarking of files would significantly benefit creators.
During the Alpha phase of the SecretNFT marketplace testing and development, Ternoa partnered with 12 different artists, who forged a total of 26 NFTs.
The Ternoa Team and Partners
Ternoa is a creation of a French startup Capsule Corporation. There are 25 team members drawn from different specialties using their experience in entrepreneurship, analysis, Finance, and communication to propel the project forward.
- Mickael Canu is the CEO and is a graduate of Computer Science from Osaka University.
- Clément Tequi is the CFO is a consultant and an author of “Blockchain, vers de nouvelles chaines de valeur” (Edition Eyrolles)
- Martin Oliviero is the COO
- Johan Martinez is the Head of Partnerships.
Advisors include:
- Owen Simonin—the 2020 Binance Influencer for Europe
- Kyle Chasse of Masters Ventures,
- Dr Deeban Ratneswaran of GD10 Ventures
Ternoa partners and investors include DFG Group, LVT Capital, Master Ventures, GD10, Waterdrip Capital, Morningstar, PAID, DAO Maker, and ArkStream.
Ternoa (CAPS) Tokenomics, Market Performance, and ROI
In all, there will be 2.5 billion CAPS tokens—the platform’s utility tokens.
CAPS tokens are used to mint and purchase NFTs on the Ternoa ecosystem and purchase storage time over time. At the same time, CAPS will be used to pay the protocol and operation costs of master nodes.
The token would also be used for staking since Ternoa uses the Nominated Proof-Of-Stake consensus algorithm. This requires nominators to acquire CAPS and delegate them to receive a portion of fees earned by master nodes.
The distribution of CAPS is as follows:
- 24 percent to Private sales
- 16 percent to the team
- 15 percent to Development
- 12 percent to staking
- 10 percent to ecosystem and partnerships
- 1 percent to Reserve
- 7 percent to Marketing
- Four percent to Advisors
- Three percent to liquidity
- Two percent to the Public Sale
- 2 percent for Airdrops
- 04 percent to First Master Nodes
There are 269.57 million CAPS in circulating supply at the time of writing. Each token trades at $0.065, giving the project a market cap of $17.62 million.
The project raised $4.28 million, a bulk of which was raised in the strategic/seed fund—$1.38 million—and during the second private sale—raising $1.2 million.
Participants of the DAOMaker and Ignition IDOs are up to 8X since they scooped the token at $0.08. In all, Ternao received $350k.
Thus far, there are over 4.8k CAPS holders, according to Etherscan.
CAPS token can be traded at AscendEX, PancakeSwap, ApeSwap, and Gate. Although listed at Uniswap, trading volumes are comparatively low.
Ternoa (CAPS) Catalysts
- NFTs is in the early stages of experimentation. However, billions worth of sales have been registered; a tide Ternoa hopes to ride with, providing value to investors.
- CAPS has a relatively low market compared to the scene it hopes to disrupt in the long haul. Ternoa is determined to release value, benefiting investors who get in early.
- Early investors—private sale, Strategic fund, and seed sale—are posting superior ROI, indicating the quality of Ternoa and the applicability of their solutions.
- Besides ordinary investors, Ternoa is backed by over seven crypto funds, most of whom are already invested in other high-performing projects. Their decision points to value—supporting the project.
- Ternoa is a secure project whose code has been audited by CertiK.
- CAPS token is fairly distributed, with an active secondary market being DEXes. Eventually, the project’s success could see more CEXes list CAPS improving its market depth, liquidity, and thus valuation.
- As per their roadmap, the Ternoa project is still in development, planning to release their mainnet in Q1 2022. Before then, it is gathering up steam, dominating headlines, and is one of the hottest NFT projects around.
- Ternoa development team is not settling but continues to build. The release of the SecretNFT marketplace demonstrates their conviction in seeing the project succeed, attracting users. Additionally, the Ternoa Wallet is being refined. Their Masternodes model is also being implemented in the testnet.
- The CEO, Canu, for instance, is the founder of several startups besides Ternoa. The team is overly experienced in drawing their expertise from entrepreneurship, communication, marketing, Finance, and more. The quality of investors is also another indicator of how well the project is buttressed from an intellectual perspective.
- Ternoa is differentiated as it uses NFTs for just more than art. Instead, their time capsule innovation for personal use tags value as a transmission device for moving files and more.
- Their launch on Polkadot and plans of becoming a Parachain eliminates needless limits. The project would connect with other blockchains or parachains, all this while remaining scalable and cheap.
- Ternoa will remain decentralized, where the control of the project is under the community. This gives early investors a chance to accumulate, grow with the project, and more so on the development trajectory, the project would adopt.
- Ternoa is not just for individuals but is open for B2B. Already, Syment, which offers remote general meeting solutions to over 300,000 real-estate co-owners, is running on Ternoa. However, the protocol’s application can be in medicine, legal, real estate, or even gaming, where files can be moved privately in various protocols as NFTs.