ERC-7743: Multi-Owner Non-Fungible Tokens (MO-NFT)

Introduction
This ERC proposes a new standard for non-fungible tokens (NFTs) that supports multiple owners. The MO-NFT standard allows a single NFT to have multiple owners, reflecting the shared and distributable nature of digital assets. This model incorporates mechanisms for provider-defined transfer fees and ownership archiving, enabling flexible and collaborative ownership structures. It maintains compatibility with the existing ERC-721 standard to ensure interoperability with current tools and platforms.

Why Was ERC-7743 Introduced?

NFTs are single-owner. In real life, many people co-create and co-own digital content. This standard introduces shared ownership to better reflect collaboration and ownership in the digital world.

What Problem Does It Solve?

ERC-721 lacks support for shared ownership. This limits collaboration. ERC-7743 solves this by allowing multiple users to own a token, pay fees to creators, and archive their ownership without destroying the token.

Example Use Case

Three artists co-create an album and mint it as an MO-NFT. Each becomes an owner.

One artist archives their ownership, remaining recorded but no longer able to transfer.

Actors

• alice: Artist 1 (provider)

• bob: Artist 2

• carol: Artist 3

Flowchart demonstration of ERC-7743

Code Snippets

Assuming deployed contract is monft and alice, bob, carol, are accounts:

Step 1 – Alice mints the NFT:

uint256 tokenId = monft.mintToken();
// Alice becomes first owner and provider

Step 2 – Bob joins as a co-owner by transferring:

monft.transferFrom(alice, bob, tokenId);
// Bob is added as an owner
// Alice (the provider) receives the transfer fee

Step 3 – Carol joins as another co-owner:

monft.transferFrom(bob, carol, tokenId);
// Carol added to the owners list
// Alice gets another fee

Step 4 – Bob wants to exit, so he archives:

monft.archive(tokenId);
// Bob is marked as archived
// He can’t transfer the NFT anymore but can access/download the digital art

Key Takeaways:

• Multiple owners per NFT (Shared ownership)

• Transfer fees to reward providers (Transfer incentives)

• Archiving ownership without burning (self-removal)

• Compatibility with ERC-721 ecosystem

• Ownership history tracking

• Prevents duplicate ownership entries

Conclusion

ERC-7743 gives NFTs a 'social life'. It's a step forward for collaborative digital ownership. It supports creators, enables flexible participation, and fits within existing NFT systems.