NFT Limited, a publicly traded company listed on the NYSE American, has officially released the RWAIX verification protocol as MIT-licensed open-source software on GitHub. Through this open verification system, the US-listed firm is preparing a live digital art transaction pilot within a 90-day window, targeting execution in the first quarter of 2027 following the completion of an independent security review.
This move is more than just sharing lines of code with the public - it represents a real-world experiment to decouple NFT trading from its reliance on cryptocurrencies.
How Transactions Work Without Crypto
The RWAIX protocol is designed to independently record and verify the entire digital art transaction flow between buyers and sellers. Its oversight scope covers the initial agreement on the purchase contract, confirmation of digital asset delivery, payment flows, and an arbitration mechanism should disputes arise later.
The introduction of this verification system allows third-party verifiers to validate the legitimacy of transactions. With an open mechanism, parties no longer need to rely entirely on unilateral internal records kept by digital art marketplace operators.
For the initial stage, the pilot run will be conducted through Metaverse Digital Payment Co., Limited, a Hong Kong subsidiary of NFT Limited that already operates an active digital art trading platform. The pilot transaction is focused on a single NFT order.
Instead of requiring crypto asset holdings or minting new tokens on a blockchain, the pilot transaction leverages conventional banking clearing rails to process payments. Buyers complete transactions using existing, standard banking systems.
Three Stages Toward Real Customer Funds
The 90-day development schedule is structured into three distinct phases. Days 1 through 30 focus on finalizing the software environment and establishing the copyright validity of the artwork being traded. Moving into days 31 through 60, the development team will run simulated orders, payment verification, and dispute resolution scenarios in a controlled environment.
The final phase spans the last 30 days. This period serves as a live test as the system executes transaction orders using real customer funds in the market.
The protocol’s technical readiness has already undergone baseline testing. The RWAIX reference implementation, written in Node.js, reportedly passed 50 internal software test cases without a single technical failure.
NFT Limited CEO Yanying Wang emphasized that the pilot aims to prove the reliability of the verification system using an existing customer base and operational payment infrastructure. Looking ahead, the company also aims to expand the protocol into artificial intelligence (AI) agents and robotics.
For digital art industry players, the RWAIX experiment offers a fresh perspective: digital artwork ownership records remain publicly verifiable, while money moves through standard bank accounts.
Reported via crypto.news.
Also read: What Are NFTs and How Do They Work?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
