Toward Achieving Anonymous Non-Fungible Tokens in Trustless Environment

Abstract

Non-Fungible tokens (NFTs) are a special type of token that has a unique ID and can be held or traded as a crypto asset by Ethereum users. For the current NFT standard, NFT owner’s account address is stored in plaintext by blockchain. Once a user’s real identity and account address is known, his NFT holdings are also exposed. In practice, one may consider the NFT holdings to be private. In this paper, we propose the first solution to achieve anonymous NFT on Ethereum in a trustless environment. The owner address of an NFT will be hidden while the NFT can be continuously traded without revealing the addresses of buyers and sellers. Furthermore, we prove that our scheme preserves privacy against all entities in the trading system and builds an implementation to evaluate its performance. The result shows our solution is suitable for application.