Updated on:11/30/2025 02:41 PM 
CryptoSlate spoke with a key figure from the innovative project AlchemyNFT, exploring new avenues to unlock the commercial and interactive potential of non-fungible tokens (NFTs).
As the spectrum of what can be tokenized on the Ethereum (ETH) blockchain broadens, NFTs are making a profound and sustained impact on the digital asset industry.
With growing awareness and increasing adoption of blockchain solutions, the focus is shifting towards adding tangible utility to NFTs, moving beyond static collectibles.
Victor Zhang, CEO and co-founder of AlchemyNFT, revealed details about tools his team is developing "to equip NFTs with functions and features that were previously unimaginable."
The project, on a mission "to securely make NFTs dynamic and changeable by their owners and creators," has successfully raised $6 million from prominent investors, including Mark Cuban, owner of the Dallas Mavericks.
Born from the team behind AlphaWallet, AlchemyNFT is a proprietary protocol that enables users to modify, or "remix," their NFTs. These modified assets can then be easily "unwrapped" and restored to their original state at any time.
Through the concept of "Remix NFTs," users can create, alter, and combine their digital assets into entirely new creations, limited only by their imagination.
"This technology essentially allows users to turn NFTs into usable Apps and Open APIs—embedding utility, creating scarcity, and even adding metaverse interoperability into existing tokens," Zhang explained. "AlchemyNFT enables derivatives to exist at the smart contract level on the blockchain, whereas other platforms only operate on metadata-level derivatives."
He elaborated that metadata-level derivatives lack a genuine connection to the original tokens and therefore cannot inherit value from them. They can only link to off-chain data associated with the NFTs.
"You could create a metadata-level CryptoPunk derivative based on CryptoPunk #173 and a piece from Fidenza by ArtBlocks," Zhang illustrated with an example. "But this new derivative cannot inherit value from the original assets. Furthermore, without the IP rights for CryptoPunk #173 and the Fidenza piece, you could face a lawsuit for creating such a derivative." He underscored that the core issue is the absence of an on-chain relationship between the original and the derived assets.
AlchemyNFT, in contrast, allows derivatives to be created at the token level. "To mint the new CryptoPunk derivative, you would wrap CryptoPunk #173 and the Fidenza piece into the new asset on the blockchain," Zhang pointed out.
"AlchemyNFT’s remixed tokens create new value based on the original NFT—the original's value, plus any additional value created by combining other tokens and creations," he said, emphasizing that in the given example, the new derivative inherits the combined value of its components, with the creative value of the remix layered on top.
The project’s first major product, AutographNFT, allows users to add digital autographs to their NFTs. Among its early adopters is Ethereum co-founder Vitalik Buterin, who used his Twitter ID to sign an NFT titled "The Alchemist."
According to Zhang, "creators can use AutographNFT to securely sign and authenticate their work, fans can collect autographs from their heroes, and influencers can sell autographs as a new revenue stream."
"We created AutographNFT to bring proof of interaction to the NFT space. We’ve designed it to be incredibly user-friendly: anyone with a Twitter account can use the tool to add digital signatures to NFTs with the click of a button," said Zhang. The tool is built on AlchemyNFT’s EVM-compatible smart contracts and its proprietary TokenScript technology.
By adding context, security, and cross-chain functionality to tokens, TokenScript is a framework that introduces fluid utility to NFTs.
"Think of TokenScript as a secure and decentralized glue that connects NFTs, wallets, websites, and third-party platforms, leveraging smart contract technology," Zhang clarified. "For NFTs, standards like TokenScript are must-haves. Without them, the token's 'soul' is not truly portable, and thus its use cases are severely limited."
