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1 Definition 2 Functional Requirements 3 Syntax 4 Semantics

1      Definition

Market Classes define a controlled vocabulary used to categorise assets, rights, services, and experiences exchanged. These classes allow implementers and markets to express, in a standardised way, what kind of economic entity is being described.

A Market Class is represented by a string-valued identifier, each beginning with the prefix MC‑.

2      Functional Requirements

Implementations using Market Classes shall:

  1. Identify the economic nature of an Asset, so that downstream systems can understand how to process, display, price, or regulate it.
  2. Enable interoperability among heterogeneous systems by providing a shared lexical space for market‑level classification.
  3. Support automated workflows, including rights management, transactions, certification, and presentation.
  4. Support categorisation of both digital and physical goods, as well as intangible and experiential products.
  5. Support extensibility by allowing additional Market Classes in future versions while preserving backward compatibility.

3      Syntax

https://schemas.mpai.community/MMM4/V2.2/data/MarketClasses.json

4      Semantics

Label Description
Header Market Class Header – Standard “MMM-MKC.Vx.y”
M-InstanceID Identifier of M-Instance.
MC‑Service A service provided or purchased, whether automated or human‑delivered (e.g., consulting, rendering, processing).
MC‑DigitalCollectible A digital item primarily valued for collectibility (e.g., artworks, badges, commemorative digital items).
MC‑VirtualAsset A functional digital asset used in virtual environments or metaverses (e.g., virtual land, avatars, tools, in‑world items).
MC‑PhysicalGood A tangible product that exists in the physical world and must be delivered or shipped.
MC‑Experience A non‑tangible, time‑bound experience (e.g., events, performances, guided sessions, immersive activities).
MC‑AccessRight A right enabling access to content, functions, services, or environments (e.g., subscriptions, licenses, entry permissions).
MC‑Donation A voluntary transfer of value without the expectation of receiving a good, service, or right in return.
DataExchangeMetadata Identity of Process producing the Item and time of production.
Trace  Source producing the data and time of production.
DescrMetadata  Free-text metadata.