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This already exists, it's called RGB21... See more on rgb.info and rgb.tech. RGB is nice because it's an entire generalized smart contract framework, that keeps the vast majority of its data off-chain. Only on-chain bytes needed are to prove ownership and the capability to spend. Only 111.5 vB in a TapRet commitment, anchoring up to 16MB of contract data. More could be added using something like carbonado.io.