Understanding NFT Smart Contracts 

NFTs, or non-fungible tokens, created a major milestone in the history of technology with the multi-million-dollar auctions. The primary advantage of NFTs is that they are indivisible and completely unique. Before you find the methods to test NFT smart contracts, it is important to learn about their importance. NFTs serve as representatives of digital assets, such as images, in-game collectibles, videos, or audio files. What is the role of smart contracts in these unique assets? Smart contracts help represent NFTs on the blockchain platform of your choice.

NFT smart contracts are the code that helps define the logic and rules for creation, transfer, and management of the tokens on the blockchain. The smart contracts also serve as proof of ownership of NFTs, which plays a major role in establishing their uniqueness. The choice of programming language for NFT smart contracts is Solidity, which is a popular programming language tailored for Ethereum and other supported blockchains.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

What are the Reasons for testing NFT Smart Contracts?

Testing NFT smart contracts might appear to be a complicated procedure. However, it is important to look for an NFT smart contract checker because NFT smart contracts are extremely valuable for different reasons. For example, the immutability of blockchain raises the cost of deploying smart contracts on blockchain networks. Deploying smart contracts with bugs or vulnerabilities can lead to the loss of data and tokens, thereby implying the need to deploy new contracts.

The most important reason for testing NFT smart contracts is to verify how the code works. It helps determine whether the code for the NFT smart contract works according to your expectations and meets the desired specifications and requirements of your project. Another crucial reason for NFT smart contract testing points to identification and resolution of bugs, vulnerabilities, and errors. It can help ensure safeguards for security and functionality of the NFTs.

The final reason to opt for testing revolves around improvements in quality and performance of the NFT smart contract code. Smart contract testing before deploying NFTs can help optimize the code to improve scalability and gas efficiency. You should also know the methods to test NFT smart contracts as effective resources for effective management of the contract and potential migrations in future. The tests also provide important documentation that can help you understand the operating mechanisms of the contract. The documentation can help new developers board the project in future with limited challenges.

Excited to learn about various applications of NFT, Check out Presentation on NFT Applications

What are the Different Types of Tests for NFT Smart Contracts?

Static or dynamic analysis and functional testing are the most common approaches to utilizing automated tools for testing Ethereum smart contracts. Here is an overview of the different tests that you can implement for NFT smart contracts.

• Functional Testing 

The most common approach for automatic testing of smart contracts is functional testing. It is one of the first answers to queries like “How do you test an NFT smart contract?” as functional testing helps you find whether the smart contract works according to your expectations.

Functional testing also helps in understanding how smart contracts would work in specific situations. You can test every function through calculations with specific values and compare the results against your expectations. Functional testing also helps other types of tests with more coverage. 

• Unit Testing 

Unit testing involves independently testing individual portions of the smart contract. The best thing about unit testing is the simplicity of the methods and clear impression of errors in the smart contract. Unit tests are crucial for smart contract development, particularly when you add new logic to smart contract code. 

On top of that, unit testing can help check the working mechanism of each function and its desired behavior. Developers can run unit tests through assertions, which are simple statements about things that smart contracts are expected to do. 

• Integration Testing 

Integration testing is one of the notable methods to test NFT smart contracts in the domain of functional testing. In this approach, smart contracts are subject to testing as a combination of their individual units. Integration testing is a useful recommendation for identifying errors that emerge during interaction between different parts of a contract or two different contracts. Integration tests are useful tools for testing NFT smart contracts with complicated designs.

• System Testing 

The curiosity to know the methods to test NFT smart contracts also draws you towards system testing. System testing is also an effective approach for testing the overall functionality of smart contracts. As a matter of fact, it is one of the integral components in the functional testing approach for smart contracts. The primary objective of system testing revolves around verifying the working of smart contracts from the perspective of users.

Curious to understand the complete smart contract development lifecycle? Enroll now in the Smart Contracts Development Course

Which Tools Can You Use to Test NFT Smart Contracts?

The next important highlight in a guide to testing NFT smart contracts draws attention toward tools. One of the most popular smart contract testing tools for NFT smart contracts is Truffle. It helps you create automated tests in Solidity or JavaScript by leveraging the Chai assertion library and Mocha testing framework. Truffle also offers a command-line interface that helps you compile, deploy, and interact with smart contracts.

Another important NFT smart contract checker tool is the Ganache local blockchain. It serves as a private Ethereum blockchain on your machine, providing an accurate simulation of network conditions and the behavior of the main network or test network. Ganache helps deploy and test NFT smart contracts without spending real gas or Ether. On top of that, Ganache offers access to different features and settings, including accounts, transactions, balances, logs, blocks, and events.

Excited to learn about non-fungible tokens and the ways to build and deploy them on the Ethereum blockchain, Enroll now in the NFT Fundamentals Course

What Should You Test in NFT Smart Contracts?

The approaches for testing NFT smart contracts depend on a wide range of factors. Anyone who wants to know the methods to test NFT smart contracts must understand how the complexity and functionality of a smart contract influence testing. You must also know about the important aspects of NFT smart contracts that you have to check in the testing process.

Developers must test the constructor, initialization, minting, and burning functions, transfer and approval functions, and metadata and enumeration functions. The testing process must also focus on the security functionalities and access control features in NFT smart contracts.

NFT smart contract testing emphasizes verification of name, symbol, total supply of tokens, base URI, assignment of token IDs, and creation and destruction of NFTs. Developers must also check the NFT smart contracts for modifiers, roles, and permissions for specific functions and reverting messages to prevent invalid or unauthorized actions. 

Learn more about the basics of NFT (Non-Fungible Token) and the practical implications of non-fungible tokens through NFTs Skill Path

Important Things You Must Consider for NFT Smart Contract Testing 

If you want to test NFT smart contracts, then you must pay attention to certain aspects. First of all, you must have a reliable test case design that covers all possible scenarios. For example, you must ensure that the contract tests both scenarios where the condition is fulfilled and the one where it isn’t.

Developers must also consider the use of mock contracts to replicate the behavior of other contracts during NFT contract testing. It helps in verifying the functionality of NFT smart contracts that have to interact with other contracts. NFT smart contract security audits are another crucial aspect of the testing process. 

You must take a look at the existing state of NFT security with the growing burden of financial losses due to security threats for non-fungible tokens. It is important to regularly scan your contracts to determine potential security vulnerabilities by leveraging tools such as Mythril or Slither.

Final Words

The necessity of NFT smart contract testing has become an important highlight for the emerging web3 landscape. NFTs have the potential to transform digital asset ownership without being limited to artwork and in-game collectibles. However, it is important to use the best smart contract testing tools and methods recommended by experts to check the functionality of smart contracts.

Developers can use tests to verify the functionality and security of NFT smart contracts. On top of that, the tests can help create documentation that could help new developers. Learn more about NFT fundamentals and how to ensure their security against emerging security threats.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post Know the methods to test NFT Smart Contracts appeared first on 101 Blockchains.

You can find two broad categories in an NFT tools list that can help you make the most of the unique virtual assets. The rising number of NFT collections and their growing popularity can encourage anyone to dive into the world of NFTs. However, it is important to know about the right options before you place your money on them. Let us take a look at some of the most notable NFT tools that you should watch out for in 2024.

Exploring the Fundamentals of NFTs

Non-fungible tokens are unique assets that are stored in the form of smart contracts on any blockchain network. The code in the smart contract verifies the ownership of digital or physical assets, alongside establishing a clear line of provenance. Before you look for the best NFT tools, it is important to know why NFTs are one of the most valuable resources. The most prominent trait of NFTs is that they can prove ownership and do not require intermediaries. On top of it, rarity of NFTs is also a notable aspect that ensures a unique valuation for each NFT.

Want to get an in-depth understanding of non-fungible tokens (NFTs)? Enroll now in the NFT Fundamentals Course

What are NFT Tools?

The biggest concern on your minds right now must be about the selection of NFT tools. What are the best tools NFT users can rely on? What is the purpose of NFT tools? There are many layers to the definition of NFT tools, as you wouldn’t find a specific category of tools. On the contrary, you can find different types of NFT tools with unique uses. One of the most popular categories of NFT tools includes NFT analytics tools. They are useful for comprehensive research on NFT listings and help in uncovering insights that can lead you to the right NFTs.

Another group of NFT tools includes the NFT creation tools that help you generate new non-fungible tokens. You can use the tools to come up with exclusively new virtual assets that can catch the attention of buyers and collectors. With the help of creation tools, you can generate NFTs by channeling your creativity and talent in the right ways. You don’t have to worry about the technicalities of NFTs or write code for the smart contracts to create NFTs. The right tools can help you create non-fungible tokens like a professional.

Similarly, analytics tools can help you identify the best NFTs with comprehensive insights. You can use the top NFT tools for analytics to learn about the current price of the NFT, its rarity, and the platforms where you can find it. While Discord, X (formerly Twitter), and YouTube are the top platforms to conduct research on NFTs, analytics platforms are one step ahead. The personalized insights on NFT collections help identify the best course of action in the domain of non-fungible tokens.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

What are the Top Tools for NFT Creation?

The most important advantage of NFT creation tools is the opportunity for businesses to enter a growing market. On top of it, the tools help in simplifying the complex process required to mint and manage NFTs, thereby saving money and time. The creation tools also offer the benefit of complete creative control over your NFTs. Here are some of the top tools that you can use to create new NFTs.

• Fotor NFT Creator

One of the first additions among NFT generators is the Fotor NFT Creator. It is useful for image editing and NFT generation. The tool offers photo editing, graphic design, and collage creation features with flexibility for tokenization of their work. The app also offers social media integration, thereby helping artists with effective promotion of their artwork.

• SketchAR

The next entry in an NFT tools list that you should use to generate new NFTs is SketchAR. It is an AI-based app that helps you create artwork and mint them in the form of NFTs. The tool is an ideal option for beginners as well as seasoned artists. You can find a drawing feature with SketchAR alongside augmented reality tools to help you improve the final output.

• Mintable 

Another popular addition among tools NFT creators can use without any confusion is Mintable. It is a web-based minting tool that helps all creators in developing their art. One of the most critical strengths of the tool is the simplicity of using it and navigating through different features. NFT creators can use their e-wallets to manage and transfer their artworks.

• Async

Async is also one of the trusted tools for creating non-fungible tokens that can offer a wide range of features. The platform serves a community that allows members to dictate the course of the NFT creation process. Members of the community can develop NFTs with tokenized layers that can change appearance. 

• NFTify 

The list of NFT creation tools also includes NFTify, a Platform as a Service or PaaS solution for NFT generation. It is a no-code NFT marketplace builder, along with other concierge services. While it does not help you create NFTs, it helps in generating an NFT marketplace or storefront for listing and selling NFTs.

Build your identity as a certified blockchain expert with 101 Blockchains’ Blockchain Certifications designed to provide enhanced career prospects.

What are the Best NFT Analytics Tools?

NFT analytics tools make a huge difference in the way they encourage participation in the NFT market. You can find many new NFT projects arriving in the market regularly. However, it is difficult for anyone to stay updated with latest news in the industry without automated analysis tools. Here is an overview of the most popular NFT analytics tools that you must consider before diving into NFTs.

• NFT OnChained 

NFT OnChained is a reliable tool that helps in tracking underpriced listings for non-fungible tokens. The platform is one of the best choices for finding answers to the question “Which is the most popular NFT?” which you can grab at low prices. NFT OnChained utilizes machine learning to find out the existing fair value of non-fungible tokens. The price estimates derived by NFT OnChained for each NFT focus on rarity, market data, traits, and other critical factors. One of the primary features of the platform is ‘Screener,’ which showcases the list of most underpriced NFTs in all the collections it tracks.

• Icy Tools

Icy Tools is also one of the popular NFT tools that can help you decide which NFT you should buy or sell. Upon opening the platform, you will notice the ‘Trending Collections’ section, where you will find trending NFTs from the previous day. Upon connecting your wallet, Icy Tools can also help you filter the ranking of trending NFT collections for last 15 to 30 minutes. The user-friendly interface of Icy Tools also highlights information such as floor price, volume, average price, and sales.

• Upcoming NFT 

Upcoming NFT is one of the best NFT tools that can help you know about all the upcoming NFT drops. The platform helps you learn about upcoming NFT projects, auctions, events, giveaways, and drops. On top of that, you can also view the NFT project listings according to their popularity and the time required to add the project. Interestingly, Upcoming NFT can serve the benefits of promoting your NFT projects and bagging better deals.

• Rarity Tools

Another interesting addition among NFT analytics tools for you would be Rarity Tools. When you want to buy an NFT, you must think about its rarity to get the best value. Rarity Tools helps you track and evaluate the NFT ecosystem. Most important of all, it can also help in sorting all the NFTs according to their average price, volume in ETH, and collections they belong to. The unique detail of Rarity Tools is the assignment of a rarity score to any non-fungible token that can help investors make the right decision.

• Moby 

You can also find a ‘not-so-popular’ option to find answers to the question “Which is the most popular NFT?” in Moby. It has been away from the limelight despite having effective NFT tracking features. The best thing about the tool is that it provides faster access to NFT statistics and live feeds in real-time.

Moby can serve as a valuable asset for all NFT traders, alongside supporting them with effective monitoring of their assets. Users can also subscribe to Moby Pro version and access all data charts alongside better data analysis functionalities. For example, you can access more relevant data such as real-time feeds, NFT signals, historical collection data, and many other data points.

Learn more about the basics of NFT (Non-Fungible Token) and the practical implications of non-fungible tokens through NFTs Skill Path

Final Words

The review of top NFT tools in two categories showcases how the NFT landscape is evolving with diverse additions. Anyone who wants to enter the world of NFTs can either choose to create NFTs or invest in them. You can use NFT tools to create digital assets without any knowledge of coding.

On the other hand, you can also choose the most effective NFTs without previous experience in investment. The right NFT analytics tools can help you monitor existing collections and stay updated with upcoming arrivals. As a result, you can become an active participant in the NFT ecosystem with the right NFT tools by your side. 

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post Best Non-Fungible Token (NFT) Tools appeared first on 101 Blockchains.

Solana offers an environment that is economically viable and welcomes creators as well as collectors with faster transaction speeds and lower gas fees. The Solana ecosystem includes a curated collection of Solana NFT marketplaces that focus on aspects such as project quality, community engagement, features, transaction volume, and wallet support. Let us learn more about the NFT ecosystem on Solana in the following discussion.

Overview of NFT Ecosystem on Solana Blockchain

The first thing you need to explore the potential for NFTs on Solana is an overview of the NFT ecosystem that has developed on Solana blockchain. You can find answers to questions like “Can Solana be used for NFTs?” in the low fees and higher throughput. It is the ideal platform to mint, sell, and trade non-fungible tokens at scale.

With more than 110 million NFTs minted on Solana blockchain as of now, it has become a hit in the world of web3. The Solana website claims that you can find reference implementations for NFT projects. In addition, the ecosystem projects on Solana blockchain offer resources to launch non-fungible tokens on Solana.

The other prominent reasons to mint NFTs on Solana include the on-chain experience, unique NFT standard, permanent storage, and cost-effectiveness.

Solana supports embedding perpetual royalties and auction mechanisms directly into the NFT. It offers a completely decentralized on-chain experience for collectors and artists.

NFT creators can focus on their artwork rather than the technicalities of smart contracts. The prominent advantage of Solana non-fungible tokens is the Solana NFT standard and minting program. It offers full customizability alongside assurance of support from the Solana ecosystem.

Another notable advantage of non-fungible tokens on Solana is the assurance of permanent storage. It allows you to choose the ideal web3 storage option for NFT projects. For example, you can choose popular options such as IPFS or permanent, decentralized storage solutions such as ARweave.

The most prominent reason for the rise of Solana projects is the assurance of inexpensive services alongside scalability. Creators can develop better and more engaging customer relationships at cost-effective prices. In addition, state compression also offers the flexibility to mint thousands and even millions of NFTs within a few hundred dollars.

Master the concepts of Solana security and the best practices for creating NFTs on Solana with Solana Development Course.

What are the Popular NFT Marketplaces for Solana NFTs?

The next crucial advantage of Solana is the support of secondary marketplaces. You can choose your desired NFT marketplace on Solana to buy, sell, and bid for NFTs from the ecosystem. Here is an overview of the notable NFT marketplaces that you can find in the Solana ecosystem.

• Tensor

Tensor is a prominent marketplace for Solana non-fungible tokens and serves the requirements of professional and casual traders. It includes advanced features, such as market-making orders and floor price charts, with a completely decentralized experience. In addition, it also includes fun games, such as YOLO Buy, that offer an interactive experience for all users.

• Magic Eden

The Magic Eden launchpad is a trusted product and service that fuels the rise of NFTs in Solana by simplifying the minting process. Creators can mint NFT collections on Solana without any technical knowledge.

• Hyperspace

Hyperspace is the most popular Solana NFT marketplace and aggregator. It offers a seamless experience of trading NFTs seamlessly across different Solana marketplaces. Users can have a completely new experience of browsing through NFT collections and collecting their favorite NFTs.

• Solanart

Solanart is another secondary marketplace that offers seamless access to NFT collections. It offers flexibility for exploring, buying and selling NFTs from different collections and artists.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

What are the Key Highlights of Solana NFTs?

The overview of Solana’s NFT ecosystem, including the secondary marketplaces, proves how Solana has become a prominent name in the domain of NFTs. You can find many other reasons to mint NFTs on Solana apart from its inherent features. Here are some of the unique features of Solana non-fungible tokens that set them apart in the NFT ecosystem.

• Fractional Ownership

Solana non-fungible tokens offer fractional ownership, which serves as a useful feature for democratizing access to NFTs. Multiple individuals can share ownership of high-value NFTs by breaking down barriers to entry. Fractional ownership in Solana NFT projects ensures accessibility of premium NFTs to a broader audience. It plays a vital role in transformation of the NFT market by offering opportunities for casual investors to invest in valuable NFTs.

• Assurance of Security

The next important trait of Solana non-fungible tokens is the assurance of enhancements in security. Solana offers a massive collection of robust security features that ensure safeguards against fraud and theft. Collectors and creators can trade NFTs seamlessly without the fear of malicious activities and unauthorized access. Solana offers security protocols that allow users to participate in the NFT space with confidence.

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• Value of Interoperability

Another crucial aspect in responses to “Can Solana be used for NFTs?” is interoperability. Solana non-fungible tokens offer seamless integration with different types of blockchain networks. The benefits of interoperability encourage cross-platform collaboration and trading that would lead to new prospects for NFT collectors and creators.

Interoperability can help Solana non-fungible tokens expand beyond the limitations of one blockchain network. It would enable the expansion of NFT ecosystems throughout different blockchain networks, alongside expanding the scope for trade and innovation.

• Programmability for Customization

Smart contracts are one of the core elements in the design of NFTs. However, they have a prominent setback in the form of immutability, which makes it impossible to change the content of the NFT. The best highlight of  Solana is the facility of programmable smart contracts.

Creators can use the programmable smart contracts to include royalties and obtain rightful compensation for their efforts. It would also promote transparency and fairness in the NFT ecosystem, thereby allowing creators to obtain benefits from appreciation of value of their work.

• Scalability Guarantees Expansion

Solana blockchain also stands out as a top choice for developing NFTs right now as it guarantees formidable improvements in scalability. It has the capacity for effortless management of a continuously growing collection of NFTs without compromises in speed or efficiency. Scalability of Solana NFT ecosystem ensures that it can adapt to the growing demand for NFTs. At the same time, Solana also maintains a seamless user experience with faster transaction processing.

Want to get an in-depth understanding of non-fungible tokens (NFTs)? Enroll now in NFT Fundamentals Course

What are the Top Non-fungible Tokens in the Solana Ecosystem?

Solana has gained momentum in the NFT space with a commitment to improving scalability, efficiency, and customization. The review of listings on an NFT marketplace on Solana can help you understand how Solana has become a juggernaut in the NFT industry. Here is an outline of some of the top NFTs on Solana and their unique highlights.

• Degenerate Ape Academy

The Degenerate Ape Academy is a pioneering NFT collection on Solana blockchain, with 10,000 unique 3D apes that have their distinct attire and expressions. It has emerged as a major force among the 3D collections in the Solana ecosystem. Every ape in the Degenerate Ape Academy collection is a creative entity.

The collection also follows an engaging storyline set in the background of Dingus Forest. Most important of all, the Degenerative Ape Academy uses a structured hierarchy system. The hierarchy includes nine defining traits, which define the rarity level of each ape.

• Claynosaurz

Another notable addition among Solana non-fungible tokens is Claynosaurz. The NFT collection includes 10,000 unique NFTs and has grabbed the attention of crypto communities in a short time. The collection is set in the backdrop of a prehistoric world, where users have to discover lost artifacts in uncharted territories. As of now, more than 3000 unique addresses are owned by Claynosaurz NFTs. In addition, it is also available on all major marketplaces, such as Solanart, Tensor, Magic Eden, and Hadeswap.

• Okay Bears

The next addition among the top NFTs in the Solana ecosystem is Okay Bears. It also includes 10,000 unique bears with distinctive traits. Okay Bears are generated algorithmically and serve a new benchmark in the domain of non-fungible tokens. The key features of Okay Bears make them one of the unique Solana projects with a widespread appeal.

For example, the bears in the collection are created with the help of algorithms to incorporate unique traits, such as background colors, expressions, and outfits. Okay Bears emerged as a prominent highlight in the NFT landscape by generating almost $18 million in sales upon launch. It also offers additional utility in the form of access to exclusive merchandise and access to live events. The inclusive nature of Okay Bears NFT collection makes it better than the high-priced NFT collections.

• Portals

You can also notice how Solana pave the path toward growth of the metaverse. Portals have emerged as a crucial player in bridging the gap between Solana and the virtual universe. It is not just another project to mint NFTs on Solana as it aims to open the doors to immersive metaverse experiences on Solana.

The distinct ownership approach, alongside dedication to community engagement, enables Portals to reshape the virtual ecosystem. Portals offer a different approach than the traditional virtual real estate-based NFT collections by offering 5000 access key cards. The keys allow owners access to customized and pre-furnished spaces in the Portals metaverse.

• Mad Lads

The list of pioneering NFT projects in the Solana ecosystem also includes Mad Lads. It has played a vital role in empowering the growth of xNFTs on Solana blockchain. The project offered a new perspective on questions like “Can Solana be used for NFTs?” by using an innovative approach to PFP or profile picture NFTs.

It has been created by Coral for Backpack, an xNFT operating system on Solana, capable of setting new standards. The collection has a unique retro aesthetic featuring different types of artwork based on robotic, alien, and human characters. The robust infrastructure of the NFT collection also proves its capability to adapt to the emerging changes in the NFT space.

Learn more about the basics of NFT (Non-Fungible Token) and the practical implications of non-fungible tokens through NFTs Skill Path

Significance of NFT Extensions for Solana NFTs

NFT extensions develop on top of the Solana native token standard and introduce additional layers of interactivity and functionality. The extensions are not only add-ons but also introduce fundamental improvements that expand the utility of NFTs on the platform. Every NFT marketplace on Solana can capitalize on the assurance of modularity with NFT extensions to welcome a broad range of NFT projects. Developers can leverage the modularity of NFT extensions to add the selected features that suit their projects.

NFT extensions can help introduce privacy features, new fee structures, and new governance models in NFT collections on Solana. It can help in ensuring critical enhancements for empowering new utilities in Solana non-fungible tokens. As a matter of fact, many Solana NFT extension projects have already spread waves in the web3 community.

For example, Confidential Transfers and Transfer Hooks have proved the breadth of possibilities offered by the Solana extensions. It helps in hiding transaction amounts and balances to offer better financial privacy. NFT extensions can serve as a crucial component for driving Solana NFT ecosystem towards the future.

Get familiar with the basic and advanced Non-Fungible Token (NFT) terms with the NFT Flashcards

Final Words

Solana has created ripples in the blockchain and web3 world by delivering the advantages of better cost-efficiency and faster transactions. As a matter of fact, it has emerged as a formidable challenger to Ethereum blockchain for web3 development. Therefore, it is important to understand how Solana NFT projects can shape the future of non-fungible tokens.

The Solana ecosystem opens a new space for innovation, with some of the notable projects exhibiting new traits and utilities. Solana also aims to take NFT beyond the conventional identity of digital collectibles. Learn more about the Solana blockchain and its architecture to understand how it offers support for NFT development.

*Disclaimer:  The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Do your own research and make sure you read our full Disclaimer.

The post NFTs on Solana: Exploring Non-Fungible Tokens in the Solana Ecosystem appeared first on 101 Blockchains.

With the rising popularity of emerging technologies like blockchain and virtual currencies, the future of non-fungible tokens is highly promising. The immense popularity of NFTs has given rise to new career pathways. If you have an interest in non-fungible tokens, you must definitely consider obtaining an NFT professional certification.

What are non-fungible tokens?

Before getting to know about NFT Certification Benefits, you need to have a clear understanding of non-fungible tokens. Non-fungible tokens, which are commonly known as NFTs, have distinguishing properties that give them a unique identity. Due to this feature, one cannot replace or interchange NFTs. In the highly unpredictable and uncertain cyber domain, the irreplaceability feature makes NFTs a highly valuable and promising invention. Some of the key features of NFTs are:

• NFTs are digital assets that help represent the internet or digital collectibles. 
• One cannot manipulate or forge NFTs in any manner. 
• It is possible to exchange NFTs by using cryptocurrencies such as Bitcoins. 
• The NFTs are tokenized through a blockchain.
• NFTs are indivisible, implying that they cannot be broken down into smaller units.
• It is possible to trade NFTs across a diverse range of platforms by utilizing the same blockchain standards. 

Within a short span of time, NFTs have gained immense popularity in the online community. Due to the high relevance of these digital assets, obtaining NFT certification has become a necessity for anyone who wants to take up NFT as a professional path.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

Application of NFTs

Although the concept of NFTs is relatively new, it has shown immense potential. Within a short span of time, the application of NFTs is evident in diverse industries and domains. If you want to become an NFT professional, you must know the areas where NFTs have made their mark. The insight can surely help you gain a deeper insight into the potential of NFTs. 

• Digital content 

In the digital content realm, NFTs have made a significant contribution. Thanks to the existence of NFTs, digital content creators are able to enhance their profits. NFTs make it possible for digital content creators to have ownership over their content. 

• In-game items and commodities 

NFTs have been able to create immense value for members of the online gaming community. Typically, players purchase items for their characters in online games. However, with the help of NFTs, it is also possible for players to recoup the money by selling the items.

• Collaterals and investments 

An individual has the option to use NFTs as collaterals in the crypto universe. The NFT loan has become a reality right now. It helps borrowers to obtain loans by leveraging their non-fungible tokens. 

The utility of NFTs in diverse settings has made them an immensely sought-after invention in recent times. As NFTs have high significance in the technology-driven domain, they have given rise to a new career pathway. By enrolling in an NFT professional certification program and obtaining a certificate, you can use your skills in diverse industries. Thus, an NFT professional certificate will act as the ticket that can help you reach new professional heights.

Excited to learn about various applications of NFT, Check out Presentation on NFT Applications

Understanding the importance of NFT Professional Certification

Non-fungible tokens have emerged as one of the most promising and trending technological concepts today. If you want to have a career in the NFT landscape, you need to join an NFT professional certification program. Are you wondering – What is the use of NFT certificate? Then, the answer to the question is that it will serve as a groundbreaking credential for you. With the help of the certificate, you can take a plunge into the highly potential NFT setting and leverage your skills to the fullest.

If you want to make a mark in the NFT arena, now is the right time to learn about NFT certification. The certification program will serve as a foundation and help you learn the basics about non-fungible tokens. You can broaden your insight on how NGTs work, their advantages, use cases, and ways of using them in the real-world setting. 

Furthermore, you can gain knowledge on risks and challenges relating to NFTs. You can learn about the best practices that can give you a competitive edge over others. Hence, an NFT certificate can create an opportunity for you to capitalize on the rewarding opportunities that come your way.

Want to get an in-depth understanding of non-fungible tokens (NFTs)? Enroll now in NFT Fundamentals Course

Benefits of NFT Professional Certification

An NFT professional certification has the potential to give rise to a host of benefits for you. One of the fundamental NFT certification advantages is that it will validate your knowledge, skill and prowess in the area. Importantly, you can use the certificate as the ultimate weapon to advance in your career as an NFT professional. If you are wondering about the ultimate benefits of NFT certification, the answer to the question is right here.

• Holistic understanding of NFTs 

Before taking the plunge into the domain of NFTs, it is imperative to have a solid understanding of the subject. As a matter of fact, an NFT certification will ensure that all your basics on NFTs are clear. You will get an opportunity to understand the underlying technologies relating to NFTs, trading strategies, and broader implications of NFTs. Thus, an NFT certification will serve as a stepping stone that can help you reach your professional dreams. 

• Better career opportunities 

In these competitive and dynamic times, an NFT certification can give you a competitive edge over others. In the first place, the certification can validate your knowledge and expertise in the area, thereby placing you in a favorable position in the eyes of your potential employers. That’s not all! By obtaining the certificate, your career graph can expand exponentially. In other words, you can work in diverse areas such as NFT trading, digital asset consultation, and many more. Hence, it can give a boost to your career aspirations. 

• Recognition in the industry 

In the dynamic digital asset industry, an NFT professional certification is of immense value. Unquestionably, the certification serves as a symbol of commitment as well as dedication to staying ahead in the arena of NFT. Furthermore, it signifies that you have updated yourself about the latest NFT trends and innovations. By obtaining NFT certification, your worth as an NFT professional can be enhanced.

• Staying updated about NFTs 

An NFT certification can serve as a platform and enable you to update your knowledge and insight into non-fungible tokens. It should be noted that in these highly dynamic times, technology is undergoing change at a rapid pace. By enrolling in an NFT Professional Certification program, you can learn about the latest happenings in NFTs. Moreover, you can also broaden your insights into other areas, such as community engagement, the latest platforms, etc.

Build your identity as a certified blockchain expert with 101 Blockchains’ Blockchain Certifications designed to provide enhanced career prospects.

Key roles and responsibilities in the NFT space 

The NFT domain has undergone exponential growth in a short time. The rapid advancement and application of the NFT in diverse areas have been shaping the roles and responsibilities of NFT professionals. An NFT certification can add value for you regardless of the role that you play in the professional setting. Some of the main job roles that where NFT certification can add value include:

• NFT Analyst 

An NFT analyst is mainly responsible for analyzing the market trends and user behavior in the NFT domain. Indeed, by obtaining an NFT certification, you can leverage your skills relating to data analysis and market research. Moreover, your know-how relating to NFT metrics can be of great assistance to you. 

• NFT Project Manager 

If you want to become a competent NFT Project Manager in the future, you must obtain an NFT certification. It will guide you to oversee diverse NFT-related projects. You can take advantage of your solid conceptual understanding and technical skills to lead projects toward success. 

• Community Manager 

Obtaining NFT certification can add value for professionals who want to take up the role of community manager. Besides, the certification can help handle diverse responsibilities, including building and engaging with community members. Solid insight into NFTs can help you improve trust and comprehension among community members.

• Digital content creator 

If you are passionate about creating digital content, NFT certification is ideal for you. The insight that you will gain through the certification can assist you in content creation and earning money. The icing on the cake is that you can also become a reliable influencer with a stable number of followers. 

NFT certification is of paramount importance in the prevailing digital landscape. If you want to make a mark in the NFT domain as a competent professional, you must definitely consider obtaining NFT certification. Irrespective of the specific role that you play in the NFT space, the certification can add value for you. Moreover, it can surely elevate your skills and expertise in your area of work. It can empower you to carry out your duties and responsibilities with competence and confidence.

Learn more about the basics of NFT (Non-Fungible Token) and the practical implications of non-fungible tokens through NFTs Skill Path

NFT as a career option

In the current era, NFT is one of the most attractive career options that one can wish for. In the non-fungible token realm, an NFT professional certification can act as the perfect instrument to advance in your career. The skills, knowledge, and insight that you can acquire from the course can change your career trajectory for the better. Whether you choose to work in the technical or non-technical area, the certification can give you a competitive advantage. If you want to seize the amazing career opportunities that the NFT space offers, you must equip yourself with an NFT certification. 

The rising popularity of NFTs has led to an increase in demand for professionals who possess an NFT certification. By having a certification, you can definitely make a mark on employers. You can surely take advantage of the certification to progress toward your dream career. That is not all! 

You will also get the opportunity to apply your learned skills in a real-world setting and grow as a competent NFT professional. If you are passionate about making a career in the NFT domain, you certainly must earn an NFT certification. Without a doubt, once you have the certificate, there is no looking back for you. The decision to obtain the certificate can certainly give rise to new avenues for you as a professional.

Excited to build your career in NFTs, Check out presentation on How to Start a Career in the NFT Space now

Conclusion 

An NFT professional certification can give rise to a plethora of benefits for you in the NFT realm. The significance of the certification is high since it can help you reach new heights in your career. As you can see, the application of NFTs is expanding in diverse areas. It has led to an increase in demand for professionals with a solid NFT background. An NFT professional certification can serve as a validation of your skills and competencies in the area. It can help you stand out in the NFT arena, and potential employers will view you favorably. 

NFT Certification can give rise to several benefits for you, including a holistic understanding of NFTs, better career opportunities, recognition in the industry, and staying updated about NFTs. Moreover, an NFT Certification can be of high value, regardless of the role that you choose in the NFT space. The knowledge that you will acquire can help you build your career from strength to strength. 

As the use and popularity of NFTs are on the rise, it is time to take advantage of the situation and advance towards your passion. By obtaining a professional certification, the pathway to a bright and prosperous NFT career can open for you. The decision to obtain an NFT certification will certainly serve as a major landmark in your professional career. 

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post Exploring the Benefits of Obtaining NFT Professional Certification appeared first on 101 Blockchains.

Non-fungible tokens have become one of the top favorites for digital asset adoption in different industries. How does the gaming industry leverage NFTs? One of the most prominent answers to such questions points to the ways in which NFTs enable ownership and trading of in-game assets and characters. Let us find out more about the role of NFTs in the gaming industry beyond serving unique representations of collectibles.

What Do You Know About NFT Games?

The first thing that comes to mind about NFT gaming is the assumption that such games would be hyper-realistic and include advanced 3D graphics. However, an NFT gaming platforms list would help you understand that they are special games that utilize NFTs for representing digital assets.

Non-fungible tokens are unique digital tokens stored on blockchain networks, which ensure cryptographic security and transparency in transactions. NFT games are just like traditional video games, albeit with a major difference. The distinctive highlight of NFT games is the flexibility for players to purchase, sell, and trade in-game assets in the form of NFTs. 

NFTs could represent almost any type of asset in the games, such as virtual land, skins, characters, collectibles, and weapons. Why? NFTs are unique and ensure that every asset in the game is a one-of-a-kind asset that would improve scarcity. It also develops a sense of ownership that is not present in the case of traditional gaming. The answers to “What are the best NFT gaming platforms?” would lead you to diverse responses. You can find different types of NFT games, including RPGs and first-person shooters, and can enjoy them on different platforms or devices.

Want to get an in-depth understanding of non-fungible tokens (NFTs)? Enroll now in the NFT Fundamentals Course.

Popularity of NFTs in Gaming 

If you think that NFTs are popular in gaming only because they provide unique collectibles, then you need to think twice. The growing popularity of NFTs is clear proof of different utilities guaranteed by NFTs in the gaming industry. First of all, you must know that NFTs in the gaming industry generated revenue of $4.5 billion in 2021. 

Almost every tech enthusiast has learned about gaming NFT marketplace and its benefits. The sudden surge in popularity of gaming NFTs is the ability to transform players into decision-makers. NFTs don’t just tell you that you own a collectible. They actually give you ownership of the collectibles and other assets in the games, including your gaming experiences.

You can uncover the unique highlights of NFT games and how they help you explore diverse use cases by learning about the differences with traditional games. With conventional games, all you could earn was some moments of fun and pleasure. However, NFT games can give you the opportunity to earn real financial rewards. As a matter of fact, NFTs serve as the foundations of building play-to-earn and play-to-own games. 

Non-fungible tokens could help in earning digital assets that you can swap for real value. You can rent the NFTs on a gaming NFT marketplace and earn in cryptocurrency or fiat currency. Most important of all, NFTs have become a symbol of social status in the digital landscape. Here are some of the popular NFT games that have caught the attention of the world.

• Axie Infinity 

Axie Infinity is a game with Pokemon-like characters that are represented as NFTs on the blockchain. It is one of the notable NFT projects with a complex economic ecosystem and simple gameplay mechanics. As a matter of fact, it was one of the driving factors for addressing the problem of unemployment in Philippines during the COVID-19 pandemic. 

• Illuvium

Another popular addition to an NFT gaming platforms list is Illuvium, a 3D NFT game with battle-style gameplay. The concept of the game involves chasing and capturing deity-like creatures. Most important of all, it is the first game that leverages ETH to create a high-end gameplay experience. Illuvium has also sold digital real estate in the form of NFTs for over $72 million in June 2022. Therefore, it is reasonable to believe that NFT games are not all about crypto collectibles.

What Do Companies Have to Gain from NFT Game Development?

The growing interest of many companies in NFT game development has boosted curiosity regarding their motivations. Non-fungible tokens can help in transforming major gaming industry metrics. As a matter of fact, NFTs have the potential to transform the gaming industry completely. With the right way to implement NFTs in game development, organizations can achieve the following advantages. 

• Number of Users 

The most prominent reason to adopt NFT gaming platforms is the assurance of growth in the number of active users. Games are more likely to take interest in NFT games owing to the different benefits beyond crypto collectibles. For example, the NFT metaverse platform Alien Worlds garnered more users than other leading blockchain-based games such as Splinterlands.

• Concurrent Users

NFT games could also have more concurrent users or a total number of people interacting with the game simultaneously. It is also important to note that NFT games have dedicated followers who look forward to new releases. The popularity of NFT games registers new benchmarks in the gaming industry for the number of concurrent users. 

• Customer Retention Rate

Another notable factor for considering gaming NFT marketplace development is the assurance of customer retention. Customer retention rate could help in identifying how many users love playing the game continuously for a specific period of time. Interestingly, NFT games have an average customer retention rate of 75%, which is significantly higher than traditional games. Non-fungible tokens can offer ideal incentives for loyalty of customers and help in turning them into brand ambassadors of NFT games.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

How Will NFT Gaming Platforms Help in Exploring Diverse Benefits?

NFT games could help in exploring diversity beyond crypto collectibles with multiple advantages. Here is an overview of the different value benefits of NFT games for players. 

• Ownership and Authenticity

The most common theme in answers to ‘What are the best NFT gaming platforms?’ would point towards ownership and authenticity. Most people think that NFTs in games would offer a unique representation of collectibles with a ‘crypto’ element for distinctive specialization. Non-fungible tokens give complete ownership of digital assets to players and they could also control the assets. You can notice a massive difference with conventional gaming platforms, where in-game assets belong to the gaming platform.

With NFT games, the digital assets are stored on blockchain. Players could transfer, trade, or sell NFTs across different platforms and games, which ensures that players have true ownership over game assets. In addition, NFTs could help in proving the rarity and authenticity of the in-game assets. For example, players could earn valuable NFT collectibles and use them as per their wish, like selling on a NFT marketplace or using the collectible in another game.

Get familiar with the basic and advanced Non-Fungible Token (NFT) terms with the NFT Flashcards

• New Avenues for Creativity

The best way in which top NFT games could offer diverse benefits is the opportunity for creativity. Non-fungible tokens can help players in creating and customizing their digital assets. It is important to note that a gaming NFT marketplace could grow only through listing unique NFTs.

Where will the new NFTs come from? The answer would point toward the power of players for creating and customizing their digital assets. Players could mint NFTs from any type of digital content, including images, audio files, and video files. The NFTs could prove uniqueness on the basis of their distinctive traits and metadata. 

Players could explore the opportunities for becoming game creators by designing their custom game characters, environments, or items. In addition, NFTs also allow the flexibility to share digital assets with other developers or players. For example, you can create a unique NFT character and use it for different games. In addition, you can also share it with other developers in return for a licensing fee. The benefits of customization in NFTs open new avenues for creativity and serve as effective tools for boosting the NFT ecosystem further.

Build your identity as a certified blockchain expert with 101 Blockchains’ Blockchain Certifications designed to provide enhanced career prospects.

• Explosion of Play-to-Earn and Play-to-Own Games

NFT game development also showcases the potential for creating new types of games, such as play-to-earn and play-to-own games. The responses to “What are the best NFT gaming platforms?” would point to the sporadic growth of new variants of NFT games. You can find that majority of NFT games follow the play-to-earn model, which incentivizes players for their contributions to the game or participation. For example, you might earn valuable NFTs as a player for completing a specific task or playing the game for a certain amount of time.

On the other hand, the pitfalls with play-to-earn model have paved the path for arrival of play-to-own games. The new play-to-own model aims to resolve the pitfalls associated with play-to-earn games, particularly in terms of gameplay. Play-to-earn games focus primarily on financial incentives, which make the gameplay experience similar to competition for grabbing the best deals. 

Over the course of time, such games are likely to lose their charm. However, play-to-own games give a new definition to NFT gaming platforms by introducing intuitive gameplay. Play-to-own would help in creating games that not only help players leverage the benefits of NFT incentives but also enjoy the games.

Excited to learn about the differences between the play and earn and P2E games? Check out a detailed guide in How Play and Earn are Better Than Play to Earn now

• Metaverse Development 

Another prominent reason for which NFT games can help in exploring diversity beyond crypto collectibles is the facility of metaverse games. NFT games could enter the domain of metaverse easily as they utilize the technological power of blockchain. NFT games have actually provided the predecessors to metaverse game development. Non-fungible tokens can serve as an effective tool in metaverse games and drive the world towards a digital future in gaming. 

As a matter of fact, NFTs in the metaverse could help in connecting many other industries with gaming. For example, video games could connect directly with fashion, events, music, and art in the metaverse. Let us assume that you have a gaming NFT marketplace on the metaverse for a specific game. Players could use NFTs for decorating a specific character with trending fashion by choosing NFT clothing and accessories from a virtual store of a fashion brand in the metaverse.

Want to get an in-depth understanding of metaverse concepts? Enroll now in the Metaverse Fundamentals Course

• Bridging the Gap between Reality and Virtual Worlds

The best thing about NFT games is the option for bridging the gap between real and virtual worlds. Have you played FIFA on console or your PC? It is a popular game worldwide and has ardent fans all over the world. Players spend hours on the game for pleasure and the fun of playing with friends. The special collectibles earned in the game come with a unique sense of achievement known only to those who have played FIFA. However, the reward and collectibles earned in the game are of no use to the player other than showing off their FIFA skills to friends. 

With NFTs, players could use a collectible jersey in the game as a valuable asset for auction. It would be like earning the jersey in the real world and fetching the right value for it according to your preferences. NFTs could present many other opportunities for the future by bringing items and clothes from virtual worlds into the physical world.

Learn more about the basics of NFT (Non-Fungible Token) and the practical implications of non-fungible tokens through NFTs SKill Path

Conclusion 

The outline of value advantages associated with NFT gaming platforms provides a clear impression of their utility. It is important to understand that NFT games were created for something more than just offering unique crypto collectibles. First of all, NFT games offer an exclusive advantage for players with complete control over their game assets and experiences. NFT games could also bridge the gap between real and virtual worlds alongside opening up new opportunities for economic benefits. Learn more about the different value advantages of NFT games and discover how you can build one right now.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post NFT Gaming Platforms: Exploring Diversity Beyond Crypto Collectibles appeared first on 101 Blockchains.

Solana has emerged as a promising solution to the problems of scalability and interoperability with Ethereum blockchain. Interestingly, Solana offers unique tools to help you with NFT development. For example, the Metaplex Candy Machine could help in creating NFTs on Solana within a few minutes. Let us find out more about the easiest step-by-step guide to creating NFTs on Solana blockchain.

Fundamentals of NFTs

Before moving further, it is important to reflect on the basics of NFTs and how they work. You can find answers to ‘Why should I create NFTs on Solana?’ by exploring the value of non-fungible tokens. NFTs or non-fungible tokens are unique crypto assets that have their own distinct on-chain signature. 

If you want to build NFT marketplace on Solana, then you must know about the use of NFTs. Non-fungible tokens can serve as representatives of digital art, certificates, virtual collectibles, online tickets, and proof of ownership on blockchain networks. You must know that NFTs are not limited to a few unique images on the internet. 

Misconceptions regarding the utility of NFTs have led to the rise of projects without any clear definition of utility. The actual value of NFTs is visible in how they can verify the uniqueness of a specific asset with cryptographic proof. Before creating Solana NFT projects, you should know that NFTs are available in different forms, such as MP3s, PDFs, JPEGs, MP4s, and PNGs. However, the files serve as the tangible aspects of the NFTs, which anyone could copy like other digital files. The real value of NFTs is in the cryptographic signature. Even if two NFTs have the same file, you can notice uniqueness of on-chain data. 

You must also note that the file types mentioned previously are too large for blockchain storage. Therefore, you would have to rely on decentralized storage solutions for such NFT files. Subsequently, the NFT metadata includes links to the files in decentralized storage, and the NFT metadata goes to on-chain storage. 

When you would use the Solana NFT maker tool, you would mint the NFTs or store the NFT metadata with unique cryptographic identifiers on the chain. If you want to create an NFT, then you would need an on-chain transaction. In addition, the details included in the NFT metadata would also differ according to the type of NFT standard. It is also important to remember that you have to include certain mandatory metadata details while some parameters are optional.

Want to get an in-depth understanding of non-fungible tokens (NFTs)? Enroll now in the NFT Fundamentals Course

Reasons to Use Solana for Creating NFTs

The discussion on creating NFTs with Solana blockchain would also require emphasis on the reasons for using Solana for creating NFTs. The answers to “How do I start an NFT project on Solana?” would draw your attention towards Solana and its value advantages. Solana is a popular non-EVM blockchain with the advantage of flexible programmability. As a non-EVM blockchain, Solana does not use tools like the ones you would find in Ethereum. For example, you can find different development tools in Solana and you cannot use Metamask in Solana. 

Most important of all, Solana has its unique variations of smart contracts or programs. Solana programs work in the same way as Ethereum smart contracts. The ‘programs’ in Solana ensure that applications work in accordance with predefined rules. Solana programs can achieve the same by executing predefined actions upon fulfillment of predefined conditions. You can build NFT marketplace on Solana or create new collections with the help of Solana programs. 

Interestingly, Solana programs are one of the dedicated NFT mint tools in Solana. In addition, Solana also provides another reason for developing NFTs with its independent token standard. Solana does not adhere to the ERC-721 and ERC-1155 standards for NFT development. On the contrary, it uses the SPL token standard for representing non-fungible tokens on the Solana chain. 

The prominent advantages of Solana programs and SPL token standard provide enough reasons to consider the use of Solana for NFT development. In addition, Solana also offers the assurance of low transaction fees alongside high speed, which can support NFT development projects. However, it is also important to learn about the significance of Metaplex in providing opportunities for NFT development on Solana. 

Master the concepts of Solana security and the best practices for creating NFTs on Solana with Solana Development Course.

What is the Use of Metaplex in Solana NFT Development?

Metaplex is a renowned NFT ecosystem that features marketplaces, games, arts, and collectibles. You can use the Metaplex protocol for Solana NFT projects to access different tools and standards for the development process. Most important of all, Metaplex also offers a solution for creating NFTs on Solana in a completely decentralized manner. You can think of Metaplex as a combination of different smart contracts and tools that provide flexible ways for creating NFTs. Metaplex provides access to two popular tools, such as the NFT Candy Machine and Metaplex Storefront.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

Step-by-Step Guide for Creating NFTs on Solana 

You must be curious about the use of tools for flexible NFT development. Interestingly, the answers for ‘How do I start an NFT project on Solana?’ would direct you towards NFT Candy Machine. It is one of the most powerful tools that provide an easy way to create NFTs on Solana. Here is a detailed guide to the different steps for creating NFTs on Solana.

• Configuration of Candy Machine V2

The first step to create NFT on Solana starts with the use of different tools. You would need important tools such as Git, NodeJS, TS-node, and the ‘yarn’ package manager. NodeJS can work as the JavaScript runtime. Yarn package manager could help in installation of required dependencies. Git can help in cloning the repository of code for creating NFTs. On top of it, the TS-node or TypeScript node would work as the execution environment. Once you have set up these tools, you would have to clone and install Metaplex through GitHub. 

• Creation of Solana Wallet 

In the second step, you would have to focus on the importance of a Solana wallet. Why would you need a Solana wallet for creating NFTs? The wallet is an important requirement for execution of on-chain transactions to facilitate NFT minting. You can use a Solana NFT maker only if you have an adequate amount of SOL coins to cover the transaction fees required for minting NFTs. Interestingly, you can rely on the Solana tool suite for creating a local wallet without any major complications. However, it is important to remember that local wallets are vulnerable to secure threats and should be used only for development purposes. 

Developers can interact with the local Solana wallet by using commands such as

solana –version

solana address

solana balance

Developers must focus on minting dummy NFTs on the Solana devnet without using real SOL tokens. On the contrary, you can utilize ‘test’ SOL tokens. You can get the test SOL tokens by using the command ‘solana airdrop 2’. It is also important to remember that you would need real SOL tokens for using the NFT Candy Machine on Solana mainnet. 

• Configuration of Candy Machine 

Once you have created the Solana wallet and added two test SOL tokens, you can open the cloned project. You can build NFT marketplace on Solana mainnet by using GitHub repositories for the clone. The ideal place to start would involve finding out the location of the ‘example-candy-machine-upload-config.json’ file. You could also rely on Arweave for storing the NFT files. On the other hand, you can also explore many other options for configuration of Candy Machine. Arweave is only one of the particular configurations that offer easiest approach for creating NFTs. 

• Preparation of NFT Assets and Metadata for Creating NFTs

Even if you follow the simplest steps to create NFT on Solana, you would have to develop NFT files and metadata. With the right skills and knowledge, you can develop the assets on your own. On the contrary, you can also utilize example assets for creating NFT assets and metadata. You can find JSON files in the metadata of each NFT, and the image files can be represented as JPEGs and PNGs. You must also check the details of the JSON files to learn more about the NFT files and metadata. 

• Uploading NFT Files and Metadata

The next step in developing Solana NFT projects includes uploading your NFT files and metadata. You would have to utilize the ‘upload’ command to achieve the task of uploading NFT files and metadata. The command helps in uploading NFT images and JSON files in the metadata to the decentralized storage solution of your choice. 

In addition, you can choose the command lines available in the Metaplex documentation with relevant modifications in the paths to suit your project requirements. You can conclude this step by deploying an instance of Candy Machine on the Solana devnet alongside uploading all the assets.

• Creation of the NFT Collection 

With almost everything ready to create your NFTs on Solana, you need only a specific command line in the Metaplex docs. You can modify the command line to align with the path of your NFT development project. It is important to remember that the ‘Candy Machine Collection’ command could help in preparing a collection of your NFTs. 

You would also have the chance to assign your NFTs to the collection in the minting phase. Finally, you would have to verify the uploading of assets through Metaplex. Even if the upload verification process is not mandatory, you should complete it to ensure proper uploading of all your assets.

• Minting the NFTs 

The final step in the process of using the Solana NFT maker tools for creating your NFT collection involves NFT minting. You can create NFTs by copying the required command from Metaplex docs and changing it according to your file paths. In addition, it is important to note that you would have two distinct options for minting NFTs with Metaplex. 

First of all, you can go for individual minting of Solana NFTs. On the other hand, you can also opt for batch or bulk minting of NFTs. The facility of batch or bulk minting helps in creating multiple NFTs within a single transaction. Once you have created the NFT collection successfully, you can take a look at them in the Solana devnet or explorer.

Explore the Possibilities of Creating Compressed NFTs

The most unique highlight of using Solana for creating NFTs is the facility to create compressed NFTs. You can find unique responses to “How do I start an NFT project on Solana?” in the form of compressed NFTs. Compressed NFTs involve the use of Merkle trees and state compression for reducing the storage cost of NFTs. 

Rather than storing the metadata of NFTs in a Solana account, compressed NFTs use the ledger for metadata storage. As a result, the compressed NFTs can capitalize on the benefits of speed and security with the Solana blockchain. At the same time, compressed NFTs also support the reduction of overall storage costs. Most important of all, compressed NFTs follow the same structure for metadata as the uncompressed NFTs. 

Get familiar with the basic and advanced Non-Fungible Token (NFT) terms with the NFT Flashcards

Final Words

The review of steps to create Solana NFT projects shows that you can rely on Metaplex and Candy Machine to achieve your objective. Candy Machine is a promising tool that removes the technical jargon from the NFT development process. On top of it, the Solana blockchain offers multiple advantages for the creation of NFT collections. 

For example, it offers the benefits of low transaction fees and faster transaction finality. You can also explore the chances of creating compressed NFTs for saving costs with Solana NFT development. However, it is important to move beyond example NFTs for creating your own NFT collections with Solana. Learn more about the fundamentals of Solana and its different components to figure out the best practices for creating NFT collections on the Solana blockchain.   

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post A Step-by-Step Guide to Create NFTs on Solana appeared first on 101 Blockchains.

Do you know that NFTs sell for millions of dollars? On the other hand, the majority of NFTs sell for an average price of $200. However, non-fungible tokens are the core components of the emerging web3 ecosystem. NFTs have the ability to provide verifiable proof of ownership and identity. Let us learn more about the best practices for developing NFT projects with better chances for success.

Significance of NFT Development

NFT development offers a new avenue for businesses to develop, mint, and manage NFTs in their digital transformation strategies. Non-fungible tokens serve as unique identifiers, which makes them different from traditional collectibles or physical items. The popularity of successful NFT projects encourages businesses to use them in their marketing strategies.

For example, NFTs can help in launching digital solutions such as music albums, artworks, and eBooks as marketing tools. NFTs could help ensure that businesses could have unique rights over their assets. In addition, business owners could also share them with other agents in the blockchain ecosystem.

You can find the answer to “What is NFT project” in the growing popularity of digital assets. The NFT project could be a collectible for representing ownership of digital assets or a new collection of animated characters. Businesses want to leverage NFTs to increase the value of digital assets. Therefore, the demand for NFT development professionals will also increase by considerable margins in the future.

Excited to develop an in-depth understanding of solidity’s best practices and the tools needed for developing and testing an NFT marketplace, Enroll now in the NFT Development Course

Best Practices for NFT Development

The widespread popularity of NFTs in gaming, sports, and art has served as vital opportunities for inspiring communities alongside increasing engagement. If you want to find out how to make a successful NFT project, then you must know that leaders must take some critical decisions at each step. What are the distinct stages of NFT development lifecycle? Here is an overview of the important steps for building NFT projects with descriptions of important business questions and technical factors at each stage.

1. Find the Use Case of the Project

The first step in developing your NFT project is the selection of an ideal use case for the project. Non-fungible tokens are a cultural asset and rely on hype in popular culture. The story and utility of an NFT project are prominent factors for informing branding decisions of NFT projects.

In addition, you must also focus on technical factors and approaches for attracting users to the project. The first stage of developing NFT projects involves asking questions like “What makes a good NFT project?” and identifying the target audience. You must have a clear impression of the objectives of the NFT project. Furthermore, you must be aware of the utility it serves for the target audience.

The important business considerations in the first stage of building an NFT project focus on establishing a compelling brand. NFT projects with a strong brand value could last longer, and their utility could play a major role in attracting users alongside encouraging evangelism about the project. You can build NFT project for a specific target audience to gain faster traction and find more users. The purpose or utility of the NFT project is the major highlight for gaining interest, and it helps in developing a strong brand.

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2. Select a Blockchain Network

The second step in developing NFT projects focuses on a selection of the blockchain network. If you want to create NFT art or a collection, then you must choose a blockchain network. However, it is important to note that every blockchain has a unique user base and comes with different tradeoffs. For example, the factors required for choosing a blockchain network include speed, scalability, cost, and security.

On top of it, you must also check the ease of development on the blockchain network. It is important to check the simplicity of developing NFT projects on a specific blockchain. Furthermore, successful NFT projects must also have optimal gas fees for users interested in minting NFTs. Another question for choosing a blockchain to develop your NFT project focuses on support for listing the NFTs on different marketplaces.

The important business considerations for the second stage of developing NFT projects begin with the credibility of the blockchain network. Anyone who wants to know about “creating my own NFT” should look for established chains that offer resilient and tested infrastructure.

Developers must also look for the facility of developer tooling with the blockchain network of their choice, which enables faster project launches. At the same time, it is important to note that blockchain platforms that charge more gas fees could create more barriers to entry.

On the other hand, high fees on a blockchain network also imply a larger and more active user base on the network. The business considerations for choosing a blockchain network to develop NFTs also focus on the need for NFT marketplaces. It is important to note that most of the NFT marketplaces offer support for a few blockchain networks only.

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• Technical Factors for Selection of Blockchain Network

The selection of a blockchain network also requires a review of the technical factors. You can find out how to make a successful NFT project by identifying the coding language of the blockchain. Most of the popular blockchains feature robust and proven infrastructures along with the facility of developer tooling that could facilitate faster project launches. On the other hand, blockchain networks are also becoming more competitive with the growing number of projects.

It is also important to look out for unproven consensus mechanisms that could increase the chances of forking in blockchain. Forked blockchains could create problems for NFT projects in terms of uniqueness of the project. In addition, NFT development best practices also rely on verification of smart contract functionality.

You must look for the facility of protocol-level safeguards for smart contracts alongside the flexibility for smart contract design on the blockchain network. Limitations for smart contract functionality on the blockchain network could impose the burden of in-house infrastructure development.

3. Designing the Non-fungible Tokens

The third step in the process of building your NFT project focuses on designing your NFTs. What is the ideal design for your NFT project? Most of the design questions like “What makes a good NFT project?” would reflect on the theme and utility of every NFT.

In addition, the design of the NFT project would depend on the type of non-fungible tokens you want to create. Some of the crucial questions about the design of NFTs include the features and utility of the NFT tailored for users. At the same time, it is important to identify the rights of NFT owners in a specific project before designing non-fungible tokens.

The crucial business questions for design of an effective NFT project focus on offering rare NFT tiers which could provide access to exclusive features. You must also note that rare NFT traits could help in generating value through unique and high-quality designs. When you build NFT project, the design phase is most likely to focus on utility of the non-fungible token project.

The emphasis on NFT utility could lead to limitations for growth of the project in the short term. However, it also leads to a more sustainable path for ensuring continuous addition of value for NFT holders. It is also important to note that clear specifications for NFT ownership rights could increase user trust and demand for the project. NFT developers must explore the feasibility of global copyright standards for specific NFT use cases.

• Technical Factors Underlying the Design of NFT Projects

The design of NFT projects must also account for technical factors like secure implementation and NFT metadata storage. People who want to find the best approaches for ‘creating my own NFT’ should also pay attention to technical factors like dynamic NFT triggers.

NFT metadata storage is a notable concern in the design phase of any project, as different types of storage have certain setbacks. On-chain storage offers permanent storage, albeit with higher costs. On the other hand, low-cost off-chain storage solutions could present risks to safety. Therefore, decentralized storage solutions like IPFS could serve as the best choice for NFT metadata storage.

Smart contracts would come into play once again in the design of NFT projects as they help in representing ownership of digital assets on blockchain networks. Therefore, it is important to create NFT art or other tokenized assets with attention to smart contract vulnerabilities and errors. On top of it, NFT developers must also choose the right oracles for addressing the needs of dynamically changing NFT metadata. The right oracles could help secure access to external data alongside triggering changes.

Learn more about the fundamentals of NFTs with the highly interactive NFT Skill Path.

4. Develop a Minting Structure

The discussions about ‘what is NFT project’ would be incomplete without references to a minting structure. A transparent and fair NFT minting structure helps in establishing the identity of the NFT project. It also helps in improving the perception of legitimacy of the project.

The business questions for determining the minting structure of successful NFT projects revolve around defining the base mint price. Developers should also find out the possible ways to achieve initial traction and the effective measures for improving user confidence.

The other important concerns for the minting structure include the addition of a vetting process and introduction of an allowlist. A comprehensive vetting process could help in reducing bot activity in your NFT project. It could also provide safeguards against inflated secondary markets that emerge from concentrated ownership of majority of NFTs in a project.

You can find how to make a successful NFT project with an allowlist featuring presale access. It could help in encouraging the involvement of early adopters in the NFT project, albeit with risks for reducing demand according to the implementation. The lower minting prices could provide opportunities for better growth while imposing a direct impact on revenue streams of the project.

• Technical Factors for Designing the Minting Structure

When you design the minting structure for NFT projects, you should look for technical factors such as minting costs, random mints, and airdrops alongside commit-reveal schemes. Random mints and airdrops must also come with verifiable transparency and randomness expected by web3 users.

The answers to “what makes a good NFT project” would also point to optimization of smart contracts to ensure lower minting costs. Developers can also use a commit-reveal scheme for randomizing NFT metadata after minting a collection to reduce the incentives for malicious action.

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How Does Community Growth Influence NFT Development?

The important considerations to build NFT project with better chances of success also include references to community growth. A successful NFT collection is distinguishable by its thriving community. Most important of all, community growth offers new avenues for continuous expansion of the project. Developers should think about the important tools and best practices for attracting new users to the project. On top of it, you must also identify the ideal methods for communicating the vision for your project to users and other stakeholders.

Another important recommendation for NFT developers is the adoption of effective tools and initiatives for maintaining and improving community engagement. One of the trusted tools for ensuring long-term user engagement is an official roadmap. It not only helps the community in aligning with the vision of a project but also establishes credibility for the project.

Learn about the fundamentals of NFTs, NFT marketplaces, NFT wallets, NFT projects, and real-world use cases with the NFT E-book.

Conclusion

The best practices for developing NFT projects emphasize the collection of specifications for the project and creation of a structured plan. You can study the examples of successful NFT projects and identify the key ingredients of their recipe for success. Most important of all, you should pay attention to the business considerations and technical factors underlying each stage of the project. On top of it, you should also notice the importance of community building for ensuring long-term growth of NFT projects. Learn more about the best practices for developing NFT projects with expert insights right now.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post How to Build a Successful NFT Project? appeared first on 101 Blockchains.

On the other hand, you can try cheap NFT minting techniques to overcome the complications of cost. Have you ever used Ethereum to complete a transaction? You must have come across the exorbitant gas fees associated with Ethereum alongside the high levels of network congestion. The high gas fees increase the NFT minting costs, which ultimately turns into a burden for developers, artists, and creators. 

Transaction fees are an essential component of the NFT minting costs. Interestingly, the rising gas fees on Ethereum do not have any impact on the volume of NFT trading worldwide. On the contrary, methods such as lazy minting NFT collections or using economic blockchain platforms have gained popularity. 

For example, Flow blockchain could offer an economical blockchain platform for NFT minting as it emphasizes the reduction of energy consumption. However, lazy minting has garnered a lot of attention as a cost-effective instrument for NFT minting. Let us learn more about lazy minting and how it works. 

Understanding the Cost of NFT Minting

Before you learn more about lazy minting, it is important to familiarize yourself with the NFT minting process and its costs. If you want to know how to mint NFT in cheap price, then you should know about the important components involved in the NFT minting costs. What is NFT minting? It is the process of transforming a digital file into an asset on a desired blockchain network. You can find digital files in the form of audio files, in-game assets, or art. However, the average cost for minting NFTs is one of the foremost concerns for any NFT artist. 

Users have the flexibility to mint and store any type of digital asset on the blockchain, which makes the NFT immutable. You can find easy minting processes in almost every NFT platform or marketplace, albeit with varying levels of difficulty. For example, certain marketplaces, such as OpenSea, offer a collection of tools that can simplify the NFT minting process. 

However, you could not escape the cost of creating an NFT. You can understand a description of lazy minting explained for beginners only through awareness regarding NFT minting cost. The minting cost includes different elements, such as the network fees or gas fees and the additional fees charged by the NFT platform or marketplace. 

The simplest explanation for NFT minting costs would describe them as the cost you have to pay for converting digital files into NFTs. Creators could find different minting costs on different networks. For example, you would have to pay more for minting costs on Ethereum than on Avalanche or Solana. 

Creators need a detailed understanding of minting costs to address the requirements of financial planning and budgeting. It is important to account for factors such as the type of blockchain network used for minting, additional features or services used in the minting process, and network congestion. 

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How Much Would NFT Minting Cost?

The curiosity regarding NFT minting costs is obvious for an NFT creator, developer, or artist. First of all, you must remember that NFT minting cost is not constant and could vary according to network demand. Another important reason for seeking answers to “What is lazy minting?” is the difference in cost structure of different blockchains. In some networks, you could find lower network fees, albeit with lesser popularity than others. On top of it, you could have lower minting costs when you have lesser network congestion. Here is a breakdown of the important elements that make up the total NFT minting costs. 

• Gas Fees

The gas fees or network transaction fees are the prices you pay to the network miners or validators for processing the minting transaction. 

• Smart Contract Fees

Smart contracts are an integral requirement for developing NFTs. Non-fungible tokens involving complex smart contracts can have higher minting costs as the interactions with such contracts add another layer of fees. 

• Additional Costs 

The additional costs refer to the price you have to pay for using additional services on the NFT minting platform or marketplace. For example, you may have listing fees or promotional fees on the marketplace. 

• Platform Fees

If you want to find cheap NFT minting alternatives, then you must look for NFT platforms or marketplaces that charge lower platform fees. Some platforms or marketplaces charge the platform fee for using their interface in the minting process. 

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How Does Lazy Minting Solve the Problem of High Minting Costs?

Artists and NFT creators seeking an opportunity to enter the world of non-fungible tokens have to face problems due to high minting costs. As a matter of fact, the complex process and high gas fees could be the major reasons for dissuading creators. However, lazy minting platforms have emerged as a promising solution for the problems with cost. Lazy minting provides a new alternative for minting NFTs, albeit without paying the high gas fees associated with traditional minting. The method helps in moving your digital files to the blockchain at a fraction of the cost involved in traditional methods. 

You can find a better understanding of lazy minting by reflecting on its background. The origins of lazy minting explained for beginners would showcase the primary reason for coming up with such concepts. Lazy minting was devised as a solution for the most prominent concern for NFT minting, i.e., network congestion. 

The congestion level of a network increases as more people perform transactions on the concerned blockchain network. Higher congestion levels in a blockchain network lead to an increase in gas fees, thereby increasing NFT minting costs. On the other contrary, lazy minting solves the problem by taking away the need to pay higher gas fees for NFT minting. 

The concept of lazy minting NFT focuses on minting coins at the right time. You would mint the NFTs ‘just in time’ for the purchase. Popular NFT marketplaces like OpenSea have helped in lowering the barrier to entry for NFT creators and artists. Lazy minting helps the platforms in removing the need for upfront costs. 

It was introduced in 2020, and some of the notable marketplaces, such as OpenSea and Rarible, gained massive popularity because they offered lazy minting. The concept of lazy minting became popular among NFT artists and creators within no time as they could sell their NFTs without upfront investments in gas fees.

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Working Mechanism of Lazy Minting

The next prominent highlight of lazy minting would draw attention to its working mechanism. How can you mint NFT in cheap price with lazy minting? As of now, you know that lazy minting reduces the cost as well as risk associated with NFT minting. It is an innovative alternative for creating digital assets without the need for upfront compensation. 

You should note that the network gas fees and the platform fees are the two major upfront costs associated with traditional NFT minting. In lazy minting, creators don’t have to pay money till you sell the NFT. On the contrary, the minting fee is included in the sale transaction, where the token is allocated to its buyer. Therefore, creators don’t have to push a lot of money into the NFT projects without the assurance of selling their project. 

The answers to ‘What is lazy minting?’ paint it as a cost-effective choice for minting NFTs on the blockchain. How is it different from traditional minting? The traditional minting process features a step for calling a contract, and creators should pay gas fees for publishing their NFT on the blockchain. On the contrary, lazy minting does not involve direct creation of a non-fungible token. 

The creator would make a ticket or a ‘voucher,’ which can be redeemed during the sale for retrieving the token. The ticket or ‘voucher’ contains all the important data about the actual NFT alongside the associated smart contract. Subsequently, the NFT creator must authorize the signature to prove authenticity of the voucher. 

It is important to note that the signature remains in the public domain, and it is essential to verify that the NFT was developed by the concerned creator. The signature serves as proof of authenticity of the NFT to buyers. Interestingly, the EIP-712 standard is for easier and more secure management of signed vouchers. The EIP-712 protocol serves as an important benchmark for signature of digital claim tickets. It ensures that signatures can serve as proof of validation by the smart contract of a particular network.

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Does Lazy Minting Really Empower NFT Creators?

The magic of cheap NFT minting techniques like lazy minting is evident in the approach for calling smart contracts. Creators do not have to pay for calling their tokens to the blockchain directly. On the contrary, they could authorize the token for sale with their signature without paying minting costs. 

Who pays the minting cost if the creator does not pay in lazy minting? The buyer would pay for the minting fees alongside the cost of the NFT. Since the token is on a blockchain network and buyer can store it in their wallet, lazy minting does not compromise authenticity and security. As you can notice, NFT creators would find easier entry into the NFT market and tap into the preferences of their target audience with their works. 

How Can You Lazy Mint NFTs?

The process of lazy minting seems like an easy alternative to start creating NFTs. However, you must have doubts regarding the lazy minting platforms that could deliver the best results for your expectations. You can choose OpenSea and Rarible for lazy minting. Let us find out how you can do lazy minting on these platforms in the following sections. 

• OpenSea

The biggest NFT marketplace offers a flexible platform to start lazy minting. You can begin the process by linking your Ethereum wallet to an OpenSea account. The multiple wallet options, such as Metamask, could offer an ideal answer to your requirements. In the next step of lazy minting NFT collections on OpenSea, you have to develop an OpenSea collection by selecting the “Create Collection” option in the OpenSea dashboard. 

Once you have created the first OpenSea NFT collection, you can add the logo, description, banner, and name to the collection. Subsequently, you have to choose the blockchain on which you want to deploy the NFT. The ideal choice of a blockchain for lazy minting is Polygon. Finally, you can start lazy minting by selecting the ‘Collection’ option and then the ‘Add Item’ button. 

• Rarible 

If you want to find a practical example of lazy minting explained with a description of important steps, you can refer to the steps for lazy minting on Rarible. You can sign in to the platform and link your wallet to the Rarible account. Now, select the ‘Create’ option, and you can enter the details for the NFT project. 

You could choose the ‘Free minting’ option and then select the ‘Create item’ option. Subsequently, you could use the wallet to sign free authorizations. Once you have completed these steps, you can have your NFT minted to the wallet, and it will be automatically transferred to the new owner after creation.

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Conclusion 

The review of the elements in NFT minting cost and the answers to ‘What is lazy minting?’ provided a clear impression of the necessity of lazy minting. Exorbitant gas fees and platform fees, alongside the additional costs for using special features, could impose a heavy burden on NFT creators. 

How can you find an easy way to make your name in the NFT market? The benefit of lazy minting NFT projects focuses on empowering NFT artists and creators by shifting the burden towards buyers. Learn more about the advantages and limitations of lazy minting alongside the best practices for lazy minting right now. 

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post Lazy Minting Explained: A Cheaper Way to Mint NFTs appeared first on 101 Blockchains.

Though it started off in 2014, it became a buzzword in the world in the year of 2017. As the development of NFTs continues gaining momentum, new NFT marketplaces have emerged as top platforms for trading NFTs. 

In the year 2023, the NFT trend is expected to boom as a lot of new marketplaces are opening. If someone wants to be part of the NFT culture, then he/she must access the NFT marketplaces as their gateway to buy or sell digital assets. 

As of today, there are more than dozens of NFT marketplaces, and a lot of them are focused on specific niches. If you are new to the world of NFTs, then you might be in a dilemma on what to consider before deciding which NFT marketplace you should count on for your purchase or sell. To make it easy for you to decide, here are the top NFT marketplaces for you to count on.

What Are NFT Marketplaces? How Do They Work?

Before you get along with the best NFT marketplaces, first get an idea of what these platforms actually are:

An NFT marketplace is a digital platform that can be used for buying or selling NFTs. Moreover, these platforms also allow people to store or display their NFTs and put them up for sale to others. The sellers can exchange their collections for money or cryptocurrency.

Some of the top NFT platforms enable you to mint your NFTs over the platform. The platforms charge a fee for handling the transfer of NFTs from one party to another. Every NFT marketplace has a specific set of rules, features, and SOPs on how they operate. The permitted blockchains, payment options, types of NFTs, fees, and other such rules will vary from one marketplace to another.

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Working on NFT Marketplaces

The first thing you need to use NFT marketplaces is your own account on a marketplace platform. Once you have created an account on the NFT marketplace, you can browse through all the available listings of NFTs on sale. You can also choose the desired payment methods to buy the NFTs you want on the platform. Some of the marketplaces even ask you to link your crypto wallet to pay with cryptocurrency. But most of the platforms allow you to use credit cards for payments.

Some platforms allow you to purchase NFTs at fixed prices, while others want you to bid in auctions. Upon completing the transaction, the NFT marketplace will record the same over blockchain to show the transfer of ownership for the specific digital asset or NFT.

Some of the NFT statistics that have scaled the trend for these marketplaces to boom are:

• The sales volume for the NFTs totalled up to $24.9 billion in the year 2021. It was recorded as a humongous rise from roughly $94.9 million in the year 2020.
• The number of wallets that were registered for trading NFTs was 545,000 in 2020. But by the year 2021, this count increased to 28.6 million. It shows the thriving demands of NFTs in this decade.
• The NFT market is expected to boom and generate a market size of around $80 billion by the year 2025.

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The List of Top NFT Marketplaces

If you are willing to be part of the NFT industry and start selling or owning these digital assets at the best prices possible, then you need to opt for the best NFT marketplace. To help you in this quest, here are the ten best options for you to count on:

1. OpenSea

OpenSea is one of the ancient marketplaces as far as the NFT standards are concerned. It was launched back in 2017 and is among the largest marketplaces around the world. The best thing about OpenSea is that it has a lot of popular NFTs, which include photography, music, virtual worlds, trading cards, art, and others.

There are certain core cryptocurrencies that are being used on priority over OpenSea, which include Solana, USDC, and Ethereum. Crypto payment options are highly preferred over OpenSea. The only thing you should keep in mind is that you cannot use the fiat currencies such as Rupees, Euros, or US Dollars.

Beyond that, OpenSea is also very user-friendly for all beginners in the NFT world. It is free for anyone to set up an account within a few minutes. Once done, you can now browse through all the available NFTs without any limitations. Not just that, but you can also create your own NFT over the platform.

OpenSea charges a 2.5% fee for every transaction made over the platform. If you are using Ethereum for buying or selling NFTs, then you will have to pay the gas fee as well. Gas fee is the transaction fee that one pays to the miners. To avoid this, OpenSea advises people to use Polygon for transactions. Thus, you can conclude that OpenSea is an ideal choice for all NFT beginners.

2. Rarible

Rarible enables all users to buy or sell NFTs that hold ownership of collectibles, video games, art, and others. You have the liberty to use Tezos, Flow, or Ethereum for processing the NFT transactions over the platform. It charges a 2.5% fee for each transaction, alongside the gas fees.

Even though its fee policy is nearly the same, there’s an advantage of it over OpenSea platform. Rarible allows users to process transactions using credit cards and fiat currencies alongside cryptocurrencies. Following that, one of the best things about Rarible is that it has in-house management for deciding almost everything.

Rarible created its own token and named it RARI. The RARI holders have the eligibility to vote on specific company decisions such as policy changes, feature inclusions, or others. In the year 2021, Rarible partnered with Adobe to ensure ease of protecting and verifying the metadata for the digital content, even for the NFTs.

For everyone who wants accessibility to larger networks with solid connections, Rarible can probably be the best marketplace. Moreover, it also follows a completely decentralized policy to ensure the security of users’ data and financial transactions.

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3. Jupiter Meta

Jupiter Meta is an Indian marketplace for NFTs which is based out in Chennai. It started operations in 2021 and allowed users to trade NFTs and other such creative or cultural segments. It is a very innovative NFT marketplace that emphasizes building singular metaverse environments through music, films, and games.

Currently, Jupiter Meta is working relentlessly on ‘Singara Chennai,’ which is a digital NFT art project. It is focused on showcasing the iconic items and destinations of Chennai. The art is intended to represent the food, worship places, beaches, important locations, and others in the background. And the combination of past, present & future elements will be added to the foreground.

Thus, Jupiter Meta is destined to provide you with personalized experiences while trading NFTs. They have fixed prices for the available options and do not charge any gas fee. This platform is backed by the Rubix Blockchain Level 1. Jupiter Meta has also announced the brand’s revamped image into the Web 3.0 and Metaverse.

They are claiming to use tokenomics and gamification in the extended reality architecture instead of the pure-play offering. They are bringing together all the metaverse and web 3.0 elements in a single framework, helping businesses improve their strategy for monetizing their operations. The blockchain backing these operations is 100% secure for all the users and is also sustainable.

4. BuyUCoin

BuyUCoin is a leading crypto exchange platform in India and has been in operation since 2016. It serves more than 3,50,000 users today and handles more than INR 24 billion worth of digital asset transactions. The main aim of this platform is to bring crypto into every Indian’s digital wallet.

This platform enables users to buy, sell or trade more than 33 cryptos, which includes Ripple, Ethereum, Bitcoin, and others. The best thing is this platform enables users to use UPI payments for transactions. The UI of this platform is quite similar to that of OpenSea, making it easy for even beginners to navigate across the features.

BuyUcoin lists some of the best NFT projects that are highly rewarding for anyone to hold onto. The platform only charges around 0.24% as a maker fee from the users. The best thing is that you cannot just buy or sell NFTs but can also host or be part of an auction for digital memes, art, videos, images, icons, and others as NFTs. It is one of the most user-friendly options in this entire NFT marketplace list.

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5. NFTproX

NFTproX is one of the newest NFT marketplaces that was launched in 2022 and is now providing crowdfunding services to the people. It has a user base of more than 120,000 users from around the world. It makes use of the most advanced and reliable blockchain technology, which provides the user with an opportunity to invest in various NFTs at a very low cost.

The system is protected by SSL and DDoS, and the brand offers you 24/7 customer support. The payouts here are processed daily and within the given time. There are no hidden fees or charges, as NFTproX is utterly transparent in terms of monetary rules. This platform is dedicated to motivating the artists, creators, and collectors in the world of NFTs.

6. Binance NFT

Binance NFT is one of the biggest names in the entire NFT marketplace fraternity. It is the marketplace that provides you with a plethora of artwork, gaming accessories, memorabilia, and other such digital products. Moreover, if you had the question in mind, ‘What is the best NFT marketplace to sell art?, then Binance NFT is the place for you!

The user-friendly interface of Binance NFT is what attracts users to it. Even though Binance is highly renowned, its fees are affordable. It charges just a 1% fee for the trades. As Binance is itself a big name in the Crypto space, it has its own blockchain. Thus, there’s an added advantage for the platform to thrive in the NFT arena as well.

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7. Axie Marketplace

Axie Marketplace is the online hub that is dedicated to the video game Axie Infinity. The Axies are considered mythical creatures that you can buy or train and then pitted against the Axies of other players to earn rewards.

When you are on the Axie Marketplace, the players will have the feasibility of buying new Axies, new lands, or other such items through NFTs, which they can use later in the game. Axie Infinity Tokens or Axie Shards are built over Ethereum’s blockchain. Therefore, they can be sold or bought upon a variety of NFT marketplaces or crypto exchanges.

8. SuperRare

Just like Rarible, SuperRare is also developing an NFT marketplace for all digital creators. The site consists of videos, 3D images, art, and other such items as NFTs. The collectors are only allowed to make their purchases through Ethereum.

SuperRare also announced its token with that of the same name over the Ethereum blockchain. These tokens can be used by users for finding and curating new talents over their NFT marketplace. Just like the Rarible’s NFTs, the SuperRare’s options can also be bought or sold over the OpenSea platform.

9. Bollycoin

Bollycoin is one of the connecting links between blockchain and Bollywood movies in India. It is totally devoted to Bollywood projects and attracts all Bollywood enthusiasts. Here, the Bollywood-themes NFTs are minted through movie tickets, still images, posters, souvenirs, movie clips, and others.

All the decisions for this marketplace are taken by the Bollywood community, with the use of a voting process. The users can make payments through cryptocurrency to buy these NFTs.

10. WazirX

It is yet another centralized Indian cryptocurrency platform that started its operations in 2018. It has more than 7.2 million users, and the platform was later acquired by Binance. The owners launched an NFT marketplace that was devoted dedicatedly to traditional and regional creators.

This platform is said to be a very brilliant start for beginners who want to invest in NFTs. WazirX works on the Binance smart chain network. For buying or bidding on any NFT, you must have a WRX token in the wallet. BSC blockchain is faster than that of Ethereum, and the gas fees are also lower.

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Conclusion

The outline of the most popular 10 NFTs marketplace shows that you can buy, sell, or trade your NFTs in different marketplaces. There is a wide range of NFT marketplaces available, each with its own rules, features, and focus on specific niches. You can explore and compare each and every marketplace and decide on your own which one will be a great option for you.

It is important to learn about the different features of these marketplaces and identify the specific use case as per your needs. So learn more about these marketplaces and understand how these can help you for trading your digital assets.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post Top 10 NFT Marketplaces You Should Know appeared first on 101 Blockchains.

For example, people are interested in upcoming NFT events, such as airdrops, to find a way to enter the NFT ecosystem. As of now, the total expenses in purchasing NFTs continue to extend further each year. You might wonder about the possibilities of using NFT calendars for your benefit. Learn more about an introduction to NFT calendars with the following post. 

Popularity of Non-Fungible Tokens

A few years ago, no one would have thought about purchasing digital assets for millions of dollars. However, blockchain and NFTs changed the conventional perceptions by introducing flexibility for representing different real-world assets. The real-world assets represented by NFTs could include media, artworks, in-game assets, videos, and image files. You can explore an NFT drops calendar to find information about new NFT drops. Users can share non-fungible tokens and use them across different platforms. For example, basketball fans could purchase NFTs that represent highlights of different games. 

The value propositions of a non-fungible token focus on offering freedom from intervention by large media businesses online. Non-fungible tokens have been making headlines worldwide since 2021, while they have been in existence for more years. The next NFT drop after the sale of digital artwork by Beeple at $69.3 million would have garnered significant levels of attention.

Subsequently, NFT collections such as Bored Ape Yacht Club and the trend of NFT PFPs on Twitter encouraged the hype around NFTs. As a matter of fact, non-fungible tokens have become a status symbol for internet users. Sporting an NFT PFP on Twitter is similar to a tangible premium membership card. 

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Definition of NFT Calendar

The most important highlight about an NFT calendar points directly at the definition of the term. You can find answers to ‘What is a NFT Calendar?’ with simple descriptions suggesting the functionality of NFT calendars. NFT calendars are online platforms, tools, or software that helps everyone interested in non-fungible tokens by offering updates regarding the latest NFT drops. In addition, users can also share NFT-related events or updates to learn more about the latest NFT drops. 

The NFT drops calendar feature the time and date of the NFT drops alongside a countdown for starting the drop. In addition, NFT calendars also offer a massive knowledge base that offers opportunities for learning the best practices of minting, selling, and promoting personalized non-fungible tokens. Brands could also add their new NFT drops to the calendars to increase the visibility of the drops for a broader audience base. It can help in generating additional sales for new NFT projects while helping users stay updated with the events in NFT ecosystem.   

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What are NFT Drops?

The description of the working of NFT calendars creates curiosity regarding NFT drops. How are NFT drops relevant for an NFT enthusiast? The search for the best NFT calendars is growing exponentially as NFT enthusiasts want to get their hands on the latest NFT drops. NFT drops, or airdrops, are events in which developers or a specific brand issues NFTs to a group of random or selected individuals. 

The NFT drop indicates information about the particular time and day on which it would be created. The drops would frequently offer White Lists for early access to users. Early access to NFT drops can ensure that you can acquire NFTs at lower prices, as you would be the first in line for the purchase. In addition, NFT drops also feature specific limitations on the number of NFTs you can purchase or access in the drop. On top of it, NFT airdrops also include a limit on the number of non-fungible tokens minted in the drop.

Who Should Use NFT Calendars?

Non-fungible tokens have found multiple use cases in the domain of real estate, literature, and law. In addition, non-fungible tokens are more than trendy images, with new use cases of NFTs emerging at a fast pace. The fundamentals of an NFT calendar explained in detail would help you learn how it can provide information on new NFT drops. Major businesses and emerging brands use NFT drops as an excellent marketing initiative. NFT airdrops are generally limited to a specific time window, lasting for almost a couple of days or one week. 

If you check the NFT calendar frequently, you can find notifications for the time remaining for a drop. For example, Tiffany & Co entered into a collaboration with the CryptoPunks project only for a couple of days. People could use the next NFT drop to buy NFTs at a lower cost, thereby increasing the interest of investors in NFT projects. The NFT calendar is a promising tool for the following people.

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• Artists

NFT artists have found multiple opportunities to showcase their talent to the world with the newly emerging NFT phenomenon. Artists can use the NFT calendar to provide information about NFT events and important deadlines to interested buyers. Most important of all, the NFT drops calendar of an artist can help them achieve better visibility alongside reaching a broader audience. NFT artists can use calendars to raise awareness about their projects. Artists can include information about their NFT drops in the calendar, and it would showcase the relevant information to all users. 

• Investors 

On the other side of the spectrum, you have the NFT investors or buyers. How can you use the NFT calendar as an investor? The best NFT calendars can help you identify the best projects in which you can gain an early stake. Therefore, you can explore better opportunities for flipping NFTs to earn profits with ease. NFT calendars have been gradually gaining popularity as they aim to achieve more relevance according to the existing markets. Every new NFT calendar platform wants to offer faster insights about new projects to help investors in making informed decisions.

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What are the Reasons to Use NFT Calendars?

You can track the details of NFT projects on NFT marketplaces like OpenSea and AirNFTs. However, such platforms have been tailored for purchasing and selling non-fungible tokens. You could not find any valuable information about upcoming NFT events, drops, or projects. In such cases, you can refer to the benefits of NFT airdrops for investors and artists as the primary reasons for using NFT calendars. The important reasons for using NFT calendars focus on the information they provide. 

You can use NFT calendars as a trusted resource for facilitating research about new NFT projects. On top of it, NFT calendars also serve the promising benefits of learning more about the NFT space. Most of the NFT calendar platforms offer an extensive library of information on NFT-related concepts for learning about non-fungible tokens. 

Another crucial highlight of NFT calendars is the power of communication, which helps in tracking upcoming events alongside airdrop deadlines. Creators could utilize NFT calendars as a viable opportunity for expanding the visibility of their new projects. Therefore, they could also find their way into the big leagues and extract the true economic potential of NFTs. 

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How Can You Select an NFT Calendar?

You can come across multiple alternatives, such as NFT Calendar.io, in your search for reliable NFT calendars. It is important to know about the specific factors you must keep in mind before choosing an NFT calendar. Here are the notable factors you should consider for selecting an NFT calendar. 

• Type of NFT Events

The first thing about an NFT calendar is the ability to offer information about upcoming NFT airdrops and events. However, you can get the best out of an NFT calendar only when you specify the type of NFT events you want to learn about. The responses to “What is a NFT calendar?” provide a generalized description of what you can achieve with NFT calendars. Interestingly, you can pick NFT calendars that emphasize certain events, such as NFT drops on specific blockchains or public mints. 

• Pricing 

Users should also pay attention to the pricing of an NFT calendar while choosing one. You can find some NFT calendars without any cost. On the other hand, certain NFT calendar projects charge according to different pricing models. The premium pricing models can guarantee access to curated insights about new NFT events or drops.

• Size of Target Audience

The next important factor you need to look for in an NFT calendar is the size of the audience of the platform. How many monthly active users does the NFT calendar have? The NFT drops calendar is a crucial tool for increasing visibility of NFT projects and events. Therefore, you need a calendar with more users and special facilities for increasing exposure. For example, AirNFTs can help in using exclusive NFT airdrops in return for a fee to achieve exposure to more than 100,000 on the platform’s NFT marketplace.

How Can You Use an NFT Calendar?

After you have selected an NFT calendar according to your needs, you must know how to use the platform. Interestingly, you can find a simple and straightforward process for using NFT calendars. The basic concepts of the NFT calendar explained the important functionalities you can access in NFT calendars. You can start by connecting your wallet with your wallet address and connecting the wallet through a browser extension. It is important to follow the instructions mentioned in the wallet for effective integration of the NFT calendar. 

In the next step, you can explore the calendar for NFTs that have been scheduled for release. NFT calendars can help you filter through different entries to find the next NFT drop you want in your collection. You can use different types of filters such as date, name of the artist, and other criteria for finding relevant NFTs. 

On top of it, some NFT calendars also include additional details, such as name of creator, rarity, and price. If you find an NFT that suits your preferences, you can just click on the listing and follow the relevant instructions to complete the transaction. Most important of all, go through the listings with utmost care and ensure double-verification of pricing and other project details. 

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What are the Popular NFT Calendars Now?

The value advantages of NFT calendars and the simple process of using their functionalities create curiosity regarding popular calendars. Here is an outline of some of the renowned NFT calendars with large user bases and unique functionalities. 

• NFT Calendar.io

The foremost entry among the top NFT calendars right now would be NFT Calendar.io, as it features a larger audience. In addition, it also features the advantage of user-friendliness, and it has become one of the first projects with the facility for advertising NFT events. It is an ideal pick for anyone interested in learning about the latest NFT events and airdrops.

• Nifty Drops

Nifty Drops is another powerful addition to the best NFT calendars with the facility of Android and iOS apps. It provides exclusive insights into all the upcoming NFT airdrops on different blockchain networks. The apps also show the time of NFT drops in the local time zone of users alongside offering in-app reminders.

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Conclusion 

The introduction to NFT calendars proves their significance in the growth of the NFT ecosystem. NFT calendars not only provide information about upcoming NFT events but also help you learn more about non-fungible tokens. You can rely on NFT calendars to increase the exposure of new NFT projects. Artists can expand the visibility of their projects by reaching out to a broader audience. 

On top of it, the emerging advancements in NFT calendar platforms also aim to provide additional functionalities. Learn more about non-fungible tokens and the emerging trends in the NFT market to find out how NFT calendars can help you. Explore the world of NFTs with precise insights through NFT calendars and enter the NFT ecosystem right now.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The post What Is An NFT Calendar and Why You Need To Use It? appeared first on 101 Blockchains.