-
Notifications
You must be signed in to change notification settings - Fork 95
Commit
This commit does not belong to any branch on this repository, and may belong to a fork outside of the repository.
* Update nft-marketplaces.md * Create introduction.md * Create what-is-an-nft.md * Update introduction.md * Create standards.md * Create types.md * Create use-cases.md * Create components.md * Create choosing-a-standard.md * Create choosing-types.md * Create configuring-components.md * Update introduction.md * Create encyclopedia * Delete encyclopedia * Create placeholder * Add files via upload * Update introduction.md * Update config.js * Update introduction.md * Update types.md * Update types.md * Update types.md * Delete fine art.png * Update use-cases.md * Add files via upload * Update use-cases.md * Update components.md * Update choosing-a-standard.md * Update config.js * Update use-cases.md * Update introduction.md * Update components.md * Update standards.md * Update types.md * Update introduction.md * Update choosing-a-standard.md * Update choosing-types.md * Update configuring-components.md * Update config.js * Update standards.md * Update types.md * Update use-cases.md * Update components.md * Update components.md * Update choosing-a-standard.md * Update choosing-types.md * Update types.md * Update introduction.md * Update components.md * Update standards.md * Update use-cases.md * Delete what-is-an-nft.md * Update choosing-a-standard.md * Update choosing-types.md * Add files via upload * Update introduction.md * Update types.md * Update introduction.md * Update choosing-a-standard.md * Update docs/encyclopedia/part-2/choosing-a-standard.md Co-authored-by: Pancy <[email protected]> * Update docs/encyclopedia/introduction.md Co-authored-by: Pancy <[email protected]> * Update docs/encyclopedia/part-1/use-cases.md Co-authored-by: Pancy <[email protected]> * Update docs/encyclopedia/introduction.md Co-authored-by: Pancy <[email protected]> * Update docs/encyclopedia/part-1/standards.md Co-authored-by: Pancy <[email protected]> * Update types.md * Update introduction.md * Update introduction.md * Update components.md * Update use-cases.md * Update choosing-a-standard.md * Update introduction.md Co-authored-by: Pancy <[email protected]>
- Loading branch information
1 parent
d9e9369
commit 7a5348a
Showing
35 changed files
with
362 additions
and
0 deletions.
There are no files selected for viewing
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Original file line number | Diff line number | Diff line change |
---|---|---|
@@ -0,0 +1,21 @@ | ||
# Introduction | ||
|
||
![Encyclopedia of NFTs Feature Graphic](../images/encyclopedia/main-graphic-nftschool.png) | ||
|
||
Ever since Non-Fungible Tokens (NFTs) entered onto the cultural scene back in March of 2021, they have been plagued by confusion and misunderstanding. Particular types of NFTs—such as the well-known (and well-critiqued) Bored Ape Yacht Club—led many people to develop a narrow and distorted view of what is actually a very broad and interesting piece of technology. | ||
|
||
The uses cases and methods of implementing NFTs are endless, but the cultural understanding is currently stuck. Furthermore, if a person is curious enough to look beyond the surface, they might be hard-pressed to navigate what’s underneath. Because of this, we have created the Encyclopedia of NFTs — it is our hope that the following resource will help interested explorers begin to grasp what NFTs as a technology actually has to offer. | ||
|
||
The first half of this guide explains the jargon associated with NFTs as well as gives a broad overview of the landscape and industry. After reading, you’ll have a basic understanding of the different ways you could interact with the world of NFTs. From there, the second half will help you actually begin to navigate decision-making if you’re considering collecting or making NFTs yourself. This guide is not exhaustive by any means, but it should provide you with a robust foundation to build upon. | ||
|
||
Let’s dive right in! | ||
|
||
## What is an NFT? | ||
|
||
To begin, it’s important to understand what a Non-Fungible Token is at a high level. Technically speaking, **an NFT is not a picture of an ape or a pixelated punk rocker; it’s actually a unique numerical identifier governed by a smart contract that can have other data and information associated with it (such as a picture of an ape or pixelated punk rocker).** | ||
|
||
If that sounds a little fuzzy, take a moment to ask yourself, “what is a computer file?”. Most people interact with files on their laptops or smart phones every single day, but they’d be hard-pressed to articulate what exactly those files are made of. Trying to understand a non-fungible token is quite similar. In some ways, a non-fungible token is like a computer file but the file isn’t stored on a single device… it’s stored on a decentralized virtual computer that thousands of people all over the world help operate. | ||
|
||
In a similar fashion to how computer files come in several formats such as .jpg or .txt, NFTs also can come in several different formats called **Standards**. | ||
|
||
[Continue to Standards section](/encyclopedia/part-1/standards) |
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Original file line number | Diff line number | Diff line change |
---|---|---|
@@ -0,0 +1,29 @@ | ||
# Components | ||
|
||
> A component is one of the different elements that make up the technical underpinnings of an NFT. | ||
## Smart Contract | ||
A piece of software with rules, data, and functions that is deployed permanently on the blockchain. A smart contract is used to generate NFTs, and it dictates how the NFTs created with the contract will function and exist. | ||
|
||
## Token ID | ||
Each NFT minted on a contract will have a unique token ID number that distinguishes it from all the other NFTs in the collection. Often token IDs will start at 0 or 1 and count upwards, but they can also be configured in many other ways. With ERC-1155 NFTs, each single edition of an NFT won’t have a distinct token ID, but each batch of editions will. For instance, you could own 2 editions of Token ID #4, but your two editions won’t have unique IDs; you would merely own 2 copies of Token ID #4. | ||
|
||
## Metadata | ||
On a basic level, metadata defines and controls a large portion of how most NFTs work. Metadata for an NFT is typically a simple string of text formatted in a special way. It defines things like the media/image URL, the name, the creator, the description, the traits, etc. | ||
|
||
## Media | ||
If an NFT has a media component such as an image or a song, that asset must be hosted somewhere and referenced within the metadata. Due to the expectation for permanence and censorship-resistance from the NFT market, self-hosting an NFT’s media component or hosting with a centralized entity like AWS is considered a very bad practice. Hosting with a decentralized storage solution like [NFT.storage](http://NFT.storage) (powered by IPFS + Filecoin) is the best way to go. | ||
|
||
## Owner | ||
The wallet address that currently possesses the NFT, as shown on the blockchain itself. | ||
|
||
## Creator/Minter | ||
The wallet address responsible for minting the NFT from the smart contract. | ||
|
||
Below is an example of what the metadata for Token ID 1 from the Blitmap collection actually looks, followed by how the Token is displayed on Etherscan. | ||
|
||
`{"image":"https://api.blitmap.com/v1/png/1","name":"#1 - Rose","description":"Blitmap is a community crafted art collection and universe. All data is completely on chain.\n\n[blitmap.com](https://www.blitmap.com)","attributes":[{"trait_type":"Type","value":"Original"},{"trait_type":"Composition","value":"Rose (#1)"},{"trait_type":"Palette","value":"Rose (#1)"},{"trait_type":"Affinity","value":"Fire III"},{"trait_type":"Slabs","value":"◢ ◢ ◢ ◥"},{"trait_type":"Attunement","value":"Attuned"}]}` | ||
|
||
![Blitmap Rose Metadata](../../images/encyclopedia/rose.png) | ||
|
||
[Continue to next section](/encyclopedia/part-2/choosing-a-standard) |
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Original file line number | Diff line number | Diff line change |
---|---|---|
@@ -0,0 +1,14 @@ | ||
# Standards | ||
|
||
> A **token standard** is a clearly defined and widely agreed upon method for structuring and creating the technical underpinnings of an NFT. Using accepted token standards will ensure your NFTs are widely compatible and more easily trusted. Within the Ethereum ecosystem, there are two primary non-fungible token standards: ERC-721 and ERC-1155. | ||
## ERC-721 | ||
Originally proposed in 2017 via [Ethereum Improvement Proposal number 721](https://eips.ethereum.org/EIPS/eip-721) (EIP-721 for short), the ERC-721 token standard was created in 2018 to allow for non-fungible assets to be generated on the Ethereum blockchain. The summary for EIP-721 described itself as “a standard interface for non-fungible tokens, also known as deeds.” The creation and success of early NFTs like CryptoPunks and CryptoKitties were part of the inspiration for developing the ERC-721 standard; it allowed the burgeoning ecosystem to begin building on a solid foundation. Today, the ERC-721 standard is the most widely used and supported type of NFT, and it undergirds a multi-billion dollar market. | ||
|
||
* ### ERC-721A | ||
Originally created by the Azuki team for its NFT launch in January 2022, [ERC-721A](https://www.erc721a.org/) is an emerging contract standard that is built off of the ERC-721 standard but includes some improvements. According to its creators, “ERC721A is an improved implementation of the IERC721 standard that supports minting multiple tokens for close to the cost of one.” Since successfully launching with this new implementation, several other high-profile NFT projects have gone on to utilize it as well. | ||
|
||
## ERC-1155 | ||
Created half a year after the ERC-721 standard, the ERC-1155 standard was proposed in [Ethereum Improvement Proposal number 1155](https://eips.ethereum.org/EIPS/eip-1155) (EIP-1155 for short). According to the EIP’s summary, ERC-1155 is “a standard interface for contracts that manage multiple token types. A single deployed contract may include any combination of fungible tokens, non-fungible tokens or other configurations (e.g. semi-fungible tokens).” In comparison to ERC-721 tokens, ERC-1155 tokens are much more flexible and have a wider range of features. | ||
|
||
[Continue to **Types** section](/encyclopedia/part-1/types) |
Oops, something went wrong.