What is NFT metadata and how to safely store it on the Apillon platform?
What are some NFT metadata examples, why NFT metadata storage matters, and how to easily store NFT metadata with IPFS on the Apillon…
What are some NFT metadata examples, why NFT metadata storage matters, and how to easily store NFT metadata with IPFS on the Apillon platform.
While NFTs can’t be considered a novelty on the crypto timeline anymore, many still think NFTs are all about pretty images. Not everyone is familiar with the importance of NFT metadata storage.
After the collapse of the FTX and some other cryptocurrency exchanges, NFTs that were minted on these collapsed exchanges were lost due to the missing NFT metadata files.
This could all be avoided if NFT metadata files weren’t stored on centralized servers.
In this article, you’ll find a definition of NFT metadata, NFT metadata formats, NFT metadata examples, an explanation of why we don’t store NFT metadata on-chain, and a recommendation for storing NFT metadata files in a decentralized way with IPFS. Hint: You can do it fast and easy on the Apillon platform.
Ready to get your NFT (metadata) facts straight?
NFT metadata, a crucial part of NFTs
NFTs, short for non-fungible tokens, are non-transferable data units recorded on the blockchain that allow the certification of ownership and authenticity, typically of digital files such as artworks, photos, audio files, and videos.
Arguably, the most special feature of NFTs is their uniqueness. No two NFTs are alike, which means NFTs can’t be copied, substituted, or subdivided into smaller pieces like cryptocurrency.
However, what makes an NFT unique isn’t so much the referenced visual or tangible asset that you can see in the front but rather the data that represents the asset in the back.
What is NFT metadata and why is it so important?
Since metadata is data that describes other data, NFT metadata is data that describes an NFT.
It’s a string of text and numbers that is comprised of crucial information on the referenced NFT asset.
NFT metadata includes information and the characteristics of the NFT, such as the name, description, traits or attributes, link to the image you see in the front, transaction history, and more.
This is what makes an NFT unique and it’s an integral part of the NFT itself. Without it, the NFT loses all its value.
What are some NFT metadata examples?
To help you better understand what NFT metadata is, we’ve listed some NFT metadata examples below as found on the Tofu NFT Marketplace in September 2023.
From one of the most popular collections on the Tofu NFT Marketplace, Pancake Bunnies, take a look at an NFT named Churro.
Notice how it says this NFT’s metadata is decentralized. If you click on the link in the blue square, you’ll be able to see Churro’s NFT metadata in your browser.
In the NFT metadata example below, you can see the name of this NFT, the description of the image, the IPFS link leading to the hosted image, and one attribute.
The next NFT metadata example comes from another popular NFT collection on the Tofu NFT Marketplace.
Below, you can see the corresponding metadata for Miner Ape #857. You can see the name, the (shortened) description, the Arweave link to the hosted image, the number of the edition, and the external link.
For more NFT metadata examples, you can simply browse the NFTs that are listed on NFT marketplaces — you should be able to see NFT metadata for each one.
What are some NFT metadata formats?
There are different NFT metadata formats, including XML, CSV, and JSON — it all depends on which ecosystem you want your NFT metadata format to be compatible with.
Some NFT metadata examples will contain more information about the assets they describe and some will be more scarce, but all NFT metadata examples are the same in their essence: strings of text and numbers that describe the NFTs.
Why don’t we just store NFT metadata on-chain, too?
Now that you’ve got a better idea of what NFT metadata is and you know how a real NFT metadata example looks like, let’s talk about why it’s very important how you store NFT metadata.
As you know by now, NFT metadata, including the unique ID number, is an integral part of the NFT. However, unlike the NFT that’s stored on the blockchain, NFT metadata doesn’t need to be.
This is actually one of the advantages of NFT metadata: it lets us store a part of the NFT off-chain.
But why would we even want to store part of the NFT off-chain? Because it saves money. Storing the entire NFT on-chain would be a heavy financial and technical burden.
Without NFT metadata stored off-chain, minting that simple .jpeg NFT, for example, could cost thousands of dollars on the Ethereum chain due to gas fees. While other chains, Polkadot Network included, are not as notoriously expensive, it’s still fairly unusual to store NFT metadata on-chain.
The next obvious question: How should we store NFT metadata if not on the blockchain?
Why does NFT metadata storage matter?
Since NFT metadata is an integral part of an NFT, lost NFT metadata renders your NFT worthless and useless. This means you better make sure you store your NFT metadata in a safe and reliable manner.
There are many different possibilities for storing NFT metadata files.
One way is to store NFT metadata files on a centralized server. However, the FTX collapse and similar incidents made the challenges brought on by centralized servers, exposed to single points of failure, painstakingly obvious even to the general public.
What is the best way to store NFT metadata?
Many NFT creators and NFT marketplaces are now recommending users to store NFT metadata files with IPFS, a decentralized protocol.
IPFS lets you store and pin data on the decentralized network of IPFS nodes. If one node goes down, your data is still accessible on other nodes, making it resistant to outages, data breaches, tampering, and other dangers of centralized servers.
🔎 Learn more about how the technology behind IPFS works and explore the benefits this protocol brings. 👇
How to store NFT metadata with IPFS on Apillon?
When you start creating your NFT collection on the Apillon platform, the first step will be creating and storing NFT metadata.
Unless you already have your NFT metadata files already stored online, you’ll be guided to create a CSV file where you’ll insert the characteristics and information to describe your NFT.
Thanks to Crust, your NFT metadata will be stored and pinned on IPFS in a decentralized way, giving you permanent access to what makes your NFTs unique.
🔎 For the following steps and more detailed instructions on how to create your first NFT collection on the Apillon platform, we suggest you check out our in-detail guide. 👇
Or, you can just dive in head-first and create your first fully decentralized NFT collection.
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⧓ About Apillon
The Apillon platform serves as a unified gateway to the Web3 services provided by linked Polkadot parachains. Following the multi-chain vision, Apillon powers the transition of developers to Web3, simplifying its adoption in the real economy, and expanding its versatility as the ecosystem grows. With Apillon, Web3 services are within reach for every developer, regardless of their background and experience with blockchain technology.
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