What Is NFT Metadata and How It Works
The NFT metadata contains information about the image, properties, characteristics, name, total supply and history of an NFT.
Non-fungible token creators can store NFT metadata on the blockchain and off-chain.
The InterPlanetary File System is a popular peer-to-peer system for storing files.
NFT users can access data about non-fungible tokens using blockchain explorers such as Etherscan and BSCscan.
Keywords: NFT metadata, InterPlanetary File System, IPFS, Etherscan, BSCscan, as ERC-72, ERC-115, BEP-721, BEP-115, NFT creators
Introduction
Non-fungible tokens (NFTs) are one of the most important digital assets in the market as they serve various purposes such as proof of ownership of physical assets. The important information that enables people to track ownership of digital and physical assets is part of the NFT metadata. This article explains how NFT metadata works, metadata standards and where it is stored.
Understanding NFT metadata
NFT metadata refers to the information about the content which a specific non-fungible token represents. As we already know, a non-fungible token is a digital asset which represents a digital or physical object and exists in different formats which include GIF, JPEG and MP4.
Having said this, the data about the NFT such as its de_script_ion, the image, properties, characteristics, name, total supply and history are contained in the metadata. Further to this, the metadata contains a LINK which people use to view the NFT. Usually, the NFT metadata exists in the Java_script_ Object Notation (JSON) format.
It is interesting to note that, even though the NFT exists on the blockchain, the file that supports it is kept off-chain. That is why the metadata contains the LINK of the supporting file. In the real sense, the metadata enables the server to store the related data efficiently and makes it very easy for people to understand and access the NFT.
It is essential for investors to know how to access the NFT metadata so that they know exactly what they are buying and holding. This is because an NFT serves as a gateway to access the underlying digital or physical asset such as music, video or piece of art.
NFT Metadata- Mintable
NFT metadata standard
There are different standards for minting the non-fungible tokens. Since the Ethereum blockchain was the first network to develop non-fungible tokens some of the standards are in the form of ERC-20 token format such as ERC-721 and ERC-115. It is the standard that makes the token an NFT and unique. As a result, each NFT has a unique identifier or unique token ID.
The ERC-115 standard is slightly different from the ERC-721 as it allows a smart contract to contain a fungible component and a non-fungible one, making it possible for various gaming protocols to create in-game currencies and items. Nevertheless, other blockchains such as the Binance Chain have similar versions of these two such as BEP-721 and BEP-115.
Two ways of storing NFT metadata
The NFT metadata can be stored either on-chain or off-chain. Factors such as cost determine where the metadata is stored.
On-chain Metadata storage
Digital creators can choose to keep the NFT metadata and the images on the blockchain. This method makes it very easy for the users to access and verify the information about the NFT. However, many projects avoid storing their NFTs on the blockchain because the images that exist in the form of JPEG files contain a lot of data and storing them on the blockchain becomes expensive. This is the reason why most NFT creators keep the NFT metadata information off-chain.
Off-chain Metadata storage
The NFT creators that store the NFT metadata off-chain usually use servers such as Google Drive or Amazon Web Services (AWS). Other projects use a decentralized file sharing network called the InterPlanetary File System (IPFS). With this system, the uploaded files which include images are shared among many nodes, making the storage very secure.
The IPFS Data storage system
As mentioned, some NFT projects choose to store their metadata on the IPFS data storage system. Basically, the InterPlanetary File System (IPFS) is the most reliable peer-to-peer file storage system on the market. It stores different types of files including those created using the ERC-721 or ERC-1155 standards.
IPFS for data storage- Flairtraining
When a project uploads a file on the IPFS system, it generates a unique code or content ID for it. The file is then stored in separate nodes which make up the peer-to-peer system. To add more security to the files some NFT creators also store it on Filecoin through NFT.Storage. This data is then sent to the NFT smart contract where the data’s URL is LINKed to the ID of the NFT.
In simple terms, the IPFS has a system of identifying each piece of data using a string of characters known as Content ID (CID) which looks as follows: Baccyeigvgzoolc4drupyhlefdp9urscrbcsqfpycc3zxiw1wctk2xjpjtx
Also, a LINK will be created between the blockchain and the IPFS which is similar to ipfs:// Baccyeigvgzoolc4drupyhlefdp9urscrbcsqfpycc3zxiw1wctk2xjpjtx.
How to find an NFT Metadata?
You can get NFT metadata through different ways depending on its standard. For exAmple, you can use the blockchain explorers such as Etherscan and BSCscan to view the NFT metadata on-chain. For the Ethereum based NFT metadata standards like ERC-115, you use Etherscan to view the metadata.
In addition, the individuals can use Etherscan to identify all the NFTs that are in their ERC-20 compliant wallets. They can also verify any transaction related to their NFTs. The people who use the Binance Smart Chain can use the BSCscan in a similar way as Etherscan.
Using Etherscan to find NFT Metadata- Cointelegraph
The users can also extract the NFT metadata using the LINK supplied in the smart contract’s details section. What is important for the individual is to have the NFT ID. They can also use the Token URIs, or Uniform Resource Identifiers to access the information about specific NFTs.
By clicking the image value in the JSON metadata output, the users can download the files that contain the data about the NFTs, including the IPFS NFT metadata, onto their computers.
As noted, you can use NFT monitoring and verification services to trace the history of NFT, its metadata and transaction history. These can help you to make informed decisions when buying or selling non-fungible tokens.
Conclusion
The NFT metadata contains the basic information about a non-fungible token. The NFT creators can store the NFT metadata on-chain or off-chain depending on their know-how and financial resources. Etherscan and BSCscan provide much detail about NFTs, enabling the users to track their transaction histories.
FAQs about NFT metadata
How do I get my NFT metadata?
You can use a blockchain explorer such as Etherscan or BSCscan to locate the NFT metadata. For the NFT based on the ERC-721 and ERC-1155, you can use Ethercan. On the other hand, you can use BSCscan for NFTs that use BEP-721 and BEP-1155 standards.
Where is NFT metadata stored?
The NFT metadata is either stored on the blockchain or off-chain depending on the preference of the creator. However, it is very expensive to store the NFTs on the blockchain because the JPEG files contain a lot of data. When storing the NFT off-chain the entire NFT or part of it exists outside the blockchain. In this case, the creator can store the data on centralized data or on decentralized servers such as the InterPlanetary File System (IPFS).
What is ERC-721 metadata?
The ERC-721 metadata is for the NFT that uses the ERC-721 standard and exists on the Ethereum network. The ERC-721 standard has several optional extensions and is split among smart contracts. You can track the metadata for the NFTs through the tokenURI, or Uniform Resource Identifier
