Solana NFT Alliance Gathering: Pushing Solana towards Universal Contract Standards

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Odaily资深作者

2021-08-10 07:57

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In order to continue to grow, projects in the Solana ecosystem must have a unified contract standard.

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In order to continue to grow, projects in the Solana ecosystem must have a unified contract standard.

We are forming the Solana NFT Alliance to move Solana towards a common contract standard.

Solana has achieved phenomenal user growth in 2021 and has become one of the leading blockchains for decentralized computing. However, in order to continue to grow, projects in the Solana ecosystem must have a unified contract standard.

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Introduction to the Solana NFT Alliance

For this reason, Burnt Finance, along with other well-known projects built on the Solana blockchain, is forming the Solana NFT Alliance to promote common technical standards based on Solana projects.

Initial membership list:

Burnt Finance
Phantom
Bonfida
Austin Virtis
Metaplex
Solarians

Ethereum has successfully maintained its leading position, carrying the largest share of decentralized applications, and the vast majority of NFT ecological projects have also taken root on its chain.

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What is the Solana protocol standard?

As part of the open source group, NFT builders Metaplex released their Solana contract code and standards, which will serve as standards for members of the Solana NFT Alliance.

You can get more information via the link below.

https://github.com/metaplex-foundation/metaplex

There are several advantages to adopting the above contract as a standard for the broader Solana ecosystem. The contract code base provides developers with a variety of control methods. Users can participate in various auction types for standard encoded assets, while also being able to embed various key data and references to external sources into the contract. The technical advantages of adopting this standard are highlighted below.

1. The standard introduces the concept of royalties, ensuring that artists can continue to receive permanent income from their work.

2. The concept of versions can also be implemented in metadata, artists and creators can release multiple versions of their works, thus creating interesting possibilities for revenue generation and iteration of previous works.

3. The concept of MasterEditions adds more possibilities to contract standards. This establishes a "master" NFT where the user specifies the number of copies that need to be minted.

4. From the Master Edition, users can also create an Open Edition, which makes it easy to create more copies of the contract. With the open version, users can retain the minting rights and easily mint any number of tokens.

5. Open Edition and Limited Edition can be auctioned. For the public version of the auction, an unlimited number of NFTs can be minted; but for the limited version of the auction, the creator sets the maximum number.

6. Metadata allows each NFT to easily track its parent version, version number, external resources, etc.

7. By creating MasterEditions, the minter acquires the casting rights from the creator. This facilitates the transfer of minting rights for each sale and the seamless exchange of NFTs between parties.

8. NFT can also be easily created and does not necessarily need to be launched in the form of auction. Instead of turning the NFT into a MasterEdition, users can choose to simply fill in the metadata.

9. Solana-based wallets will have the possibility to incorporate NFT metadata to display NFT in their wallets.

10. Metadata allows encoded NFTs to operate independently of other contracts. However, they can be easily combined or integrated with other contracts at a later date.

Overall, the above criteria provide creators and market participants with significant control over NFT assets. Many creators can customize their NFTs for personal use, while others can make them available for auction by specifying contract functions.

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