What is NFT metadata

What is NFT metadata?

Metadata is an integral part of NFT technologies. One of the most important components.

Knowing and using this aspect will help you, as the owner, understand what you really have or will have in the future. 

Metadata, in turn, can describe the NFT, more precisely its main properties, such as:

• Name
• Transaction history 

Also, it is important to remember that NFTs differ from each other in metadata and unique identifiers. Actually, as you already understood, “The information that makes up an asset is called metadata”.

NFT represents rarity, uniqueness. NFT tokens (assets) can be exchanged because they are characterized by their value.

NFTs as collectibles continue to attract the attention of an ever larger community, and ways to use them in different ways take on a new development vector.

Where is NFT metadata stored?

There are two methods of data storage:

1. On the network, i.e. on-chain
2. Off-net, i.e. off-chain 

Storage On-chain storage - on-chain storage indicates that all information about the NFT, including its metadata, exists on the blockchain. This method can guarantee a complete verification of the digital asset.

Off-chain storage - off-chain storage, in turn, indicates that NFT components exist off-chain.

NFT ERC Metadata Standards

– 721 Ethereum is the first and most used standard. Also, this standard requires that all NFTs have unique identifiers, that is, they meet certain requirements.

BEP-115 and BEP-721 are NFT BNB Chain standards. These standards are similar to the Ethereum standard.

Our world is becoming more digital every day. The NFT niche is expanding and spreading at an incredible rate. Therefore, metadata remains an important aspect that every user should be able to possess and understand.

The ability and the way metadata works will grow as, as we described above, “the NFT niche remains relevant” and only continues to evolve.