NFTs in Cardano — the current state

Isn’t he cute? Just wants to enjoy a glas of wine, no matter what. Hence the axe..

How it works

“Problems”

No standard metadata label

CardanoBits Tweet with detailed metadata information, adhering to the proposed “721" standard label
CardanoBits tweeted their new metadata structure after using reserved labels.

(Pre-)Sale

  • Minting a large amount of unique tokens before selling them requires a not negligible part of ADA. As in real life you have to invest before you sell.
  • Taking the crowdfunding approach (minting after recieving the ADA) takes a lot of trust and reputation to handle such events.
    After all, all the consumer is doing is sending some ADA to an unknown address in the hopes that he will recieve what he “bought” on a website.
  • Minting after recieving ADA takes also good management and organisational skill .
  • How do you make sure you do not oversell an token?
  • Do your system have the neccesary capacity to handle a huge amout of peak load and if not, how can you mitigate that?

Conclusion

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Alex | @ruttkowa

Alex | @ruttkowa

Munich Metal | Cardano Ambassador | I want to show how tech can help you | 🇩🇪 & 🇬🇧