Basic conclusions

  • Simply put, metadata is a collection of data that describes other data. 

  • An NFT token's metadata can describe its basic characteristics, such as its name, total inventory, and transaction history. 

  • Knowledge of how NFT tokens' metadata is displayed is a core component of each NFT token, helping holders understand what they're actually purchasing. 

Let's unveil NFT tokens and learn about their advantages.

From providing ownership of digital assets to serving as access keys to essential content, such as art, music, movies and more, Non-Fungible Tokens (NFTs) have proven their potential to be an influential game changer in many fields. . Although NFT metadata may not be a buzzword in the industry yet, it is an integral part of the technology.  

Here's a quick crash course on NFT token metadata, how to store it, and how to find it. 

What is the metadata for NFT tokens?

An NFT token is a cryptographic token that is hosted on a blockchain and can represent a digital asset in the form of a JPEG, GIF, or MP4 file. Metadata is data that contains information about other data. It also helps servers process and store data more efficiently.

NFT metadata is the set of data that makes up the content of NFT tokens, usually specified in JavaScript Object Notation (JSON) format. An NFT token's metadata can describe its properties and attributes, such as name, description, transaction history, attributes, link to the hosted image, and more. Additionally, NFT token metadata can indicate the link you use to view the NFT token, whether it's an image or video. 

Where can NFT token metadata be stored?

The data that makes up an NFT token must be kept somewhere, and there are two methods used to store this data: on-chain and off-chain. 

Keeping an NFT token on-chain means that the entire NFT token, including its image and metadata, exists on the blockchain. Although this storage method can ensure users can verify all aspects of digital assets, it is not popular among digital creators or digital projects. This is because images like JPEG files contain a lot of data, and maintaining a large amount of data on a blockchain can be very expensive. In general, most creators or project teams store images of NFTs they create off-chain. 

Storing an NFT token off-chain simply means that parts of the NFT token or the entire NFT token exists outside of the blockchain. Although there are creators who choose to store their NFT tokens on a central storage server, such as Amazon Web Services (AWS) or Google Drive, most choose a decentralized server such as Open File System (IPFS), Which is a distributed file sharing network P2P (P2P). Because files uploaded to IPFS are secured across multiple nodes, this reduces their exposure to server issues. 

Metadata standards for NFT tokens

Among the various standards for creating and issuing NFT tokens, the ERC-721 standard for Ethereum is the first and most commonly used. This standard also requires that all tokens be non-fungible and have unique token identifiers — requirements that other standards do not necessarily impose. 

Another standard widely used in the field of NFT tokens is ERC-1155. This standard allows a single contract to have both tradable and non-tradable tokens, which is particularly useful for accommodating both tradable assets such as in-game currencies, and non-tradable assets such as in-game items in the gaming world of NFTs. 

BEP-721 and BEP-1155 are NFT token standards for the BNB token chain and offer similar functionality to the Ethereum standards mentioned above. To learn more about BNB Chain NFT Metadata Standards, please see our article, Introduction to BNB Chain NFT Metadata Standards.

How do you find the metadata of an NFT token?

As mentioned earlier, the metadata of an NFT token can contain information, such as attributes of the digital asset, current owner, and transaction history. For NFT tokens that follow the ERC-721 and ERC-1155 token standards, you can use Etherscan to check their metadata.

Blockchain explorers, such as Etherscan, are tools that can help users verify transaction histories, wallet addresses, metadata, smart contracts, and other on-chain NFT token data. 

To learn how to navigate Etherscan Explorer, check out our in-depth tutorial on What is EtherScan Explorer and how to use it?

Are you looking to get started with NFT tokens? Visit NFT Tokens on Binance and start discovering exclusive NFT token collections today!

Conclusion

In a world that is becoming increasingly digital, metadata as a whole is as important as the data or content it represents. Although the metadata of a digital asset is often overlooked when discussing NFT tokens, it is arguably one of its most important components.

As the foundation of one of the most popular digital asset classes, the importance of metadata is likely to increase as the NFT sector continues to evolve and its use becomes more widespread.

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