How Does the Metadata in an NFT Relate to the Token Standard?
The token standard (e.g. ERC-721) defines a specific function that points to the NFT's metadata, which is typically stored off-chain (e.g. on IPFS).
The metadata is a JSON file that contains the unique attributes of the NFT, such as its name, description, image link, and other properties. The standard ensures a consistent way for wallets and marketplaces to read and display this unique information.
Glossar
Json File
Structure ⎊ A Json File, within cryptocurrency, options trading, and financial derivatives, functions as a standardized data container facilitating the transmission of complex market information and trade instructions.
Ipfs
Architecture ⎊ IPFS, the InterPlanetary File System, provides a content-addressed, peer-to-peer architecture for storing and sharing data in a distributed manner, fundamentally different from traditional location-addressed web protocols.
Unique Attributes
Framework ⎊ The concept of Unique Attributes, within cryptocurrency derivatives, options trading, and broader financial derivatives, signifies characteristics not readily apparent in traditional asset classes.
Marketplaces
Venue ⎊ Marketplaces, within the context of cryptocurrency, options trading, and financial derivatives, represent the electronic systems facilitating the matching of buy and sell orders for standardized contracts.
Nft Metadata
Provenance ⎊ Nft Metadata, within cryptocurrency and financial derivatives, establishes a verifiable record of an asset’s origin and ownership history, crucial for assessing authenticity and mitigating counterparty risk.
Wallets
Custody ⎊ Cryptocurrency wallets, in the context of derivatives trading, primarily function as secure repositories for digital assets, facilitating access and control while adhering to stringent regulatory frameworks.