# NFT Mkt (dev)

## *<mark style="color:red;">`New!`</mark>*

{% hint style="success" %}

## <mark style="color:red;">`Current`</mark> Release

{% endhint %}

{% content-ref url="...more-apps+-dev-archive/nft+" %}
[nft+](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/development/saas-experience-archive/...more-apps+-dev-archive/nft+)
{% endcontent-ref %}

<figure><img src="https://1071261174-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fvf94LWPujeVCvHrvFOc9%2Fuploads%2FkdCgGONmYEBgbeYZrb8L%2Fnft_main.png?alt=media&#x26;token=13136a23-f5ee-4aab-b8bc-af4279b57ccd" alt=""><figcaption></figcaption></figure>

## **Smart Contracts** **Networks**

<figure><img src="https://1071261174-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fvf94LWPujeVCvHrvFOc9%2Fuploads%2FiPaNbmiG0SkeBuFBQrEL%2Fnetworks.png?alt=media&#x26;token=68cc4c26-ec2e-4dc4-a711-acd2ef778041" alt=""><figcaption></figcaption></figure>

<figure><img src="https://1071261174-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fvf94LWPujeVCvHrvFOc9%2Fuploads%2FtlIEBEQGQrSRFiyclx8v%2Fsmart_contracts_for_nft_marketplace_shopzyte.png?alt=media&#x26;token=7f6ff98e-f80a-48b6-b654-76517e9d8e37" alt=""><figcaption></figcaption></figure>

## ...learn more

**What are Smart Contracts?**

* Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met.&#x20;
* They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.&#x20;
* They can also automate a workflow, triggering the next action when conditions are met.

**How Smart Contracts work?**

* Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain.&#x20;
* A network of computers executes the actions when predetermined conditions have been met and verified.&#x20;
* These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket.&#x20;
* The blockchain is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.

> **Remember!** Smart contracts are written in the coding solidity language. It is compiled as a json file and this json file is used to deploy the contracts. Smart contracts are deployed on a network i.e: Ethereum, Polygon, Soalna etc. Then this smart contract store data about the NFT.

* Within a smart contract, there can be as many stipulations as needed to satisfy the participants that the task will be completed satisfactorily.&#x20;
* To establish the terms, participants must determine how transactions and their data are represented on the blockchain...
* i.e. agree on the “if/when…then…” rules that govern those transactions, explore all possible exceptions, and define a framework for resolving disputes.
* Then the smart contract can be programmed by a developer – although increasingly, organizations that use blockchain for business provide templates, web interfaces, and other online tools to simplify structuring smart contracts.

**Minting an NFT**

* Minting an NFT means creating and listing an NFT on the blockchain via Smart Contract.&#x20;
* When an NFT is created on a blockchain and PUT on sale it means anyone can purchase that NFT by paying its **price + gas fee** by his wallet.&#x20;
* For minting an NFT you need to pay Gas Fees.

**Gas Fee**

**💡** Gas fee is the minimum charge cut by solidity functions during some action(s).

* A gas fee is a term given to transaction fees on the **blockchain network** (i.e: Ethereum, Polygon, etc.).&#x20;
* According to Ethereum’s developer pages, gas is..
  * “...*the fuel that allows the \[Ethereum network] to operate, in the same way, that a car needs gasoline to run*.”

**What is a transaction on the blockchain?**

* A transaction is a ***transfer of value*** on the blockchain.&#x20;
* In very simple terms, a transaction is when one person gives a designated amount of cryptocurrency they own to another person.&#x20;
* To perform transactions on the blockchain, you need a [wallet](https://www.ledger.com/academy/basic-basics/owning-and-using-it/how-to-keep-your-crypto-safe), a program linked with the blockchain to which only you have access, that keeps track of the crypto you own and allows you to transact with it.&#x20;
* Each wallet is protected by a special cryptographic method that uses a unique pair of distinct but connected keys: a private and a public key.

**What is a public key?**

* A public key, also known as the address, is a series of letters and numbers that a user must share in order to receive funds.&#x20;
* In contrast, a private key must be kept secret, much like your bank card pin number, as it authorizes the spending of any funds received by the associated public key.
* With their wallet, a user (i.e. whoever has the [private key](https://www.ledger.com/academy/basic-basics/owning-and-using-it/what-is-a-private-key)) can authorize or sign transactions and thereby transfer value to a new owner.&#x20;
* The transaction is then broadcast to the network to be included in the blockchain.

**Important!**

> Transactions have hash codes that can be checked on different network scanner sites. For example, you can verify Ethereum transaction hash on <https://etherscan.io/>

**What is token standards?**

* A token standard defines the smart contract and features that the token issued by it has.&#x20;
* There are many different standards on different blockchains.&#x20;
* The simplest categorization would be between fungible and non-fungible tokens.
* Over time, Ethereum has gained more and more popularity and now most NFTs are issued on this blockchain.&#x20;
* Ethereum token standards start with the abbreviation ‘ERC’ (Ethereum Request for Comments).

**💡**NFT Marketplace (Shopzyte) currently Supports ERC-721 tokens.

**The ERC Standards**

{% embed url="<https://eips.ethereum.org/EIPS/eip-721>" %}

* ERC-223 – much like ERC-20 but with a feature that ensures the tokens are only sent to compatible addresses. This prevents loss of access to the tokens since they cannot be retrieved from incompatible addresses.
* ERC-827 – allows the approval of fungible token transfers so the tokens can be spent by an on-chain third party.
* ERC-777 – an improvement on ERC-20. Users can send tokens on behalf of different addresses.
* ERC-1155 – a smart contract that allows users to manage Ethereum tokens of many types. It can contain ERC-20 or ERC-721 tokens and it works for all types of assets: fungible and non-fungible.

{% content-ref url="...more-apps+-dev-archive/nft+/erc-1155" %}
[erc-1155](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/development/saas-experience-archive/...more-apps+-dev-archive/nft+/erc-1155)
{% endcontent-ref %}

* ERC-1137 – a token standard designed for recurring payments. It works well for subscriptions requiring payments at certain intervals.
* ERC-998 – a smart contract that allows users to merge several NFTs into one NFT.
* ERC-875 – a smart contract that allows users to transfer several NFTs in a single transaction.
* ERC-865 – a smart contract that allows users to pay for a transaction with tokens instead of gas.

**What is MetaMask?**

* Most cryptocurrency users only have wallets linked to the exchanges on which they trade.&#x20;
* It resembles a typical email/password log which gives people the erroneous notion of how blockchain addresses function.
* [**MetaMask**](https://metamask.io/) is a non-custodial wallet that can be accessed from your browser or mobile and it provides you with complete control over your assets.&#x20;
* It has significant advantages and disadvantages, which we shall discuss below.
* In short, MetaMask is a cryptocurrency wallet that allows you to store, transfer and trade **ERC-20 tokens**.
* What distinguishes **MetaMask** from other wallet applications is its ability to interface with smart contract-based platforms that are live on **Ethereum** or Layer2s on Ethereum.

**...learn more**

{% content-ref url="...more-apps+-dev-archive/nft+/metamask" %}
[metamask](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/development/saas-experience-archive/...more-apps+-dev-archive/nft+/metamask)
{% endcontent-ref %}

{% hint style="warning" %}

## On-Going Development

{% endhint %}

## ERC-1155 Standard Upgrade&#x20;

* (feature released into production ETA Q2 2023)
* ***Current State available now\...***
  * No Bridge. Direct Smart Contract deployment.
  * ERC-1155 standard interface for contracts that manage multiple token types.&#x20;
  * A single deployed contract may include any combination of fungible tokens, non-fungible tokens, or other configurations (e.g. semi-fungible tokens).
  * Currently, we have built-in ERC-721 contract standards but currently, the most popular standard for minting is 1155 in which multiple editions of an NFT can be published.
* ***What we're developing...***
  * No Bridge. Direct Smart Contract deployment.
  * Existing standards such as ERC-20 require the deployment of separate contracts per token type.&#x20;
  * The ERC-721 standard’s token ID is a single non-fungible index.&#x20;
  * The group of these non-fungibles is deployed as a single contract with settings for the entire collection.&#x20;
  * In contrast, the ERC-1155 Multi Token Standard allows for each token ID to represent a new configurable token type, which may have its own metadata, supply and other attributes

## Multi-Chain Traverse Upgrade

* (feature released into production ETA Q2 2023)
* ***What we're developing...***
  * A multi-chain NFT marketplace will traverse multiple blockchains and will support trading across multiple networks.&#x20;
  * Our Product is now supported with multiple chain networks.&#x20;
  * Now our site admins can deploy multiple chains and activate them all simultaneously.
  * It will be convenient for the users to use them simultaneously.&#x20;
  * With multi-chains support unlike other marketplaces, contract deployment will be cost-efficient and very low.&#x20;
  * Our contracts are audited and are proven to be cost-efficient.&#x20;
  * Deploy on multi chains or multi networks and create NFT on all of them with ease.

{% content-ref url="../../changelog/nfts-changelog" %}
[nfts-changelog](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/changelog/nfts-changelog)
{% endcontent-ref %}

{% content-ref url="../integrations" %}
[integrations](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/development/integrations)
{% endcontent-ref %}

{% content-ref url="../../testing" %}
[testing](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/testing)
{% endcontent-ref %}

{% content-ref url="...more-apps+-dev-archive/nft+" %}
[nft+](https://nexas-ridewiz.gitbook.io/myagents.plus/product-development/development/saas-experience-archive/...more-apps+-dev-archive/nft+)
{% endcontent-ref %}

<figure><img src="https://1071261174-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fvf94LWPujeVCvHrvFOc9%2Fuploads%2FR4PVkOu0RPE6dQzATSoz%2FWelcome_hi.webp?alt=media&#x26;token=01787483-b217-4e04-baf1-48200bb3d209" alt="" width="207"><figcaption></figcaption></figure>