On-chain minting is a way of creating tokens, specifically NFTs, directly on the blockchain, implemented with metadata and smart contract both existing on the blockchain. Basically, the “information” of these NFTs are all written on the mainnet before storing it on the creator’s chosen blockchain network. This information also includes things like the transaction hash of the generated NFT, making it even more unique.
While on-chain minting is a better option than off-chain, there are drawbacks to this type of NFT creation, and this is what NFTing is trying to address with its unique On-Chain Minting feature.
The problem
On-chain minting is a feature that marketplaces are offering as it makes NFT creation more convenient to creators. However, most NFT marketplaces are storing their metadata on a decentralized file storage system like the IPFS or InterPlanetary File System. While this move saves up a lot of storage space for marketplaces and allows a seamless user experience in their platforms, the most evident drawback would be that creators and owners will lose their NFTs once decentralized file storage systems shut down. Decentralized systems also place the responsibility of data integrity and privacy with many contractors who all have varying equipment and connections — if one contractor fails, data integrity might be compromised.
Our solution
Contrary to most NFT marketplaces, NFTing is all about true ownership and will revolutionize the way NFTs are minted. NFTing will allow creators to use the platform’s back end to mint their new projects directly on the blockchain and establish custom royalties and co-creation options. Creators will be able to add metadata to their newly minted utility NFT directly on the platform and then, in the spirit of Web3, take it out to their own website or use it somewhere else, like in a game or in the metaverse.
In-website design tools will be available on the NFTing platform to empower NFT creators to unleash their creativity and be able to mint not just images but also sound, video and even GameFi utility NFTs. NFTing gives anyone and everyone the ability to conveniently design and create their NFTs no matter where, when and who they are, or the amount of funds they have.
This unique On-Chain Minting feature will soon be available on the NFTing Marketplace. As more users come and mint their NFTs on NFTing, we assure them of continued development of the feature. To know the latest updates about the NFTing marketplace, make sure to follow us on our socials.
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