Why Cardano?
Learn why we chose Cardano for our infrastructure
For a short but concise overview why you should build on Cardano, please check out the "7 reasons you should build on Cardano" landing page.
What is Cardano?
Cardano is a public blockchain platform. It is open-source and decentralised, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Cardano is also the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralised applications, systems, and societies.
What is unique about Cardano NFTs?
We will explain how NFTs are native assets on the Cardano blockchain and can be stored, sent, and received in the same way as ADA or any other token. How are NFTs stored on the blockchain?
The process of initially storing the NFT onto the blockchain is known as Minting. Minting an NFT requires a fully operational Cardano Node (a server connected to the blockchain) and various other technical requirements. NMKR Studio allows anyone to use our specially designed infrastructure, to Mint NFTs using an intuitive user interface.
One of the many unique differences between Cardano and all other blockchains is the ability to create, interact and destroy custom tokens in a native way. This means besides sending and receiving the official currency ADA, you can also interact with custom assets (NFTs) without the need for smart contracts.
In addition, all information regarding the NFT is stored in the Native Token Minting Transaction Metadata. With this, Cardano wallets like Nami, Daedalus and Yoroi can pull the metadata from the native assets to display the NFT in the intended form.
Once minted, can I edit the NFT?
Yes, as long as the policy in not locked, the minted NFTs can be edited.
What wallets support storing NFTs on Cardano?
NFTs are native assets on the Cardano blockchain, and therefore can be stored, sent, and received in the same way as ADA. The wallets that support NFT storage on Cardano are CC Wallet, Daedalus, Nami, and Yoroi.
How do I view the NFTs in my Wallet?
There are two methods to viewing your NFTs in your wallet.
Firstly, you can use Cardano wallets such as Nami, GeroWallet or CardWallet that allow you to see NFTs directly in your wallet.
Moreover, you have the option to utilize online tools such as Pool.pm, which showcase NFTs present in your wallet. Simply input your wallet address and the asset ID of the NFT into the search bar. The tool will then display your NFTs. It also allows you to search for policy IDs, to view entire collections.
What type of things can I mint as NFTs?
You have the flexibility to mint a wide variety of NFTs limited only by your imagination. Whether it's an asset associated with a physical item, utility tokens for token-gated access such as tickets, or any other creative concept, the metadata structure offers versatility. This makes it straightforward to incorporate specific identifiers or other customized fields and values.
As for supported file types, the platform accommodates typical formats like images, videos, and audio. Additionally, it extends support to application files such as HTML, 3D files, and PDFs, providing a comprehensive range for your NFT creations.
How do I transfer my NFT to another wallet/person?
You can send your NFT from your wallet directly to another person's wallet or another wallet that you own.
All you need to do is have an address to send it to that starts with the prefix "addr1.." which means that the receiver wallet is a Shelley era wallet and NOT on an exchange.
The next step is to ensure that you have enough ADA to cover the cost of sending the NFT. Simply enter the correct address and amount displayed in the wallet, verify with your spend password, and that's it!
Why can't I buy and store NFTs in my exchange wallet?
Currently, most of the crypto exchanges do not support Cardano Native Tokens. Using an exchange wallet will mean you will lose your NFTs, as you will likely never be able to access them.
To buy and store NFTs, you need to use a wallets like Eternl, Daedalus, Nami and CCWallet that support Cardano Native Tokens. Creating your own wallet is a very easy process and is a critical part of taking ownership of your crypto-assets. Please check out this list of wallets that are also supported in NMKR Pay!
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