What Are On Chain NFTS?
On chain NFTS are NFTS that are completely stored on the blockchain. This means that the metadata and image are stored on chain, and no additional information needs to be retrieved from a centralized server or IPFS.
The Problem with Off Chain NFTS
The problem with many of the regular NFTS is that they’re dependent on the availability of a centralized server to host the metadata files (json file) and images (jpg, png…). If this server would go away, the NFTS can’t be loaded anymore.
In this case, only the ownership of the NFT is stored on chain, the other information regarding the NFT is stored off chain.
If your NFT is stored on a centralized server, and this server goes down, you end up with a dead NFT. The nature of many of the current smart contracts does not allow the owner to change where the files are served from, so it will be difficult to update this. This means you could end up with an NFT in your wallet with no more metadata or image. It won’t have the same value anymore.
When the metadata and image are stored on the IPFS, there will be a bigger distribution network that can serve metadata and images. In this case the image and metadata can be server from multiple nodes of the IPFS network.
Another concern with off chain NFTS is the ownership. The ownership of the NFT is stored on chain, so you can always keep track of who’s the current owner of an NFT. But as the data is stored off chain, do you really own the NFT or only own a license to access the files stored on the server or IPFS?
The Advantages of On Chain NFTS
When NFTS are fully on chain, the metadata and image are stored on the blockchain and served from the smart contract directly. No additional information needs to be retrieved from any external sources.
This means that the smart contract will always have all the information needed to serve your NFT and it’s related metadata. Your NFT will always be available and the value of the NFT should never change as the information can’t be lost.
Disadvantages of On Chain NFTS
There is however also a disadvantage of having the complete NFT on chain. That is the higher gas cost. As the full data of the NFT is stored on the blockchain, the block space needed, and thus the gas cost, will be higher.
In the case of off chain NFTS, only the owner is tracked on the blockchain. For on chain NFTS all information regarding the NFT itself is stored on the blockchain as well. This means that more block space is needed and this results in a higher gas cost to mint those NFTS.
For our woma city passport NFTS we solved this by selecting Polygon as our blockchain. Polygon is a layer-2 solution on Ethereum, with much lower gas costs. A transaction only costs a few cents.
Another disadvantage of on chain NFTS is the complexity of the NFTS. Full images are not supported on the blockchain, so the image needs to be drawn by code, such as in an SVG file. This limits the artistic freedom of the artist, who’s forced to keep the NFTS more simple.
woma city passport Collection
‘woma city passport’ is a collection of unique and fully onchain NFT in Polygon Mainnet blockchain. Two types of passports are available to mint.
Premium Passport minting is limited up to 2999 NFTs and no quantity minting limit on Elite Passport before minting time is run out.
The passport holder is a ‘woma city’ founder and priority to benefit to all opportunities of the city. Whitelist on Pre-Sale, airdrop NFT’s and $WOMA token.
The wallets that mint their own passports before the pre-sale starts are added to the whitelist and they have priority right to buy in the first 1 hour of the pre-sale of $WOMA.*
Totally 18% of $WOMA token has been reserved for passport holders for airdrop…
womacity passport Opensea collection -> https://opensea.io/collection/woma-city-passport
