Three indispensable “technical” elements of NFT projects

Three indispensable “technical” elements of NFT projects

When the token economic ecology of the NFT project has been planned and mature, the next stage should start to prepare some more specific technical elements, mainly: information channels, trading platforms and smart contracts (Smart Contract).

Information channel

In the NFT world, Discord is the most popular community platform, and building a complete Discord server (which can be understood as building a community) is the first step to stand firm on this platform. Specifically, there are roughly the following three processes:

1) Set up different channels: such as “announcements” for releasing official news, “official links” for placing URL links for the convenience of users, and various chat channels, etc. In addition, in order to avoid confusion due to too many channels, they must be accurately named and properly classified;

2) Rights management: If the NFT project itself has different rights and interests, the Discord channel should also be arranged accordingly, and members with certain identities and levels can only enter specific channels;

3) Robot (Bot): For real person verification, canned message reply, voting, etc. for new entrants, you can write programs and let the robot do it for you.

However, it should be noted that the above is only the hardware content of building a Discord server. How to maintain the discussion in the community, gather the centripetal force of users, etc., and turn the platform into a gathering place for NFT Development Company holders, depends on what you put in it. Mind and time.

Trading platform

How to ensure the smoothness of the sale process is a big challenge for every NFT project party. A little carelessness can make all the preparations in advance go to waste at any time.

As the world’s largest NFT trading platform, OpenSea is familiar to everyone, but in fact, in addition to the usual interface used for trading, OpenSea also has a testnet for technical developers to test: not only You can list NFTs like a real platform, and you can connect your wallet and receive test coins to complete the entire trading process.

Practice makes perfect, if the project party can make good use of this testnet and practice operations through simulation tests to ensure that all settings are properly set and the entire process is smooth, it will be beneficial to the entire NFT project.

smart contract

First of all, it should be noted that not every NFT project needs to develop its own smart contract. There is no absolute standard for this, and it should depend on the scale and nature of the project.

If you choose to use a ready-made smart contract and sell it in the form of “Lazy Mint”, that is, put the NFT on the platform, and the buyer will pay the miner fee when the transaction is completed. more, but the cost will be relatively low. On the contrary, if they decide to develop an exclusive smart contract, the project party can enjoy greater freedom, but the content to be considered will also increase accordingly: the choice of public chain, contract structure, content writing, etc., all need careful planning; The website (Mint site) should list the relevant information of the project in detail to establish a positive image. Finally, the detailed review of smart contracts is also an important part, because once major loopholes or logical errors in smart contracts are not detected and corrected in time, it will not only affect revenue and development, but even destroy the entire project in serious cases.

At first glance, the above tasks are all the practice of IT technology, but in fact, it is necessary to plan and manage the Discord server from the perspective of community users, understand the feelings and emotions that buyers may have during the transaction process, and plan ahead. Arranging and even identifying potential risks when scrutinizing smart contracts is a “people” problem. Therefore, technology is important, but humanized thinking and processing are also indispensable.

successful issuance of NFT is the only way

Since it officially entered the public eye in 2021, NFT has been developing at an explosive speed, depth and breadth, and discussions related to it are no longer at the level of technology and finance, but have become a public issue. When everyone talks about NFTs, does everyone understand NFTs; when different companies and brands issue NFTs one after another, does it mean that everyone knows the usefulness of NFTs and can make the most of them?

In order to let everyone know more about the infinite opportunities of NFT, the theme article of “NFT Planning Five Steps” will focus on the five directions of “content”, “design”, “configuration”, “execution” and “development”. Note; as a prologue, this article is sharing “purpose”.

Think about the purpose of issuing NFT projects

There should be a purpose behind every business decision of an enterprise, because only with a clear understanding of the purpose can the top and bottom of the team conceive the corresponding strategy, implementation process and performance evaluation criteria. In other words, the purpose is like a skeleton, which supports the whole plan and also determines its development direction.

Issuing NFTs is no exception. Even though there are many successful examples of NFT application in the market, but blindly copying other people’s examples does not mean the same success, so before deciding to embrace this new technological product, you must first clarify the purpose of this move: plan to enter New fields, new possibilities beyond existing businesses? Foreseeing the huge potential of the Metaverse, hope to seize the opportunity first? Or, like Time Magazine, want to release the residual value by repackaging the products of the industry? I still plan to follow the example of “Lel DAO” and attract like-minded managers by issuing NFTs… To count down, of course, there are millions of possibilities, but “people have and I have” should not be one of them.

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