The blockchain industry has been a presence for over a decade now. From Bitcoins to several other alternative cryptocurrencies, the web3 has expanded beyond anyone’s fancy! However, there also goes a piece of information that these blockchains are immortal, and thereby, the NFTs are forever perpetual. This misconception led to the development of on-chain NFT development.

This blog will widen your perspective on tokenizing your asset on blockchain and open up massive opportunities for your avant-garde platform allied with our exceptional NFT development services.

Why create on-chain NFTs for your NFT marketplace? 

Web3 technology is slowly being adopted by many conglomerates and corporates like Google, Microsoft, and many other brands. NFTs are its valued, because of their limited availability and their unique attributes. That is, the blockchain where these NFTs are minted is not made with huge host files. However, NFTs do!

Non-Fungible Tokens are available from almost all the business verticals in the world. For instance, these NFTs can be images, video clips, or any media file that can be tokenized. Furthermore, all these assets pertain to several metadata. Hence, these digital assets are either traded from a server or using an IPFS system, both with specific longevity assigned.

Having gotten a spark from this idea, the NFT developers and the blockchain experts have put together a solution to have all this data hosted on-chain. 

The difference betwixt On-chain and Off-chain assets 

There seems to be confusion among NFT enthusiasts about the distinction between Off-chain and On-chain NFT creation. We have taken it upon ourselves to make things clear, in the below section. 

The smart contracts that automate the platform guide the user on on-chain NFT  creation, as all their digital metadata are stored. That is, unlike off-chain, where the NFTs get minted, stored, and then integrated with the blockchain, on-chain makes the process much more efficient by doing all that in the blockchain itself. 

Furthermore, when you opt for an off-chain, the NFTs are stored with a cloud storage system, which technically is the centralized server, or they are stored in a third-party integration, IPFS storage system. This critical point is averted in On-chain, as the NFTs do not have to be stored but are already created on the blockchain, making them permanently stay on the public ledger. 

On-chain Asset Creation – On-chain NFT-based NFT marketplace development

NFT marketplace is where the user is facilitated to buy, sell, trade, and auction their desired cryptographic assets for monetary benefits. The NFTs traded in an NFT marketplace offer its user exciting rewards for their uniqueness, and they, of course, differ from every other type of marketplace. 

However, with NFT marketplace development that is based on the on-chain NFT collection, our developers dedicate themselves to proffering state-of-the-art artwork. The NFT development from our adept developers is done with smart contracts and can be tailor-made as per the user’s request at an affordable cost. These algorithmic NFTs created directly developed on the blockchain give our team of NFT development service providers the to launch the project with the potential audience for a lucrative venture. 

Benefits of On-chain NFT creation – Value appreciating NFTs 

• Reliable Storage

• Increased Liquidity

• Heightened blockchain experience

• Less gas fees
• High-end security

Some Popular On-chain NFT projects 

• Chainrunners

Chainrunners are driven based on the story that is on-chain, gaining a lot of traction from investors worldwide right since their launch. The story of the political leaders, the blade runners in a city as their appeasing storyline, is open-sourced, offering incentives for its NFT holders. 

• Nouns WTF

Nouns WTF NFT collection created on-chain was initially just an experimental creation. After their breakout and reach to the audience, they soon topped the public domain projects with their decentralized platform and their thriving DAO community. 

• Gnars

The innovation to allow sports enthusiasts to enjoy web3 technology at its peak even in the physical world brings real-time value appreciated for their on-chain NFTs. They can be seen as an extension of the Noun WTF collections. This is because they embrace the NFT culture and assist gamers in the real world as well.

• Arpeggi Genesis

They are a music-genre-based NFT project that allows musicians and artists to create and tokenize their tunes completely on-chain. This makes the artist more unique and thus makes NFT more desired and expensive. 

• CryptoPunks

CryptoPunks are the leading NFT collectors and NFT marketplace in the industry today, and they have ventured into creating NFTs completely on-chain, having no dependence on servers, making them competitive and unique for NFT enthusiasts since 2021. 

• OCM Genesis

On-Chain Monkeys (OCM) are one of the first on-chain NFTs to be minted in the industry, offering unique and eccentric NFT collections. These NFT collections are developed using smart contracts and AI instead of art, images, etc. This makes the OCM genesis more admirable, for they are directly created on the blockchain for much more comprehensive visibility. 

Competitive On-chain NFT creation in the NFT marketplace – The Future of web3 

When the NFTs are created directly on the blockchain, the value of the NFTs is doubled. This is due to the fact that not all the NFTs are on-chain created. In a competitive and volatile market like that of cryptos, processing the NFTs on the blockchain itself allows the user to access many digital assets instead of limiting themselves.

The metadata, smart contract, and the NFTs, in the blockchain, with on-chain, can stand independent and wouldn’t require multiple add-ons to survive the market. And it is evident that these blockchain networks are here for good; thus, your NFT collection will stay stored eternally. Also, with their capability to provide instant liquidity with the NFT marketplace development for them to be traded, these NFTs created on-chain can also become a bandwagon for your marketplace. Though we are still in the process of discovering other various integrations possible with on-chain NFTs, the future of web3 seems much brighter and immortalized!

We at AppDupe, have been in the industry and have seen the wave of these invaluable assets. With the market leaning toward the entrance of on-chain asset creation makes them look more promising as they will be utilized in upcoming several projects. 

Thus far, this blog has expounded on the rather new concept of on-chain NFTs, and they are backed by the impeccable properties of the blockchain. NFT collections that are unique, rare, and unique are getting minted every day, like Doodles NFT, PFP NFT, GoblinTown NFTs, and many more, for example. 

Wherefore AppDupe?

In conclusion, the commonality with all these NFT collections is that though the NFTs are stored in the blockchain, the hosting server still belongs to web2 technology.  NFT marketplace development on-chain allows the user to stay clear of the fluctuation in the market. This is because the transparency of the blockchain assists the user in tracking the status of the marketplace live and making decisions based on that information. 

AppDupe, as an NFT development service provider, offers ultimate web3 services that are reliable and cost-effective. Wanting a glaring on-chain NFT development? Consult our NFT developers for a unique bunch of on-chain NFT creations!