Why You Should Be Minting On Your Own Contract

Why You Should Be Minting On Your Own Contract

Blockchain technology is more accessible than ever. It’s now possible to mint an NFT with just a few clicks, but that doesn’t necessarily mean that you should. Minting on a custom contract takes more time but it’s worth the effort.

Manifold is one platform that enables customised contracts

#1 Digital sovereignty

Marketplaces tend to use shared smart contracts as default. These act as proof of ownership but little else, and by using them you’re agreeing to a certain marketplace’s imposed terms. The contract isn’t uniquely yours. Digital sovereignty is web3's buzzword; but supposedly decentralized marketplaces like OpenSea recently banned artists from Cuba and Iran, provoking uproar. With your own contract, you retain all control, all the time, which is true decentralization.

#2 Utilities and customization

Perhaps you want your NFT to change over time? Perhaps you want to connect it to a wider infrastructure--maybe its assets can be linked to a gaming mechanic? Perhaps you want your NFT to act as a lease expiring after a set period? NFTs are much more than just proof of digital ownership. Rather than artwork that happens to exist as an NFT, a customized contract allows for art that has to exist as an NFT: conceptual pieces that explore the true potential of blockchain technology.

#3 On-chain metadata

Foundation offers both kinds of contract

There are so many benefits to storing your metadata online that we even wrote a separate article about it! Going fully on-chain means that all the data associated with your NFT is stored immutably on the blockchain. This opens up a range of possibilities including gaming, trait-based trading and much more. On-chain NFTs tend to be more valuable too, but they simply aren’t possible on shared, marketplace contracts.

#4 Provenance and royalties

Quite simply, using your own, customized contract, guarantees the future immutability and provenance of your NFTs. Art minted on a shared contract requires at least some marketplace functionality to determine its provenance. Personalized contracts are their own verification, giving collectors piece of mind that they aren’t purchasing a copy mint. A customized royalty plan can also be built into—and guaranteed on—your contract. Sources

https://manifold.xyz/home/ 

https://help.foundation.app/

Globally best selling author followed by 300,000+ readers on insta. #NFT poet and #NFTcollector.

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