NFTs
All about NFTs
Last updated
All about NFTs
Last updated
Technically an NFT (non-fungible token) is an object on the XRP Ledger that can be uniquely identified, but in practice, an NFT can be used to represent almost anything imaginable.
For example, an NFT can be a concert ticket, a picture, a song, proof of ownership, a license or a lease.
In simple terms, an NFT is a unique identifier on the XRPL that points to an item off the XRPL.
For more information, this link provides an excellent conceptual view of NFTs:
XRPL Foundation: An overview of NFTs on the XRP Ledger
There are a couple of options for viewing NFTs in Xumm.
1) From the main screen, press the Tokens button,
then select NFT,
You should see a list of all of your NFT's.
2) If you would like to view one of the NFT's in a larger format or view more information about a particular NFT, select it, and it should display a screen similar to this:
While the XRP Ledger has an NFT standard (XLS-20), the metadata standards for NFTs are still being developed. This means that not all NFTs may be displayed in all NFT viewers since they may have been minted using different metadata information.
Until the XRPL community can agree on a set of metadata standards for NFTs, Xumm will rely on NFT minters to publish their own standards.
You can try opening your NFT using one of the NFT viewer xApps in the list. In this case, we used Peerkat NFT viewer to view this one.
You'll notice that you have three additional options:
| Option | Explanation |
|---|---|
Displays any offers you have made or received for this NFT | |
Copies a link to your NFT. | |
Open a blockchain explore where you can view additional details about your NFT including the history of your NFT. |
No. Xumm does not have a way to compose an NFT minting transaction, but it will allow you to sign a minting transaction created by a third party. We feel that issuing an NFT should (and probably will) involve different steps and a different workflow based on what the NFT will represent, thus issuing NFTs is best left to people with the specific knowledge of their project. The good news is that there are already many 3rd party projects working in the NFT minting space, so we should see more new and exciting xApps arrive for all kinds of different NFTs!
No. In order to sell an NFT you will have to go through an NFT marketplace. Xumm will allow you to sign a sell transaction crafted by an NFT marketplace but it will not allow you to sell an NFT directly. Just like minting a transaction, the sell transaction will have to be composed by those projects in the NFT space. If those projects allow you to provide the required info, persist the info, craft an identifier pointing towards that info, then compose a transaction to sell the NFT, Xumm will allow you to review and sign that transaction.
This link provides an great conceptual view of NFT transfers:
XRPL Foundation: Trading NFTs on the XRPL
No. An NFT is an asset like any other from the perspective of the XRP Ledger Protocol (the rules all XRPL wallets must follow). Xumm only transacts in XRPL assets.
An NFT created on another blockchain cannot be sent to the XRP Ledger. (Similarly, an NFT that was created on the XRPL can not be sent to another blockchain.)
It is possible that an NFT minter or NFT market place will offer an exchange service allowing NFTs to be shared between various networks but that will be a feature that they offer and will not be related to Xumm.
Prior to the adoption of the XLS-20 amendment, several projects created "NFTs" using various proprietary methods. Those companies decided to implement their own standards, so it is unclear if their 'NFT's' will be compatible with the new standard.
Since we have no way of knowing how their 'NFTs' were created, which specifications they adhered to or if they cut any corners in their minting process, we recommend that you contact the people who minted your NFT and see if they have a plan to ensure compatibility with the XLS-20 standard. It will be up to the NFT minter to provide support for their products.
Do I need to configure a Trust Line for an NFTs?
No.
Native NFTs on the XRPL do not require Trust Lines.
Some of the older, proprietary "NFTs" used Trust Lines though. If you have an "NFT" that requires a Trust Line, reach out to the company that created the NFT and see if they offer assistance on how to proceed.
There is actually! Here is our founder, Wietse Wind talking a bit about NFT's.
