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ConsenSys Releases NFT Tool Beta to Enable End-to-End Web3 Tooling

ConsenSys Software Inc., an Ethereum-focused blockchain technology startup, today announced the launch of the NFT application programming interface for its suite of Infura blockchain development tools that will help developers create, customize and rapidly deploy non-fungible tokens.

Non-fungible tokens represent proof of ownership of digital assets in social media, games, and the metaverse such as artwork, music, and other digital assets secured by smart contracts using blockchain peer ledgers -to-peer. Using NFTs, people can then buy, sell, or trade that proof as a token for other crypto assets such as cryptocurrencies, creating economies in what is known as Web3, or the Decentralized Web, without need banks or intermediaries.

ConsenSys is well known for its popular MetaMask cryptocurrency wallet, which is also capable of storing and displaying NFTs on web and mobile browsers. The company claims that the wallet has over 30 million monthly active users.

“As the NFT business grows, developers need to build applications with scalable, high-performance APIs,” Nayana Singh, general manager of product at ConsenSys, told SiliconANGLE in an interview. “That’s what Infura is known for and that’s what we want to offer our developers. This initial launch is a beta, which means it will be closed for a short time and we will slowly open the doors to a few at a time before opening the floodgates.

Out of the box, developers will find two things in the application programming interface: a set of read APIs that allow developers to retrieve whatever information they want from NFTs, such as metadata, and an API for writing NFTs.

Using the SDK, Infura developers can now create and verify digital assets and attach metadata templates to NFTs. This allows developers to create NFTs, a process called “minting”, in minutes and add additional information to them.

Many NFTs use metadata to add spice to their artwork or video game elements, such as the rarity and descriptions of their particular artwork. For example, generative art NFTs and those involving similar figures with different characteristics will use metadata elements to differentiate pieces in the collection apart from name and graphic.

Bored Ape Yacht Club #8247 on OpenSea has metadata showing it has a “purple background”, hypnotized eyes, “golden brown” fur, “sushi chef” hat, and “phoneme wah” mouth. It even includes the rarity percentage of every graphical item in the NFT as it appears among the other 10,000 Bored Ape NFTs. This is a potential use of metadata.

The new tools will also include an NFT-aligned SDK specifically designed for social media, gaming, and metaverse typing and production. With NFT Mint, SDK developers will get a head start on writing and typing as well as templates for common NFT types.

Infura also offers tutorials dubbed the “Interactive Lootbox Tutorial” to teach developers about starter projects to help them get started quickly. The tutorial contains samples and examples for developers to get familiar with NFTs for their projects.

“We’re opening the ‘lootbox’ in phases,” Singh explained, describing how the tutorial works. The term “lootbox” refers to how games reward players with cargo chests that are full of treasure for completing objectives. So, as developers progress through the steps in the tutorial, they learn more about how to implement parts of the API such as reading NFTs, building the NFT, and creating it.

Finally, at the end of the Lootbox tutorial, developers are rewarded with a musical NFT for completion.

When it comes to use cases for Infura’s NFT API, Singh said NFTs primarily focus on arts, entertainment, and collectibles. Use cases have included music, games, and the metaverse, and several companies had asked about loyalty programs.

“I think it’s very important to us that NFT and Web3 make them business scenarios that customers and developers depend on,” Singh said. “When that starts happening, you know the technology is here to stay. I think over time we’ll start to see strong use cases continue to grow.

Developers interested in the beta can now register on the Infura website.

Image: Geralt/Pixabay

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