Atomic NFTs with Warp contracts

Originally posted here.
By: Az

Overview

The team at Warp has announced a major update to the Warp Contracts infrastructure, as it now supports the rollout of Atomic NFTs. Atomic NFT is seen by some as what the universal NFT standard should have been all along, while others argue that the ERC-721 standard on Ethereum is broken. You might be wondering […]

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The team at Warp has announced a major update to the Warp Contracts infrastructure, as it now supports the rollout of Atomic NFTs. Atomic NFT is seen by some as what the universal NFT standard should have been all along, while others argue that the ERC-721 standard on Ethereum is broken. You may be wondering why these claims have been made, what an Atomic NFT actually is, and how they can improve the NFT world. If so, you are in the right place.

Let’s dive in!

Atomic NFTs

To understand what an Atomic NFT is, it is best to have an understanding of what an NFT consists of. In most cases, to create an NFT, you need:

A smart contract – which defines the creation of the NFT and the general properties of the NFT collection (eg the name of the collection).

The NFT Token and Metadata – A unique token on the blockchain that gives ownership of the NFT to the holder, and contains the NFT metadata within (eg the name of the specific NFT from the collection above, the link to the NFT asset data, etc. .).

NFT Asset Data – The actual end product that the user sees (e.g. in the case of digital art NFT, this would be the NFT image).

More often than not, these three components live separately. The smart contract and token/metadata live on the blockchain, while the asset data lives off-chain – this is because the asset data files are usually large in size, and thus not easily stored on any of the slower and expensive blockchains).

In cases where the asset data is stored on third-party servers, this can lead to many problems, arguably the worst being the permanent loss of one’s NFT data altogether – if, for example, the person paying for the server stops doing so.

Atomic NFTs on Arweave solve this problem by combining contract and asset information into one unified transaction. An Atomic NFT is, as Sam Williams – the creator of Arweave himself – puts it:

Asset data, metadata and contract are combined into a single Arweave ID.

Pianity – the Web3 music platform on Arweave – was the first to bring Arweave’s Atomic NFTs to the music space while claiming that “NFT storage is broken” and that “ERC-721 has solved ownership but not storage”.

With Atomic NFTs, the address of the NFT smart contract_ is the address of the NFT data. Permanent resources in the chain and no external metadata. An adress. How NFTs Should Be – Sam Williams, Arweave Founder.

So why are Atomic NFTs important?

As mentioned, standards like ERC-721 on Ethereum usually point to the external links to the NFT’s asset, and are stored outside of the Ethereum Virtual Machine (EVM) blockchain, so there is no guarantee that the contents of your NFT will always be available.

Gabriel Ayuso – Staff Software Engineer at Google Lead Cloud Online Services Software Engineer at Nero Inc , and former Senior Software Engineer at Google – says that the ERC-721 standard lacks consideration for metadata when it is pushed off to an external URI without any specification. He goes on to say:

I understand the reasoning since chain data is expensive, but we pay the price in other ways. The most common problem is contracts that point to centralized URIs where metadata is hosted. Fortunately, several projects are moving to IPFS and Arweave. However, this is not standard practice yet.

So if you don’t use a permanent data storage solution like Arweave, you could end up owning an empty NFT (ERC-721) token. If you want to read more about this case, go here.

Atomic NFTs solve all of the above. So if you’re an NFT creator looking to get ahead of the game – especially while the market is gloomy during a bear market – you might want to check out Warp, as it meets all the criteria of Atomic NFTs.

Today, NFT distributed with Warp fulfills all the criteria of an Atomic NFT.

The contract data is available in the Arweave Gateway

The contract and the data are stored under the same tx ID

Same ease of use as any contract distributed through Warp Gateway (instant access)

— Warp Contracts (@warp_contracts) January 3, 2023

Harness the power of Atomic NFT and enjoy a seamless Warp developer experience right now!- Warp

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