Binance Smart Chance Introduces BSC NFT Metadata Standards

The BSC developer community collaborated with a few marketplaces including Binance NFT, Galler, Bazaar, and NFTrade to set the unified NFT Metadata Standards for the BSC ecosystem.

The metadata standards doc can be found here. Some of you might be familiar with these standards, as they leveraged Opensea’s current standards since many projects have modeled their metadata based on it.

They highly encourage NFT projects to adopt this set of standards as much as possible. Several marketplaces such as those listed above as well as TofuNFT, NFTb, Treasureland, and PancakeSwap have agreed to align to these standards.

They invite all NFT-related projects to use the same metadata standards as much as possible.

Phase 1: Laying the foundations for a vibrant NFT ecosystem

The lack of metadata standards till now meant that various NFT projects were created with inconsistent metadata structures. This resulted in difficulties for NFT marketplaces and analytics websites to pull data and achieve interoperability across NFT projects.

It was feedback from the community and NFT project teams that led them to work towards setting a common metadata standard. Adopting a unified standard will help them lay the foundation for a vibrant NFT ecosystem and seamless project integration with different NFT platforms. This is great for users who will be able to trade (or use) their digital assets on a wider variety of marketplaces.

Phase 2: Building enhanced metadata standards for the future

They recognize that the NFT landscape and utility have evolved over time, resulting in the need for more sophisticated metadata structures.

GameFi and metaverse NFTs are good examples. An in-game NFT (e.g. heroes, weapons, items) could have multiple attributes and sub-attributes, or a piece of digital land may require coordinates or attribute values that can’t be satisfied by a single numerical value.

They are currently working with the NFT community to gather feedback and explore solutions that will cater to these evolving needs. Being one of the top blockchains for GameFi and metaverse projects, they are fortunate enough to have a strong community of experts and technical leaders that will be able to establish new standards for the future of Web 3.0.

For anyone who has feedback or is willing to contribute to this effort, feel free to reach out to them via our official channels.

In the next few months, expect to see a wave of updates and announcements as they gear up for an exciting NFT season. From new marketplaces and quality project mints to better analytics for NFT discovery, they are working with several projects and partners to enable a vibrant NFT ecosystem. The publication of the NFT metadata standards is just the beginning.

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