What is xNFT: A new Era of dApps
What is xNFT: A new Era of dApps
August 11, 2023 | NFT Market Place
2 min read 
Admin
Table of Contents
What are NFTs?
An NFT stands for a non fungible token.NFTs are unique digital assets that represent ownership for various digital items, such as artwork, collectibles, tokenized real life assets.
Why did NFTs fail to retain?
As we all know NFTs were plain jpeg images with metadata cryptographically secured tokens over the blockchain network. And not used properly or we may say it was assumed something else. Due to lack of worth and useability(less ROI) NFTs failed to retain in the market and the era was gone. I do believe NFTs could have other potential use cases like soul bound tokens, DIDs, and metaverse virtual assets. But they don’t prove to be a good asset until backed by a real life asset. Despite its failure we still have a little hope that it will come back soon in the realm of game development and metaverse.
What is a xNFT?
Xnft is also known as executable NTFS. xNFT Solana is one of the most widespread blockchains and most hyped for its NFT marketplace and Defi community. Solana xNFT Network has some seriously low gas fees and very good throughput of around 3000 tps.
Now, developers at Solana have created a cutting edge application on the Solana blockchain called xNFTs. They also claim it will work on ethereum networks as well. This article will explore traditional Solana NFTs, xNFT token, their differences, their applications, relationship to xNFT Backpack development and deployment.
Just for an insight you can have a closer look to this dApp store where these XNFTs are available to be downloaded and can run in your backpack xNFT stimulator.
What is Backpack?
xNFTs are like special apps. Therefore, you can take a backpack as their operating system for executing and deploying these applications. Back is an application management platform and new Solana wallet built specifically for xNFTs. It helps you in managing your private keys and gives access to decentralized applications.
What is the Solana Mobile Stack?
Solana Mobile Stack, also known as SMS, is an open-source SDK giving you tools to create applications for upcoming Solanan phones. With SMS you can build web3 applications for native android phones using Solana blockchain.
What is the Coral Community?
The "coral.community" website offers limited information, possibly due to the community's intention to distance itself from certain team members' prior associations with FTX and Alameda Research.
Notably, as reported by Alchemy on November 4, 2022, the Coral community is spearheaded by former Alameda Research software engineer Armani Ferrante and Tristan Yver, FTX's former head of strategy.
Central to the Coral community's achievements is the creation of Anchor, an immensely popular open-source framework for developing Solana applications using Rust. This innovation has subsequently served as the foundation for Seahorse (Python) and the Anchor Registry, both integral components of Solana's program code development. Presently, the Coral team's primary focus lies on advancing xNFTs, Backpack, and CoralOS. Of particular interest is their recent release of official xNFT docs detailing the construction of Coral xNFT with React.
Coral's ambitions are fortified by substantial support from prominent cryptocurrency organizations, as they strive to foster an all-encompassing Solana ecosystem encompassing a diverse array of products, xNFT protocol, and foundational elements.
Please note: It is essential to distinguish Ancor – Solana's Sealevel runtime framework – from the Anchor protocol.
How to Start Playing with XNFTs?
I just want to clear one thing first, for now XNFTs are no more than a plain react.js application. That you create, build and push to the arweave/ipfs.
First, you have to install a chrome extension of the backpack. It's quite easy to install and setup this wallet just follow the steps along and please save the seed phrase for future use and recovery.
You can clone and start a quick start repo that will run your xNFT backpack GitHub locally.
Here are the step:
git clone [email protected]:coral-xyz/xnft-quickstart.git
cd xnft-quickstart
Yarn
yarn devNow you can open the simulator icon in your backpack extension and you can see the XNFT / Dapp running.
This is simulator icon hover over to it and click on it:
If everything is configured fine you will look something like this:
You can click on the switch to leave the XNFT.
This is a backpack wallet interface which
shows balances,
XNFT applications,
and an executable NFT to show an in wallet crypto price tracker.
After all of the stuff we have gone through about the creation of what is XNFT and how they work and how they are created. Let's talk about the publishing of XNFT how they can be published to XNFT.gg aka dapp store.
Wait for that part, I would need main net Sols. Here is my wallet address if you want to learn about a real life XNFT and publishing it send me sols at this address So I can create one and publish it “6WyQvhPQmDyXVputfgQcJXMG4D4TeEcyDKpuDjGn9AeM”. 1 sol will serve the purpose.
Table of Contents
What are NFTs?
An NFT stands for a non fungible token.NFTs are unique digital assets that represent ownership for various digital items, such as artwork, collectibles, tokenized real life assets.
Why did NFTs fail to retain?
As we all know NFTs were plain jpeg images with metadata cryptographically secured tokens over the blockchain network. And not used properly or we may say it was assumed something else. Due to lack of worth and useability(less ROI) NFTs failed to retain in the market and the era was gone. I do believe NFTs could have other potential use cases like soul bound tokens, DIDs, and metaverse virtual assets. But they don’t prove to be a good asset until backed by a real life asset. Despite its failure we still have a little hope that it will come back soon in the realm of game development and metaverse.
What is a xNFT?
Xnft is also known as executable NTFS. xNFT Solana is one of the most widespread blockchains and most hyped for its NFT marketplace and Defi community. Solana xNFT Network has some seriously low gas fees and very good throughput of around 3000 tps.
Now, developers at Solana have created a cutting edge application on the Solana blockchain called xNFTs. They also claim it will work on ethereum networks as well. This article will explore traditional Solana NFTs, xNFT token, their differences, their applications, relationship to xNFT Backpack development and deployment.
Just for an insight you can have a closer look to this dApp store where these XNFTs are available to be downloaded and can run in your backpack xNFT stimulator.
What is Backpack?
xNFTs are like special apps. Therefore, you can take a backpack as their operating system for executing and deploying these applications. Back is an application management platform and new Solana wallet built specifically for xNFTs. It helps you in managing your private keys and gives access to decentralized applications.
What is the Solana Mobile Stack?
Solana Mobile Stack, also known as SMS, is an open-source SDK giving you tools to create applications for upcoming Solanan phones. With SMS you can build web3 applications for native android phones using Solana blockchain.
What is the Coral Community?
The "coral.community" website offers limited information, possibly due to the community's intention to distance itself from certain team members' prior associations with FTX and Alameda Research.
Notably, as reported by Alchemy on November 4, 2022, the Coral community is spearheaded by former Alameda Research software engineer Armani Ferrante and Tristan Yver, FTX's former head of strategy.
Central to the Coral community's achievements is the creation of Anchor, an immensely popular open-source framework for developing Solana applications using Rust. This innovation has subsequently served as the foundation for Seahorse (Python) and the Anchor Registry, both integral components of Solana's program code development. Presently, the Coral team's primary focus lies on advancing xNFTs, Backpack, and CoralOS. Of particular interest is their recent release of official xNFT docs detailing the construction of Coral xNFT with React.
Coral's ambitions are fortified by substantial support from prominent cryptocurrency organizations, as they strive to foster an all-encompassing Solana ecosystem encompassing a diverse array of products, xNFT protocol, and foundational elements.
Please note: It is essential to distinguish Ancor – Solana's Sealevel runtime framework – from the Anchor protocol.
How to Start Playing with XNFTs?
I just want to clear one thing first, for now XNFTs are no more than a plain react.js application. That you create, build and push to the arweave/ipfs.
First, you have to install a chrome extension of the backpack. It's quite easy to install and setup this wallet just follow the steps along and please save the seed phrase for future use and recovery.
You can clone and start a quick start repo that will run your xNFT backpack GitHub locally.
Here are the step:
git clone [email protected]:coral-xyz/xnft-quickstart.git
cd xnft-quickstart
Yarn
yarn devNow you can open the simulator icon in your backpack extension and you can see the XNFT / Dapp running.
This is simulator icon hover over to it and click on it:
If everything is configured fine you will look something like this:
You can click on the switch to leave the XNFT.
This is a backpack wallet interface which
shows balances,
XNFT applications,
and an executable NFT to show an in wallet crypto price tracker.
After all of the stuff we have gone through about the creation of what is XNFT and how they work and how they are created. Let's talk about the publishing of XNFT how they can be published to XNFT.gg aka dapp store.
Wait for that part, I would need main net Sols. Here is my wallet address if you want to learn about a real life XNFT and publishing it send me sols at this address So I can create one and publish it “6WyQvhPQmDyXVputfgQcJXMG4D4TeEcyDKpuDjGn9AeM”. 1 sol will serve the purpose.
FAQS
xNFTs adopt the same workings as the usual NFTs; however, they come with some extra features and implement executable programming scripts coated as NFT-representing files. Through these executable scripts, the final product incorporates both the asset and the code, enabling xNFTs to run inside a specific wallet.
The primary difference between NFTs and xNFTs is that xNFTs can run code, while usual NFTs cannot. xNFTs can interact with users and external data sources such as applications or protocols. Finally, you don’t need a third-part to stake a xNFT, for example, you do not need to use a third-party platform.
Yes, there is a potential future for xNFTs. This technology can make its future bright by tackling current limitations, offering unique features, and meeting emerging needs within industries.
Backpack stands as the definitive mobile wallet catering to your every cryptocurrency requirement. Seamlessly storing, transmitting, and accepting both Solana and Ethereum tokens, Backpack redefines convenience in the world of digital currencies.
