What is xNFT: A new Era of dApps

 

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 dev

Now 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.