How to Filter Spam NFT Tokens

<h3 id="">How to Filter Spam NFT Tokens</h3>In the world of Non-Fungible Tokens (NFTs), spam has become a significant challenge. With the influx of NFTs, especially on high-throughput networks like Polygon and Solana, distinguishing valuable tokens from spam is crucial for a streamlined user experience. SimpleHash, an NFT data platform, has developed a robust solution to combat this issue. In this guide, we’ll delve into the intricacies of NFT spam and how developers can effectively filter them using SimpleHash’s tools.‍<h3 id="">Understanding NFT Spam</h3>‍NFT spam typically involves the mass creation and distribution of low-value or utility NFTs, often in the form of airdrops. This practice not only clutters user interfaces but also poses security risks through malicious links in metadata or dangerous code embedded in media files. Identifying and filtering these spam NFTs is essential for maintaining the integrity and safety of NFT platforms.‍<h3 id="">SimpleHash’s Approach to Tackling Spam</h3>‍SimpleHash, supporting major wallets and platforms in the crypto space, utilizes a sophisticated spam scoring system. The system assigns a score from 0 to 100 to each NFT collection, indicating the likelihood of being spam (100 being the highest probability). This scoring is dynamic, adjusting over time with user feedback and evolving models. NFT&nbsp;collection scores may change over the lifecycle of the collection too, as more signals are detected or occur (e.g., a collections listing or delisting, an update to the metadata, or the floor price, and so on). SimpleHash provides NFT&nbsp;spam scores on all the major chain ecosystems, including EVM-based chains, Solana, and Bitcoin Ordinals.‍<h3 id="">Key Features of SimpleHash Spam Scores</h3><ul id=""><li id="">Enhanced LLM Models: The upgraded spam detection system makes use of a finetuned LLM model, analyzing almost the entire NFT metadata body, along with OCR on the NFT&nbsp;media for image analysis and detection of spammy words in the content</li><li id="">Multiple Input Signals: Factors like collection listings, active floor prices, marketplace status, NFT burns, metadata presence, and patterns in airdropped transactions contribute to the scoring of each collection, along with whether any malicious links are found in the body of tokens that make up the collection</li><li id="">Customer Feedback: SimpleHash user reports on spam or false positives play a vital role in refining the scoring system, and influence the scores themselves</li></ul>‍<h3 id="">How Developers Can Utilize the SimpleHash Spam Scores to Filter Spam Tokens</h3><ol id=""><li id="">Get access to Spam Scores: Developers on a paid SimpleHash Enterprise plan can get access to the spam scores. Reach out via <a target="_new" id="">hello@simplehash.com</a> for more information</li><li id="">Start integrating spam scores into client-side applications: The spam scores themselves are available as a field in most SimpleHash NFT and Collection endpoints, can be utilized to filter out collections client-side. A recommended starting point is to treat collections with scores of 80 or higher as spam. The full collection model reference, including the spam_score, can be found <a href="https://docs.simplehash.com/reference/collection-model">here</a></li><li>Decide on a UX: When using the spam scores, some developers choose to filter out those above the chosen threshold entirely. Others provide end-users the choice (in conjunction with a warning flag). Another common setup is to use a "hidden" folder, where tokens that are likely spam are sent (and can be shifted back to a main view if the end-user explicitly chooses to do so)</li><li id="">Make custom adjustments: Developers should adjust the utilized spam score threshold based on their specific needs and observations</li><li>Provide spam reports: Certain trusted partners can also contribute to the spam scoring system using the spam report <a href="https://docs.simplehash.com/reference/send-spam-report">endpoint</a> (for false positives and false negatives). To gain access to this, message <a target="_new" id="">hello@simplehash.com</a> for more information</li></ol>‍<h3 id="">The advantages of using SimpleHash's spam scores to filter spam NFTs</h3><ul id=""><li id="">Real-time spam detection: Continuously updated scores offer up-to-date spam filtering.</li><li id="">Comprehensive modeling of spam: The spam scores utilize diverse data sources and signals, an accurate finetuned LLM, and user feedback for accurate scoring - all updated on an ongoing basis</li><li id="">Easy integration: SimpleHash’s API facilitates seamless integration into existing systems, and is included in the regular response bodies (and bulk Kafka streams)</li></ul>‍Filtering spam NFTs is pivotal for the health and usability of the NFT ecosystem. With SimpleHash's advanced tools and continuous innovation, developers have a powerful ally in this endeavor.

SimpleHash provides a sophisticated spam scoring system. The system assigns a score from 0 to 100 to each NFT collection, indicating the likelihood of being spam (100 being the highest probability). Developers can use this score to filter out unwanted spam.

How to Identify NFTs on Each Chain

Each&nbsp;NFT, no matter the chain it's based on, has an ID allowing it to be uniquely identified. These identifiers can be structured quite differently depending on the chain ecosystem the NFT&nbsp;is a part of and the standards it adheres to however. SimpleHash helps simplify all of this with a cross-chain NFT&nbsp;and token identifier schema, to allow for consistent querying of NFT data, no matter the ecosystem you work with. All NFTs on SimpleHash can be queried using a three part structure: ‍chain.contract_address.token_id "Contract address" may mean many different things on different chains, and on some ecosystems (e.g., Solana) token_id isn't relevant. In this brief article, we'll walk through how the identifiers work on each chain or ecosystem, and how they fit into the overall structure of NFT&nbsp;data.‍<h3 id="">Identifying NFTs on EVM based chains</h3>NFTs can be identified in a straightforward manner on most EVM (Ethereum&nbsp;Virtual Machine) based chains (e.g., Ethereum itself, Polygon, Base, Zora). Almost every EVM NFT&nbsp;can be identified by:<ul id=""><li id="">The chain</li><li id="">The contract_address (the unique address of the smart contract associated with the NFT itself)</li><li id="">The token&nbsp;ID</li></ul>SimpleHash allows for querying chains using the <a href="https://eips.ethereum.org/EIPS/eip-155" id="">EIP155</a> associated standard of chain IDs. (EIP155 addressed replay attack protection - the chain ID is integral to the mechanism; different networks have distinct chain IDs to maintain transaction integrity across Ethereum and other Ethereum-based networks).Token&nbsp;IDs are always numeric, and many popular contracts will have interrupted series (e.g., from 0 to 9999 or 1 to 10000), but this is not always the case, so should not be relied upon. (If you need to get the number of tokens on a contract, consider instead using the count=1 param on one of the SimpleHash&nbsp;<a href="https://docs.simplehash.com/reference/nfts-by-contract" id="">API endpoints</a>).For ERC1155 NFTs, which have multiple copies, the token ID&nbsp;will be the same for each copy, but you can identify each individual holder using endpoint such as <a href="https://docs.simplehash.com/reference/owners-by-nft" id="">Owners by NFT.</a>For example, for Ethereum instead of passing the chain ID "ethereum" you could pass "eip155:1". Arbitrum would be "eip155:42161" and so on. The full list can be found <a href="https://docs.simplehash.com/reference/supported-chains-testnets" id="">here</a>.‍<h3 id="">Identifying NFTs on Solana</h3>On Solana, NFTs adhering to the Metaplex standard as formatted as a Base58-encoded string uniquely representing the NFT itself (e.g., 2DfTukhzftoX9oF8xaUQ8kS85oPEVEHsmpa4DQiinQGD), instead of being tied to a specific contract_address. These addresses on Solana are often elsewhere referred to as a Mint Address or Token Address. These are case sensitive. The notion of a token&nbsp;ID does not exist on Solana in the same way, but when querying Solana NFTs on SimpleHash, one can still be passed (and it will be ignored).On EVM chains, a common work-flow is to look up NFTs that are on the same contract (or collection). On EVM this is usually straightforward, and querying all NFTs on a single contract_address is a common approach. For Solana, since the unique IDs are unique to each and every NFT, it works a bit differently. To get more details on how collections work on Solana, read this <a href="https://simplehash.com/blog/how-to-create-nft-collections-on-each-chain" id="">article</a>, but in short, SimpleHash has a systematic approach, and collections verified by Metaplex take precedence (and can be queried using their metaplex_mint ID).‍<h3 id="">Identifying NFTs on Bitcoin (for Ordinals)</h3>For Bitcoin&nbsp;Ordinal, each NFT ID is formatted as a lowercase string corresponding to the inscription ID, e.g. 6fb976ab49dcec017f1e201e84395983204ae1a7c2abf7ced0a85d692e442799i0. Similar to Solana, the notion of a token ID does not apply for Ordinals. The inscription ID in the Ordinals system is a stable and unique identifier, and usually what is used to query a specific item.Bitcoin Ordinals can also be queried using an inscription number. Inscription numbers were initially sequential identifiers for inscriptions in the Ordinals system, meant to be stable and unchanging. However, due to protocol updates allowing multiple inscriptions per transaction and other changes, maintaining these stable numbers has now become more challenging. This led to the creation of "cursed" inscriptions with negative numbers, which sometimes makes the order of inscriptions unclear. As a convenience measure, SimpleHash allows for querying Bitcoin Ordinals via inscription number on this <a href="https://docs.simplehash.com/reference/nft-by-inscription-number" id="">endpoint</a>.‍<h3 id="">Identifying NFTs on other chains</h3>SimpleHash also supports the Flow and Tezos ecosystems. On SimpleHash for Flow, NFT identifiers still follow the chain.contract_address.token_id format, but with contract_addresses formatted as a hybrid string starting with with the capital A, followed by a period and the hexidecimal portion of the address, followed by a period and the name of the contract, e.g., A.0b2a3299cc857e29.TopShot. These are case sensitive.Tezos is more similar to EVM chains, with the familiar chain.contract_address.token_id formatting.‍<h3 id="">Conclusion</h3>SimpleHash provides a unified, cross-chain schema for querying NFT data, accommodating the diverse identifier structures across different blockchain ecosystems. &nbsp;As multi-chain activity increases, this adaptability ensures developers can efficiently work with NFTs from various chains, using a consistent and reliable approach, regardless of the underlying blockchain's specific standards or identifier systems. If you'd like to learn more about different identifiers and standards for token data, please reach out - we'd love to chat.

Each NFT, no matter the chain it's based on, has an ID allowing it to be uniquely identified. These identifiers can be structured quite differently depending on the chain ecosystem the NFT is a part of and the standards it adheres to however. SimpleHash helps simplify all of this with a cross-chain NFT and token identifier schema.

How to Compare Rarity Data Across Different NFT Collections

The rarity of an NFT is a crucial metric, helping quantifying the uniqueness (and for collectors, desirability) of a specific NFT token within its collection (or vs another token on another collection). Actually calculating and comparing a numeric metric for rarity, and then using that to compare across collections is a challenge however - major chains have hundreds of thousands, if not millions of NFT&nbsp;collections (over 500,000 on Ethereum and 2M on Polygon), and each collection frequently has thousands or more individual tokens. Plus, rarity is usually calculated based on the traits or attributes of a token vs. others, and each token may have dozens (if not more) different traits and types. Fortunately, SimpleHash helps with this.‍<h3 id="">How SimpleHash helps developers calculate NFT&nbsp;rarity</h3>SimpleHash offers a consistent approach to calculating NFT rarity. Specifically, the platform adheres to the <a target="_self" href="https://www.openrarity.dev/" id="">OpenRarity</a> standard to calculate consistent, mathematically-grounded rarity score for NFTs. Utilized by many web3 and crypto platforms, OpenRarity allows for reproducible and transparent rarity calculations. SimpleHash includes OpenRarity rarity calculations for all tokens adhering to the ERC721 standard on&nbsp;EVM, and the Metaplex standard on Solana, where trait data is available.Specifically, the fields SimpleHash makes available for rarity data include:<ul id=""><li id="">Rank: The actual rarity rank, relative to the scores of all other NFTs in the collection</li><li id="">Score: The raw rarity score</li><li id="">Unique Attributes: The number of unique attributes, or traits, if any, that this NFT possesses - this can be useful for trading purposes, or to highlight specifically to end users</li></ul>Many types of web3 or crypto applications can take advantage of NFT rarity scores, and comparing these across collections, including;<ul id=""><li id="">Marketplaces: To highlight desirable and undervalued tokens</li><li id="">Wallets: To provide users with a deeper understanding of their NFTs, and drive engagement</li><li id="">Games: To help drive in-game dynamics, and to aid with in-world item collecting and managament</li></ul>‍<h3 id="">Querying NFT&nbsp;rarity data using SimpleHash</h3>Actually querying the NFT&nbsp;rarity scores with SimpleHash is easy, as they appear on all of the core NFT endpoints. For example, when querying <a href="https://docs.simplehash.com/reference/nfts-by-owners" id="">NFTs by Wallet(s)</a> to get the token metadata of all NFTs in a user's wallet(s), the rarity field will appear at the top level of each NFT response body.<figure id="" class="w-richtext-figure-type-image w-richtext-align-center" data-rt-type="image" data-rt-align="center"><div id=""><img src="https://uploads-ssl.webflow.com/64f16f96d7acc99e5e97b735/6591fe990f76be8f7726c0b2_rarity.png" loading="lazy" id="" width="auto" height="auto" alt=""></div></figure>Using these fields, the relative rank and rarity score can be used to compare the rank and relative rarity of a token, either within its own collection, or compared with others. Many developers using the SimpleHash platform will also use this data in conjunction with the floor price and sales volume also provided by the SimpleHash API to determine which collections are desirable, valuable, or should be highlighted to users.If you wish to dive even deeper, SimpleHash also makes it easy to get back the full set of key value pairs of the traits for all tokens within a collection via the <a href="https://docs.simplehash.com/reference/traits-by-collection" id="">Traits by Collection</a> endpoint.Beyond the data and fields themselves, SimpleHash is continually calculating the rarity scores of all new and existing collections, meaning if there is an update to a collection's traits (e.g., for a dynamic collection), or when a new one is minted, developers will always have the most up to date rarity data.Got questions, thoughts or feedback on NFT&nbsp;rarity? Reach out to us at <a href="mailto:hello@simplehash.com">hello@simplehash.com</a> - we'd love to hear from you.

SimpleHash includes OpenRarity rarity calculations for all tokens adhering to the ERC721 standard on EVM, and the Metaplex standard on Solana, where trait data is available, making it easy to compare rarity data across different NFT collections.

How To Calculate NFT Rarity Scores

In the world of NFTs, understanding the rarity of a digital asset is crucial for both creators and collectors. SimpleHash, aligning with the OpenRarity standard, offers a sophisticated approach to calculate NFT rarity scores. This post delves into how developers can utilize SimpleHash to integrate rarity data into their applications, enhancing user engagement and providing additional detail about tokens within collections.‍<h3 id="">What is NFT Rarity?</h3>NFT rarity quantifies the uniqueness of an NFT within its collection. It's a metric that indicates the scarcity and distinctiveness of a digital asset, playing a pivotal role in its valuation and appeal. SimpleHash adopts the OpenRarity standard to offer a consistent, mathematically-based approach to determining NFT rarity. This feature not only assists in pricing strategies but also in highlighting the unique aspects of NFTs to potential buyers.‍<h3 id="">SimpleHash’s Approach to NFT Rarity</h3>SimpleHash provides key data points for calculating NFT rarity:<ul id=""><li id="">Rarity Rank: A numerical indicator of an NFT's rarity relative to others in its collection.</li><li id="">Rarity Score: The raw rarity score, computed based on the OpenRarity standard.</li><li id="">Unique Attributes Count: The count of unique traits or attributes of the NFT within the overall collection, spotlighting its individuality.</li></ul>Check out the exact rarity model standard (along with the rest of the SimpleHash&nbsp;API docs) <a href="https://docs.simplehash.com/reference/rarity-models">here</a>.‍<h3 id="">Why Choose SimpleHash to Calculate NFT Rarity?</h3><ul id=""><li id="">Multi-Chain Rarity: SimpleHash calculates accurate rarity scores across various blockchain standards and ecosystems.</li><li id="">Real-Time Updates: The platform updates rarity data in real-time, quickly reflecting any changes to collections that could drive rarity</li><li id="">Consistency: Rarity scores adhere to OpenRarity, meaning that they can be effectively compared, and are easier to understand for the end user</li><li id="">Abstraction: Developers do not need to do additional calculations themselves to derive rarity</li></ul>‍<h3 id="">How do most developers make use of NFT Rarity data?</h3>Many developers using NFT&nbsp;rarity data via SimpleHash will implement these fields as part of a "detail view" for a token. When the user clicks on a specific collectible within their app, they use the rarity data to provide additional context about its place within a collection, or relative value. Rarity can also be useful for incorporation within filtering or sorting functionality (e.g., on an NFT&nbsp;marketplace). Some other applications (e.g., trading or analytics platforms) will use rarity as an input to various models they deploy.‍<h3 id="">Conclusion</h3>SimpleHash, with its real-time, accurate NFT rarity scores based on the OpenRarity standard, empowers developers to create rich, data-driven experiences in the digital asset market. Developers can quickly and easily introduce token rarity into their applications without having to build anything in-house.

This post delves into how developers can utilize SimpleHash to integrate rarity data into their applications, enhancing user engagement and providing additional detail about tokens within collections.

How to Create NFT Collections on Each Chain

<h3 id="">Introduction</h3>An NFT&nbsp;collection is a common grouping of NFT tokens. The implementation details of these collections can be surprisingly complicated, and differ depending on the NFT standard(s) involved, the chains the NFTs are located on, and the intent of the original creators. In this article, we're going to go through what actually defines an NFT collection on each chain, the difference between contracts and collections, and how to properly implement collections for each chain ecosystem.‍<h3 id="">On vs. off chain collections</h3>When it comes to discussing NFT&nbsp;collections, it's important to understand the distinction between on and off chain data. As you might expect, on-chain refers to anything that is stored on a blockchain itself. For an NFT, this usually includes the name, description, and other core identifying features. Ownership of a token would also be considered to be held on-chain. Off-chain data in contrast, is data associated with a token or collection that is held on a non-blockchain source, such as IPFS, Arweave, or a traditional file store like an Amazon S3 bucket. Depending on the collection type, the actual information defining the collection may be on or off chain, which has important implications for both collection creation, and querying of the data later on.‍<h3 id="">What are the major NFT&nbsp;collection ecosystems?</h3>As of late 2023 there are three main different ecosystems to consider when thinking about NFT&nbsp;collections. The EVM ecosystem (which comprises Ethereum and the related chains), Solana, and Bitcoin Ordinals. Collections are constructed differently for each, and we'll discuss the major differences.‍<h3 id="">How do NFT&nbsp;collections work on EVM-based chains?</h3>NFTs were originally popularized on Ethereum, the earliest major smart contract platform, and therefore some of the earliest NFT&nbsp;collections that exist predate many of the standards that are now common. Cryptopunks is the major example, along with the original Cryptokitties NFTs. Today, most NFT collections on Ethereum (and other EVM-based chains) adhere to either the ERC721 (for single ownership tokens) or ERC1155 (for tokens with multiple copies) standards.Contracts vs. CollectionsTo understand how collections work on EVM chains, it's important to understand the distinction between contracts and collections, as the terms are often used synonymously. On EVM-based chains, an NFT contract represents a smart contract that issued NFTs. Each contract has a unique on-chain address (e.g., ``0x23581767a106ae21c074b2276d25e5c3e136a68b` in the case of Moonbirds). NFTs adhering to the 721 or 1155 standards can always be identified by the combination of their contract address and individual token ID. (Token IDs can be any number, but are often 1-9999 in the case of some popular PFP projects). Because they are represented on-chain, contracts remain the same no matter what marketplace or protocol is interacting with the NFT.Where collections differ from contracts on EVM chains is that they are usually represented off-chain, most commonly being tied to a specific NFT marketplace. Taking Moonbirds again as the example, the homepage on OpenSea for the collection can be found here: <a target="_self" href="https://opensea.io/collection/proof-moonbirds" id="">https://opensea.io/collection/proof-moonbirds</a>, with proof-moonbirds being a unique identifier. Collections may be represented by different identifiers across different marketplaces and protocols.Usually (but with some important distinctions) contracts map 1:1 with collections, but regardless, the collection definition and metadata will still be held off-chain. Situations where contracts do not map 1:1 include marketplace shared storefronts (where multiple collections are defined off-chain to exist on a single contract), specific collections like Artblocks, or examples like Rarible, where a single collection spans multiple contracts. ‍How do&nbsp;I create an&nbsp;NFT collection on Ethereum or another EVM-based chain?For most creators in most situations, it's quite simple. When you mint your NFT&nbsp;collection on your platform of choice, assuming the intent is for the contract and collection to be 1:1, all you need to do is enter the collection metadata (e.g., description, social links, media) on the secondary marketplace of your choice (such as OpenSea). This will then be picked up by indexers such as SimpleHash, allowing the data to be easily queryable.‍<h3 id="">How do NFT&nbsp;collections work on Solana?</h3>Collection definition is more nuanced on Solana. Most collections are defined on chain, according to the common Metaplex standard, but there are many other possibilities.SimpleHash has a systematic approach: Collections verified by Metaplex take precedence, with their on-chain name defining the collection's identity in the SimpleHash system. Each NFT sharing a metaplex_mint is grouped under the same collection_id. For collections recognized by Magic Eden, SimpleHash assigns a collection_id upon mint or ingestion, identifying them through known collection names.When NFTs are part of a merkle tree, absent a verified collection, grouping relies on the off-chain collection name or defaults to the first NFT name, discounting numerical identifiers. Similarly, NFTs created from a Candy Machine with the same first_verified_creator field are collated into one collection, with the naming logic following the merkle tree approach.If an NFT is the Metaplex collection mint itself, it stands alone, as it represents a collection, not part of one. NonFungibleEditions follow the same grouping strategy, uniting editions of a master NFT. Lastly, when no association with Magic Eden, Metaplex, or a merkle tree is found, NFTs receive a unique collection_id, signifying a singular collection. Names are then deduced from available off-chain data, again omitting numerical suffixes, and default to the NFT symbol if necessary. ‍How do&nbsp;I create an&nbsp;NFT collection on Solana?We usually recommend adhering the the Metaplex certified collection standard. Creating a certified collection on Solana with the Metaplex standard requires crafting a Collection NFT to store metadata and manage the collection on-chain. This makes identifying and managing collections simpler and verifiable without extra on-chain calls. Regular NFTs are linked to Collection NFTs via a "Belong To" relationship in the Metadata account. A Collection NFT is differentiated from Regular NFTs by the CollectionDetails field, indicating it's a collection with attributes like size—a count of linked NFTs, which can be auto-computed or manually set.To ensure authenticity, the Collection field in an NFT's Metadata must point to the Collection NFT's public key and be verified by the Collection NFT's authority. This verification process prevents fraudulent claims of an NFT belonging to a collection. Marketplaces and explorers must check the Verified boolean; it should be true, indicating the Collection NFT authority has signed off on the NFT being part of the collection.Collection authorities can delegate verification powers to trusted parties for managing collection membership. Metaplex's web tool simplifies creating Collection NFTs and adding NFTs, handling the delegation and verification process. Through it, creators connect their wallets, enter collection details, and select NFTs by mint address, verified creator, or CSV file. Post creation, the collection's parent NFT and member NFTs are managed seamlessly.‍<h3 id="">How do Bitcoin Ordinals collections work?</h3>Bitcoin Ordinals do not use smart contracts. Instead, each NFT is identified by a unique inscription ID. Creating a common inscriptions collection can be much more involved than on other ecosystems, but there are dedicated platforms that make it easier.‍Magic Eden inscription tool:Magic Eden has a easy to use tool for inscribing Ordinals which abstracts away much of the complexity - it can be found <a href="https://magiceden.io/ordinals/inscribe" id="">here</a>.‍‍Use another dedicated platform, like GammaCreators could also consider using another dedicated platform, such as <a href="https://gamma.io/" id="">Gamma.</a>Using Gamma simplifies the inscription process, bypassing the technicalities of Bitcoin Core and direct blockchain interaction, making it more approachable for users looking to easily mint digital assets onto the Bitcoin blockchain.‍Manually create inscriptions using the latest Bitcoin&nbsp;Core clientTo create an inscriptions collection manually on Bitcoin Ordinals, these are the steps involved.Setup:<ul id=""><li id="">Install the latest Bitcoin Core client.</li><li id="">Configure it to index transactions and allow REST interfaces.</li><li id="">Sync the Bitcoin blockchain fully.</li></ul>Tooling and Wallet Creation:<ul id=""><li id="">Obtain the ord utility, a specialized tool for working with Ordinals.</li><li id="">Create a new wallet using Bitcoin Core for managing Ordinal inscriptions.</li></ul>Funding:<ul id=""><li id="">Transfer a small amount of bitcoin to the newly created wallet to cover transaction fees.</li></ul>Content Preparation and Creating Inscriptions:<ul id=""><li id="">Prepare the content for inscription, keeping size limitations in mind to manage fees.</li><li id="">Use the ord utility to inscribe content onto individual satoshis, generating unique inscription IDs.</li></ul>Collections:<ul id=""><li id="">For collections, create parent-child relationships among inscriptions by specifying parent IDs during the inscription process.</li></ul>Transfers:<ul id=""><li id="">Send and receive inscriptions using the ord utility, requiring the recipient’s address for transfers.</li></ul>Throughout the process, maintain vigilance over transaction sizes and fees, and manage your inscriptions using the ord utility while Bitcoin Core runs in the background.‍ <h3 id="">How can I query the information about an NFT&nbsp;collection?</h3>Retrieving this information regarding NFT&nbsp;collections is made complicated without a unified schema. Given NFT&nbsp;collections can be defined on or off chain, on different marketplaces, or in completely different formats depending on the chain, this can be a huge hassle for developers building crypto wallets, portfolio trackers, accounting software, or trading applications. Getting the details regarding NFT&nbsp;collections matters - for building a great user experience, but also to accurately track market data, such as sales &amp; transfers, listings, top bids, and collection-level floor prices.SimpleHash makes it easy to deal with&nbsp;NFT&nbsp;collection data. Using the API, developers can retrieve unique collection Identifiers, which are distinct for each collection, to provide a common approach accross chains and standards, while also supporting multiple-collection contracts. The API provides a unified schema, no matter the collection type, or whether it is defined on or off chain originally. Fundamental attributes like name, description, image_url, and banner_image_url are included to give a basic visual and descriptive representation of the collection. Collections are categorized by type, such as art or gaming, along with a collection's external website and social media platforms, including Twitter, Discord, Instagram, Medium, and Telegram, where available. The API also lists the collection pages across various platforms, including the verification status of a collection on each marketplace. Spam scores are available to assess collection legitimacy, plus financial insights such as floor prices and top bids data. To read more about our collection model, check out the reference spec <a href="https://docs.simplehash.com/reference/collection-model" id="">here</a>.‍<h3 id="">About SimpleHash</h3>SimpleHash provides real-time access to metadata, media, sales, floor prices, listings, bids, collections and more across <a href="https://c.vialoops.com/CL0/https:%2F%2Fdocs.simplehash.com%2Freference%2Fsupported-chains-testnets/1/0100018b97132277-b8537427-abd4-4d07-b3f2-53edfa60cdf7-000000/F0WXzpQSCFKGegVZ3NUTWuTZRouWFMfgPSX6awaYq0M=325" target="_blank" id="">40+ chains</a>.We make it easy to build NFT experiences that users love. We've partnered with some of the leading players in crypto - please <a target="_blank" href="mailto:hello@simplehash.com" id="">reach out</a> if you'd like to learn more.‍

Learn more about how collections differ on each major chain and ecosystem, and how to go about creating them to adhere to the proper standards, and reading the relevant data.

How to Update NFT Metadata

<h3 id="">Introduction</h3>NFT metadata is all of the associated information that provides detail and context to an individual token, or for a collection as a whole. Metadata can be stored on or off chain, but often involves unique attributes, traits, stats regarding the token, along with pointers to associated media files, or the actual imagery itself. Despite the common conception of NFTs as permanent or immutable, it is very possible for the metadata or media to change, usually due to actions taken by the collection creator. In this short How To guide, we're going to walk through how creators can properly initiate NFT&nbsp;metadata updates on both EVM-based chains and Solana, so that they can be easily reflected in indexers, and on popular NFT marketplaces.‍<h3 id="">Why might a creator want to update NFT&nbsp;metadata?</h3>There are many reasons creators might want to update the metadata of individual tokens, or an entire collection. One common reason is for a collection "drop" or "reveal" - where there is preview metadata or media upon the initial mint, and the final form of the media or artwork in the collection is only revealed at a later date. Dynamic NFT collections are another major use case - where the metadata or media may change due to various on or off chain events or state. This is also particularly important for certain web3-based games.‍<h3 id="">How to update NFT&nbsp;metadata correctly on EVM-based chains</h3>EVM-based chains refer to blockchains utilizing the Ethereum Virtual Machine (EVM) - Ethereum itself, and others like Polygon, Base and Zora. If creators are updating the metadata on their EVM-based NFT&nbsp;collections, they should follow these steps, either programmatically, or manually.<ul id=""><li id="">Update the actual metadata or media in question (either overwriting the old content, or uploading it to a new source, such as on IPFS or Arweave)</li><li id="">Triggering one of the following events on-chain: BatchMetadataUpdate, TokenMetadataURIUpdated, TokenURIUpdated, TokenURIRevealed</li></ul>They can also consider requesting a collection refresh on one of the major marketplaces (e.g., OpenSea), which emits signals that are tracked by many other ecosystem sources.‍<h3 id="">How to update NFT&nbsp;metadata correctly on Solana</h3>Collection metadata updates work differently on Solana. Creators will be interacting with the Metaplex Token Metadata program, which is designed to attach metadata to both fungible and non-fungible tokens (NFTs), enabling enhanced functionality such as standardized data recognition by apps and marketplaces. It uses Program Derived Addresses (PDAs) to connect metadata to token mint accounts, storing key data like creator information, royalties, and digital asset details.&nbsp;To interact with the Token&nbsp;Metadata program, Metaplex makes a JS&nbsp;SDK available, more details on which can be found <a href="https://docs.metaplex.com/programs/token-metadata/getting-started" id="">here</a>.Creators will want to use the new unified "Update" instruction set to update&nbsp;NFT&nbsp;metadata. This supports all major types of Solana Metaplex NFTs, namely: ProgrammableNonFungible, NonFungible, NonFungibleEdition, Fungible, and FungibleAsset.When interacting with the metadata program, the UpdateArgs defines the arguments to be passed and updated. None leaves the field unchanged, Some(...) updates it. The asset's update authority can update all user-modifiable fields, while metadata delegates can update only certain fields, as dictated by UpdateArgs variants.‍<h3 id="">Why is it important for creators to correctly update NFT metadata according to standards?</h3>Correctly updating NFT metadata is crucial for seamless integration with indexers and marketplaces, ensuring that changes are reflected promptly to end-users. This synchronization enables the display of current information, circumventing the dissemination of outdated data, which could mislead users and devalue the NFT experience. Adherence to metadata standards is especially important for dynamic NFTs, which can evolve based on predefined triggers. In gaming, for example, an NFT could alter its appearance or attributes as a player achieves new levels or unlocks achievements. This not only enhances the user engagement by providing a more immersive and responsive experience but also potentially increases the NFT's value and uniqueness. By maintaining updated and standard-compliant metadata, creators can provide a robust and dynamic ecosystem that supports a more interactive and enriched NFT landscape.Regardless of the approach taken, or standard used, the SimpleHash NFT&nbsp;indexer will pick up metadata update events, ensuring that changes and updates to individual tokens and collections are reflected, removing this workload from developers.‍<h3 id="">About SimpleHash</h3>SimpleHash provides real-time access to metadata, media, sales, floor prices, listings, bids, collections and more across <a href="https://c.vialoops.com/CL0/https:%2F%2Fdocs.simplehash.com%2Freference%2Fsupported-chains-testnets/1/0100018b97132277-b8537427-abd4-4d07-b3f2-53edfa60cdf7-000000/F0WXzpQSCFKGegVZ3NUTWuTZRouWFMfgPSX6awaYq0M=325" target="_blank" id="">40+ chains</a>.We make it easy to build NFT experiences that users love. We've partnered with some of the leading players in crypto - please <a target="_blank" href="mailto:hello@simplehash.com" id="">reach out</a> if you'd like to learn more.‍

In this post, we're going to walk through how to correctly update NFT metadata - important for collections involving reveals or drops, or for dynamic NFT collections.

How to Track NFT Sales

<h3 id="">Introduction</h3>In the rapidly evolving landscape of digital assets, NFT sales have become a critical metric for investors, creators, and market analysts. Understanding the flow of transactions not only at the individual token level but also across wallets, collections, and entire blockchains is essential for the management and evaluation of portfolios. This article delves into the methodologies and tools necessary to monitor NFT sales comprehensively, a skill set indispensable for anyone involved in the burgeoning sphere of digital assets. Whether you're developing a wallet, curating a portfolio, or integrating NFT data into accounting software, mastering these tracking techniques will provide you with the insights needed to navigate the NFT market with confidence.‍<h4 id="">What is an NFT&nbsp;sale?</h4>An NFT sale signifies the transfer of ownership of a digital asset, usually in exchange for cryptocurrency, most often on a secondary marketplace such as Blur or OpenSea. The event's metadata usually includes details such as the buyer, seller, and the sale price, amongst other fields.NFT&nbsp;developers may want to track NFT&nbsp;sales at different levels of granularity. SimpleHash provides a set of tools making this easy, allowing developers to go from most to least granular. The sales of individual tokens can be tracked, or the sales of NFTs held in a specific wallet, or the sales of NFTs for a given collection, or even all sales on a particular chain, either summarized, or via a firehose stream.There is a distinction between a transfer and a sale. A transfer is exactly that - the movement of an NFT token between one wallet to another, and may not involve a specific payment of tokens. A sale is a subset of a transfer - it almost always involves the exchange of actual cryptocurrency. SimpleHash allows you to query both types of events.‍<h4 id="">How can I track the sales of an individual&nbsp;NFT?</h4>At the token level, SimpleHash has several ways to get sales data.<ul id=""><li id="">The <a href="https://docs.simplehash.com/reference/nfts-by-token-list" id="">NFT&nbsp;by Token List REST&nbsp;API endpoint</a> allows for querying a specific set of NFTs at once. On each response, there is a `last_sale` field, which conveniently includes details on the most recent sale (if any) for that particular token.</li><li id="">The <a href="https://docs.simplehash.com/reference/transfers-by-nft" id="">Sales &amp; Transfers by NFT&nbsp;REST&nbsp;API&nbsp;endpoint</a> provides a full chronological history of all sales and transfers for a given individual NFT token</li></ul>‍<h4 id="">How can I track the sales of the NFTs associated with a wallet?</h4>For many applications (e.g., crypto wallets, portfolio trackers or accounting software), it's useful to be able to display the full sales history of the NFTs moving in and out of a given wallet.<ul id=""><li id="">SimpleHash has a <a href="https://docs.simplehash.com/reference/transfers-by-wallets" id="">Sales &amp; Transfers by Wallet(s) REST&nbsp;API endpoint</a> to do this, for one or many wallets</li><li id="">For push notifications, or other situations where timeliness is key, developers may also want to consider setting up a <a href="https://docs.simplehash.com/reference/webhook-events" id="">webhook</a> to track the sales and transfers for a given wallet address</li></ul>‍<h4 id="">How can I track NFT&nbsp;collection sales?</h4>There are two types of approaches for tracking the sales of NFT&nbsp;collections. One is to look at the individual flow of sales, and the other is to look at more summarized stats of the volume and trends. SimpleHash makes it easy to do either<ul id=""><li id="">SimpleHash has a <a href="https://docs.simplehash.com/reference/transfers-by-collection" id="">Sales &amp;&nbsp;Transfers by Collection REST&nbsp;API&nbsp;endpoint</a> to track all individual sales on a collection</li><li id="">A <a href="https://docs.simplehash.com/reference/webhook-events" id="">webhook</a> event can also be used to track the individual sales and transfers for a given collection</li><li id="">For more summarized collection stats, developers can consider the <a href="https://docs.simplehash.com/reference/collection-volumes-market-caps" id="">Collection&nbsp;Volumes &amp; Market Caps&nbsp;REST&nbsp;API endpoint</a>, which provides the overall sales volume and market caps of specific collections over different time periods (e.g., 1d, 7d, 30d), plus the percentage changes, along with conversions to USD, buyer and seller count, and more. This endpoint is particularly useful for building collection overview pages into an NFT-focused app.</li></ul>‍<h4 id="">How can I track overall NFT&nbsp;sales volume at the chain or marketplace level?</h4>At an even higher level, SimpleHash has a set of convenient endpoints for getting the overall market sales volumes.<ul id=""><li id="">The <a href="https://docs.simplehash.com/reference/sales-volume-by-chains" id="">Sales Volume by Chain(s) REST&nbsp;API endpoint</a> provides a summary of trading volume, by chain and marketplace, for a given time interval. This is useful for getting a high level overview of NFT sales trends for different chains, or marketplaces. It comes with a wash trading filter built in, allowing developers to exclude trading that is likely fake. </li></ul>‍SimpleHash supports sale details from a wide variety of both mainnets and testnets, across all of the major marketplaces, the full list of which can be found <a href="https://docs.simplehash.com/reference/sale-model" id="">here</a>.‍<h4 id="">What else is useful when considering NFT sales data for my app?</h4>Many developers also want to build in "top" and "trending" sales functionality into their app. SimpleHash also has a set of endpoints to do exactly that:<ul id=""><li id=""><a href="https://docs.simplehash.com/reference/top-collections" id="">Top Collections</a> (overall volume)</li><li id=""><a href="https://docs.simplehash.com/reference/trending-collections" id="">Trending Collections</a> (overall, based on the relative increase and uptick in activity across all collections)</li></ul>‍For customers with even larger or heavy-duty applications, SimpleHash also offers a full firehose stream of NFT&nbsp;sales data (i.e., all sales and transfers for a given chain) via our <a href="https://docs.simplehash.com/reference/kafka-schemas" id="">Bulk Service</a>. This provides access to all historical and ongoing sales &amp; transfer events for individual NFTs on the provisioned chain(s), while supporting high throughput and scalability. If a developer is interested in the sales of more than a few hundred collections or wallets, this is usually the more cost-effection option.Have more questions about NFT&nbsp;sales? Feel free to reach out to us at <a href="mailto:hello@simplehash.com" id="">hello@simplehash.com</a> - we'd love to chat about your requirements and use-case.‍

Learn how to track NFT sales at the token, wallet, collection and chain level, a crucial part of any wallet, portfolio or accounting application involving digital assets.