NFT Metadata Update Oracles - CIP 86 - NFT Guild RoundTable #17
The 17th NFT Guild Roundtable was all about CIP 86 - NFT Metadata Update Oracles.
Nicolas Ayotte (aka. Fencemaker), the main contributor to the CIP, gave a brief presentation on what the CIP is all about and what it’s trying to accomplish. It was followed by a Q&A session and an open discussion.
In short, the proposal extends the CIP-25 standard for defining and updating token metadata via transaction metadata, by providing a new mechanism to update token metadata without having to mint or burn tokens, while maintaining full backward compatibility with CIP-25. The new mechanism is capable of expressing metadata updates more efficiently than CIP-25 updates.
The Motivation section of the proposal offers a lot more details on why this is a good idea and why it would be a much needed development for a lot of the potential use cases of NFTs on Cardano.
