NFT contracts, are smart contracts and serve as the foundational protocols responsible for minting and managing unique digital assets. These contracts, typically adhering to standards such as ERC-721 or ERC-1155, provide a standardized framework for the creation and identification of individual NFTs.
NFT collections represent curated groupings of these tokens, often organized around common themes, styles, or projects. Collections are usually off-chain representations and are commonly tied to specific NFT marketplaces. They group NFTs together for easier categorization or presentation.
Definition: A contract in blockchain usually refers to a smart contract, which is a self-executing contract with the terms of the agreement between buyer and seller directly written into code.
NFT Issuance: On platforms like Ethereum (EVM-based chains), an NFT contract represents a smart contract (commonly based on standards like ERC-721 or ERC-1155) that issues NFTs.
On-chain Address: Each contract has a unique on-chain address. NFTs within a contract are identified by the combination of their contract address and individual token
Consistency: Contracts remain the same no matter which marketplace or protocol is interacting with the NFT. They are represented on-chain with a fixed address.
Definition: A collection in the context of blockchain typically refers to a grouping of NFTs, often with shared characteristics, themes, or purposes.
NFT Grouping: Collections are usually off-chain representations and are commonly tied to specific NFT marketplaces. They group NFTs together for easier categorization or presentation.
Identifiers: Collections may be represented by different identifiers across different marketplaces and protocols. They are often associated with a specific NFT marketplace, and examples include the Venly Market collections.
Variability: While contracts and collections are often 1:1 (i.e., a collection corresponds to a single contract), this is not always the case. There can be situations where a collection contains NFTs from multiple contracts or vice versa.
Example: The MetaRing collection on the Venly Market is an example of an NFT collection.
In summary, a contract in blockchain typically refers to a smart contract responsible for issuing NFTs, while a collection refers to a grouping of NFTs often associated with a specific off-chain representation tied to a marketplace. The contract is the technical foundation for NFTs, while the collection provides a way to organize and present NFTs in a user-friendly manner, often within the context of a particular marketplace like the Venly Market.
Updated 17 days ago