How to Read Solana NFT Metadata and On-Chain Data

NFT value isn’t just in the image. Metadata contains important information like NFT properties, rarity, and history. This guide explores understanding Solana NFT metadata structure and how to check it directly.

What is Metadata?

Metadata is data about data. NFT metadata contains information about that NFT.

Typical NFT metadata includes the following information. Name is the NFT’s unique name. Symbol is the collection’s symbol. Description describes the NFT. Image is the NFT image file’s URL. Attributes are the NFT’s property list.

Attributes are key elements determining NFT rarity. For example, background color, outfit, accessories are defined as attributes.

Solana NFT Metadata Structure

On Solana, metadata structure following the Metaplex standard is used.

On-chain, a Metadata Account is stored. This account contains basic information like name, symbol, metadata URI. Complete metadata is in external storage pointed to by the URI.

Off-chain metadata is usually JSON format. It’s stored on Arweave, IPFS, or regular web servers. This JSON contains image URLs, attribute arrays, additional information, etc.

Typical metadata JSON structure is as follows. The name field has the NFT name, symbol has collection symbol, description has description, image has image URL. In the attributes array, each attribute is stored as trait_type and value pairs.

How to Check Metadata

There are several ways to directly check NFT metadata.

Checking on marketplaces is easiest. Clicking an NFT on Magic Eden or Tensor displays property information. You can also view each attribute’s rarity percentage.

You can also use Solana Explorer. Searching for an NFT’s mint address in Explorer shows information stored on-chain. Finding and directly visiting the metadata URI shows the complete JSON.

Using APIs allows programmatic access. NFT metadata can be queried through APIs like Helius, SimpleHash, etc.

Analyzing On-Chain Data

On-chain data is verifiable information directly recorded on the blockchain.

Ownership information can be verified. Querying the token account reveals the current owner’s wallet address.

Transaction history can be tracked. All transactions related to that NFT can be viewed chronologically. Minting time, sales history, transfer records can be verified.

Minting information can be checked. You can know when and by whom the NFT was minted.

Collection information can be verified. In Metaplex standard, NFTs of the same collection are grouped through collection NFTs.

Using Explorer

How to check NFT information on Solana Explorer (explorer.solana.com).

You need to know the NFT’s mint address. Looking at NFT details on marketplaces or wallets shows the Mint Address.

Enter the mint address in Explorer’s search bar. A token information page appears.

Various data can be checked from token information. Basic information like current supply, decimal places, mint authority exists.

In the metadata tab, you can view on-chain metadata. Clicking the metadata URI goes to the off-chain JSON file.

In the transactions tab, you can view all transaction records related to that token.

Analyzing Rarity

Analyzing metadata attributes helps judge NFT rarity.

Check how common each attribute value is within the collection. For example, if gold backgrounds only exist in 1% of the entire collection, it’s rare.

NFTs with multiple rare attributes may be more valuable. However, whether attributes are popular in the market also matters.

Using rarity tools is convenient. You can use marketplace built-in features or separate rarity check sites.

Metadata Updates

Some NFTs can have their metadata updated.

Entities with Update Authority can change metadata. Usually project teams have this authority.

Metadata updates during the Reveal process. Hidden images at minting change to actual images after reveal.

Some projects revoke update authority. In this case, metadata can no longer be changed, guaranteeing immutability.

Metadata changeability can affect investment decisions. If teams can arbitrarily change attributes, it becomes a risk factor.

Understanding Image Storage

Where NFT images are stored also matters.

Arweave is a decentralized storage guaranteeing permanent storage. Once stored, it cannot be deleted, making it safest.

IPFS is also decentralized storage, but someone must pin the file to maintain it. If no nodes pin it, files can disappear.

Regular web servers (HTTP) are centralized, so if servers go down, images become inaccessible.

Check which protocol the metadata URI uses. ar:// is Arweave, ipfs:// is IPFS, https:// is regular web server.

Conclusion

Understanding metadata and on-chain data allows deeper NFT analysis. Beyond superficial images, you can grasp hidden information and make wiser investment decisions.

It may seem complex at first, but becomes familiar after checking a few times. Actively use explorers and APIs to develop data-based analytical abilities.

In the next guide, we’ll learn how to participate in Solana NFT communities.