Value Sources (API Endpoints and Oracle Addresses)

Concept: The ART20 module can associate collections with external value sources—either API endpoints or oracle addresses—to enable dynamic NFT attributes. For example, you might use a real-world data feed to adjust the NFT’s displayed rarity or price based on external market conditions.

Implementation:

  • Set Value Source: Call set_collection_value_source(...) in ART20, specifying whether it’s an API endpoint or an oracle address.

  • API Sources:

    • These must start with https:// and must be of a certain length.

    • The NFT’s metadata can be periodically updated based on responses from this endpoint.

  • Oracle Addresses:

    • Typically represented as a 64-character hex string.

    • On-chain oracles can feed verified, tamper-resistant data directly into your NFT’s attributes.

Best Practices:

  • Choose reliable, reputable APIs or oracles to ensure data integrity.

  • Keep updates infrequent to avoid overloading your system or introducing instability.

  • Clearly communicate to users how and why NFT attributes might change based on these external data sources.

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