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.