NFT enthusiasts now have the ability, as a result of recent events, to build NFTs using Monero. However, in order to construct them, one requires the capacity to do certain operations on any blockchain using their favorite NFT. This is a must before one can create them.
— Anon Shop 📦 (@AnonShopApp) February 13, 2023
How to build your NFT
First, every user will be required to hash a picture, then that hash will be embedded into the blockchain, and finally, a rule and platform will need to be established to track the hashed image along the chain. Hash values are absolutely unique to each photo, and anybody can verify that this is the case by using a hashing algorithm on the image. Hashes are used in every blockchain as a kind of internal security.
Users of Monero may utilize the tx extra feature of the cryptocurrency to embed their hash into a transaction while the picture is being embedded. There is presently no limit placed on the amount of space that may be occupied by this data. With the use of this function, users are even able to insert a whole PDF document onto the Monero blockchain.
Tracking of NFTs
Because Monero forbids anyone from simply monitoring real currencies, keeping track of your non-fungible tokens (NFTs) on its blockchain would be difficult. However, this restriction may be circumvented by establishing certain rules and using Feather Wallet to enforce those rules.
By using the In proof as well as the other proofs that are available in Featherwallet, Monero is able to demonstrate ownership of addresses as well as the NFT outputs associated with those addresses. Leather wallet capabilities enable the company to reduce the level of anonymity they maintain on the XMR blockchain and publish our own transaction information in order to demonstrate that we are adhering to the XMR NFT.
However, according to the statement released by the company, this approach to the creation of NFTs on Monero is quite stupid. It’s possible that this NFT system may be redesigned in such a way as to produce private NFTs that could be concealed and exchanged in secret.
After then, they may be shown to certain people, sold, and then concealed once again.
It’s possible that the proving phase of monitoring the NFT on Monero will be more difficult and will need additional proof in order to be elegant. If the company were to reveal wallet view private keys and key pictures, this may be considered a brute force or worst-case scenario method.