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These unique +digital tokens represent ownership of a wide range of digital and physical +items, from artwork to collectibles, music, and more. To facilitate the creation +and exchange of NFTs, various NFT standards, such as the ERC-721, have emerged, +each with its own set of rules and specifications. + +Among these NFT standards, [Marmalade](https://github.com/kadena-io/marmalade), +powered by Kadena, stands out as one of the most unique and innovative +standards. Marmalade is set to provide the complete infrastructure to seamlessly +create & launch a game-changing NFT experience. + +In this article, we will explore the concept of NFT standards, highlight some of +the challenges facing existing standards, and delve into the distinct features +that set Marmalade apart from the rest. + +## What is an NFT standard? + +An NFT standard refers to a set of rules and specifications that dictate how +non-fungible tokens (NFTs) are created, stored, and interacted with on a +particular blockchain. + +Standards are essential because they ensure interoperability and compatibility +between different NFT platforms, wallets, and marketplaces. They provide a +common framework for developers to create and manage NFTs, making it easier for +users to understand how these tokens work and to trade them across various +ecosystems. + +The most well-known and earliest NFT standard is the ERC-721. It is an +Ethereum-based standard used to create indivisible and unique tokens, making it +suitable for digital art and collectibles. + +## Challenges with Existing NFT Standards + +![Challenges with Existing NFT Standards](/assets/blog/2023/1_q1leW8rcg5ayTYWgwvh_zw.webp) + +Despite the success and widespread adoption of NFTs, several challenges persist +within existing NFT standards. + +1. Scalability Issues and High Gas Fees Many NFT standards, particularly those + on the Ethereum blockchain, face scalability issues. This results in high gas + fees and slow transaction times during periods of high demand, making NFT + creation, buying, and selling expensive and inconvenient. + +2. High Transaction Fees or Non-transparent Fee Structure + + Transaction fees on blockchain networks can be prohibitively high, especially + during network congestion. This impacts the profitability and accessibility + of NFT marketplaces. + +3. Lack of Built-in Mechanisms for Specific Requirements NFT standards typically + lack built-in mechanisms to enforce specific requirements during NFT sales, + such as royalties, leaving this responsibility to external platforms and + mechanisms. + +4. Limited Secondary Market Control Original creators often have little control + over subsequent sales and pricing on secondary markets, impacting long-term + value appreciation. + +## Marmalade V2 is the Solution + +![Challenges with Existing NFT Standards](/assets/blog/2023/1_dT9Mzuz81Rgl-ci_JHkj-Q.webp) + +1. Marmalade, developed on the Kadena blockchain, addresses many of the + challenges present in existing NFT standards, offering several unique + solutions + + On-Chain Royalties/Enforceable Royalties: Marmalade includes built-in + mechanisms for enforcing royalties during NFT sales, ensuring that creators + are fairly compensated for their work for every single transaction. + +2. Escrow Accounts + + With its integrated escrow accounts for NFT transactions, Marmalade + guarantees the safety of both buyers and sellers, delivering an outstanding + user experience and ensuring flawlessly secure and trust-free transactions + for complete peace of mind. + +3. Limitless Customization with “Token Policies” + + Marmalade empowers creators with a dynamic platform, allowing them to craft + and personalize features, or “policies”, uniquely suited to their NFTs. With + a user-friendly toolset, the NFT creation process is made remarkably + straightforward. Creators wield full authority over the issuance of their + NFTs, with the ability to finely tune factors such as total supply (the + number of NFTs in circulation) and the allocation of units for transfer. This + flexibility and adaptability are at the core of Marmalade’s distinctive + appeal, enabling creators to fully realize their vision and tailor their NFT + projects to their specific needs. + +4. Minimal Gas Fees Marmalade significantly reduces or eliminates gas fees, + making it more cost-effective for artists and collectors to participate in + the NFT market. Marmalade is powered by Pact, Kadena’s smart contract + language. Pact allows NFT projects to optimize the user experience by + integrating “gas stations” into their applications. These “gas stations” + serve as mechanisms for covering the expenses tied to blockchain + transactions. Consequently, users can seamlessly generate NFTs without the + need to directly engage with the intricacies of blockchain technology. This + streamlined process ensures a user-friendly and efficient experience, devoid + of the complexities typically associated with blockchain interactions. + +### An Elevated NFT Experience + +Marmalade’s unwavering commitment to democratizing NFT creation is a commendable +endeavor that aims to redefine the way we approach digital art and collectibles. +By removing barriers and making this innovative technology accessible to a +broader spectrum of individuals, Marmalade is opening the doors to a new era of +artistic and collectible expression. + +Get ready to elevate the NFT experience as we pave the way for a more diverse, +scalable, and secure future.