In this article, we'll delve into everything about cNFTs while covering some updates to cNFTs on Magic Eden.
What are cNFTs?
cNFT stands for "compressed NFT," and they offer a cost-effective and scalable approach to NFT creation. Unlike traditional Solana NFTs, cNFTs compress their data and store it off-chain, making them more affordable to produce in large quantities. They are ideal for mass-produced NFTs, including those related to gaming, music, events, and the metaverse. Despite their affordability, cNFTs can still be rare and exclusive, providing an accessible way to create collectibles for a wider audience.
cNFT tech differences
In the realm of cNFTs, several key technical distinctions set them apart. First, traditional NFTs are no longer fully confined to the blockchain, as cNFTs employ off-chain storage for their data. These compressed NFTs are not native Solana tokens; they lack a dedicated token account, mint account, or associated metadata. Most notably, cNFTs are intricately linked through MCC (Metaplex Certified Collection), allowing efficient organization.
Learn more about the technology behind cNFTs with these resources:
Helius - What are Compressed NFTs: Explore the concept of Compressed NFTs on Solana and their underlying technology in this comprehensive guide from Helius.
Official Bubblegum docs: Learn about Bubblegum, a key component in creating and managing Compressed NFTs, in the official documentation from the Metaplex Foundation.
XRAY: To gain insights into cNFTs and explore the cNFT ecosystem, you can use XRAY. XRAY is a block explorer tailored for cNFTs, providing an intuitive platform to browse, search, and analyze cNFT transactions, addresses, and associated data.
Collections page
cNFTs coexist with traditional NFTs under the same MCC collection. This unified presentation allows you to appreciate the collection in one place.
Changes to cNFT Support on Magic Eden
Magic Eden is updating how cNFTs are supported on the platform.
Going forward:
New cNFT collections will no longer be indexed on Magic Eden
Most existing cNFT collections will no longer be supported or surfaced on the platform
A small number of established cNFT collections will continue to be available
This means cNFT support on Magic Eden will become more limited over time.
What this means for creators
If you are creating a new cNFT collection, it will not be indexed on Magic Eden going forward.
Magic Eden will no longer add support for new cNFT collections.
What this means for collectors
If you hold a cNFT from a collection that is no longer supported on Magic Eden:
The asset will still belong to you and remain tied to your wallet
The collection may no longer appear across Magic Eden surfaces such as search, collection pages, or profile views
Trading support for that collection may no longer be available on Magic Eden
If a cNFT collection remains supported, it may continue to appear on the platform as normal.
Need additional help?
If you still have questions after reviewing the articles above, please contact Magic Eden Support.