Solana Sunday: Minting NFTs with Candy Machine v3

Metaplex’s latest update to their Candy Machine is causing excitement within the Solana network. The popular NFT creation toolkit has been utilized constantly since the rise of NFTs and is one of the driving forces behind many Solana collections. 

According to Metaplex’s documentation, the candy machine has been responsible for over 78% of the NFTs on Solana which is a massive utilization for the program. With the latest update to their candy machine, Solana NFTs might be beginning to take a significant leap ahead of their Ethereum competitors. 

The Metaplex Foundation’s new Candy Machine v3 comes redesigned with a flexible modular architecture. New features can now be added on a separate contract outside of the minting contract — fueling the next generation of NFTs.https://t.co/RnVILtrNSU pic.twitter.com/8KI03DchbL

— Metaplex (@metaplex) October 11, 2022

Candy Machine v3 Updates

The third iteration of the Candy Machine brings significant changes to the program that was originally running under one primary contract that facilitated the minting logic. This was how most NFTs on the Solana network were created, however that contract has now been broken up into two separate contracts in an effort to modularize the program. 

Candy Guard

The new contract created by the third version of Candy Machine is called the Candy Guard which hosts all of the access controls which enable developers to modify the minting experience without breaking the actual minting process. 

Access Control Modules

Through the access controls, developers are given a list of modules that they can interact with to modify the minting experience. Due to their modularity, each function can act separately which provides a greater level of customization for the developers, meaning that the next series of Solana NFTs will be quite unique compared to their predecessors. 

1. Mint Time
   Module one allows the developers to choose when the minting will begin and when it will end. This is especially helpful because many issues involved with smart contracts are not normally noticed until everything is near conclusion, so having the ability to quickly change the mint times can become an extraordinary convenience. 

2. Payments
   Due to the volatility of most cryptocurrencies, Metaplex has also included an option to help configure wallets and payments. According to their documentation, there are additional guards available to assist with payments in different tokens or NFTs. 

3. Token-Gating
   Exclusivity is a major part of the NFT experience and one factor in the value that they store. With a token-gating module, Candy Guard will be able to give developers more fine-tuning options when determining who can mint a certain collection. 

4. Allow List
   Metaplex has gone a step further with their minting machine by creating a module that takes account of the current buying process for most NFT collections which is the allow list (also known as the whitelist). 
   By giving developers further controls, they are able to create a more hassle-free allow list that can be utilized for hyped NFT projects that expect a large amount of attention and activity. 

What is the Candy Machine?

The candy machine is a minting and distribution program created by Metaplex that allows users to create NFT collections on the Solana network. According to Metaplex, the Candy Machine is responsible for nearly 80% of the network’s collections, marking it as an integral part of the Solana ecosystem. 

The program works similarly to a physical candy machine where developers are required to create the content and metadata which is then placed inside the program. Once inside the program, users are then able to mint NFTs which are then given to them by the minting machine. 

What is Metaplex

Metaplex is a collection of tools that allow creatives and developers to design and deploy new NFT collections on the Solana network. They are constantly pushing to better the Solana ecosystem and are quite involved with the various communities. Some of the most well-known collections on Solana, such as DeGods and Okay Bears, have been developed using the Candy Machine, according to their website. 

In a recent blog, they announced their stance on royalties and how some projects and Dapps are looking to override their presence, which the team at Metaplex is against. They have stated that the relationship between the buyer and the creator is one of the aspects that makes NFTs unique and valuable for artists. With their commitment to the art and technology behind web3, the next wave of Solana NFTs is looking strong.