Mint Passes

In addition to MintCap, we provide an abstraction called MintPass. Whilst MintCap serves as a limited or unlimited mint authority, a MintPas is a pass that allows its owner to mint a certain amount of NFTs. The key difference between MintCaps and MintPasses, is that Mint Passes are not fungible, because they can have metadata embedded in them.

In summary, the core differences are:

• MintCaps are fungible and therefore can split and merge;

• MintPasses are created from Mint Caps;

• MintPasses are not fungible and can have embedded metadata;

The core motivation of using Mint Passes is that we can use OriginByte Launchpad V2, to act as a factory for NFTs that have not been created yet. The Factory can generate Mint Passes with serialized metadata, and the buyer of those passes can use them to mint the NFT. The data of the NFT will be generated from the metadata in the pass.

This is extremely powerful because it allows for on-the-fly minting from the Launchpad, where the Factory can help generate NFTs with any given metadata. For example, Creators can build a Delayed Reveal sale by adding encrypted metadata to Mint Passes and sell them on the Launchpad. On the reveal date, the Creator can inject the secret key on-chain to decrypt the metadata and the buyers can mint the NFTs. In the process of minting the NFTs, the metadata gets decrypted and added to the NFTs themselves.