Algorand - Assets, NFTs and Fungible Tokens

Modified on Wed, 08 Feb 2023 at 10:52 AM

Algorand and Assets

Tatum's support of Algorand includes receiving an asset into the account via the following endpoint.

To successfully enable a specific asset reception, the related "assetId" must be first available in the blockchain.

Algorand and NFT minting and transfer

An NFT minted on Algorand is automatically transferred to your blockchain address. After the NFT is minted, you have to transfer it to the recipient's address.

How this works

  1. Mint NFTs on Algorand via this API endpoint with REQUEST BODY SCHEMA: MintNftAlgorand OR MintNftExpressAlgorand.
  2. The recipient agrees to receive the NFT at their address.
  3. You transfer the NFT to the recipient's address with REQUEST BODY SCHEMA: transferNftAlgo OR transferNftAlgoExpress.

Algorand and fungible token transfer

Transferring fungible tokens on Algorand can be done via the following endpoint using REQUEST BODY SCHEMA: ChainTransferAlgoErc20

Good to know

  • The recipient of an Asset over Algorand has to agree in advance to receive it. The same applies to NFTs because Algorand charges users for storing NFTs on their addresses, and an Algorand blockchain address by default does not receive NFTs unless explicitly agreed.
  • On the mainnet, Tatum covers your transaction fees for the NFT transfer and pays for them from its own blockchain address. Then, the fee amount paid by Tatum is converted to the number of credits, and these credits are deducted from the monthly credit allowance of your paid pricing plan.
  • On the testnet, no credits are deducted from the monthly credit allowance. 

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article