As a developer in this space, I’ve participated in numerous drops and have written Solidity code for all kinds of projects. I’ve also seen a lot of projects that have failed, and you’ve guessed it, for developer-related reasons. If you consider hiring one for your project and are ready to give up more than 10% of the total sales, I’d suggest you read this article.
All NFT Smart Contracts are the same.
If you didn’t know, most of the NFT Smart Contracts that are published today derive from ERC-721/1155, written and maintained by a company called OpenZeppelin. This company is the leading expert in Solidity, setting the standards on many Smart Contracts today.
If you hire a developer, most likely, your contracts will be a version derived from OpenZeppelin. You can use their Contracts Wizard, deploy your ERC-721 contract without any help from a developer.
It’s wise because their contracts are fully audited, and you don’t want to reinvent the wheel.
If you browse through Etherscan, you can copy-paste a lot of the code from popular projects like Bored Ape Yacht Club. Creating an NFT Smart Contract is straightforward; you don’t need a developer.
You won’t have control of your Smart Contract.
Did your developer deploy the Smart Contract? Then you are out of luck because you now have someone else in control of your Smart Contract. Did you have to share the private keys? That’s a big no-no in the Web3 space.
Don’t give up control of your Smart Contract because you create a massive risk for your project. Countless projects have been held at ransom by malicious developers who did not give any control to their “partners.” It’s not a great feeling to give so much “trust” in this “decentralized, trustless” environment. You immediately lose leverage, and you could be dealing with more issues than it’s worth.
Developers often make mistakes.
There are plenty of 10,000 projects that ended up selling 9,999 because of off-by-one error. It’s an easy mistake to make, and most developers don’t end up testing their mint to 10,000.
There are also projects with significant security vulnerabilities, which cost their reputation and the drop. There’s honestly no coming back from it; they immediately lose credibility.
There’s no good way to enforce good code quality, especially if you don’t know how to code yourself. Trusting a developer not to make a mistake can often be risky. Without proper unit tests, you could be risking the project from security risks that may cost you more than just money.
If you are not technical and looking to start an NFT project, you should think hard about hiring a developer. Smart Contracts are irreversible, monetary entities that exist on the blockchain. Your project’s future depends on a single person not making any mistakes and giving them complete control of its future.
NiftyKit is a no-code Smart Contract platform that allows you to deploy Smart Contracts without a developer. You own the Smart Contract because you deployed it with your wallet. NiftyKit provides seamless UI to manage your Smart Contract.
Read more about it here: https://niftykit.com/nft-collection-dropkit/