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An NFTSet contains a number of NFTModels, which contain a number of NFTs
Note that because Niftory supports minting lazily, you can create all these objects in the Admin Portal without minting them, display them to users, and delay the mint step until the actual NFT Transfer (which will handle minting automatically).
This is possible because Niftory API combines both on-chain and off-chain data into one API. When you are querying the API, it is returning data from the Niftory database. The database is updated automatically to represent the source-of-truth on the blockchain.