NFT Basics

Danielle : NFTignition


Do you like collecting? Remember Pokemon cards?

If you have ever been a collector, NFTs might be for you. They are a new type of collectible that is entirely digital.

NFTs can be art, weapons in your favorite game, NBA cards, and many other things. But most importantly they are a new way for you to have fun and even make some money.

How can these new collectibles make you money? The value of them often goes up, and you can simply resell when this happens. Similar to when your fathers stamp collection went up because those stamps were no longer being made. Or if you are an artist, it is a great new way to sell your art.

If you want to take part in this new type of collectible, read some of the pages below for more information.


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NFT basics

NFT or Nonfungible Tokens, are unique and they are not mutually interchangeable. And i don't just mean every different type of NFT but also the individual copies are unique.

You can compare two NFTs from the same mint and you would be able to see that they are different and how their history is different. This means that each piece has its own value both sentimentality and also monetarily.

A physical example of this could be: your father and his classmates made grandfather clocks in middle school shop class, they both today could have the same value monetarily, but you don't want the one someone else made, you want the one your father made.

NFT is a type of cryptocurrency, but unlike most tokens this one has images or videos attached. Every NFT is linked to the person who created it, as well as everyone who has every owned it since it was created, you can see the prices it was sold at, and how often it sells. You can also see the other items this artist creates or even just buys personally. Often you can link to the artist profile or 3Box through Rarible and see some of their credentials in addition to seeing their work.

NFTs are not just pictures, they can be many things. For example: insurance policies, redeemable event tickets, characters/weapons for your character in your favorite game, a song, a video, ENS domains, with some NFTs you can even mine with them or stake gems inside of them

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

NFT FAQ

Why NFTs?
I have always feared that with technology came the fall of arts. We have seen art programs die in schools and the value we put on art died long before that. With NFT we are able to ensure that art has a foothold in the technological revolution, and artist can again find their value.
Stop undervaluing your work! NFTignition

What does NFT stand for?
Nonfungible Tokens, each one is unique and they are not mutually interchangeable
What does this mean?
It means you could have 2 of the exact same NFTs and you would be able to see that they are different and how their history is different.

Can the prices change for an NFT?
Yes, the artist can change the price on listings. And if there is more than one copy of the NFT then there could be people other than the artist selling them at whatever price they determine to sell at. If you like something but it is out of your price range, there is an option on Open Sea to send a lower offer.

Are NFTs just pictures?
Nope, they can also be:
-Insurance policies
-Videos
-Mp4s
-Redeemable tickets
-Merch discounts
-NFTbasic sessions one-on-one with NFTignition :)
-Weapons/Characters in a video game
-Bonuses in a video game
-Raffle Tickets

What makes some pieces so valuable?
There are several factors that contribute to the value of the NFTs:
Collection- are they native to any crypto token/project like MEME or vNFT, PGFK, or even a game like Axies. Or are they a piece of art? This is two very different types of NFT and they are priced based on different things.
Crypto-token- NFTs will most likely be worth more than a piece of equal quality due to the fact that they have some type of utility, even sometimes if its just collecting (like MEME).
Art- is very much priced based on the artists reputation, very much the same as physical art. If an artist is popular even just based on their Twitter followers, their pieces can sell for much more.

I got an NFT airdropped, what now? Where is it?
If you gave someone your ETH address to recieve an airdrop, it is probably already in your wallet. You can only access these certain ways.
I recommend going to opensea.io and linking your wallet, once you do you will already have an account and can access 'my items' to see the airdropped NFT.

What are royalties?
When an artist mints a token they are able to pick a percentage of royalties (usually 10%) this amount will be paid back to the original artist on every resale through Rarible or OpenSea.

Any questions I missed? Please let me know!

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

verification

When you are looking to purchase an NFT from a popular large collection (MEME for example) you should start from the MEME ltd section on the left of the screen or use one of the links below.
If you are looking to purchase a NFT and you are not sure about it, you should always check the history of that piece. Look into the other items that artist has created and see if everything is as it should be: if this is supposed to be a MEME collection you should expect to see every MEME item for sale under the same creator not just a couple. You would also expect to see a lot of sale and at a high amount.


As you can see by the links below, it can be pretty easy to tell a real from a fake if you are on Open Sea
MEME: https://opensea.io/assets/meme-ltd
PGFK:https://opensea.io/assets/pgfks
vNFT: https://opensea.io/assets/vnft

In the popular NFTs sections you will see many other links to verified results :)

bundles

When purchasing a bundle it is important to verify all items individually in that bundle. Sometimes one item will be correct and therefore the entire bundle will show on the marketplace for that collection. Please verify all pieces individually!
Here is an example of PGFK bundle where one is verified and the rest are not, notice the check mark on only one item.

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Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

minting

Minting an NFT, is the process of creating NFTs from files (jpg/png/gif).
You should only ever mint a NFT that is 100% original and yours.
When you are ready (see other section for ETH and wallets), you can go to rarible.com.
First you will need to link your wallet.
Click 'create collectible'. From here this process is quite simple: Upload file, fill in the information, submit.
You will then pay the gas fees/sign the sale order and the item will show up in your collection shortly.
Once minted on Rarible, you can also go to opensea.io to list the same items on there.

When you mint, you pay one fee per NFT no matter how many copies you make, if it's 1 or 10,000 the fee will be the same (usually $2-$10)

CARGO minting

If you are minting very large files, or complex file types, I recommend minting with CARGO.
You can upload the files that are too large to upload to any other platform. Your prints also mint 1 by 1. So if you print 5 copies of something, you will see 5 individual mints in your wallet instead of 1 with 5 copies stacked.

A little known fact about Cargo is that, if you have created a collection, you can update your NFTs after you have created them. This means you can mint as many NFTs as you want up front and modify them later. You can think of it as minting blank canvases to be used when you are ready. You can create as many NFTs as you want with Cargo as long as you have enough Cargo credits. One Cargo credit is equivalent to one mint.

When using cargo you can pay $1.99 per mint with a credit card and not even deal with any ETH, this can be ideal for a beginner if they make high detail pictures with few prints.
There is also 2 other minting options:
Mint collectible with 1 Cargo Credit + ETH
Create collection, create within collection (given 25 credits while) + ETH
This DOES cost more than Rarible, but if you have a high quality image this is the ONLY way to show it's true beauty within the NFT.

Rarible Minting

Minting on Rarible only requires ETH, no gems or credits or collections, so it is great for a beginner. You also pay the same price no matter how many copies of that mint you make, so this makes it much cheaper to use Rarible if you are minting multiples.

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

ETHER and ETHEREUM

Ethereum is the platform that the NFTs are built onto, Ether (ETH) is the fees/gas associated with making any changes in this system. Anytime you want to make a change you will be charged a fee to do so, at this time this is unavoidable. In this case, the changes we may wish to make could be: Minting a new NFT, transferring (by purchase or gifting), sometimes even burning NFTs.
In order to mint or buy #NFTs you will need to have ETH in your wallet for these fees.
Minting can cost from $2-$10 depending on how high the fees are when you mint.
Remember you can always mint later when the fees are lower, do not waste $8 per NFT just to save a couple hours.

Note: When you mint, you pay one fee per NFT no matter how many copies you make, if it's 1 or 10,000 the fee will be the same.

WAllets

The ETH that you purchase, as well as the NFTs will need to be stored within a wallet. There are many different types of wallets, most of which will work with Rarible and Open Sea. If you do not already currently have a wallet, I would suggest using MetaMask or Trustwallet. You can purchase the ETH directly in your wallet, or transfer over from another wallet/exchange.
If you purchase an NFT on Rarible, and then go to Open Sea after that and link the same wallet, you will see the same item. Not only can you see the same collection on both sites, but you can also have your items listed for sale simultaneously even if you only have one for sale.

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

Pricing

The ETH that you purchase, as well as the NFTs will need to be stored within a wallet. There are many different types of wallets, most of which will work with Rarible and Pricing your art, is very difficult as a beginning artist.
Often times you sell your first collection for much less while building a reputation for yourself.
Pricing a piece depends on the time it took, your experience, number of prints, etc. Determine the amount you think is fair for a piece, and divide this by the number of pieces you are selling.

For example: I made a dragon NFT I think my time and effort were worth $400.

So you can either:
sell 1 copy at $400
Sell 10 copies for $40 each
sell 100 copies for $4 each

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

Popular NFT collections

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com

NFTbasics Sessions

Nftbasic sessions are held with NFTignition and last about 30 min (scheduled in advance). Sessions can be used in many ways:
-Basic NFT lessons
-Artist Portfolio Assessment
-Artist Marketing Advice
-Technical help with NFTs
-General NFT chats (you can literally just shill me your projects for 30 min as long as they are NFT related)

Only 10 NFTsession cards are available, they will be returned upon redemption and then resold.

All Donations can be sent to: 0x7619661e0F4e36482664b43B567eF4B9aE793689
Please also feel free to send us an email so we can thank you for your donation! NFTignition@gmail.com