So you sure have heard of crypto, ethereum, wazirx or NFTs, right? Cool.
Here trying to explain how to setup a cryptocurrency wallet and help you collect your first NFT, so that you support more of my art. Thank you. You are a sweetheart. All sweethearts deserve appreciation. So at the end of this article is a form, which will get you a free NFT from one my collection Mind Blowing - A research in A.I. art, human forms and colours.
Okay, so you know NFT stands for Non Fungible Token.
Yes. But what? Why? How? Where?
Non-fungible tokens (NFTs) are cryptographically unique tokens that are linked to digital (and sometimes physical) content, providing proof of ownership.
NFTs work as a collectible token that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork). In terms of physical art, like collecting an Oil Canvas : anyone can buy a Mona Lisa print. But only one person can own the original.
Yes. You are right anyone can download the digital file but it is more about tracing it back to the original artist and hence the value(vis Smart Contracts). NFTs, or non-fungible tokens, can be thought of as certificates of authenticity – they are specific to a particular artwork, and they are one-of-a-kind (The artist controls this). When you acquire an NFT from a genuine artist, you can be sure that the associated artwork is genuine, even if the digital file is copied or shared on multiple platforms like Instagram.
In even simpler terms, it is a new way of collecting and selling art, which empowers both the artist and the collector. The artist would always earn a royalty whenever the artwork is sold further in the secondary market with the royalty transferred automatically to their wallet. The collector would invest in the artist they believe in with the hope that the value of it goes up one day, so as to sell it for a profit. Win win.
NFTs and the communities involved have empowered artists ranging from digital artists, musicians, poets to even artists offering physical assets.
It has surely empowered and motivated me to stay in the space.
Okay so there are millions of NFTs and even more of articles on the Internet to know more from. Let us go ahead and make a crypto wallet for you.
Connecting to the blockchain via your digital wallet.
At the heart of blockchain technology is complex encryption. This makes blockchains safe and reliable, but it also means that the traditional internet doesn’t easily connect directly with blockchain ledgers. Instead, collectors and creators connect to the blockchain through a digital wallet. This free piece of software, which can either be installed on a mobile phone or added to most browsers as a plugin, essentially serves as a digital passport. Your digital wallet is unique and specific to you, and by connecting your digital wallet to an NFT gallery website, for example, you are proving your identity. Your digital wallet is your password and username for the blockchain. Your wallet not only identifies you, but it “stores” any NFTs or cryptocurrency you own.
Enough. I want to go ahead and make a wallet now.
There are many to choose from, but most of them work the same way. Metamask is one of the most commonly used wallets and is compatible with most NFT websites like Opensea, WazirX, Foundation, Rarible etc.
Install Metamask on your browser, and follow the instructions to set it up. You will create a password and you will be given an alphanumeric public key. That key is, in essence, your blockchain identity. Your digital wallet is the place where you will store all of your currency and your NFTs.
Go to https://metamask.io/ to sign up!
I would strongly suggest using Brave Browser or Chrome Browser.
Here is a 6 min video for you to smoothly create a metamask wallet:
Your wallet will have an alphanumeric code at the top - this public key is your wallet address, and it is unique to you. It’s a bit like a bank account or IBAN number. When acquiring an NFT from an auction or gallery site, your digital wallet will communicate that number directly. However, you can also send that number to anyone else with a digital wallet to transfer or trade cryptocurrencies or NFTs. Like an IBAN, it is not a secret number - nobody can use it unless you allow them to!
Note: If you forget your password or lose your secret recovery phrase, the contents of your digital wallet can never be retrieved. So it is worth writing down your password on paper and keeping it somewhere safe for reference.
Congratulations, you are now on the blockchain.
And here is the form to get your token of appreciation, see what I did there :)
Just put in your metamask wallet address in the form.
I will be transferring the NFT in your wallet in a weeks time. You now own an NFTs from my collection and the bragging rights too! Go ahead… :)
To view the NFT you will have to go to Opensea.io and click on connect wallet on the top right. You must see the token on your profile now. The NFT will on a network called polygon and would not require you to pay anything.
Should look something like this. If you can't see it, just cross ethereal tag on the top.
But I want to buy more NFTs and maybe also put up my own art as NFTs or just resell the NFT you just got as a gift.
In order to do that you would need some cryptocurrency to buy an NFT or for Minting Gas fees to put up your NFT on the blockchain. Most NFTs are created on blockchains that use a cryptocurrency like Ether, Polygon, Matic, BNB(Binance token), WRX(Wazirx). So you will need to buy some. Think of it like exchanging currency – exchanging currency you have (Rupees, Dollars, Euros, Dirhams, etc.) for a currency you need (Ether).
There are a number of trustworthy and well- regulated cryptocurrency exchanges. In most cases, you will create an account on an exchange, link a bank account or credit card, and confirm your identity.
I would suggest going with Binance - you can use multiple payment methods here including UPI. Please do your own research on the risks involved and the gas fees involved with different Cryptocurrencies.
Here is a video that would help:
It is a complete new world of art and there is a lot of FOMO involved as well.
Just stay in for a while and you will get a hang of it to know if this is a train you would like to stay on. If not get off whenever you’d like.
Thank you for being here and supporting me by collecting my artwork as your first NFT. Below are links to some references, marketplaces and links to my NFT collections.