Signing up to an NFT marketplace can differ slightly from site to site, but the main steps to follow involve creating an account or connecting a supported digital wallet, or doing both. The button for this is typically located in the top right-hand corner of the NFT marketplace homepage. When connecting your wallet, you will be asked to enter your wallet password to complete the process.
NFTs are usually purchased directly for a fixed price or through an auction. In some cases, prospective buyers can submit offers to the owner and attempt to negotiate a better price.
Selling unique digital…
NFT marketplaces are platforms where NFTs can be stored, displayed, traded and in some cases minted (created). These marketplaces are to NFTs what Amazon or eBay are to goods.
In order to access and use these types of marketplaces, you will need to have the following:
Digital wallets are generally considered to be a safer option than cryptocurrency exchanges. While one can safely store small amounts of cryptos on exchanges to carry out regular transactions, it is always advisable to use a wallet to store the remaining holdings.
Interestingly, crypto tokens themselves are not stored in the wallet. Instead, a wallet is a software program which keeps your private and public keys safe. What does this mean? Well, a private key is a secure digital code that only you should know and a public key is a public digital code linked to a certain amount of…
The virtual asset that is equal to the value of the cryptocurrency in the blockchain network at a ratio of 1:1 and can work in different blockchain networks is called a Wrapped Token.
Wrapped tokens are developed so that the cryptocurrency can be transacted outside of the original blockchain network to which it belongs.
The Wrapped token is indexed to the value of the original asset and can be traded for the value of the original currency at the time of trade. They are similar in structure to stablecoins, which derive their value from fiat currencies.
While the stablecoin gets…
An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:
• Videos and sports highlights
• Virtual avatars and video game skins
• Designer sneakers
Even tweets count. Twitter co-founder Jack Dorsey sold his first ever tweet as an NFT for more than $2.9 million.
Essentially, NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead.
They also get exclusive ownership rights. That’s right: NFTs can have…
Dapps are decentralized apps. They are like normal apps, and offer similar functions, but the key difference is they are run on a peer-to-peer network, such as a blockchain.
That means no one person or entity has control of the network. There are other key features, such as:
🖧 It must be open-source and operate on its own without anyone entity controlling it.
🔍 Its data and records must be public.
🟡 It must use a cryptographic token to help keep the network secure.
While these are beliefs many in the blockchain and crypto community think should be upheld, as…
Ethereum gas fee prices are at their highest for over three months, averaging 121.23 Gwei on August 27 (via Etherscan).
The average transaction fee also spiked, reaching $38.306 on the same day (via BitInfoCharts) — the highest since May 19.
This rise comes after the London hard fork implemented EIP-1559, which was expected to lead to more predictable gas prices
Ethereum Gas Fees Reach Three-Month High
One of the major drivers of this gas price increase comes from the revived interest in NFTs. OpenSea is responsible for 21.76% of gas consumption in the last 24 hours, totalling fees of $6.07m…
To help the user to evaluate all aspects in defining a token model.
Where we identify the major problems that the token solves or the major opportunities it builds.
We then identify the existing alternatives (Existing Alternatives) and for what reasons their use in the Business Model is not applicable.
We then move on to the Economic Model and describe what are the main functions that the economy of the token provides.
Let ask ourselves why a blockchain is needed for the development of this specific model and what are the advantages it introduces.
We are now going to identify…
Token Legal Review
The first thing to check in the legal review is the type of token. A token can be classified as (crypto) currency, utility or security or a combination of these.
· Currency: they are the most well-known and widespread tokens, the main example being Bitcoins, they carry an intrinsic value that is established by the market.
· Utility: these are tokens that enable owners to use the services provided by a (semi) decentralized platform. …
We would like to guide you for your token projects that you will list within the BTCBAM DEX platform. In this series of articles, we will try to convey to you the points that need attention for a token project.
What is a Token Standart?
A Token Standart describes the properties of a token, the nature of the users and services that interact with that token and the economic characteristics of such interactions, in fact represents an entire economic and technological ecosystem. …