About NFTs

Splash page for beginners. The BowTied collective is dedicated to educated all those in the space. If you've never heard of an NFT before, or don't know where to begin—this is the page for you. Feel free to get in touch with us via email or socials for more specific inquiries. 

Non-Fungible Tokens

An NFT is a "non fungible token." More of less, fungible means that it's unique and cannot be replaced with something else. At a very high level, an NFT is art on a blockchain (such as Etherium, Solana, STX etc.) These chains allow for transaction hashes that can store information and embed data that in fact makes each NFT unique. In this same view, anything digital can be an NFT. Think of an NFT collection as a "digital louvre." You cannot "right click save" any piece uploaded to the Metaverse because not all JPEGs have data which ties them to a verified collection. Anyone can buy a Monet print. Only one person can own the original. To boot, NFTs also have embedded communities build up around the tokens. Communal activies depend on the project 

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Where to buy NFTs?

In order to enter into the Crypto World, you need to first get off of the central cryptocurrency exchanges. Full custodianship of your assets is the aim. Soon enough, conglomerates such as Coinbase will have crypto wallets so that you can access an NFT market directly. However, the goal is to have maximum "custodianship" of your assets. Meaning, you don't want any outside actor to take your art for any reason. 

 

Central cryptocurrency exchanges include platforms such as: Coinbase, FTX, Binance, Kraken. There are several on-chain routes that you can go. We primarily operate on the Etherium (ETH) chain. Although we do speculate on STX and Solana chains, we'll start with Etherium.

 

 

Setting up Metamask

Metamask https://metamask.io/, in sum, will be your store of assets

 

Metamask is a hot wallet. An online extension that will allow you to send your Etherium (and other assets) in order to make purchases on Opensea https://opensea.io/ which is currently the largest online NFT marketplace.

Your Metamask, once set up, will spit out a wallet address in which you can transfer funds to. Once you have the associated asset (such as Etherium) you will be able to transact and transfer NFTs (and other cryptocurency assets) to your Metamask. 

https://metamask.io/faqs

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