NFT stands for “Non-Fungible Token” or best explained as unique digital assets. An NFT is a digital certificate representing a one-of-a-kind asset. Any type of media can be minted into an NFT: art, trading cards, memes, gifs, video clips, audio clips, tweets, etc. Once minted, these assets can be bought, sold and traded using crypto-currency.
Most NFTs are part of the Ethereum blockchain. A blockchain is an official ledger shared by thousands of computers and in this case storing a record of NFT ownership and transaction history. The blockchain confirms your ownership of the original and authentic NFT.
We Recommend using a MetaMask Wallet. It’s a Ethereum Wallet available for both Web & Mobile. You need to be set up a week advance to make an NFT purchase.
Private Keys / Seed Phrases
- Just like Passwords or PIN Numbers: Do-Not Share or store them in online notebooks unencrypted, or type into any website.
- Whoever has your Private Keys or Seed Phrases, has access to your crypto assets
- These are Fees, that fluctuate, and are applied on every transaction.
- When you put money into your MetaMask Wallet, that’s a transaction, same as when you make a purchase.
- Whatever you plan to purchase, make sure you put enough to cover Gas Prices.
HOW TO SET UP A METAMASK WALLET ON MOBILE
MetaMask also offers a mobile wallet option for both ios and Android. Here are the steps to use MetaMask on your phone if you’ve already set up the desktop extension:
- Download the MetaMask app to your smartphone (App Store for iPhone or Google Play Store for Android).
- Click “Get Started”
- Click “Sync with MetaMask extension”
- If you do not have the desktop extension, click “Create a new wallet” instead of “Sync with MetaMask extension.”
- Open your MetaMask desktop extension, go to Settings > Advanced, Click on “Sync with Mobile” and enter your password.
- Using your phone’s camera, scan the QR code to start syncing.
HOW TO SET UP A METAMASK WALLET ON DESKTOP
Here is how to create a MetaMask desktop wallet via a Chrome extension. You can also use other browsers such as Firefox and Brave. Whatever you choose, it is very important that you only download from the official MetaMask site.
- Go to MetaMask.io
- Click either of the “Download” buttons on the homepage.
- Click “Install MetaMask for Chrome.” You will be automatically taken to the Google Chrome web store.
- Click “Add to Chrome” and add the extension. Once installed, you will be able to view the MetaMask fox head icon in the top right corner of your browser by clicking on the puzzle piece icon.
- Click “Get Started” and choose between importing an existing wallet or setting up a new one. Let’s assume you don’t have an existing wallet and need to create one. Click “Create a Wallet.”
- Once you’ve created your wallet, you will be able to view your seed phrase (the 12 word sequence used to recover and backup your wallet). Remember, this must be hidden and never shared with anyone. Do not take a picture or screenshot of your seed phrase — instead, write it down immediately on a piece of paper and put it in a secret, safe location. Even better, write your seed phrase down on 2-3 pieces of paper and store each paper in a separate secure location (like one in a personal safe and one in a bank safety deposit box). Alternatively, you can download the seed phrase and keep it offline on an encrypted hard drive. Having multiple backups of your seed phrase is good practice just in case one copy is ever lost or destroyed. After documenting your seed phrase, click “Next.”
- Confirm your seed phrase by clicking on the correct words in the correct order of your 12 word sequence and click “Confirm.”
- Click “All Done.”
- Optional – you can leave your new account as “account 1” or choose to rename it.