NFT FAQ

December 8, 2021

Q: What about the environmental impact?

A: Ok, so if you are asking this question you already know the answers to everything above. Sneaky you. All NFTs in this collection are minted on the Polygon chain, which is a Proof of Stake blockchain in which transactions do not require the excessive computing power of Bitcoin or Ethereum transactions. As such the environmental impact is completely negligible. 

Q: What is a NFT?
A: The big question of 2021. Just in case you wake up from a coma, the PR approved answer is that NFTs are tokens giving the owner exclusive ownership rights to a piece of data. People falsely assume NFTs are jpegs anyone can right click + save as on the internet, but in reality NFTs are a piece of code that cannot be altered or falsified proving your ownership of a thing, just like a piece of paper approved by some legal priest proves your car is indeed yours, only infinitely more transparent and secure.

Q: How do NFTs work?

A: Generally speaking each NFT consists of 2 main components - smart contract and a digital good (could be a collectible, an artwork, or even tickets to a physical event). The smart contract exists on blockchains - digital databases that underpin cryptocurrencies such as Bitcoin and Ethereum. The smart contract attributes ownership and defines the properties of a media file stored on a decentralized database such as IPFS (in an ideal world, although some media is also stored on private servers). 

Here’s a hypothetical scenario showcasing why NFTs are so awesome. If you want to buy an original artwork by Andy Warhol, you would need to go to a gallery and trust the word of a reputable expert that this is indeed an authentic piece of art. NFTs on the other hand present an objective and unfalsifiable way to confirm authenticity and origin. But wait, anyone can right click and save as my jpg! So? You can also buy a poster of Andy Warhol’s Shot Marilyns in a bookstore for 5 bucks or print out a jpg from google - it doesn’t make it the real thing. 

Q: What is a blockchain and which do you use?

A: A blockchain is a distributed public ledger that is a record of who owns what. The technology underpins digital currencies and NFTs. Blockchains allow digital information to be distributed but not altered, copied or deleted from a network made up of thousands of computers. Wow. 

Q: Can I resell the NFTs on another platform?

A: Sure, any marketplace supporting the Polygon chain would do.

Q: What is Moonpay?

Moonpay is a payment provider allowing you to purchase crypto currency fast and securely using your debit / credit cards. Since NFTs are sold for crypto currency and not old fashion money, you can’t simply enter your credit card at the check-out like in a regular online store. Moonpay is a service integrated directly into OpenSea and as such is the fastest and easiest way to purchase crypto currency to spend on the NFTs you want.


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