ONLINESUCCESSME

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Newby to NFT guide

Our collection in the Opensea.io marketplace
Our collection in the Opensea.io marketplace

How you will have full ownership of your NFT.

The OpenSea Marketplace has thousands of NFT collections and where some collections have up to 10 000 NFTs per collection. NFTs with utilities will be the future of everything we know.

Collections may have listed NFTs, which are minted or priced already and those not minted yet. Ones not minted or listed can be liked and offers can be made to the collection owners to buy them.

Our future mining town NFTs
Our future mining town NFTs

Utilities of NFTs

Ownership of our NFTs mean you have full ownership "title rights" to the NFT. Ownership is written as per blockchain transaction in a transfer via sales or giveaways. Your NFT crypto wallet will reflect the NFT in your wallet as it also reflects any crypto owned by you in the same way. Metamask and Coinbase wallets are most commonly used NFT wallets. Not every crypto wallet has the functionality to host NFTs!

Why would I want an NFT?

Like gamers buying different skins for their selected player, these skins are utilities and are a type NFT. NFTs will take on many utilities such as club membership and dividends from profits of the entire collection etc. The scarcity level of specific NFTs within collections will make them worth a lot as our NFT collectors and community grows. Understanding the utilities offered in Own a mine, will make our collection of NFTs limited. The scarcity will drive prices up from having more demand than supply.

The secure exchange process

An exchange wallet exchanges FIAT currency such as ZAR or USD transferred into the wallet and exchanged for crypto currencies. This is what an exchange wallet do, to exchange money from your bank to the crypto currencies.

Most NFTs are on the Ethereum blockchain network, but other networks like Matic (Polygon) also has the same functionality as it was created from the ETH blockchain technology. ETH has very high gas fees (similar to bank fees) when transactions are conducted such as buying selling and transferring of ETH. When an NFT is bought on ETH, gas fees for a $70 NFT can be $120 in gas charges, making the total cost for the NFT $190. Hence we chose the Polygon network which doesn't charge for transactions, making our NFTs more affordable and real to the actual prices.

Once an NFT is purchased from your NFT wallet having Polygon/ETH coins in it, the crypto is deducted from your wallet and exchanged with the NFT landing in your wallet. No intermediate handling of the transaction is possible when buying on OpenSea, the largest NFT marketplace.

Johan Bezuidenhout