NF What?!
This is for you.
What the heck are NFT’s?
Everybody seems to be talking about NFT’s, but what is it in simple words?
Well, it is a bit technical but I will try to give you the basic idea. So I’m sure you’ve heard of Bitcoin. Bitcoin, and all of the other cryptocurrencies, use blockchain technology, which is basically when data blocks are linked with each other.
It is also decentralized, which means that nobody owns it; or better, everybody owns it because everybody has a copy of it.
Ok… and now what?
So now, the second-largest cryptocurrency, Ethereum, uses a system called smart contracts, where you can put any file on the blockchain and it will have a digital fingerprint/contract that proves current ownership. You can upload a gif, jpeg, png, mp3, and mp4 and save it as an NFT.
NFT stands for Non-Fungible Token.
But can’t I screenshot an NFT?
Yes, you can, but what drives the NFT’s is mostly the community or the story behind it, not the actual image. Digital artwork is easy to copy, but the fact to be able to prove the ownership in an instant (as the blockchain is like a transparent ledger) is what makes this a hyped project. Just like in real life, people pay absurd prices for art. It’s like, for example, owning Mona Lisa and having a perfectly drawn copy. It’s not the same.
Recap: NFT’s are images/files that can be bought with crypto. Ownership can be easily proven and some NFT communities (like Fred) give you limited access to things, like access to private parties, merch and many more things.
How do I buy a Fred?
Buying NFT’s isn’t that hard. Just follow these steps:
1) So primarily, you need to buy Ethereum.
How?
Create an account on platforms like Coinbase, Binance, Gemini, etc.
Wire money from your bank account/Paypal/Credit Card…
Voilà, you can buy Ethereum
Important: Do before a launch! It takes up to a week for the money to arrive.
2) Go to OpenSea and connect with your wallet.
Important: If you used Coinbase, you can connect your wallet just like that, but if you used any other platform, you have to create another wallet and transfer the money. A popular one is MetaMask.
3) Buy any Fred you want. You can browse our Gallery or find us on OpenSea. You can own art as a collector’s piece or as an opportunity to make money.