With the recent advent of Cryptocurrencies and NFTs, we’re seeing an influx in new users. But what exactly is a token? How do you get one? And how can it be used to play games with other players around the world without using any real cash or credit cards at all?

The “podcasts about nfts” are a great way to get your first contact with NFTs and Crypto.

First contact with NFTs and Crypto? We got you!

First-contact-with-NFTs-and-Crypto-We-got-you

This is an overview for individuals who are unfamiliar with the Blockchain movement and why it makes sense to adopt it.

Good day there,

My name is Maria, and you will notice that the format of this post differs from what you are accustomed to. Assume we’ve known each other for a long time, and I’m just demonstrating why Blockchain makes sense for your current project, company, or collective.

Let’s begin with the basics: what is Blockchain?

Personally, I think of it as a network of computers that all have the same information: the blocks that make up a blockchain. Every transaction that takes place on the blockchain is recorded and validated by the nodes. A node is a computer that holds information about the transactions on it. Furthermore, since the nodes verify the transactions, it is difficult to generate a fraudulent transaction on the blockchain because many other nodes are continually checking.

Validating computers are referred to as nodes.

The term “blockchain” refers to a series of blocks.

Blocks are the transactions on the chain; each one has a unique number, so you can’t make one up.

To hack or destroy a Blockchain, you must compromise 51 percent of all nodes in the network.

This is why Blockchain can guarantee its security. On the Blockchain, transactions are peer-to-peer. That implies I don’t have to travel to a centralized entity — such as a bank — to give you money; instead, I may pay it to you directly. The blockchain eliminates the need for intermediaries.

When talking about Blockchain there is one key-word that 80% of people seem to recognise: Bitcoin. Bitcoin is — attention — a coin. Wow, right? Fun to the side, this is important: Bitcoin, Ethereum & Near are tokens that can be sent around on the blockchain, and you can pay with these coins for transactions that happen on the blockchain. If I have 1 Near, and you have 1 Near, both of our tokens will have exactly the same value. Same thing with Euros — you feel me? The euro in my wallet is worth exactly the same as yours. These are fungible tokens, FTs, Coins, interchangeable identical copies that all have the same value. Bitcoin, Near, Ethereum, Solana, are all different crypto currencies — the same way euro, dollar and brazilian real are different fiat currencies.

Mintbase isn’t based on Bitcoin (it’s only a currency, after all, and you can’t really create applications or markets on it). Ethereum is the second most popular Blockchain. Ethereum was the first blockchain on which DAOs, applications, and other smart contracts could be built.

Because Ethereum transaction fees were (and still are) much too costly to make it viable, we rewrote the code for our protocol on NEAR. Mintbase’s history may be seen here.

NFTs

Why am I telling you this? I’m eager to move on to the next big thing in the crypto world: NFTs! If you’ve been looking into Mintbase, you’ve most likely come across this term. But what exactly are NFTs? Tokens that aren’t fungible. Remember the FTs (coins) mentioned earlier? The term “non-fungible” refers to the fact that each token might have a distinct value. NFTs may be images, movies, tickets, contracts, certifications, or anything else. This is a relatively new idea, and you’ve definitely heard stories of individuals becoming very wealthy by minting (making) their own NFTs — or by purchasing NFTs at a cheap price and then reselling them for a much greater price.

There is an immense hype taking place, people like Paris Hilton, Snoop Dog & Taylor swift getting into crypto & NFTs. As they already have big fanbases their NFTs sell very well.

What draws the artist community to NFTs?

As mentioned when talking about what Blockchain is, through the technology middlemen are removed. The fact that transactions take place between two wallets and nothing in between gives fans a new — transparent & decentralized — way to support their favorite artist. Then there are the royalties that can be implemented into the NFTs.

What are royalties, exactly?

Imagine you’re the director of photography for a music video. There are two vocalists, ten dancers, the person who created the rhythm, the person who mastered it into a high-quality sound file, and the person who penned the words for the song. Isn’t it true that we have 16 persons working on the song video? In the non-crypto world, everyone is paid after the task is completed, and then the artist is compensated for the number of views on YouTube or if the video is shown on television. All the other individuals involved aren’t earning anything now, even if that video becomes an iconic viral phenomenon; they’re not getting splits on future sales, are they?

On Mintbase, how does profit distribution work?

With NFTs with royalties, the wallets entered into the royalties get their % each time the NFT is re-sold for any given value. We have 10% of the entire value designated to royalties on Mintbase, and you may add up to 25 different wallets to it.

Mintbase allows you to split the revenue & the royalties of your NFT:

Total Value Equals 100 percent (TV)

Royalties account for 10% of that 100% TV. The royalties may include up to 25 wallets.

The income is 87,5 percent of that 100 percent TV. The value of a one-time sale. You may additionally add up to 25 wallets.

Mintbase owns 2.5 percent of the television.

In a fantasy universe, you and I are a musical duet who have written a song. We collaborated on the song and recorded it in our own studio. So it was just you and myself that wrote the whole song. We minted it as an NFT on mintbase and put it up in the following fashion instead of selling it to a movie or negotiating a contract with a record label.

You will get 50% of the royalties, and I will receive 50% of the royalties. The revenue is the same.

We must put our NFT for sale after minting (producing) it.

On Mintbase, how can we do that? You must first go to your owned NFTs, choose the one you wish to sell, set a price (in NEAR), and then decide whether to sell it as a simple sale or an auction.

Are you ready to get started? Let’s GET MINTING! Deploy your own smart contract using mintbase.io or request to be included to an open marketplace.

Do you have more questions? Comment below or join our telegram channels Mintbase & MintbaseDAO. MintbaseDAO will support you with some NEAR to get started if you have a project involving a collective or just a project which could bring more users to Mintbase!

The “new pangea metaverse” is a new type of virtual world that has been created by the Pangea Project. In this virtual world, NFTs are used to create a digital economy. This article will talk about how the project works and what it means for you.

Frequently Asked Questions

What are NFTs crypto?

A: NFTs are Non-Fungible Tokens, which means that the tokens themselves cannot be used in the same way as other coins.

Are NFTs a good investment?

A: They are a risky investment. When you invest in NFTs, what youre really doing is investing in the currency that backs them up. The value of these tokens can fluctuate greatly and as such, its very difficult to predict how your profits will be affected by changes like this.

How do you make money with NFTs?

A: There are multiple ways to make money with NFTs. On the most basic level, you can decide to hold your cards and sell when they become more valuable or feel like selling them for a profit. You will then receive any profits from liquidation at that point in time as an income stream of sorts. If you want steady cash flow though, buying low and flipping could be one method of getting there

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