NFTs, blockchain, web3, metaverse and monkey jpegs. The brave new world is upon us. Yet many questions remain. Here are a few answers to questions and concerns you might have. And please get in touch, should you have more.
A non fungible token (NFT) is a unique digital asset. Most often it represents collectibles like music, game items and in our case – digital art. Each NFT is unique, thanks to its metadata, which can't be altered or deleted. Holding an NFT proves ownership of the digital item it is associated with.
NFTs have many applications, but one of the biggest is being able to verify ownership of unique digital assets. For the first time, digital items can now be scarce and therefore hold value. This is a revolutionary development, especially for digital artists, who are now able to, for the first time ever, sell unique or limited pieces of digital artworks.
At the moment, several steps are still needed in order to buy an NFT.
1. If you haven't already, set up an account with a crypto platform and buy some ETH. We suggest Coinbase, the service we're using for our crypto assets.
2. Set up an Ethereum crypto wallet. The most popular is MetaMask. Transfer the ETH from your Coinbase account to MetaMask.
3. Go to the NFT platform of your choice (OpenSea, Rarible, etc.) and login with your MetaMask wallet.
4. Buy an NFT.
For a more in-depth look, check out the comprehensive How-to by OpenSea.
When you purchase a REJELL NFT, you own the NFT and the underlying art. The ownership is transferred to you on the Ethereum blockchain for the individual piece of art. Each REJELL NFT is marked with a unique number, certifying your ownership of the digital asset it is associated with.
The overall market gets a bad reputation from a few bad actors. In general, buying NFTs is safe. But, as with the rest of the internet, we advise to only buy your NFTs from official marketplaces. Please also be aware that there a fake websites and social media profiles that want to trick you into connecting with them. Also be aware of impersonations. We will never contact you directly to buy an NFT, or offer you any deals.
As the owner of a REJELL NFT, you can freely use the underlying asset as you please. This includes being able to use, copy, sell and display the purchased art, along with any derivative artwork or extensions that you create or use unless otherwise stated on the respective project page.
Running a blockchain requires energy. Some blockchains such as Bitcoin use a tremendous amount. We have thought long and hard about the energy consumption of all relevant blockchains and have decided to go with Ethereum.
Why? It is both the biggest NFT ecosystem, meaning we'll be able to reach more people. And, after switching to a Proof-of-Stake mechanism, the network has reduced its energy consumption by 99,5 %. For comparison, Netflix uses 36.000 x more energy than the entire Ethereum network. That's not too shabby, or? For more information, visit the Ethereum website.
50 % of the income of our NFT collections go directly to the corresponding organization. The remaining 50 % is used to pay the artist and team fairly, to cover our costs and to invest into the development of upcoming projects.
We’re happy that you’re interested in being a part of what we’re building. Simply go to our contact page and get in touch!
Open an account on a crypto exchange. The most popular are Coinbase, Binance and FTX, which is the one we use.
To interact with web3 apps and to buy NFTs, a wallet is needed. Each blockchain has their own wallets. We are on the most sustainable blockchain – Solana. The most popular wallet for Solana its Phantom.
To load up your wallet, send crypto from the exchange (FTX, Coinbase, etc.) to the receiver address of your wallet. Check the address and strictly verify that your wallet is compatible with the crypto.
After a few moments the funds appear in your wallet. Then you can go to one of the NFT marketplaces. Our NFTs can be bought on OpenSea, Magic Eden and Solanart. After purchase, the NFT will be in your wallet and yours to enjoy!