NFT Beginner’s Complete Guide ver 1.0

NFT Beginner’s Complete Guide ver 1.0

0. What is Blockchain?

Wikipedia ‘Blockchain’

A form of distributed data storage technology. An algorithm that stores multiple transaction records in a ‘block’, connects them in a chain form using hashes, and then copies and distributes storage by numerous computers. Bitcoin was developed in 2008 by Satoshi Nakamoto. After that, various coins that secured and improved Bitcoin began to be born.

1. What is NFT?

Wikipedia ‘NFT’

As a non-fungible token, it is impossible for one token to replace another token. The non-fungible token ERC-721 was implemented on the Ethereum network. Conversely, ERC-20 is a replaceable token. (ERC = Ethereum Reqeust for commenct, Ethereum standard)

 

a. Types of NFT Coins

Difference between coin and token : You just need to check whether an independent network (platform) is built. Coins when their own flampot is built, tokens developed for use in DAPP using the built platform Ex) ERC-721 (NFT token) created in Ethereum (coin)

The following coins have NFT tokens.

Ethereum : A distributed computing platform for implementing smart contract functions. Leading altcoins. Unit is ETH

Solana : The world’s first web-scale decentralized network with support for 50,000 transactions per second (TPS: transaction processing speed per second) and an incredible processing speed. Unit is SOL

Cardano : A blockchain platform used to send and receive digital currency. A technology platform that can run the financial applications commonly used by individuals and organizations around the world. The difference exists in that centralization is also possible in smart contracts. Unit is ADA

Klaytn : A service-type enterprise blockchain platform developed by Ground X, a subsidiary of Kakao. The block creation time is 1 second, which lowers the waiting time and considers wide scalability as a strength. The unit is Klay.

2. What is a wallet?

A software wallet used for trading on NFT exchanges. You can send and receive NFTs through the public wallet address or send and receive coins on the same network.

a. Create a wallet

Metamask – Ethereum

            It is a cryptocurrency wallet that can hold, send, and manage Ethereum. Install the Chrome extension in your Chrome web browser.

1) Installation method:  https://NFtz.Co.in/tip/4

 

Kaikas – Clayton

It is a cryptocurrency wallet that manages Klaytn-based digital assets. Installation method same as above

 

Phantom – Solana

A wallet that allows access to distributed applications deployed on the Solana blockchain. Installation method same as above

 

3. What is an exchange?

A market where cryptocurrency trading is possible. It is also called a cryptocurrency asset trading platform and there are many domestic and foreign cryptocurrency exchanges.

a. type of exchange

1) Cryptocurrency Exchange: Same as above

2) NFT Exchange: An exchange that specializes in NFT only

b. Select the desired NFT on the exchange

1) NFT Exchange List:  https://NFtz.Co.in/website/2 

2) Check the cryptocurrency suitable for the NFT

c. Buy the coin on a domestic cryptocurrency exchange

1) How to purchase KRW with the corresponding coin at the cryptocurrency exchange 

Ex) Buy 0.1 bit at KRW 5,950,000 – Based on the September 7th exchange) 

2) Transfer coins to your personal wallet

Coins purchased from a cryptocurrency exchange must be moved to a personal wallet.

How-to link:  (Upbit standard documentation)

d. Connect your personal wallet on the NFT exchange

1) Opensea 

– When connecting a wallet with metamask

Opensea access

Click on the person in the upper right corner

Sign in after selecting Metamask

Link to your wallet

Click on Wallet in the upper right corner

Check the Ethereum you have in your wallet

– When connecting a wallet with Kaikas

Opensea access

Click on the person in the upper right corner

> Choose Use a different wallet

Sign in after selecting Kaikas

Link to your wallet

Click on Wallet in the upper right corner

Check the clay you have in your wallet

e. buy

1) Click the NFT to purchase

2) Make offer / If Buy is possible, do not wait for seller confirmation

Choose the coin you want

Fee selection

Confirm offer

signature request signature

purchase price + gas cost

check your wallet

4. Tour the NFT Project

a. Background on understanding/structure of the project

CryptoPunks Understanding CryptoPunks : The ERC-721 symbol itself as a digital collectible that can be traded with NFTs within the Ethereum network. 10,000 characters with 8-bit dot profile. 

Structure of an NFT project : As in the case of cryptopunk, they form their own group and express their own desires, while at the same time making other new entrants feel that the NFT is valuable, thereby forming a culture. For this reason, it is bound to be closed in structure, and it becomes the cultural aggregate of SNS.

Participate in the project’s social media

Twitter:

If you are a person who does NFT, Twitter is essential. If the project does not have an official Twitter account, it can be said that the project is in its infancy or that the planner does not know the trend at all. The success of a project can be seen by looking at the number of Twitter followers. Most criteria prefer 10,000 or more

Discord:

Feeling cramped on Twitter, the closedness of the project and the fandom are formed through voice discussions and Discord with various functions. Because there is a whitelist, certain conditions (3 new Discord channel members inflow) are applied to link minting or free airdrop events. Likewise, prefer 10,000 or more disco members

​Telegram:

If Twitter / Discord is well organized as the main, it feels like Telegram is pushed to 3rd place. But most of them do. Even if you join the channel, stop even if you don’t stop

5. How to find information

a. Access the https://NFtz.Co.in  website 

b. Twitter:

1) Using the hashtag search function: You can use search terms to find teams working on NFT projects and discover events.

2) Search term: NFT + airdrop / mint / artist / project / giveway

TTBR

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