1. What is an NFT?
A digital asset; NFT stands for non-fungible token. Where the token (NFT) is a unique digital file which could be a piece of artwork, images, photos, videos, audio, etc. NFTs are NOT cryptocurrencies, such as Bitcoin. NFTs are “minted” which means they are created by taking the unique image and turning it into the token by assigning it a unique ID and storing that ID in a secure ledger.
2. Why do you want to own an NFT?
For the same reason you want to own a piece of art; some own it for enjoyment, some for investment, some because it’s unique, some for exclusivity, some for status, some for sentiment, some to be a part of a limited group, some because they can identify with it, etc.
3. If an NFT is digital what makes it secure and how can you ensure you own it?
An NFT is something that is unique and stored digitally. The ownership of the NFT is stored on a type of ledger. Think of a unique piece of artwork (say The Mona Lisa) there is only one and the ownership is tracked not only by who has custody of the painting but also recorded on the museum's ledger in their office. Likewise, an artist may produce say 10 or 100 prints of their work each with a unique number. An NFT is the same way. You are purchasing a unique one-of-a-kind or limited-edition piece of art that is tracked in a ledger. There are multiple copies of the same ledger all across the internet (called a blockchain) that ensure no one changes the ownership without the current owner’s permission. Only a record of who owns the NFT is stored in the ledger, not the NFT itself. That way everyone knows who owns the artwork (NFT) and the ledgers validate the ownership.
4. Where do I keep my NFT?
Owners store the actual NFTs in a digital wallet so only they, or someone they allow, have access or use of their NFT. Wallets are secure because only the owners have access and they are secured via a recovery phrase that only you have access to. Additionally, each NFT has a unique ID that is stored in the owner’s wallet. Wallets are typically free to create and store your NFTs and which wallet you choose is based upon where you buy the NFT. For example, if your NFT was created (minted) and stored on the Solana blockchain (ledger) then you would store your NFT in a wallet called compatible with Solana such as Phantom. Phantom is a free wallet that stores and tracks your NFT.
5. What can I do with an NFT?
You can store it for your personal viewing, display it in an online forum (museum), use it in some games that are NFT based, use it as your personal online identity image, store it as an investment, sell it, etc. It's yours!
6. How do I get an NFT?
To purchase a Land Pirate NFT you simply shop for the ones you like under NFT and add them to your cart. Once you are ready you can check out and pay for the NFTs. After checkout, you will receive an email with instructions on how to set up a free wallet to store your NFT. Once you set up a wallet or if you already have a wallet, you will be instructed on where to send your wallet address. Once we receive your wallet address, we will deposit your purchased NFTs into your wallet and that’s it you will be the proud owner of exclusive Land Pirate NFTs.
7. What is a Crypto Wallet?
To better understand the concept of all the different types of Crypto wallets, think about the physical wallet you carry in your pocket every day; now compare your pocket to the internet, and your physical wallet to your crypto wallet. It’s a a virtual wallet that holds your virtual currency and digital assets. Different wallets are utilized by different crypto currencies. We chose to mint our NFTs on the Solana Blockchain and we suggest using the Phantom Wallet, but there are alternatives such as the Sollet Wallet and the Solfare Wallet. If you do not already have a crypto wallet it is super easy to get one.
8. How do I set up my Phantom Wallet to receive my NFT?
Phantom Wallet Instructions: Go to Phantom.app (website) and download the browser extension so you can access your wallet easily. Once the extensions is downloaded to your browser follow the simple steps provided by Phantom. You will provide your email and a password and they will supply you with a recovery phrase. The recovery phrase is the key to your wallet so do not share with anyone and make sure you keep it in a safe place. See an example video of how to setup a wallet by clicking here
Now that you have your wallet setup, you are ready to receive your NFT(s). We currently hold the assets in our Land Pirate wallet so we will send your purchases to your wallet, but first we need your wallet address. After you purchase an NFT you will receive an email from us providing you with these directions, but most importantly after receiving the email fill out the form so we can obtain your wallet address and just like that you will be a proud owner of a Land Pirate Origins NFT.
9. Can I return my NFT?
No. Once you purchase the digital asset, it is yours to keep! You are free to re sell it on a Solana Blockchain marketplace such as Solsea.io , MagicEden.io , or Solanart.io