NFT Beginners GUide

 Are you new to NFTs? Don’t have any idea how to buy one? What is minting? What is an allowlist?

MADworld explains the how-to for everything NFT! {This is a content from MADworld SOURCE}

What is an NFT?

NFT stands for a non-fungible token, which means that hidden in these quirky pieces of art and digital items, there is a totally unique and non-interchangeable unit of data stored on a digital ledger that uses blockchain technology to establish proof of ownership. NFTs are collectible digital assets that hold value, just like how physical art holds value, so do NFTs.

Please note: For any NFT project, it is very important to Do Your Own Research (DYOR) to ensure you understand the process and relevant platforms and mechanisms.

What is an Allowlist?

An allow is essentially a method of pre-registering for an NFT drop to gain access to purchasing. Many allowlists will require specific information, sometimes requiring your social handles and most importantly your wallet ID/ address (most commonly, and ERC 20 address).

What does minting mean?

Minting an NFT is how your digital art becomes a part of the blockchain — a public ledger that is unchangeable and tamper-proof. Similar to how a real-life coin is minted, it is the process of the token is put into circulation. It is the building block to how your token gets digitally tracked as it is resold and collected in the future.

What is the process of participating in the allowlist for MADworld’s MADmind NFT project?

1. Enter the required information via the Gleam campaign
2. Your information is then used to officially register for the chance at minting an NFT
3. The allow list campaign will close
4. Registered participants will be notified of the specific minting period
5. Participants will then need to log on to madminds.madworld.io and ensure that their ERC-20 compatible wallets are connected using the ‘Connect Wallet’ button
6. Registered participants will then be able to mint and purchase their MADmind
7. The MADmind will then be dropped into your ERC-20 compatible wallet

How to purchase a MADmind NFT?

Simple, just follow these steps, (please ensure you have DYOR):

1. An ERC-20 compatible wallet (E.g. MetaMask or Wallet Connect)
2. Hold ETH (Ethereum native token): Allow extra holdings for gas fee
3. Connect your wallet within the madminds.madworld.io site
4. Click on the ‘mint now’ button
5. Review the Gas Fee before clicking confirm
6. Your collection will be able to view in your ERC-20 wallet

What is a Gas Fee?

Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the relevant chain that the NFT is located on. For MADworld’s MADminds, ETH will be the token utilized. Therefore ETH will be required for purchasing and gas fees.

How to Create an Ethereum Address on MetaMask

• Visit https://metamask.io/ and locate the extension that is compatible with your browser.
• Click and install the appropriate extension.
• Once downloaded and installed, click on the extension icon and follow the prompts to create and confirm your password.
• Next, accept the term of use and give the extension the go-ahead to reveal your seed phrase. It is advisable to store multiple copies of these secret words in secure locations. Once you have backed up your seed phrase, the account registration process is complete.
• To view your ETH or ERC-20 address, navigate and select the Deposit Ether Directly tab. Then click on View Account to see and copy your address. You can now paste the Ethereum address on airdrop portals requesting an ERC-20 address to receive free tokens.

How to View ERC-20 Tokens on Metamask

So now that you have received airdropped ERC-20 tokens, how do you view them? This is quite straightforward as well if you follow the following instructions.

• If you cannot find the token when you click the Assets tab, then you might need to add the token manually.
• Click the Add Token tab and select Custom Token to expand the search.
• You are required to enter the token address in the appropriate field. More often than not, the Token Symbol and the Decimal fields autofill. If not, then you might need to find the token project’s documentation to access the details. You can search for the token contract address on Ethereum blockchain explorers like Etherscan or Ethplorer. Better still, you may request the token address directly from the sender. Be wary of airdrops that do not reveal token contract addresses.
• Once you have filled all the fields, click Next and select Add Token to confirm.

How to Receive and View NFT Tokens on Metamask

Due to the explosion of airdrops for ERC-721 standard tokens or what is commonly called non-fungible tokens (NFTs), we have decided to detail some of the processes involved in receiving and seeing them in your wallet.

First, you need to access your Ethereum wallet address. Once the transaction is confirmed, it is recommended to view the NFT on the mobile app version of MetaMask since collectibles are not visible on the web version for now.

If the NFT is not visible in the collectible section, then click Add Collectibles and enter the collectible ID and Ethereum address in the appropriate field. Once this is done, the NFT should appear under the Collectible tab.

About MADworld — the Multiverse Artist Defender (MAD)

MADworld offers an NFT Origination Platform and NFT Marketplace which use blockchain technology to defend the artists, artwork, creators, and content that enter the untraversed multiverse. MADworld supports NFT minting to validate ownership and provenance of physical art, collectibles, and products and original content developed from live concerts, sporting events, artist battles, and other modes of creative expression. MADworld is designed to give creators complete control over their NFT strategy, supporting them by maximizing the income and impact from their intellectual property in perpetuity. For more information and updates about MADworld, 

visit:

WEBSITES | TWITTER | DISCORD