How it works

A digital wallet is a software application or hardware device that allows you to store, manage, and transfer digital assets such as cryptocurrencies (e.g., Bitcoin, Ethereum) and NFTs (Non-Fungible Tokens). It stores the private keys that are necessary to access your digital assets and perform transactions on the blockchain. Why do you need a wallet? Storing NFTs and Cryptocurrencies: A wallet is essential for storing your NFTs securely. Buying and Selling NFTs: You need a wallet to purchase NFTs from marketplaces like OpenSea or Rarible and to list your own NFTs for sale. Security: Wallets ensure that only you can access your NFTs and cryptocurrency through private keys, which are like passwords for your assets. Common NFT wallets include MetaMask, Trust Wallet, and Coinbase Wallet.

The cost to create or "mint" an NFT depends on several factors, including the blockchain you are using and the associated transaction fees (called "gas fees"). Gas Fees: On Ethereum, for example, gas fees can range from a few dollars to over $100 depending on network congestion. Minting Fees: Some platforms like OpenSea offer "lazy minting" where you don’t pay gas fees until the NFT is sold. Other platforms, such as Rarible, have upfront fees. Marketplace Fees: Platforms often charge a commission on sales (typically 2.5% to 5%). In general, minting on Ethereum can cost anywhere from $10 to $100+ for a single NFT depending on the current gas prices. However, minting on other blockchains (like Polygon, Solana, or Tezos) may be cheaper or even free in some cases.

In theory, minting duplicate NFTs on the same platform is unlikely, as each NFT should have a unique identifier associated with it. However, it could happen if: You accidentally created two NFTs with the same metadata or file. The platform does not prevent duplicates during the minting process. To prevent duplicates: Ensure the metadata and content of your NFT are unique. Double-check the NFT details before confirming the minting process. If duplicates occur, you may be able to delete or delist the unwanted NFTs from the marketplace, depending on the platform’s features.

Yes, if your verification request on platforms like OpenSea or Rarible was rejected, you can typically reapply after some time. Here are a few reasons why verification might be rejected: You didn’t meet the platform's requirements (such as having a substantial following, active presence, etc.). Your application was incomplete or lacked enough details. To improve your chances of successful verification: Increase your online presence: Build a solid social media following and community engagement. Complete your profile: Ensure all information, including bio and links, is filled out. Wait a while: After a rejection, it’s a good idea to wait for a few weeks before applying again. Check the platform's guidelines for specific reapplication instructions.

Every NFT platform (e.g., OpenSea, Rarible, etc.) has its own set of community rules and guidelines, which often include: Respecting copyright: Do not mint or sell NFTs that infringe on others' intellectual property. Prohibited content: Many platforms prohibit the sale of explicit or illegal content. Behavior guidelines: Users should behave respectfully, avoid harassment, and maintain a positive community environment. It’s important to review the specific Terms of Service and Community Guidelines on the platform you are using. These guidelines will outline acceptable behavior, content, and the process for reporting violations.

As mentioned earlier, the cost of creating (minting) an NFT varies based on: Blockchain: Ethereum tends to have the highest fees due to gas costs, while blockchains like Polygon, Solana, or Tezos are often cheaper or have lower fees. Gas Fees: These are the transaction costs paid to miners or validators to process your NFT creation. On Ethereum, gas fees can fluctuate, typically ranging from $10 to $100+. Platform Fees: Most NFT marketplaces take a commission (around 2.5% to 5%) on each sale. Some marketplaces, such as OpenSea, may offer lazy minting, where you don’t pay the minting fee until the NFT is sold. Therefore, creating an NFT can cost anywhere from a few dollars to $100+, depending on the blockchain and platform used.