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A Digital Pangea
Web 3. A Digital Pangea. Made up of many blockchain countries, but how does an intelligent being get there? Where does one start?
I am Bleace NFT and I am here to help answer those questions as simply as I can.
A Digital Pangea.
Made up of Blockchain Countries,
Ethereum, Tezos, Stellar, Polygon, Solana, Cardano, Cro, Bitcoin & many others.
But how to get there?
First, the Intelligent being much choose which Blockchain country they want to go to, want to visit either by buying an NFT or minting an NFT.
An NFT, What even is an NFT? Are you kidding me?
Goods in commerce fall in one of two categories, Fungible and Non-fungible.
Fungible goods are interchangeable. Commodities, No.2 Yellow Corn, stocks, options, dollar bills. Are all fungible goods that are identical items for practical purposes.
For example, it doesn’t matter where the No. 2 yellow corn was grown, as it’s still No. 2 yellow corn. One dollar bill is still one dollar, they can be interchanged. A stock is a stock it doesn’t matter who owned it before.
Non-fungible is not interchangeable. Diamonds, Land, Baseball cards, Digital Assets like NFTs. They have unique qualities that add or subtract value.
NFT stands for Non-Fungible Token. An NFT is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as a photograph, a scan of painting, an animation, a song, anything digital and as of now, anything under 100mb in size.
Ok, now that our Intelligent Being has a basic understanding of what an NFT is, they now want to take their NFT, to the blockchain, let’s say the Stellar Blockchain.
They would need to Set up a Wallet, like a Passport to continue this analogy.
For the Stellar Blockchain they would need to set up a wallet on Freighter.
You will be given a seed phrase, randomly generated words that are SACRED! For Americans, this is like your Social Security Number only more important cause you DO NOT SHARE IT WITH ANYONE! ABSOLUTELY NO ONE! Write this down and make sure no one can see it! Don’t save it online where someone can hack in and get it! Keep it SAFE! Most Important thing about your wallet is your seed phrase.
Your wallet address is like a banking routing number and account number found at the bottom of a check, it’s a paypal or Cashapp username that can be shared publicly as it is public information found on the blockchain.
Since it is public, other can send NFTs and other things to you. It is important to not interact with anything you don’t recognize, just leave it alone, the second you interact with it by signing off on it with your wallet, you are allowing that smart contract into your wallet, you don’t know what is written in that smart contract, it could wipe everything you own, steal everything. This happens all the time, one lapse in judgement and you can lose it all, so do not interact with anything you don’t trust.
So to Keep It Simple Stupid.
An Intelligent Being, creates a wallet, Freighter to continue the previous example, connects this wallet, to either a Marketplace, like Litemint, or a developed private website like a Bleace.io. Either will have a smart contract, Marketplaces make this easy by writing the smart contract for you as not everyone knows how or knows someone who can write a smart contract, then the smart contract puts that NFT on the blockchain, which for this NFT example is on the Stellar blockchain.
It is the same process for Tezos, except now it’s using a Tezos wallet like Kukai, which then attaches to a Marketplace, like Objkt or Rarible, or a developed website that writes the smart contract on the Tezos blockchain.
I hope this analogy helps simplify Web 3. I know it’s a lot, please be patient with these marketplaces and with these artists, as everyone is working together to make it a better environment for all.
If you still have questions, please sign up to the newsletter on Bleace.com as we host various virtual events in our Bleace Virtual Galleries, you can also send an email anytime to email@example.com DM me on Twitter @BleaceNFT, or join our discord. I host a Twitter Space every Monday Night at 8pm EST as well. Let us continue to evolve and Go Further Together by Choosing the Next Best Step.