Current Drop: Masters #001 - Caravaggio
WTF is an NFT?
NFT stands for non-fungible token.
“Non-fungible” means that the token is unique and can’t be replaced with something else. For example, a bitcoin is fungible — you can trade one for another bitcoin, and you’ll end with exactly the same thing. A one-of-a-kind piece of art, however, is non-fungible. If you traded it for a different piece of art, you’d have something completely different.
In the simplest terms, NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain.
NFTs are typically used to buy and sell digital artwork and can take the form of GIFs, tweets, virtual trading cards, images of physical objects, video game skins, virtual real estate and more.
Where can I buy an NFT?
What do I need to buy an NFT?
1. A digital wallet like Metamask.
You should start by installing their browser extension that lets you interact with various facets of Ethereum. MetaMask is a digital wallet for Ethereum and all the tokens created on Ethereum (both fungible and non-fungible).
2. Ethereum (or any other cryptocurrency accepted by the seller).
After installing the extension, you should buy some Ethereum (you can do it directly in MetaMask with a debit card or Apple Pay by clicking on "Add Funds"). But be very careful with your funds — store your MetaMask password and your wallet's private key somewhere safe.
Then, when you visit a website that sells NFTs (such as Rarible) connect your MetaMask wallet to the site (only do that on sites you know are safe).
4. That's it! Once you have completed these steps you are ready to buy your first NFT.
What is "Masters" by Default Club?
Masters by Default Club is a collection that brings the legacy of history's greatest artists to the metaverse. Each signature represents both the life and style of the artist. You can check it here.