Frequently Asked Questions
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What is an NFT?
NFT, stands for Non Fungible Tokens. But in simpler terms, it’s a digital deed that confirms ownership. This cannot be forged or altered by a third party. Therefore an NFT is a deed that confirms the ownership of a digital work.
NFT market tripled in 2020. Digital artwork entitled “Everydays – The First 5000 Days”, by artist known as Beeple, sold for US$69.3 million in 2021 along with many others being auctioned for exorbitant amounts. In 2021, the NFT market grew by 15,900% to USD 40 Billion. 2022 has been the year for Utility based NFTs that provide tangible benefits (Physical or Digital) to its holders.
What is minting?
Minting an NFT means creating a blockchain entry for the Non Fungible Token. These tokens are stored in a distributed ledger and cannot be edited, modified, or deleted. In this instance, when you pay for the NFT, the NFT is created on the blockchain.
Ethereum NFTs built and expanded the NFT space. However there are several downsides to Ethereum NFTs.
Ethereum network charges very high gas fees. (Around $20-$150 at times) However Solana gas fees are around $0.00025. High gas fees means, high resource usage which in turn means more energy consumption. This has helped Solana become a carbon neutral chain.
Solana based NFTs have been steadily growing over the last few months, allowing utility based NFT projects to find success easily.
When can I buy?
You can purchase the first 100 Round Table NFT Pins very soon. Stay tuned for updates.
Do I need cryptocurrency to buy Round Table NFTs?
You can purchase these NFTs with Credit or Debit Cards as well as the Solana Cryptocurrency.
What’s an NFT Wallet?
An NFT wallet can aid you in purchasing, selling and trading of NFTs by helping you safely store the private keys that are required to access your NFT. In other words, you can simply think of an NFT wallet as the place where you keep your NFTs. Your wallet has a public key using which you can send/receive NFTs.
Do I need a Wallet?
If you are purchasing using Solana, you need one of the following wallets: Phantom, Solflare, Slope, Sollet. If you are purchasing using Credit or debit cards, you will be receiving your NFT to a Crossmint wallet that’s automatically created for you.
CAUTION: Your Crossmint account is connected to your email address. Therefore, make sure that you have access to the email you are using when making the payment. We cannot reverse/recover your Wallet ID, Crossmint Account or your NFT for you.
How do I send my NFT from Crossmint to another Wallet?
Login to Crossmint and navigate to your NFT. Select Export and enter the recipient Wallet ID.
CAUTION: You cannot reverse this transaction.
How do I buy?
You can visit mint.roundtable.hyperglade.com and purchase using either Solana or your Credit/Debit card. The link will be available once purchasing is enabled.
How do I pick the artwork?
You can pick the artwork in the Mint page.
Where do I resell my NFT?
Once you have minted the NFT, your NFT will be available on the Solana blockchain chain and can displayed, traded or sold at any Solana NFT Marketplace. We will be facilitating these NFTs in Hyperglade marketplace as well. Hyperglade marketplace provides buyers and creators the ability to create/buy/sell NFTs with cryptocurrencies or credit/debits cards. Furthermore, the inbuilt wallet removes the requirement of a third party wallet.
Do I get exclusive rights?
The holder of the NFT gets the right to showcase, trade or sell the NFT. However the NFT does not give the holder the right to replicate, duplicate, merchandise or monetize the NFT. These NFTs are collectibles. Just like how buying a Pokemon card does not give you the right to merchandise the Pokemon or the card, most NFTs do not provide you those rights, unless specifically mentioned.