Web3 and NFT Basics

Welcome to web3! Here are a few tips to get up and running in the decentralized ecosystem.

Introduction to web3

Web3 is the decentralized web built on blockchain technology. Creators and brands are moving to Web3 because it provides more security, privacy, transparency, and new business models. Web3 also offers a more equitable and inclusive platform for creators and users. It's an exciting new technology that empowers creators and promotes innovation.

What are NFTs?

NFTs, or non-fungible tokens, are digital assets that use blockchain technology to verify ownership and authenticity. NFTs can represent various digital content, such as artwork, music, videos, and tweets.

Creators, artists, companies, and businesses can sell their digital art or assets as NFTs and get royalties whenever the NFT is resold.

NFT Essentials

1. Digital Wallet

This is essentially your access passport to web3. A digital wallet holds, manages, transfers, and receives cryptocurrency and NFTs. You can choose from many services, as NiftyKit supports software and hardware wallets. Some wallets we recommend:

• MetaMask

• Tally

• Ledger

• WalletConnect

• Coinbase

2. Cryptocurrency

To create an NFT, you'll need crypto to pay for the minting transaction and gas fees. Here are a few resources to help you purchase crypto:

• How to purchase ETH

• How to purchase OETH

• How to purchase MATIC (via MoonPay)

3. NiftyKit Account

Once you have a digital wallet and crypto, you're ready to create your first smart contract and NFT using NiftyKit. Head over to NiftyKit.com and sign up for an account – it's free to use our tools to create unlimited NFT Collections perfect for creators, artists, companies, and businesses transitioning from web2 to web3.

4. Blockchain Networks

NFTs can be created on many different blockchains. Currently, the most widely used blockchains for NFTs are Ethereum and Polygon.

Ethereum is home to many widely popular collections, such as CryptoPunks, while Polygon has a wider adoption with enterprise companies such as Starbucks, Reddit, and Meta.

NiftyKit supports NFTs on the following networks:

• Ethereum

• Polygon

• Optimism

• Arbitrum

• Arbitrum Nova

5. Marketplaces

Marketplaces are where you transact (buy, sell, trade) your NFTs once created. Here is a list of top marketplaces that support Ethereum, Polygon, or Optimism:

1. OpenSea (ETH & Polygon & OP)

2. Rarible (ETH & Polygon)

3. LooksRare (ETH)

4. Coinbase (ETH & Polygon)

If you minted an NFT on NiftyKit, your collection would be viewable on any marketplaces that support your network.