NFT 101

Welcome! We want to make it super easy for you to setup a digital wallet and get back to your primary goal:  signing-up on our Pre-Sale List to buy a DreamCrazy JIT!

NFTs, cryptocurrency, the blockchain, and Web3/metaverse, are exploding in use and public discussion. They're new concepts for many of us, but there's no reason to be nervous. Hopefully, the FAQ below will make you more comfortable. 


If you're still stuck, submit your email in the form in the footer of this site and we'll get back to you asap.

1.  What's an NFT?


NFT stands for “Non-fungible” token, which is a one-of-a-kind digital item that is validated on the blockchain and can’t be changed.

NFTs can really be anything digital (such as images, drawings, or music), but a lot of the current excitement is around using the technology to sell and collect digital art. You can copy a digital file as many times as you want, including the image that’s included with an NFT, but an NFT is more than just an image - NFTs are designed to give you something that can’t be copied: ownership of the work. In a real world example: anyone can buy a Monet print. But only one person can own the original.


Buying an NFT also usually gets you basic usage rights, like being able to post the image online, set it as your profile picture, or display it anywhere.  In some cases, such as the Bored Ape Yacht Club NFT collection, owner's also have commercial rights to exploit derivative versions of the particular NFT they own.

For collectors, NFTs work like any other speculative asset, where you buy it and hope that the value of it goes up one day, so you can sell it for a profit.

2.  What's a Digital Wallet?
Digital wallets are software-based systems that securely store user's digital currency and assets (such as NFTs), make transactions, and track payment histories by computer.


They are protected with a password and robust "seed phrase" structure for back-up and restore protection.

3.  Setting Up a Digital Wallet

We recommend using a Metamask wallet.  It's probably easiest to create your wallet on computer, at

Metamask.io  -- you can always add the app on your phone later.  Metamask needs to be used with one specific browser - it installs and runs as a browser extension. Metamask supports Firefox, Chrome, Edge, and Brave browsers...but not Safari, at this time.

IMPORTANT!:

  • Be sure you are accessing the official Metamask site with the top-level domain ".io" - sites that end with .com, .org, .net, etc. are scams and could possibly steal both your information and your crypto.
  • When you begin the setup of your wallet, you will be given a 12 word Seed Phrase. Your Seed Phrase is the ultimate key to your digital wallet account. Other than when you are first setting up your digital wallet, or are restoring a wallet that has been lost or corrupted, you should never be asked to provide your Seed Phrase.
  • Be sure to back up your 12 word Seed Phrase in at least two secure locations. Decentralization has some great benefits, but if you lose your device, or get locked out, there is no support team/service to help you unlock and get back in.
  • DO NOT STORE YOUR SEED PHRASE IN DIGITAL FORMAT on any device connected to the internet, or email it to yourself or anyone else - hackers are able to search computers and email systems for groupings of just 12 words...and if they find your Seed Phrase, they can easily take over your account and transfer all the contents.  Our advice: write down your Seed Phrase clearly on a piece of paper and store it a couple of different secure locations (i.e. not on your desk or in your wallet!).
Instructions to Setup Your DIgital Wallet Instructions to Sync Mobile Wallet with Browser Extension

4.  Which Cryptocurrency Do I Need to Buy an NFT?

The DreamCrazy JITS NFT is built on the Ethereum blockchain, which means you will need a digital wallet that supports the Ethereum smart contract platform...as noted above, we recommend the MetaMask wallet.

At the moment, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports NFTs, which store extra information that makes them work differently from, say, an ETH coin (the Ethereum-based cryptocurrency).


Other blockchains, such as Solana, which is also a cryptocurrency, have also implemented their own versions of NFTs and require a compatible wallet. Bitcoin, while it's also built on the blockchain, is strictly a cryptocurrency and does not support digital assets such as NFTs.

5.  How Do I Mint a DreamCrazy JIT NFT?


We launched the "O.G. Collection" on June 19, 2022 at 10AM EST.  For the initial drop, the price per DreamCrazy JIT NFT is 0.1 ETH. 


You will need to have a MetaMask wallet in order to mint (purchase) a DreamCrazy JIT (see section 3 above). After you've minted your JIT(s), you can easily transfer your JIT(s) to a different digital wallet, either from your OpenSea account (see below) or from the MetaMask wallet.


Once you mint your own NFT, it will display in your Metamask wallet and on OpenSea.io, the primary global marketplace for NFTs. You should link your wallet to OpenSea, so you'll have an account where you can see all the NFTs that you've acquired, as well as others that have been minted in the DreamCrazy JITS collection, put your NFTs up for sale (anything after the initial minting is called a "secondary sale"), and research/purchase other NFTs that catch your eye! 


To connect your MetaMask to OpenSea, follow the simple steps below.


  • Before you can connect your MetaMask wallet to OpenSea, you must first either install the MetaMask extension in your browser or download the MetaMask app on your smartphone.
  • Once you’ve installed and set up your MetaMask wallet, you can open the OpenSea website or the OpenSea mobile app.
  • Try to access the profile section on OpenSea by tapping on the “Profile” icon in the nanigation menu and then selecting “MetaMask” from the list of compatible wallets.
  • This will automatically open MetaMask and you will be asked to approve connecting your MetaMask wallet to OpenSea.
  • Follow the prompts on the screen and you’ll be connected to OpenSea within minutes.


6.  How Do You Buy and Sell NFTs?


NFTs are initially purchased from the person who "minted*" them, but there is a robust secondary market as well. There are several online marketplaces which allow people to buy and sell NFTs, including OpenSea.io, SuperRare.com, Rarible.com, and NiftyGateway.com, among others.

The process of buying/selling an NFT is pretty seamless between two digital wallets. In the background, the transaction is recorded on the blockchain, where it is transparently viewable via a search engine that lets anyone look up, confirm and validate transactions.


NFTs are generally purchased with cryptocurrency (e.g. Ether, ETH), but with Metamask you can essentially use your credit card to purchase an NFT.  Basically, Metamask enables you to purchase Ether from inside the Metamask wallet, using any internationally recognized credit card.  Then you use that Ether to purchase an NFT.

*"Minting" an NFT refers to publishing it on the blockchain, which enables it to then be bought and sold.

7. What's the Blockchain?
At a very high-level, the blockchain is an online ledger of transactions that is decentralized - i.e. it doesn't exist on a single server or under a single roof, but rather is spread out across thousands of independently participating computers across the world.


Decentralized blockchains are immutable, which means that the information and history entered (such as the transactions of an NFT or a cryptocurrency) is irreversible...permanently recorded and viewable to anyone.

Per Investopedia, "The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party....If one user tampers with Bitcoin’s record of transactions, all other nodes would cross-reference each other and easily pinpoint the node with the incorrect information. This system helps to establish an exact and transparent order of events. This way, no single node within the network can alter information held within it."

8.  What's the Metaverse and Web3?

Metaverse is a broad term. It generally refers to shared virtual world environments which people can access via the internet. The term can refer to digital spaces which are made more lifelike by the use of virtual reality (VR) or augmented reality (AR). - NY Post

Web 3.0 is slated to be the new paradigm in web interaction and will mark a fundamental change in how developers create websites, but more importantly, how people interact with those websites.

Techopedia explains: "There is no concrete definition for Web 3.0 yet and the technology that will bring us there has not even matured yet. In the current Web 2.0...users can search for information using various search engines which generally provide satisfactory results if there is enough information regarding the search. However, that search is only for keywords and brings in the most popular information available, and does not understand the context of the search.


So, for example, if a user searches for an insect called a camaro and uses only that one word, then about 90 percent of the search results are for the Chevy Camaro model of car and not the insect because the car is the most popular search result and has the most prolific information. [As envisioned,] Web 3.0 will be able to get the context from the user; and then be able to provide the user with the most useful information about the camaro insect, such as its habitat and even where to find it as a delicacy. Web 3.0 can be likened to an artificial intelligence assistant that understands its user and personalizes everything."

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