ADA Cardano NFTs Trading & Minting - All you need to know
NFTs (Non-Fungible Tokens) have taken over the world. What was previously only imaginable for Ethereum and Solana is expanding. The Cardano blockchain is getting more and more attention when it comes to NFTs.
Still under the radar but exploding in the background. Many great projects have already been implemented and the market is growing very quickly. An incredible community that Cardano has always had, as well as very low transaction fees, are driving the market forward.
We answer the most important questions about trading with Cardano NFTs. If you have any further questions, please feel free to send us a message.
What are Cardano NFT drops?
You are seeing the Cardano NFT drops now on social media all the time. NFT drop is essentially the release of a non-fungible token project.
Where can I find information about a specific Project?
Usually every legit project has its own website. For specific information most projects are using Discord and Twitter to spread their information. We try to provide you with links to these sources.
What is minting NFT mean?
In simple terms, Minting NFT refers to the process of turning a digital file into a crypto collectible or digital asset.The digital item or file is stored in this decentralized database or distributed ledger forever, and it is impossible to edit, modify, or delete it.
How to mint from an NFT drop?
Usually the Project will lounge the minting process on their Website. Read the information on the website and follow the countdown. As soon as it reaches 0, you get access to the minting wallet address of the project. Send exactly the mind price in ADA to this wallet address in order to receive your NFT.
What wallets can I use?
How long does it usually take to receive my NFT after I send my ADA in the minting process?
This will depend on a number of considerations such as network volume and popularity of the project. Usually it takes a few hours. If you don't receive an NFT you normally will get a refund in a legit project. Scams can happen, so be aware of that.
What is meant with Airdrop?
Airdrops are free tokens that you are eligible to receive as a result of being an early adopter, just a holder of an NFTs or if you have won a giveaway.
What is meant by “rug pull”?
When someone creates a project and then quickly abandons the whole project, community or the brand.
What exchanges can I use to sell my NFT?
Where can I find statistics about ongoing NFT-Projects?
We recommend https://cnft-analytics.io/ if you are looking for statistics about ongoing NFT-Projects if the project you are looking for is listed there.
Where can I find Rarity Charts?
You can find a rarity chart on https://cnt.tools/ if the project you're looking for is listed there. Most projects are listed there but not every project is using the rarity mechanic which this website offers.
How to view NFTs in your wallet?
Go on https://pool.pm/ and type in your receiving wallet address in the search field
What's a policy ID? The Policy ID defines who holds the rights to mint/make the NFT series. Only the person holding the private key of the policy id can create more. It is created before the NFTs are minted, it contains the rules for the policy as in who is allowed to mint them, for how long, and in the near future any smart contracts allowed to create them.
Awesome Guide for Beginners. Thank you!
Glad to hear 🙂