NFT EN - 12.07.2022 23:12
What is NFT? How to create a Metamask wallet?
What is NFT? How to create a Metamask wallet?
What is NFT?
A non-tradable token, or as it is popularly known in English, is a unit of data stored in a digital ledger called a blockchain, which confirms that a digital asset is unique and therefore not interchangeable.
To make a simple analogy, the NFT can be thought of as a shiny Pokémon card. Anyone can print one and even make it look exactly the same. However, it is not the same in the eyes of a collector.
Shiny Pokémon cards are valuable to us for being unique and original. The same is true for NFT. Of course you can download NFT's picture or collectible. However, just because you can download it does not imply that it is original and that you truly own it.
Even the NFTs in a limited-edition series are not the same. You can have the serial number 1 out of 100 works in the series. In this case, the artifact in your possession may be more valuable than the others.
What can be NFT?
The real question that needs to be answered is what exactly the NFT can represent. Should it be digital-only items, or could it be real-world artwork as well? Although not very common, physical collectibles can also be represented by NFTs. In these cases, the private key of the wallet containing the NFT is usually included in the work or given with the artifact.
It's much more common for digital artwork, songs, GIFs, and videos to have their own NFT. Even in-game collectibles can be represented by NFTs and financial staking products. Crypto art and NFTs are not limited to just one format. So there are no limits when it comes to creativity for your new NFT.
Do I need a specific wallet to use NFTs?
It all depends on the network you choose to generate your token. Fortunately, many wallets nowadays support both Ethereum and Binance Smart Chain. So, it doesn't matter much anymore. These are the two most widely used blockchains for NFTs.
The most important thing here is that you control the blockchain network from which your token was mined. If we are talking about Ethereum token, you will need a wallet that supports Ethereum. If it's issued on Avax, you'll need a wallet that supports Avax.
How to setup Metamask Wallet?
1-)Go to https://metamask.io/download.html
2-) Click the Install MetaMask for Chrome button. This button takes us to the chrome web store page https://chrome.google.com/webstore/detail/metamask
3-) Click the Add to Chrome button. Thus, we will be able to access our metamask wallet on every page we open in chrome as an extension, and we will be able to connect our wallet to DeFi platforms.
4-) Click on the add extension button.
5-) After installing the extension, the metamask "Get Started" button opens directly. Click the "Get Started" button.
6-) Continue with the button on the right to create a new wallet. We continue with the “Create a Wallet” button.
7-) We approve the text stating that MetaMask collects your data and does not collect data that will threaten your security. Click the "I Agree" button.
8-) After typing the password here, we create our wallet with the Create button.
9-) The most important step for wallet security is hidden words. In the future, when you want to access the metamask wallet on another computer, MetaMask will ask you for the secret words. Click on the lock sign “CLICK HERE TO REVEAL SECRET WORDS”.
10-) The words written here are enough to access your wallet. Write them down in a place where you won't lose them but don't want them or where they can't be accessed by anyone but you. You need to make this note at this step because it will ask you for these words in the next step.
11-) On this screen, we see an empty screen and the words in the previous step are displayed in a mixed order. Here, we need to mark and select the words we noted earlier in the same order as in the figure above. In this way, MetaMask confirms that you have saved these words. After placing the words, we click on the confirm button.
12-) Congratulations! Your wallet is set up. Now you can start using your wallet.
