NFT Noob Guide
At Algogems we believe Algorand is the future of finance. Algorand founder Silvio Micali has the best approach to the Blockchain Trilemma, in our opinion. @metapunks.world has a wonderfully written piece covering this exact topic. We agree completely, and the article is worth reading to the end!
What is GEMS?
Algogems, or GEMS, is building the most accessible, and decentralized Metaverse Marketplace on Algorand. GEMS accomplishes this through removing all barriers to entry for all Artists.
This post will serve as a great starting point to learn how to go from a Content Creator with an internet connection, to a profitable GEMS Creator, minting and trading NFTs.
What is an NFT?
NFT stands for Non-Fungible Token. That means it can’t be replaced with something else. It is a verifiable, and provable, unique creation. There will never be another creation with your unique hash. NFTs give you something that can’t be copied.
Protect your Seed Phrase, and be responsible with how it is stored. This gives full access to your Algorand Account through any Algorand Wallet. It is common to keep a backup, in case the original is lost or damaged.
Let’s go through an example using GEMS
3.GEMS creates an ASA. This Algorand Standard Asset is the representation of your unique hash. This is the generation event of your NFT. On Algorand NFTs are ASAs.
4.List your NFT on the GEMS Algorand Metaverse Marketplace.
New content covering: 2021 in Review, $GEMS Tokenomics, and GEMS-based Governance, all in development. Stay tuned, and subscribe, for exciting new info.
Thank you for reading, GEMS FAM 💎
GEMS Core Team Member