NFT stands for Non-Fungible Token. I know that doesn’t help explain what it is. A NFT uses the blockchain similar to crypto currency such as bitcoin. The difference is that NFTs are unique one of a kind tokens that are often linked to collectables such as artwork, tickets, music or performs some kind of utility for the holder. Using NFTs on the blockchain has many benefits such as tracking providence of a collectible and also gives the creator the ability to program smart contracts into the NFT to perform additional utilities that are executed automatically once all conditions are met. It is important to know who created an NFT and what the smart contract has the ability to do. If you stumble across a malicious creator they could end up tricking you and draining all your funds. Becoming part of the community backing the NFT project is one of the best ways to talk to other people like yourself and also to get information on exactly what the NFT does.
Wallets for NFTs are easy and free to get. You can use Phantom to store your City Spirit NFTs. Other Solana based wallets will also work to hold your NFTs but they might not all give you the tools necessary to play the City Spirits Game. Once you set-up a wallet you will want to make sure to keep your private keys and recovery phrase secret and NEVER share them with anyone. Not tech support, not Phantom, not City Spirits, not even your dog should know these! NEVER lose the secret group of words you are told to write down! You can safely give out your public address to receive NFTs and other crypto tokens.
Solana is the blockchain that powers City Spirits NFT. Solana has its own crypto currency called SOL. You use SOL to buy and sell NFTs on the Solana blockchain. You can purchase SOL on many major exchanges or use Moon Pay in your Phantom wallet. Some methods of purchasing SOL are cheaper and safer than other. Moon Pay is fast and easy but has much higher fees. We use Binance.us in the United States to purchase sol using a bank account transfer and then send the SOL to our Phantom wallet to use as needed. A new service called Cross Mint can offer direct sales (Minting) of NFTs using your credit card or even Google Pay! We wish them tons of success!
Simple. Solana is a fast transacting blockchain with cheaper fees than ETH. The proof-of-stake model keeps the Solana network secure and environmentally efficient at the same time.