what is an NFT?
NFT stands for Non-Fungible Token. “Non-fungible” means that it is unique and can’t be changed or replaced with something else.
So for example, a piece of art or music is unique and it can't be transformed into something else.
It is non-fungible and can be uniquely tokenized on a blockchain.
An NFT's unique token (blockchain identity) can be allocated to a person, so that one piece of art or music becomes uniquely tied to them.
This is usually in exchange for digital tokens (in this case Ethereum).
Counting Coral NFTs are pieces of digital art, the sale of which will help to contribute to Counting Coral's non-profit goals and supporting coral restoration
Counting Coral NFTs will be sold and the income used to fund our reef restoration projects Counting Coral uses OpenSea to sell NFTs.
what is a blockchain
A blockchain allows digital information to be uniquely recorded and distributed, but never changed or edited. In this way, a blockchain is the foundation for immutable ledgers: records of transactions that cannot be altered, deleted, or destroyed.
There are different blockchains with different functions, but one of the most commonly used for NFTs is ETHEREUM (or ETH)
entering web 3.0
Let's look at the step to buying a Counting Coral NFT.
The basic initial steps for set up:
Sign up for a crypto exchange
Sign up for a crypto wallet
Sign up for OpenSea (NFT marketplace)
Transfer $ from your bank to your crypto exchange
Buy Ethereum (Trading as ETH) with your $
Transfer your Ethereum (ETH) into your wallet
Connect your wallet to OpenSea and use Ethereum to buy your Counting Coral NFT collection
Feel happy with your NFT and feel awesome about your contribution to the planet
So, for Counting Coral NFTs, you will need Ethereum. In order to purchase Ethereum, you will need to follow the steps below (or skip them if you already have ETH)
3 easy steps to start collecting
Sign up to a crypto exchange.
Decide on which Crypto Exchange to use, for example: Coinbase, Binance US, Gemini and eToro etc. These are just typical US based Crypto Exchanges and not recommendations.
USA based people should confirm that the exchange selected is acceptable in the State where they reside (some US states have restrictions on how you transact crypto)
Once you decide on an exchange you will need to:
Validate your address and identity
transfer $ into the account from your bank (usually an ACH transfer)
your crypto account will have a range of Crypto Tokens that you can purchase.
For purchasing a COUNTING CORAL NFT on OPENSEA, you will need to buy ETHEREUM.
You can purchase a fraction of an Ethereum, or multiples of Ethereum, as needed.
Now you have Ethereum you will need to transfer it into an online wallet, so that you can browse and purchase on OPEN SEA
Connect an online wallet to your exchange.
At the time of writing 'Metamask' was the most used and easily integrated for OpenSea purchases
Metamask is an online wallet for laptops, or phones (https://metamask.io/). Please make sure you only download from the official site
You will again need to prove your identity
Transfer your Ethereum from your exchange to your wallet.
Only use ERC20 tokens (there should be a drop-down in the wallet) and follow the procedures outlined by your exchange and wallet correctly
Now you should have ETH in your Metamask wallet for use on the OpenSea site
Sign up for OpenSea
Follow the now familiar rules to open an OpenSea account
Only sign up from the official site (https://opensea.io/)
Once in OpenSea you should be able to browse NFTs for sale
Connect your MetaMask Wallet and purchase / bid on Counting Coral's NFT's
Crypto currencies can be volatile and the market is unregulated.
Please do your own research and make decisions accordingly.
Counting Coral does not provide any financial advice, or make any guarantees of financial performance..
Any information provided or presented by Counting Coral, related to crypto currency, crypto sites, crypto exchanges, crytpo wallets, or NFT's, is for educational and entertainment purposes only.
Any purchases will be treated as a donation and contribution to Counting Coral's reef restoration non-profit projects