4 min read · Jun 21, 2023
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A special information article for artists.
What are NFTs?
NFT stands for ‘non-fungible token’. Non-fungible means that something is unique and can’t be replaced. By contrast, physical money and crypto are fungible, which means they can be traded or exchanged for one another. Every NFT contains a digital signature which makes each one unique. NFTs are digital assets and could be photos, videos, audio files, or another digital format. NFT examples include artwork, comic books, sports collectibles, trading cards, games and more.
What is PASS?
Pass is an NFT concept of membership card. So, pass can be actually whatever the creator want it to be. At the same moment, pass can keep the value of art and utilities behind the NFT.
What is the MINT?
MINT is the process of creating an NFT. Mint can be easily understand as the buying process of NFT. Nothing special or hard to understand, but the technological process behind it.
If you are interested in the specific technology of NFTs — you can google those words: (smart contract, NFT contract, ERC721)
What is DROPs?
Drops is a new (2023) feature of OpenSea marketplace. Drops give an access to set up a mint page exclusively for certain projects. It is the new way to create landing/mint page for projects who doesn’t want to make a mint on their own website.
NFA.space decided to launch on Drops because we see a lot of advantages for the collectors to use drops as the minting page.
1. Trust
2. Safety
3. Security
4. OpenSea support
What is OG/WL/Public mint?
All of these are the mint phases. Mint phases were invented to prevent demand sickness/ overloaded interest from the community.
Usually NFT collection have the limited supply and to prevent the manipulation, founders create special allowlists phases.
OG list is for Early Birds. For those, who joined project on the early stage.
WL list is for the users who stay active during the project development and grows (supporters, advisors, active community members).
Public mint is for others. For new customers and minters.
Why do we launch the collection of PASSes?
The PASS name was selected to support the vision & idea of the 10k collection.
As all of you know we are building the collection/auction house for fine art at the NFT space. It means we will host the auctions for selected artists and selected collectors.
To join the club each participant should have the access pass (NFT pass).
Artists received their NFT for artists (As the access/confirmation card).
Collectors can join the club by owning the 10k collection NFT (it might be an NFT over all stages).
Overall, the “PASS” name for collection was selected just to make it clear for collectors.
Why you can’t see your artwork in the collection?
Right now, everyone can only see the animated video of NFA pass. This will be the same for everyone for the next 2 weeks. This is marketing strategy to prevent fast and manipulating reselling.
In 2 weeks after mint ends all passes video will be automatically converted into artworks. It means that 1,000 passes = 1,000 artworks (350 artists)
Why is not possible to choose 1 artwork over the 10k collection and buy it directly?
The 10k collection is just the first NFT product of NFA.space with the big collection of fine art by 1,000+ artists. It’s even the first worldwide collection of 10,000 artworks by huge number of artists. We make the unique product and use the unique system to sell the art.
Typical listing of art which have been used by thousands of artists before will not work in a right way nowadays.
To have a successful sale we have to use modern ways of distribution, modern ways of creation, modern ways of building.
NFA.space have plans to launch a closed auctions with the old style sale system, and it will work as the typical auction. But for now we are making only the first step in a path of presenting fine art at the NFT space.
Why do we launch only 1,000 artworks now?
Collection of 10,000 artworks have been cut into stages. It’s much more easier for collectors to buy, discover and collect. It’s much more easier for artists to manage the artwork they want to sale. It’s much more easier for NFA team to influence and promote.
Remaining 8,000+ artworks will be launched as stages during the next months.
Will my artworks sold during this stage?
In the 2nd stage (PASS stage) team has presented as much artists as it possible. Over 350+ artists will sell their artworks during this stage.
For each stage team will manually select and manage artists list to sell and present more & more unique artists and artworks.
Stay tuned for the updates.
