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What is an NFT?
NFTs, or Non-fungible tokens, are one-of-a-kind digital items, with proof of ownership stored on a blockchain. They function both as a digital collectible, often of an artwork, and a membership certificate. NFT technology allows us to demonstrate verifiable ownership of a unique image, GIF, video file and can entitle owners to special rights like a VIP pass and backstage tours. Sziget Festival will “mint” limited editions of artworks that capture iconic memories from Sziget 2022 and entitle the holders to specific rights and privileges at future Sziget Festivals.
Are NFTs enviromentally friendly?
It is true that some NFTs use a huge amount of energy. It is important to understand that making NFTs does not directly link with high energy consumption. It is the Proof-of-Work consensus algorithm that some blockchains use to verify transactions that uses lots of energy.
Nimi uses Proof-of-Stake blockchains such as Polygon that can be multiple factors more efficient, process transactions at a much higher speed, and keep the energy consumption minimal. A transaction on Polygon takes less energy than a single Google search.
Where do I store my NFT?
Your NFT is stored in your personal Wallet. The Wallet has a public code that the world identifies you with and a private code so only you can access it. The Kiss NFTs are minted using the Ethereum blockchain and would require a Ethereum-compatible wallet, such as Metamask or Payrue.
Can an NFT be copied or forged?
A blockchain is a distributed ledger on which any information can be stored. Unlike other shared databases, information stored on a blockchain cannot be changed or rewritten. Whenever an NFT is minted and stored on a blockchain, an accurate and permanent record exists of when it was created, and by whom. While you can go and mint an NFT that is seemingly identical to a popular or valuable NFT, its provenance and chain of title is impossible to fake.
What do I receive when I buy a The Kiss NFT?
You will receive a link to your personal NFT on IPFS. You may add a dedication next to the NFT on the website via a dedication link. You will also be able to download the data file of your NFT tile to use it for your personal use at your discretion. You will be able to view the NFT in your Nimi Gallery, and can redeem other benefits provided by the Belvedere by connecting your wallet to the official The Kiss NFT’s website: https://thekiss.art/.