FAQs
- What is an NFT NFT stands for non-fungible tokens like ERC-721 (a smart contract standard) tokens which are hosted on a blockchain. NFTs are unique digital items such as collectibles, media, artworks or game items. As an artist, by tokenizing your work you both ensure that it is unique and brand it as your work. The actual ownership is blockchain-managed.
- What is Minting? The process of tokenizing your work and creating an NFT
- What is Burning (burning a token)?Tokens can be minted (creation), as well as destroyed - i.e. burning the token.
- How does the royalty system work? When you mint an NFT you can set a royalty (%) for secondary sales. Example: You create a music NFT and sell it for 100 $TOASTz with a royalty of 10%. Someone buys your NFT and later sells it for a greater amount, let's say 1,200 TOASTz. As the original creator of the NFT, you would receive 10% of that sale (120 TOASTz). This continues as the NFT is sold again and again.
- What is the price of an NFT? When you create an NFT or buy an NFT and place it for sell, you can set the price to whatever you like.
- How do I market my NFT? You can market in your existing channels (like social media, youtube, tictok, etc) or you can participate in the NFT voting feature on TOAST. Learn More
Last modified 1yr ago