What is an NFT?
NFT stands for non-fungible token and are just digital certificates of authenticity. NFTs prove ownership of a unique digital asset with blockchain technology. They authenticate ownership of digital assets like photography. Just like physical certificates, NFTs document who created it, when it was created, who bought it, the price of purchase, and who is the current owner. All of this is public via a blockchain, so anyone can trace each of your NFTs from the original creator all the way to your wallet—and verify its authenticity.
What is a blockchain?
A blockchain is a network of computers that track transactions in their network and generate a giant ledger of who owns what, and how much of it.
Why Are NFTs Special?
In the digital world, exclusivity is usually not guaranteed. Photographs are constantly being stolen, reproduced, and edited by strangers. This won't stop happening when you sell NFTs, but you'll be able to create a digital proof of ownership. This is a game-changer for many artists. In the offline world, original paintings are bought and sold by art collectors all the time. It will always be a fact that those paintings were created by a specific artist. However, the owner of those paintings could change. The same principles apply to NFTs. Even though everything is done digitally, you'll always be the creator of your images. Specific people will be able to own specific photos of their choosing and will be able to sell them at their will. In the past, photographers had to print their images and sell limited editions to create value. Today, they can create value without leaving their homes. This means that as a photographer, you can have more freedom and control in the online realm.
What is a wallet and why do I need one?
Your crypto wallet is a form of ID (a long string of numbers and letters) that contains your money, your cryptocurrencies, and any NFTs you bought with those cryptocurrencies. There are a number of wallet providers, including Metamask, Coinbase, and Rainbow, among others. To sell your photos as NFTs on VIEWBUG or anywhere else, you need to connect your wallet to log in.
Where can I get a wallet?
Metamask is one of the most popular wallets and is fully compatible with the VIEWBUG (and most) marketplaces. Follow the link to Get Metamask.
What is a seed phrase?
When you create a crypto wallet, you get a “seed phrase” — a series of words that let you recover your currencies or NFTs if you lose access. NEVER GIVE THIS PHRASE TO ANYONE. Anyone who knows your seed phrase has full access to your wallet and can buy, sell or transfer any funds or assets. Neither VIEWBUG support nor any individual or organization will ever ask for your seed phrase. Keep it safe!
How much does it cost to mint (create an NFT) on VIEWBUG?
Our smart contract is optimized to achieve lower transaction fees. The transaction fee or “gas” depends on the network usage, and the current supply and demand of the blockchain, and could vary between $15 to $150 charged in Etherium. None of this transaction fee goes to VIEWBUG.
Can I mint my photo for free?
Yes, on VIEWBUG you can list your photo as an NFT and the transaction will only be sent to the blockchain once the buyer approves the contract. This will allow you to create a “voucher” of your NFT without having to mint your photo in the blockchain immediately.
How do I know when I sell a photo?
You will be notified via email when someone buys your photo and you will see your earnings appear in your wallet immediately.
How much does it cost to list my photo on the VIEWBUG marketplace?
VIEWBUG will only charge a 2.5% transaction fee, this will happen only when someone buys your photo.
What are resale royalties and do I get any?
A resale royalty is a percentage that you will receive if your photo NFT is sold on the secondary market. The smart contract states that you will receive a 10% perpetual royalty (or the amount that you choose) on secondary sales of your photo. For example, you listed your NFT for 0.1 ETH and Mark buys it. As a collector Mark then sells it for 1 ETH, if your resale royalty is 10%, you will automatically receive 0.1 ETH(10%) of the secondary sale.
Can I choose my own resale royalty?
Yes, when you list a photo for sale on VIEWBUG you can choose your own resale royalty.
What is the minting process?
To mint a photo you will have to connect your crypto wallet to sign the transaction. First, choose the photo that you wish to mint as an NFT, then include the name and description (and we will take the metadata information if available) and choose your royalty amount. After you do this you will have the option to create a contract to pay for gas and create the NFT right away or create a voucher and create the NFT once the collector buys the photo. The last part of the process is to sign the transaction with your wallet. Signing the transaction is the way to approve the contract and interact with the blockchain.
Why is my photo also showing on OpenSea?
Every photo minted on VIEWBUG is showcased on the VIEWBUG profile on OpenSea. This is our way to aggregate all the images in the VIEWBUG marketplace and give more exposure to the photos.
