While this is not an exhaustive list of Frequently Asked Questions, these FAQs will get you started and help you out with some of the most important things to do when using GhostMarket.
What is GhostMarket?
GhostMarket features fully trustless NFT trading facilitated by smart contracts on each integrated blockchain. One of its unique and most innovative features is its self-minting platform. Minting NFTs on GhostMarket allows artists and developers to create NFTs to control the royalty percentage, attributes, locked content, and more. One of the main attractions of GhostMarket is the vast array of outstanding artists, talented musicians, and skilled game developers creating digital masterpieces on the marketplace.
What is an NFT?
NFTs, or Non-Fungible Tokens, are unique digital items that are revolutionising the way artists, musicians, and game developers distribute content. NFTs differ from traditional blockchain coins and tokens, such as Bitcoin, because each one is unique, rare, and authentic. These characteristics make NFTs attractive to collectors. They can represent various forms of media such as Digital Artwork, Crypto Collectibles, Exclusive Music Releases, In-Game Items, and so much more.
What Blockchains Does GhostMarket Support?
How to Create a User Profile on GhostMarket?
We have compiled a dedicated guideline on creating and building your own user profile on GhostMarket.
Which Wallets Can I Use to Connect to GhostMarket?
You can connect to GhostMarket using one of the following wallets:
- MetaMask Wallet (Binance Smart Chain, Polygon, Avalanche)
- Binance Wallet (Binance Smart Chain)
- Wallet Connect (Binance Smart Chain, Neo N3, Polygon, Avalanche)
- Trust Wallet (Binance Smart Chain)
- ONTO (Binance Smart Chain, Polygon)
- Math Wallet (Binance Smart Chain)
- Token Pocket (Binance Smart Chain)
- SafePal Wallet (Binance Smart Chain)
- Neoline Wallet (Neo N3)
- O3 Wallet (Neo N3)
- OneGate (Neo N3)
- Neon Wallet (Neo N3)
- Ecto Wallet (Phantasma)
- Poltergeist Wallet (Phantasma)
- Wallet Link (Polygon)
What Does NFT “Minting” Mean?
Minting an NFT is the process of naming, describing, and then creating your NFT on the blockchain of your choice.
What does it mean to “infuse” an NFT?
“Infusing” is the term used to describe embedding other objects (coins or NFTs) within your NFT. These objects can be subject to a release only after burning the original NFT. Infusing is a unique feature available only for NFTs minted on the Phantasma blockchain.
How do I “Infuse” an NFT?
To infuse your NFT, be sure to create your NFT on the Phantasma blockchain first. Then, click the Infuse NFT with Asset button and choose how much and which asset you want to infuse (BNB, ETH, SOUL, NEO, etc.). When you first mint an NFT, you can only infuse it with fungible tokens like SOUL or ETH. To infuse your NFT with another NFT, first mint your NFT, click the NFT, and go to the Infusion Section.
What is CROWN NFT?
CROWN is a Phantasma exclusive Smart NFT that gives a power boost to increase your KCAL generation (Phantasma Energy) when you stake Phantasma’s native token SOUL. On top of that, long-term Soul Masters (stake 50k SOUL) earn a CROWN NFT every 90 days, containing infused assets (SOUL and KCAL). You can either burn the NFT to unlock these assets or use its first extraordinary power to add 5% to your KCAL generation rate by holding the CROWN in your wallet. Each CROWN boosts your KCAL generation rate by 5%, up to a maximum of 100% if you own 20 CROWN in your wallet.
Where Can I Buy CROWN NFTs?
You can purchase CROWN NFTs, aka CROWNs, on GhostMarket.
I am a Collector — How do I get Started with GhostMarket?
We have prepared a dedicated guide for collectors, which gives you step-by-step instructions on how to get started collecting unique and valuable NFTs on GhostMarket.
I am a Creator — How do I get Started with GhostMarket?
We have prepared a dedicated guide for creators, which gives you step-by-step instructions on how to get started with creating your NFTs.
Can I Create an NFT on GhostMarket without Putting it on Sale?
Yes, you can create an NFT on GhostMarket without putting it for sale. In other words, after minting your NFT, you can decide when to put it for sale or auction in the marketplace — it is up to you if you choose to sell it or not, either now or later.
Can I Change the Price of an Already Created NFT?
Yes, you can change the price of your NFT by canceling the listing and then listing the NFT again with the new price.
How do Programmable Royalties Work?
Whenever you create an NFT, you can set a certain percentage as royalty for all secondary sales in the future. The programmable royalty system is activated if someone buys your NFT and sells it to another collector. That means that as the original content creator, you receive a percentage of every subsequent sale.
What is “Locked Content”?
The locked content is a URL or code, which is encrypted and stored in the smart content. Only the current NFT owner can access and decode it.
What Does “Burn a Token” Mean?
Burning a token means taking it out of circulation because it is sent to a burning wallet which nobody can access. This guarantees that the NFT can never re-enter circulation. If there are assets infused inside an NFT — such as the case of CROWN NFTs, the NFT burning process allows retrieval of them to the owner’s wallet.
How do I Become a Verified Artist on GhostMarket?
You can become a Verified Artist on GhostMarket you must have a completed user profile by meeting the requirements in this article. Additional steps will be required to become ‘verified’ and have a blue tick next to your user name. More information on this will be available shortly.
What is Physical NFT?
The Physical NFTs are digital assets developed based on real-world objects; they can be anything from real estate properties, cars, tangible goods, etc.
Can I Sell Physical Items as NFTs?
Yes, you can. In this case, you are converting these physical goods into NFTs representing a digital replica of the above with a unique identifier. By doing this, you can sell the physical assets in the NFT marketplace like digital assets.
What are the Benefits of an NFT Marketplace?
The NFT marketplaces have various properties and benefits such as:
- Decentralized nature that safeguards the anonymity of the users;
- Immutable servers that ensure and guarantee the security of the assets;
- Provision of instant liquidity to the users.
If you’d like to check it out yourself, go to our website GhostMarket
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