Prepare for a journey inside the blockchain and the web3.0!
Our first journey will give you a glimpse of the amazing world of NFTs.
Nonfungible tokens (NFTs) are digital assets that are not fungible. This means that their price aren’t affected by history or location.
Fungible digital assets are stablecoins like Dai, a cryptocurrency with its price pegged to the U.S. dollar, or other cryptocurrencies like Bitcoin and Ethereum.
An example of non-fungible digital assets are Cryptokitties in-game characters or Decentraland digital real estate properties (parcels). You own these like you would baseball cards or real estate but…digitally. These, too, are affected by time and may rise in value due to scarcity.
You can learn more about NFTs HERE!
For our more curious readers: here’s one of our previous articles on how to buy a particular NFT and use it to play a game to earn money. Real advanced stuff here… nothing to look at. 🙈
Find out how to make money playing blockchain games!
Our first adventure is to Mintbase!
What is Mintbase?
It allows anyone, including those with less technical backgrounds, to create their own digital assets verified on multiple blockchains. Mintbase provides users (minters) with various creative allocation and redemption mechanisms for their customers.
Basically, it’s like Amazon but for NFTs.
In this adventure ⛵️:
(Scenario: We’re a group of artists that just found out about Mintbase but are new to NFTs 🤔.)
Earlier, one of our “crazy” crypto friends, Michael, preached to us nonstop about NFTs.
He mentioned Axie Infinity, Opensea, Decentraland and a whole bunch of stuff that sounds like nonsense. 😂
And then he talked about this guy named Matty who, a few days ago, sold some NFTs in Decentraland for $55k!
Apparently, it was digital real estate 🧐.
We didn’t know what the hell that guy Matty was talking about on Twitter but money speaks. So we wanted in…at least just to find out. Listen, we were just curious. 🤷♂️
We’ve been ignoring our friend for over a year — that poor guy.
We just didn’t see the value in those digital items.
He did say something that did get our attention; he told us that our paintings could be proven and won’t be counterfeited once they were on the blockchain. We loved painting, so that helped. However, that Decentraland digital property thing is something we’ll start learning about later. That Matty guy is a legend for that one. 😂
We started our research on Youtube just to get a grasp of the basic idea behind NFTs. Mike tried to help us out. He tried…
The video kind of helped.
We also remembered to download Telegram to ask some questions to the Mintbase team members. (A little something Mike taught us. 👀)
After some more research, we decided to go on the site and create an account.
Then, we picked the Fortmatic option and were able to login with just our email and password. Wow! That probably was the easiest login process we’ve experienced in crypto…
We’ll continue the story on Bitcode Journal #2.
(Note: It may or may not be because Ethereum gas fees are too high at the moment 😂.)
Source: ethgasstation
Yep. Look at these gas prices.
Since we’re already talking about gas prices, our next article will be about a blockchain DeFi app that solves the gas issue. 👀
We will also be providing you with a brief lesson on what Ethereum gas fees are. 😃
(Note: Ethereum gas fees are also known as gwei)
It’s pronounced gray but in baby talk.
Right now, you’re probably attempting to pronounce gwei…in that baby voice.
Don’t be embarrassed.
Only real bosses know what gwei mean. 😎