Each NFT Release comes with five Tiers in order of rarity. Rarer NFTs include more features.
The percentage indicates how many NFTs of that tier will ever exist in the Release.
NFT stands for non-fungible token. Simply put, an NFT can be thought of as a unique and traceable record of purchase for a digital product. In an age where digital products can be reproduced almost infinitely, NFTs allow for limited quantities of a digital product to be distributed, regardless of how frequently it is reproduced afterwards.
With respect to artwork, NFTs reintroduce the idea of “original” products. A physical painting can be recreated over and over by other artists, but it is generally accepted that the original artist’s product is unique because it is original, and there is value to its uniqueness. Reproductions can be visibly indistinguishable and therefore offer an identical visual experience, but they are not the same as the original painting.
This concept is lost in the digital realm, where visually identical reproductions cannot be distinguished from the original. There is no way to tell whether a digital file is the original one, because no such mechanism exists.
The function of NFTs is to create a list of records that indicate the original owners of the digital product. Buying NFTs can be thought of as an artist drawing a limited quantity of original paintings, or a celebrity putting a signature on a limited number of posters, and customers purchasing those products. Every time an NFT is given to another owner (including the original purchase), the transaction leaves a permanent record, creating an unbroken chain of transactions that can be traced to an original. The owners of the NFTs can demonstrate through the records that they are the ones who purchased from the original supply. The content of the NFT can then be reproduced infinitely because it is digital, but the records will still identify the current owners of the original supply.
The list of records that NFTs create exists permanently on the blockchain.
A blockchain can be thought of as the master list of records for all transactions using a certain network or technology. Every time a transaction occurs in the network, it logs a record to the blockchain of sender and receiver (or buyer and purchaser). For all items in the network, its respective chain of transactions is always traceable, so it is possible to verify the authenticity of a digital product by checking its initial transaction (determine whether it was one purchased from the original supply). This ensures original digital products do not lose their value due to an inability to distinguish them from reproductions. In other words, it allows for customers to buy unique digital products that maintain their uniqueness over time despite the existence of visually identical reproductions.
Buying an NFT from Project Wights requires the use of ADA.
ADA is the cryptocurrency used in the Cardano network. It can be thought of as a digital form of money, like US dollars or Japanese yen, except it works through mathematical encryption and a permanent record of traceable transactions through the blockchain instead of the traditional system of bills, coins, and banks.
Cardano is the name of the blockchain used by Project Wights. Transactions in the blockchain network uses ADA as its cryptocurrency. It is currently (as of September 2021) the third largest cryptocurrency blockchain. Cardano uses Proof of Stake as its protocol, making it far more energy-efficient than Proof of Work. For more information on Cardano and Proof of Stake, please see links to other resources below.
Cryptocurrency can be thought of as a digital currency that does not work through banks. Instead it works through a permanent record (blockchain) of all transactions ever performed using the cryptocurrency.
When using normal currency, either bills and coins (physical representation of money) are traded, acting as the record of money changing hands, or a bank (trusted organization) creates a record of the transaction. Cryptocurrency does not use physical representations of money (no bills or coins). Instead, it simply keeps a permanent, traceable record of all transactions performed. Whenever there is doubt as to whether a user has enough cryptocurrency for a transaction, the full record of all transactions can be traced from the beginning to determine the amount of cryptocurrency currently owned by the user.
This master record of all transactions is constantly growing (because new transactions are always being made), and the validity of new transactions is constantly being verified by a large number of servers all around the world.
Cryptocurrencies operate in a decentralized fashion, meaning no main server has total control over the master record. Instead, all users participate autonomously (the computer does all the work) in constantly verifying the validity of the master record, so any small number of malicious actors trying to alter the record will be overwhelmed by the vast majority of users maintaining a truthful record. During each transaction, the program handling the transaction will select the current version of the master record agreed by the vast majority of users to be truthful as the one to use.
Buying an NFT will require the use of cryptocurrency. Project Wights operates on the Cardano blockchain platform, so the cryptocurrency ADA will be required. When an NFT sale has begun, clicking the [Buy] button on this page will reveal an address to which ADA can be sent. Sending the required amount of ADA there will automatically trigger an NFT to be delivered to you.
Please note that the exact amount of ADA must be sent to trigger the transaction. Incorrect amounts sent to the correct address will be refunded after an NFT sale.
Please note that ADA must be sent from one of the following Cardano wallets: Yoroi, Daedalus, AdaLite, Nami. Do not send ADA from an exchange.
A wallet is a program used to store cryptocurrency and perform transactions. It can be thought of, quite literally, like a wallet. There are many cryptocurrency wallets available, some with the ability to handle multiple different types of cryptocurrencies, but for Project Wights, we ask that you use one of the Cardano-specific wallets (Yoroi, Daedalus, AdaLite, Nami, CCWallet) to send your ADA.
ADA can be purchased from a cryptocurrency exchange using either other cryptocurrencies or normal currency. There are many exchanges available. Some of the popular exchanges include:
Many of these sites have guides to help with setting up an account and purchasing cryptocurrency. They may allow users to hold cryptocurrencies in their accounts, but to purchase NFTs from Project Wights, please transfer the ADA to your own Cardano-specific wallet (Yoroi, Daedalus, AdaLite, Nami), and send the ADA from the wallet.
Note that all exchanges should have a method of transferring ADA out of the account, but the process may be called different names (send, withdraw, transfer, etc).
Below are YouTube videos to help with get started with some popular exchanges. Note that we do not endorse or are affiliated with any of these exchanges and are only providing these guides for convenience.
