SpaceBudz! Yes, I got one. Tradable NFT on Cardano
SpaceBudz have been released! With updates on the Cardano blockchain slowly rolling out, we now have NFTs, or Non-Fungible Tokens starting to appear on the blockchain. Sure they may be just a fad at the moment but if you look back at Crypto Kitties that launched back in 2018, some of those little kitties are selling for 20 Eth or more.
Either way, the introduction of the 'Mary' hard fork bought with it native assets to the blockchain. This allowed users to create their own tokens and trade them directly on the blockchain itself.
In the case is SpaceBudz, these unique tokens were linked with metadata to the artwork. It contains attributes about the Spacebudz and a link to the artwork asset that is stored on IPFS.
You can view my unique Dog Astronaut on the SpaceBudz website or purchase yours using ADA.
If you want to see the finer details on the blockchain here are some interesting links.
Explore SpaceBudz on the Cardano blockchain
- SpaceBudz350, my unique token on the Cardano blockchain.
- Unique minting hash
- Policy details, see how many tokens have been minted and where all the SpaceBudz are going and how much they have been sold for.
You Can Still Buy a SpaceBudz at Auction
If you missed out and you really want a SpaceBudz, you can buy one at Auction on the SpaceBudz Discord.
Watch the video if you're interested in learning more about SpaceBudz and how to purchase one.
Check Out Our Podcast
You can also listen to our podcast where we talk about SpaceBudz and other NFTs that are being released on the Cardano Blockchain.
FAQs about NFTs and SpaceBudz
How is the NFT bound to your name? Is it sitting in your Cardano wallet?
The SpaceBudz asset isn't bound to my name, but has been transfer to my wallet as a token. Similar to how you can create tokens on Ethereum and see them in your Ether wallet, these NFTs can be seen in your Cardano wallet. At the time of writing this, the main wallets, Daelelous and Yoroi don't support multi asset tokens but will be released soon.
How can this NFT ownership be verified?
You can verify the ownership of the NFT by viewing your wallet address on the blockchain. On Cardano explorer, you can see that the NFT exists under one of my wallet addresses.
Can you find the owner of an NFT asset?
You may not be able to find who the owner of an asset is but you can look up the NFT, in my case SpaceBudz350 under the contract policy for the token, and find what address the token is sitting under. Searching by policyName.assetName will bring up the asset on the blockchain. What you won't get is the actual person that owns the asset as wallet addresses aren't attached to an identity.
Can you resell a NFT?
Yes you can.
You can at any time transfer the ownership from person to person. Ideally, you would want to do that through the use of a contract. When a value of ADA is sent to the contract, the token will be released and sent back to that address where the ADA came from. Same way as to how the token was purchased from the SpaceBudz website. You can simply transfer the token from one wallet to another as if you were transferring ADA.
How do you transfer ownership of a Cardano NFT?
As you would transfer ADA from one wallet address to another, you can transfer an NFT from address to address. Just pay for the transfer fee and you're set!
Does the original content creator get a cut of ongoing sales?
No, not in this case. These are being minted on the blockchain as they are being purchased with ADA. Cased where NFTs are being sold and the original uploader or content creator is getting a percentage in royalties usually is controlled on an NFT marketplace such as Rarible.
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