NFT Platform FAQ ( Frequently Asked Questions )

On this page, you will find answers to the most popular questions of our customers. Didn’t find what you need? Just send us a request.

General

  • What is an NFT? (Non-Fungible Token)

    A non-fungible token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.​Simply put, a non-fungible token is a one-of-a-kind asset that lives online and is managed in a digital ledger.​
    The "non-fungible" part of the name means they are not mutually interchangeable and cannot be replaced or exchanged with one another.

  • How do NFTs work in general?

    Non-fungible tokens and their smart contracts allow for detailed attributes to be added, like the identity of the owner, rich metadata, or secure file links. The potent of non-fungible tokens to immutably prove digital ownership is an important progression for an increasingly digital world. They could see blockchain’s promise of trust-less security applied to the ownership or exchange of almost any asset.

  • What is the value in NFTs for Brands?

    NFTs provide many benefits and added value to marketeers, such as:
    ● It is the latest thing in tech● Appeals to younger and tech-savvy crowds● Differentiates● Provides something truly special and unique● In acknowledgement of● Creates an affiliation, a bond and an expectation for future NFT items● Creates a community● Could be used to support community foundations● Reinforces connection with a brand● Could have monetary value in time● Provides valuable information about users and clients

  • How do you claim an NFT from BLOCK.CO's platform?

    Step1: Scan a QR code or receive a link via email that will redirect you to the registration/claim page.Step2: Provide your personal details/emailStep3: Claim the NFTStep4: Transfer the NFT to your wallet (in case you have one). If not, set up your blockchain wallet address with the help of our guidelines and claim your NFTStep5: Create an account as a client of the issuer to register and claim NFTs. Alternatively, receive the NFT in your blockchain wallet address in Step 1.

  • What is the value in NFTs?

    NFTs provide many benefits and added value to products, such as:
    ● Verifiable uniqueness● Emotional attachment● Being part of the tech revolution● Imposing scarcity on non-scarce items● Performance● Turning stories into scarce assets● Reflecting on the appreciation of moments● New monetization models

  • How do the BLOCK.CO NFTs work?

    Each NFT includes a unique identification code that’s recorded on a blockchain like Ethereum. When you buy/receive an NFT, you own the underlying code and the rights to the asset. A public record of ownership is then encoded into the blockchain, which makes it indisputable. ​Someone might be able to take a screenshot of the asset, but they won’t be able to copy the actual code behind it. This is a powerful protection against fraud and counterfeits.​

  • How environmentally friendly are BLOCK.CO's NFTs?

    With Proof of Work (PoW) blockchains becoming a hot topic for discussion as far as carbon footprint and eco-friendliness go, we have chosen the Eco-Friendly blockchain scaling solution of Ethereum, Polygon. To learn more about Polygon's eco-friendliness, click here.