🎭NFT FAQs
This is a rolling list of common FAQs about the BOLT project. For more information, please visit our websites: www.bolt.global, www.boltplus.tv, and www.boltx.app
Last updated
This is a rolling list of common FAQs about the BOLT project. For more information, please visit our websites: www.bolt.global, www.boltplus.tv, and www.boltx.app
Last updated
Bolt Global is on a misson to bring the awesome benefits of web3 to anyone and everyone, regardless of their technical knowledge. This includes the exciting, if sometimes confusing, world of NFTs.
A non-fungible token is basically a unique, one-of-a-kind digital asset. It is verified on the blockchain and its metadata can never be amended or tampered with.
When you pay for an NFT, what you get is the right to transfer the token to your digital wallet - specifically, the private key of creation of the NFT to your wallet. The token proves that your copy of a digital file is the original, like owning an original painting. Just as masterpiece paintings can be copied and distributed as inexpensive posters, anyone can have a digital copy of your NFT.
Your private key is proof of ownership of the original. The content creator’s public crypto key serves as a certificate of authenticity for that particular digital artefact. This pair of the creator’s public key and the owner’s private key is primarily what determines the value of any NFT token.
The BOLT token is a fungible token and it is not unique in nature. If you trade one BOLT token for another BOLT token, you will have exactly the same thing. It is the same thing as trading one Bitcoin for another Bitcoin. A one-of-a-kind trading card (like a NFT), however, is non-fungible. If you traded it for a different card, you’d have something completely different.
Your unique streamer token will be a fungible token, which will allow your viewers to trade your streamer tokens using other cryptocurrencies (such as the BOLT token)
We will work with you to plan your unique NFT drop/timed auction and co-market your unique digital asset. However, should there be no interested buyers and viewers after 48 hours, we will deem the auction as void and re-look at doing another auction at an appropriate timing.
No, not necessarily. When someone buys an NFT of your content, it means that the buyer has the right to transfer the token to their digital wallet. The token proves that your copy of a digital file is the original, like owning an original painting. Just as masterpiece paintings can be copied and distributed as inexpensive posters, anyone can have a digital copy of your NFT.
However, BOLT is in a unique space as well to arm streamers and buyers to create one-of-a-kind NFT experiences -since we have a streaming platform! This means that a particular piece of content (as a NFT) could be available for a limited time to the buyer's selected friends/family exclusively on BOLT+. The possibilities of creativity and financial freedom could be endless. We are providing a way for buyers and streamers to work together to create unique experiences to achieve creative and financial freedom.
Yes, of course you can. Creativity has no limits. We will also share best practices to ensure that your NFT auction will be as successful as possible. Remember to consider the rarity, exclusivity, and relatability of the NFT you want to issue and auction off to the highest bidder!
We offer all-in NFT support, including technical support, onboarding, and creative campaign planning to ensure that your NFT issuance, auction, and utilisation will be a success.
Our advantage is also in having an integrated ecosystem where we have our own financial engine ecosystem (BOLT X wallet feature on iOS, Android) as well as our own liquidity protocol/marketplace through boltx.finance.
Layered on top of this ecosystem is the ability for NFTs to not just be owned, but be used across the breadth of the BOLT ecosystem (e.g. BOLT+, our streaming service) as well as our partner ecosystem/distributor network.
There is a good case for not just the ownership of such unique digital assets, but also tracking provenance and ensuring fair and transparent payouts for creators of the NFTs. In short, NFTs present a unique (and relatively new) revenue opportunity for users, streamers, and brands.
Monetise the value of your creations and the intellectual property that you develop by tokenising your effort in the form of NFTs. Give your fan base the opportunity to show how much they value your creations.
NFTs are great for artists to ensure provenance and traceability for royalty payments, executed via a smart contract
potentially allowing the owner of the NFT to stream exclusively on BOLT+ (to increase desirability and rarity factor)
We offer our partners a variety of choices to mint their one-of-a-kind NFT on Ethereum (ETH) and Zilliqa (ZIL).
Absolutely! Feel free to book in a timeslot here.
