1. What are NFTs?
NFTs, short for Non-Fungible Tokens, are blockchain-based units of data that act as electronic proof of ownership of virtual goods. Unlike "fungible" assets such as bitcoin and dollar bills, NFTs are unique, indivisible, and irreplaceable digital assets. Hence, they are often used to identify the ownership of digital assets such as digital paintings, artwork, recordings, videos, virtual property, etc. The typical characteristics of NFT are uniqueness and scarcity. For example, in 2017, for the popular crypto cats on Ethereum, each cat corresponds to an NFT token on the blockchain and is identified with a unique ID and gene. Combining cats with different genes would create new NFT cats.
2. What is the value of NFT?
The value of NFT does not prevent others from inspecting it or reading it. NFT does not capture information and then hide it, it captures the information and discovers the relationship and value of the information with all other information on the chain.
At the same time, NFT can be bound to commodities in the real world. In other words, it is actually a digital asset issued on the blockchain, and this asset can be real estate certificates, contract documents, digital artwork, tickets, etc., with the characteristics of unique and nonreproducible. Since NFT is easy to collect and trade, crypto artists can use NFT to create unique digital artworks.
3. How to transfer NFTs on WhaleFin?
- Log in to your WhaleFin account, and click on [Me] - [My NFT] - [Send NFT];
- Select the NFT that you wish to transfer and the corresponding protocol;
- Input the recipient’s address by entering it, pasting it, or scanning the QR code;
- Enter the transfer amount, click on [Transfer], and enter the [Verification Code] after receiving a verification email/SMS from WhaleFin; if you have enabled Google Authenticator, please also enter your [Google Authenticator Code];
- Click on [Transfer] to submit your transfer request.
4. How to receive NFTs on WhaleFin?
NFT deposit and transfer are available on WhaleFin.
- Log in to your WhaleFin account, and click on [Me] - [My NFT] - [Receive NFT] to select the corresponding NFT project and get the deposit address for NFT deposit;
- Share your email/phone number that you use to register with WhaleFin to your friends, so that you can receive the NFT transferred from friends.