What is an NFT?
NFT stands for non-fungible token, this is a digital asset that can represents a real-world object. Typically NFT’s will be in the form of artwork, in game content or provide a unique utility for the owner.
NFTs are bought and sold online, frequently with cryptocurrency, and typically encoded with the same underlying software as many cryptocurrencies.
Anyone can view the individual images (Artwork of the NFT) or even the entire collection of images online for free. So why are people willing to spend large sums of money on something they could easily screenshot or download?
Because an NFT gives the buyer the opportunity to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership. As well as this in the case of The 1 Clubs NFT it provides multiple utilities for the owner including lifetime membership, portal perks, luxury goods discounts, access to the network as well as rewards at physical members clubs… its not just artwork.
How Does an NFT Work?
NFTs exist on the blockchain, which is a distributed database that records transactions. You are most likely to recognise the blockchain as the process that makes cryptocurrencies possible.
NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.
What do I need to own an NFT?
If you’re looking to start your own NFT collection, you’ll need to obtain some key items.
First, you’ll need to get a digital wallet, such as Metamask, this will let you store NFTs and cryptocurrencies in a secure environment.
You’ll need to purchase some cryptocurrency, such as Ethereum. You can buy cryptocurrency using a credit card on platforms like Coinbase, Kraken, Binance, Crypto.com and so on. You’ll then be able to move it from the exchange to your wallet of choice.
When you have your wallet set up and funded, there are multiple platforms you can use to purchase NFT’s, these are called NFT marketplaces. OpenSea is a top marketplaces to purchase NFT’s on. This peer-to-peer platform is a marketplace for “rare digital items and collectibles.” To get started, all you need to do is create an account to browse NFT collections.
How to buy The 1 Club NFT?
To establish an exclusive environment within The 1 Club, an invite-only process is in place.
You must have an invite (either by a current member or rare giveaway) in order to claim and mint your own $1CLB NFT. A current member must go to the website and select the invitation option.
You can also apply for membership via our website.
They can enter your Ethereum address and submit the form if they have the required quantity of keys needed to invite someone. This will deduct the appropriate amount from their ($1CLB holder’s) key balance, allowing you to claim your own $1CLB NFT.
Once you have been whitelisted a member of our team will be in contact with you for onboarding to the club.
You can purchase the NFT directly via our website, once your Crypto wallet has been authenticated.
Once purchased as a holder of $1CLB NFT you will be able to stake your NFT into one of three pools.
- 1 Month Locked — You will be rewarded 1 key per month and claimable anytime after each month.
- 3 Month Locked — You will be rewarded 2 keys per month and claimable anytime after each month.
- 6 Month Locked — You will be rewarded 3 keys per month and claimable anytime after each month.
Artwork teaser
We will have 11,111 variations of artwork used for our NFT’s, here is a sneak peak of what you can expect:
