FREQUENTLY ASKED QUESTIONS ABOUT nft
NFT'S FAQ
WHAT IS AN NFT?
NFT stands for Non-Fungible Token. It is a unique digital asset that represents ownership of a specific item or piece of content, such as artwork, music, videos, and more, on the blockchain.
HOW DO I PURCHASE AN NFT?
To purchase an NFT, you'll need to have a digital wallet that supports the blockchain on which the NFT is issued (on Ethereum blockchain for Remoi’s NFT Marketplace).
Once you have a wallet set up, you can add funds to it and use those funds to buy NFTs on the marketplace.
Once you have a wallet set up, you can add funds to it and use those funds to buy NFTs on the marketplace.
CAN I SELL MY NFTs ON REMOI'S MARKETPLACE?
Yes, Remoi’s marketplace allow you to list your NFTs for sale. You need to contact Remoi sending an email to info@remoi.art or filling up the dedicated form.
ARE THERE ANY FEES ASSOCIATED WITH BUYING OR SELLING NFTs?
Yes, there are typically transaction fees (also known as "gas fees") associated with buying and selling NFTs. These fees go to the blockchain network to process the transactions.
WHAT IS MINTING, AND HOW CAN I MINT MY OWN NFT?
Minting is the process of turning your digital content into an NFT. On Remoi's marketplaces, you can mint NFTs by sending your content to Remois email and asking for pubblication on market place, after it can be recorded on the blockchain throught lazy minting process.
IS MY NFT PURCHASE PROTECTED?
NFTs are secured by blockchain technology, which ensures the authenticity and ownership of your digital asset. However, it's important to conduct due diligence on the items you purchase, as the marketplace does not guarantee the value or legitimacy of the NFTs listed by sellers.
CAN I TRANSFER MY NFT TO SOMEONE ELESE?
Yes, you can transfer ownership of your NFT to another person by sending it to their digital wallet address.
WHAT ARE THE RISK ABOUT REGULATORY CHANGES?
The regulatory regimes in the areas relating to NFTs, crypto-assets, crypto-currencies and blockchain-based services may be subject to rapid legislative and regulatory change which could impact your use of the NFT Platform and/or NFTs.
Operator shall not be liable for any consequences associated with legislative and regulatory developments applicable to the use of these new technologies.
Operator shall not be liable for any consequences associated with legislative and regulatory developments applicable to the use of these new technologies.
WHAT ARE THE RISK IN TRADING NFTs?
NFTs are highly volatile assets. Their value depends on many factors. Their value is not guaranteed and can become zero. By purchasing NFTs, the user exposes itself to the risk of partial or total loss of the consideration paid for the respective NFT.
In addition, the resale or transfer of NFTs, in particular via third party marketplaces, is not guaranteed. Such resales or transfers may be subject to transaction fees (including gas fees) which vary in amount. This amount may be significant and may limit or prevent the resale or transfer of NFTs.
All transactions on NFTs are conducted through distributed ledger technology (DLT), which is an emerging technology that may involve risks such as, but not limited to, the
(a) any malfunction, vulnerability, unintended function or unexpected operation of the network may cause the user's NFTs to malfunction or operate unexpectedly or in an unintended way;
(b) the DLT network may be subject to specific weaknesses, which make them possible targets for specific cyber security threats;
(c) loss or theft of the means of access, in particular the private key to the user's digital wallet, or misuse of the digital wallet, may result in the loss of access to the user's NFTs and any function(s) related thereto;
(d) bugs or vulnerabilities in the NFTs, associated smart contracts or in their operation may result in the loss of access to the user's NFTs and any function(s) related thereto.
Any of the above may result in the NFTs becoming worthless or may temporarily or permanently prevent the user from reselling or transferring them or claiming any function(s) related to them.
These risks are to be borne by the users. Operator shall not be liable for any of these risks and any loss of value of the user's NFT and/or any functions related thereto.
The users shall be solely responsible for the secure storage of their digital wallet private keys. Operator shall not be liable for any damages related to (i) the user's digital wallet and its use or (ii) a resale of NFTs on a third party marketplace.
In addition, the resale or transfer of NFTs, in particular via third party marketplaces, is not guaranteed. Such resales or transfers may be subject to transaction fees (including gas fees) which vary in amount. This amount may be significant and may limit or prevent the resale or transfer of NFTs.
All transactions on NFTs are conducted through distributed ledger technology (DLT), which is an emerging technology that may involve risks such as, but not limited to, the
(a) any malfunction, vulnerability, unintended function or unexpected operation of the network may cause the user's NFTs to malfunction or operate unexpectedly or in an unintended way;
(b) the DLT network may be subject to specific weaknesses, which make them possible targets for specific cyber security threats;
(c) loss or theft of the means of access, in particular the private key to the user's digital wallet, or misuse of the digital wallet, may result in the loss of access to the user's NFTs and any function(s) related thereto;
(d) bugs or vulnerabilities in the NFTs, associated smart contracts or in their operation may result in the loss of access to the user's NFTs and any function(s) related thereto.
Any of the above may result in the NFTs becoming worthless or may temporarily or permanently prevent the user from reselling or transferring them or claiming any function(s) related to them.
These risks are to be borne by the users. Operator shall not be liable for any of these risks and any loss of value of the user's NFT and/or any functions related thereto.
The users shall be solely responsible for the secure storage of their digital wallet private keys. Operator shall not be liable for any damages related to (i) the user's digital wallet and its use or (ii) a resale of NFTs on a third party marketplace.
