Hey guys xxxx
Hope you’re good!
Still wondering what the hell an NFT is and want to know more about our project? We’re listening and we’ve created a digestible Q&A which addresses what was submitted on Instagram.
Hopefully the below answers most of the questions that you have on our very first NFT drop. I’m pretty excited to enter this space so thanks for taking the time to read, love you x
When do they go live?
Saturday 28th May on Nifty Gateway
Times
’Women’ collection - 10PM (BST)
’Sophie’ Open Edition artwork - 10:30PM - 11PM (BST)
Make sure you are subscribed to our newsletter to receive the link as soon as it goes live!.
How many are you releasing?
I’ll be releasing two seperate NFT projects, with four artworks in total.
NFT 1: ‘SOPHIE’ - A SINGLE OPEN EDITION ARTWORK
The ‘Sophie’ Artwork will only be available to purchase for a limited time of 30 minutes. If you manage to secure edition #1 to #9 of the ‘Sophie’ open edition, you will receive a unique, hand finished, physical 1/1 Sophie Tea print So be quick for the extra goodies!! Below you can listen to the story behind this artwork! Enjoy xxx
NFT 2: ‘WOMEN’ - 3 SEPARATE ARTWORKS WITH 10 EDITIONS EACH
The ‘Women’ Artworks are a First Come First Served drop (FCFS) and will consist of 3 separate NFTs. There will be 10 editions of each artwork bringing the total number available to 30.
Scroll down to the bottom of the page to see the full videos!
How much are they?
’SOPHIE’ Open Edition - $199 each (USD)
’WOMEN’ Limited Edition - $299 each (USD)
It is important to be that this pricing remains accessible for my first NFT.
What does NFT stand for?
Non-Fungible Token.
What is it?
So the official answer is ‘An NFT is a digital token which is built on blockchain technology. They are used to uniquely identify assets. That can be a digital asset such as a video or an image, OR a real-world asset such as a painting, house or car.’ The way I see it in my basic bitch terms is a way of authenticating that something actually exists and it is the real deal.
Who actually is buying NFTs?
The NFT market is rapidly growing and buyers include: fans, celebrities, collectors, investors, and flippers. At the moment, the NFT space is quite male dominated. As my following is 80% female, I’d love to play a part in encouraging more women to confidently be a part of the NFT conversation.
Why should I invest in one and what’s the point?
So, people see the different values in NFTs and have varying reasons to invest. I’ll bullet point the main ones below:
To display the digital art on their screens or specialist NFT display units around their home
To make a profit when on-selling the piece in the secondary market
Be part of an online community with your fave artist/brand
Bragging rights, similar to when one would purchase a luxury or rare item to show off haha just wanted to be honest here as this seems to be a big reason
For it’s utility (an additional asset that comes with the purchase of an NFT). To be blunt, my NFT has no official utility at present. I wanted the focus to be on the artwork and the story.
Collectability, coz you know this is just the first!!!!!
Because you believe in the artist’s vision and love the artwork. This is really the one i’m aiming for, and always have done throughout my physical work too
Can’t someone just screenshot or screen record it and have it?!
Great question, and yes, 100% anyone can screen record it, just like anyone can screenshot my original artwork and then sell it on (it’s happened!! haha i was shook too!) However what makes the NFT valuable is the traceability and ownership.
The traceability means the owner of the NFT is linked and can to be authenticated by the blockchain that they own the original piece. For example you could take a picture of a Sophie Tea original, however this would not make you the rightful owner of the piece. NFT enables transparent and trackable ownership. Whenever an NFT gets transferred to someone else, it is recorded on the blockchain. And this record is completely accessible to anyone.
Why do artists sell NFTs?
There are huge benefits for artists in the NFT space, it allows creators to reach new buyers and explore different mediums.
Which platform are you using and why?
Nifty Gateway coz they are the boujiest and one of the leading online NFT marketplaces. To be honest with you, the fact that I’ve been approved by Nifty Gateway as an artist is such a big achievement for me. ALSO, as it’s my first time in the NFT space it needed to be an easy process for my collectors. It’s super user-friendly and also safe and secure so boom, no brainer!
Which blockchain does Nifty Gateway use?
Nifty Gateway uses the Ethereum blockchain to host its NFTs. Ethereum is widely considered one of the most secure blockchain platform options.
Do I need Ethereum to buy your NFT?
You don’t need Ethereum to purchase but you can if you prefer to! There are a few ways to purchase an NFT on Nifty Gateway:
The simple way to purchase is super easy with your debit card:
1. Firstly set up a Nifty Account
Click the button to sign up/login located in the top right corner of Nifty Gateway’s landing page. You can also use the signup link here.
You will need to enter a valid email address, choose a username, enter your name, and choose a password. Then you are all set up with a Nifty Gateway account!
3. Register your credit/debit card.
4. Buy your NFT
We will send the direct link to everyone subscribed to our newsletter. Select your Sophie Tea Art NFT, click buy, enter your credit card info and hit purchase. You’re done!
Alternatively you can connect your Metamask wallet and pay with Ethereum, for information on how to do this please click here!
What currency will I be paying for the NFTs in?
If you purchase with your debit card you will pay in USD if you choose to connect your wallet you will be paying is ETH.
Will there be utility attached to the smart contract? (‘Members Only’ Perks)
There’s no utility attached to the NFTs, however if you secure edition #1 to #9 of the ‘Sophie’ open edition, you will receive a unique, hand finished, physical 1/1 Sophie Tea print. We will be exploring utilities with future releases but for now, the focus is the quality of the artwork and the concept.
Can I display my NFT? How?
Yes you can! Here are a few ways to display your NFTs:
Nifty Gateway Android App
Nifty Gateway has just launched its new display app for Android TV.
To display your Nifties, go to the Google Play Store, download the Nifty Gateway App, and connect it to your Nifty Gateway account. It takes minutes to get started.
You can broadcast your nifty to any compatible tablet or TV (android enabled) to display via the Nifty Gateway Display app. Learn more about the app here.
Downloadable High-Res File
You can download the high-resolution file of your nifty (exclusive to you, the owner) and load it onto any compatible tablet, TV, or Smart-Frame via USB, airdrop, etc.
You can access this new feature by clicking on your NFT within your profile page and selecting the hyperlink below the NFT.
Social Media
Twitter has already allowed users to connect their NFT wallets and upload their NFTs as profile pictures. Instagram seems to be following suit and has began a roll out too. We’re really excited to see platforms advance to display ownership of digital artwork online.
Where is the NFT kept after the drop?
Your NFT will sit in your Nifty Gateway Account and if you wish, you can connect your Metamask wallet to Nifty Gateway and store it in there too.
Can I resell your NFT afterwards? How?
Yes, of course you can! Firstly, you will need a Metamask account, you can set this up by downloading the app. Here’s a step by step on how to resell your NFT on the secondary market:
1) Ensure your Metamask is synced with your Nifty Gateway account. This can be done before or after you have bought your NFT on Nifty Gateway.
2) Visit your Nifty Gateway Omnibus wallet via MetaMask, and click on the Nifty you wish to sell.
3) Choose a price and tap “Put on sale.”
4) Approve the transaction to confirm the transaction. This will post your Nifties to the Nifty Gateway marketplace for selling after approval by the Nifty team.
5) After you have sold an NFT, Nifty Gateway will debit service fees and then transfer the remaining sum to your Nifty Gateway balance as USD Coin (USDC), which you can withdraw either through your bank account.
What is the environmental impact?
We completely acknowledge that blockchain technology is costly for the environment. We chose Nifty Gateway as it is one of the more eco-friendly NFT marketplaces because minting happens on chain. To read about their pledge click here.
Are you excited to launch this at Vivid Festival?
Oh my god!! I am so so excited to launch at Vivid Festival. I really wanted to create an immersive experience to compliment the NFT’s so you’ll have to keep your eye out on instagram for updates!
Thank you so much for joining me on this digital journey and I can’t wait to show you the behind the scenes of the event tomorrow. Make sure to keep updated on my stories and enjoy the full NFTs of my entire collection below!
If you have any more questions please do just send us an email: studio@sophieteaart.com
