FAQs

NFTs, or Non-Fungible Tokens, are unique digital items that are revolutionising the way artists, musicians, game developers and other content creators distribute / sell content. NFTs differ from traditional blockchain / crypto coins and tokens, such as Bitcoin, because each one is unique, rare, and authentic. These characteristics make NFTs attractive to collectors. They can represent various forms of media such as Digital Artwork, Crypto Collectibles, Exclusive Music Releases, In-Game Items, and so much more.

ClubVirtual currently supports Binance Smart Chain, Polygon, and  Ethereum.

MetaMask is a decentralized digital wallet that can be used to store digital currency (cryptocurrency) and NFTs. It can be accessed through a browser extension or through a mobile/smart phone app.

If you don’t have a digital wallet, you can create a MetaMask wallet by visiting https://metamask.io/

Once you have signed into ClubVirtual by connecting your wallet. Hover over the avatar link at the top right-hand side of the web page, then click on Profile.  Complete the fields in the Profile form.  Don’t forget to include an avatar image of your choice; this will be you digital self.

You can connect to ClubVirtual using one of the following wallets:

• MetaMask Wallet (Binance Smart Chain, Polygon, Ethereum)
• Wallet Connect (Binance Smart Chain, Polygon, Ethereum)

Minting an NFT is the process of naming, describing, and then creating your NFT on one of the blockchains supported by ClubVirtual.

Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on a blockchain.  These fees are not collected or retained by ClubVirtual.

Whenever you create an NFT, you can set a certain percentage as royalty for all secondary sales in the future. The programmable royalty system is activated if someone buys your NFT and sells it to another collector. That means that as the original content creator, you receive a percentage of every subsequent sale.  Please note that whilst ClubVirtual conforms to the EIP 2981 NFT royalty standard many other NFT marketplaces do not currently conform to this standard and, as such, selling your NFT on another NFT marketplace may not result in you receiving royalty payments for subsequent sales.

Unlockable content is a URL or code, which is encrypted and stored in the smart contract. Only the current NFT owner can access and decode it.

The Physical NFTs are digital assets developed based on real-world objects; they can be anything from real estate properties, cars, physical artworks, tangible goods, etc.  Often such physical items are connected to the NFT in the form of unlockable content.

Yes, you can. In this case, you are converting these physical goods into NFTs representing a digital replica (or certificate / voucher) of the physical item with a unique identifier. By doing this, you can sell the physical assets in the NFT marketplace like digital assets.

The NFT marketplaces have various properties and benefits such as:

• Decentralized nature that safeguards the anonymity of the users
• Immutable servers that ensure and guarantee the security of the assets
• Provision of instant liquidity to the users

That is a decision for you to make. NFTs are non-fungible tokens that represent ownership of a digital artwork, unless associated with unlockable content. Generally, NFTs do not provide any intellectual property (IP) ownership rights.

No information on this website is or may be considered investment advice.  Please don’t spend money you can’t afford to lose.