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what’s an NFT?

An NFT (or non-fungible token) are unique digital tokens stored securely on a blockchain. An NFT represents exclusive ownership of digital files like .jpg images. Artists create and mint these tokens, offering collectors one-of-a-kind digital assets. NFTs also serve as proof of ownership for digital artworks and other valuable items.

what’s a blockchain?

A blockchain is a software platform that allows users to transfer data across a computer network, like the internet. The benefit is that blockchains are more secure, publicly verifiable and decentralized, meaning that no central entity control’s the data on the network.

what does minting mean?

Minting is the term we use to describe the creation and lodging of an NFT on a blockchain. It is taken from the practice of ‘minting’ gold bullion or coins, but for digital currencies instead.

what blockchain will Bitmap NFT’s be minted on?

Bitmap NFT projects will be minted on the Cardano blockchain.

what’s a FamLab?

FamLab is the name we’ve given to our collab of artists, who are working together to launch NFT projects with like-minded creators.

why Cardano?

Cardano is a Blockchain 3.0 platform, which aims to make decentralised digital assets more widely avalable to global users. With Cardano, CNFTs thrive as a prominent feature, and we’re just scratching the surface of mass adoption!

what are CNFT’s?

CNFT’s are short for Cardano NFT’s, non-fungible tokens stored on the Cardano blockchain.

how do we purchase Bitmap NFT’s?

Bitmap NFTs will be available on second-hand marketplaces such as jpg.store. Simply follow the instructions to set-up an account. On some occasions, small groups of purchases may be conducted through Bitmap NFT socials, depending on the number of NFTs being distributed.

how do we know we’re buying an original NFT?

Good question! You’ll need to check the NFT’s Policy ID: a unique code that verifies that the NFT is from the original creator. If the Policy ID is different from those displayed on our media channels, than you’ll likely be receiving a fake. (Make sure you’re buying the original!)

where do we find the policy ID’s for Bitmap NFT?

You can find each projects Policy ID on this websites Home page, under each project heading. You can also find them on our #policy-id Discord channel and in the bio of most of our project Twitter accounts. For extra security, you can cross-check Policy ID’s across our media channels.

how do we store CNFT’s?

You will need to download a Cardano wallet such as Eternl, Adalite or Nami. Ensure you access the legitimate website prior to downloading, and follow the instructions. Only send ADA from your personal wallet and not from crypto exchanges, as the NFT will be sent to the exchange and not to you!

when are Bitmap NFT’s minted?

We aim mint NFT’s just prior to sale.

when will Bitmap NFT’s be dropped?

Since we release a rolling slate of NFT projects over time, drop times will differ. A Drop Schedule including times for upcoming drops, pricing, distribution and purchase location will be added to the Drops page and advertised on social media channels as we go. We aim to finalise Drop Schedules for each financial quarter as per our Roadmap.

how many Bitmap NFT’s be distributed?

Each project consists of different NFT distributions: rare releases (1-10 works), limited releases (10-100 works), small releases (100-1000 works) and large releases (1000+ NFT’s). Some projects will be sold in a single drop while others may be staggered over multiple drops. This will be explained in the Drop Schedule.

how much will Bitmap NFT’s cost?

Pricing will also differ per project and per distribution sizes. For example, rare releases (1-10 NFT’s) will cost higher because of the lower number of NFT’s distributed, while larger releases (1000+ NFT’s) will generally cost lower. These prices will be clarified on the Drop Schedule.

what are the rarities for Bitmap NFT’s?

These will differ per project and further information will be provided in the Drops schedule, where a general guide to our project rarities will also be included.

will Bitmap NFT sales be randomised?

Since we will be selling work on existing marketplaces, buyers will be free to select works from our newly dropped collections. In this case, some rarity charts may be unlocked after sales. However, if we are distributing NFT’s to buyers manually, then we can select NFT’s using random number generation.

will Bitmap NFT use a whitelist?

We will run a first-followed-first served whitelist on our social accounts: Threads and Twitter mostly.

will Bitmap NFT be doing giveaways?

Yes, we will be offering NFT giveaways to our community via socials.

how will we know that these giveaways are legit?

We will only advertise giveaways on our established channels and accounts. You can find our Twitter accounts linked on our Home page, under each project heading. We will never approach you in DM’s with offers. Be sure to double check that communications are coming from our established channels.

what are NFT royalties?

Royalties are a percentage of an artwork’s sale that goes back to the artist each time their artwork is resold. Royalties are commonplace in the artworld, entertainment industry and in competing NFT markets. NFT’s enable the automation of royalty payments through the use of smart contracts.

why royalties?

In the artworld, galleries tend to charge sales commissions of 20-50% for the successful sale of an artists work. NFT’s have levelled the playing field for artists to avoid predatory commission fees. This is part of the reason for the explosion of NFT’s, along with the ease of liquidity with digital assets on the blockchain. Royalties provide artists the opportunity to build sustainable creative careers.

will Bitmap NFT use royalties?

Yes.

what will Bitmap NFT’s royalties be?

Considering the royalties on existing NFT markets such as OpenSea, Rarible or Nifty Gateway, artists generally set royalties at 10-15% for limited edition work and below 5% for larger (5k +) collections. Since most Bitmap NFT projects are limited edition releases, we will be generally setting our royalties at 10% for rare, limited and small releases and 5% for large releases (reviewed after each quarter). This will provide a sustainable income stream for future project growth, while providing collectors enough leeway to generate asset equity over time.