Introduction to NFTs

What is an NFT?
An NFT – non-fungible token – is a digital asset that represents a real-world object, stored on a digital ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies, which are fungible.
What is Cardano?
Cardano is one of the biggest cryptocurrencies by market cap. It’s designed to be a next-gen evolution of the Ethereum idea — with a blockchain that’s a flexible, sustainable, and scalable platform. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. It is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods
What is ADA?
ADA (₳) is the digital currency of the Cardano blockchain. It is named after Ada Lovelace, the 19th century mathematician who is recognised as the first computer programmer.

The smallest unit of ADA is called Lovelace, with 1 ADA = 1,000,000 Lovelace
Where can I obtain ADA?
You can buy or sell ada for fiat or other cryptocurrencies using cryptocurrency exchanges. Visit coinmarketcap to view exchanges that support ADA/Cardano.
How much does it cost to mint an NFT?
Minting NFTs on Wytchspace costs 2.5 ADA for the first NFT and 0.5 ADA for all subsequent NFTs in your collection.
What is IPFS?
The InterPlanetary File System (IPFS) and is a peer-to-peer protocol designed for storing and sharing data in a distributed file system. Currently, IPFS is the main protocol used to store digital media that many NFTs represent.
When you mint NFTs with Wytchspace, we will add your digital assets to IPFS.
How can I transfer NFTs to another wallet/person?
Once you mint your NFTs you can choose to sell them or transfer them directly to another wallet (either your own or someone elses).