WAX wallet & NFT production

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Given the fact that there has been a dramatic Rise in the Market price of WAXP recently it seemed like a prime opportunity to do a tutorial on the wonderful world of WAX wallet NFTs.

Types of WAX- WAXE, WAXG, & WAXP

There are a few forms of WAX with different ledgers and features baking them.

WAXP
WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals.

To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.

What Makes WAX Unique?
WAX features a WAXP-to-Ethereum (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, which is an Ethereum-based ERC20 utility token.

Users willing to participate in WAX tokenomics need to burn their WAXP tokens in order to get WAXE through the Ethereum bridge. They will then need to stake the WAXE tokens on the Ethereum distribution contract.

WAXG is an Ethereum-based ERC-20 governance token that is distributed to WAXE stakers. The distribution is based on a set timetable and is proportionate to the percentage of the WAX Economic Activity pool. The token holders can govern the allocation and distribution of economic value on the platform as a result.

The WAX Economic Activity pool is a smart contract that accumulates a percentage of generated WAX fees and can be converted into ETH for distribution to WAXE stakers. It can also be given to WAXG token holders that decide to burn the tokens they already have.

WAXE and WAXG
WAX features a WAXP-to-Ethereum (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, which is an Ethereum-based ERC20 utility token.

Users willing to participate in WAX tokenomics need to burn their WAXP tokens in order to get WAXE through the Ethereum bridge. They will then need to stake the WAXE tokens on the Ethereum distribution contract.

WAXG is an Ethereum-based ERC-20 governance token that is distributed to WAXE stakers. The distribution is based on a set timetable and is proportionate to the percentage of the WAX Economic Activity pool. The token holders can govern the allocation and distribution of economic value on the platform as a result.

The WAX Economic Activity pool is a smart contract that accumulates a percentage of generated WAX fees and can be converted into ETH for distribution to WAXE stakers. It can also be given to WAXG token holders that decide to burn the tokens they already have.

Wax cloud wallet

Since WAXP, WAXE, & WAXG are all your standard crypto they can be stored on a Wallet including hard wallets mobile wallets ect. However there is a really useful DAPP WAX cloud wallet
https://wallet.wax.io/dashboard

This is a site that acts as cloud storage for the wax crypto and NFTs on your account or Wallet as well as offering the Bridge for burning WAXP to get WAXE or WAXG.

WAX cloud wallet also has staking options and offers a directory of WAX NFT markets games and DAPPs.

Atomic Hub
One such DAPP NFT market place is https://wax.atomichub.io/market
This is a WAX or EOS based NFT market facilitating trade and Sale of many popular NFTs including but defiantly not limited to splinterlands cards and land plots, KOGs, Garbage Pale Kids, Atari, Street Fighter, Dark country, Alien World, Rplanet, & much much more.

The most Important of these to me at first as a Hive user was Splinterlands assets which can sell at double the value easily on WAX NFT markets like.
https://wax.atomichub.io/market
However there is a small catch GAS fees are handled a bit different on WAX then what you may be use to. You use Network RAM in order to post NFTs for sale, To mint NFTs, or to trade NFTs, So how does one get Network RAM? For now I simply purchase RAM when prompted with WAXP but also simply staking WAXP will give you some network RAM

As of yet I cant find some option to donate RAM but I'm sure if not an option now it will eventually be one I hope.

Minting & Airdrop URL

As I have Quite a bit of experience with this process I may miss something obvious to me please ask if stumped in the comments.

Since joining WAX wallet a little less then a month ago I have been busy Buying selling and minting NFTs on atomic Hub. So far I have sold over $500 USD in NFTs and bought around $300 worth with my proceeds.
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Having only put 50 dollars into this which is currently staked I think I did ok, My intention was to build my account resources and transactional records as well as inventory before I minted my own NFTs.

Given My attempt at ETH NFTs on rarible completely failed this attempt with WAX NFTs was a success by my standards having sold over 150 of the NFTs I produced.

For those looking to Produce their own NFTs you will Need network RAM which can be procured via purchase with WAXP or a reward for staking WAXP.

I'm fairly new to this myself so its best if you reference these guides I dont want to give incorrect advice.


https://medium.com/@pinknetwork/guide-using-the-atomichub-nft-creator-7bd2b017224b

What is an airdrop URL?

This is what I call a airdrop URL
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The create link Function on
https://wax.atomichub.io/market
Allows you to produce a one time only claim for NFTs, I use tis function often as its a straight forward form of advertising.

Think of it as a ICO initial coin offering for your NFT line no one will buy what they have never heard of.

I attribute most of my NFT lines success to this function it builds records and a brand awareness. You can even combine multiple different NFTs to the URL claim like splinterlands cards or KOGs, This makes my NFT URLs more palatable for those that dont care for cannabis.

Spend money to make money

As I said I originally threw $50 into this project and t first I gave away my NFTs in an airdrop and for free, Combining Generosity With artificial scarcity IE a limit on the number of NFTs that can be minted from a template.

This makes your product valuable and talked about, I noticed the market has started raising the value of my NFTs due to the users selling them second hand at an increased price.

Burn burn burn

I ensured purchase of my first NFTs by attaching the sticker value of WAX to make it a deficit to sell but sold the first couple. In addition the minting I did this with was really limited and the ones that have been minted and released of the 40 total have been destroyed most likely as they are valued at double my initial price on n up market.

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Staking NFTs ?

KOGS can be staked a few different ways by either completing a colection TUBE or I stake mine Indevidualy to R planet Through NFT Hive
https://nfthive.io/
RPlanet is a blockchain game with its own NFTs that you can purchase for AETHER (earned by staking several lines of NFTs not just KOGS) These NFTs have a value in WAX and can be sold or used in game.

My NFT collection + A free Airdrop URL

My colection consists of KOGS my own NFTs a few NFTs made by https://ecency.com/@skylinebuds as well as Gold and legendary splinterlands cards.
My account NFTs the market system Estimated Value:1,915 WAX($528). all available for sale here.
https://wax.atomichub.io/explorer/account/akyqy.wam

Free NFT URL

https://wax.atomichub.io/trading/link/31733?key=5KgjEKQPaB6zQShsUm9ZXnDeLJBpYYZ9eKqjoCVmEeMRKrq9T6u

These are on a first come first serve basis and can only be claimed once the URL remains active until claimed.
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If you need a place to get lower increments of WAX then $20 or more go to Kucoin exchange
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I Add New NFTs daily you can check them out here

https://wax.atomichub.io/explorer/account/akyqy.wam

Todays Cronic Card
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(Edited)

Looks like the claim link was still available so I grabbed it. Thanks for the NFTs and it looks like everything is working out well. Was my suggestion in the past about getting verified helping your sales?

Edit: it looks like you haven't been verified. Is it hard to get to that status? I am glad that sales are working out even though you haven't

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I'm still trying to figure out the NFT (and airdrop). So, I'm playing along here. I went to your atomichub page and it asks to add you as friend. What the f does that mean? I did a quick google and didn't go very far.

Actually, I was using Presearch which may explain the lack of results. I'm already gone this far so does this mean to "add friend": That we verify each other? It a weirdly named bookmark?

TL/DR: What is it and why is it recorded on the blockchain?


Posted via weedcash.network

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