A guide to setting up your wallet & buying NFTs on Nic et Nunc
NFTs and cryptocurrency have infiltrated the art market this past year at an accelerated pace. Entering the mainstream art world with Beeple's sale of Everydays: the First 5000 Days at Christies back in March 2021, many forward-thinking traditional collectors are now looking towards dipping their toes into the world of buying art digitally. With many different buying platforms using many different blockchains, buying an NFT can seem daunting if you are new to the world of crypto.
Here we have written a logistical guide to buying digital art on Hic et Nunc, a "clean NFT platform" running on the Tezos blockchain.
Purchase Tezos (XTZ)
First you must set up an account with a digital currency exchange platform that supports Tezos. There are many out there, but Coinbase is one of the largest for example. Here are a few others if you would like some options.
Step 1: Create your Coinbase account here.
- Make sure to have a form of identification ready to authenticate your account since this is secure, financial service.
Step 2: Connect your payment method
- You will need to connect a credit card/bank account with FIAT (non-crypto currency like £ or $) to your Coinbase account in order to purchase. From there, you can convert it into any cryptocurrency.
Step 3: Buy your Tezos (XTZ)
- Have everything set up with your Coinbase? You are ready to buy! Click on BUY/SELL in the top right corner.
- When purchasing you can either select the amount of Tez you would like to purchase or select the amount of FIAT you would like to convert into Tezos.
- For example: The Whitworth's Ancient of Days NFT costs 999 XTZ so we recommend purchasing at least 1000 XTZ in order to have enough for your transaction fees (this is due to the fact that some of your XTZ is lost when transferring it to your cryptocurrency wallet).
- The exchange rate for all crypto currencies fluctuates daily, you can check the latest exchange rate for Tezos here.
Make a Cryptocurrency wallet
Once you’ve added Tezos to your Coinbase account, it’s time to get your cryptocurrency wallet that will enable you to collect the Whitworth NFT on the Hic et Nunc platform.
Step 1: Visit https://www.hicetnunc.xyz and click ‘Sync’.
- The system will offer you several wallet options, either as browser extensions or web/desktop versions. We use Kukai for example - click on its icon and select ‘New Wallet’.
Step 2: Follow the instructions to set up your wallet.
Step 3: You can now top up your Kukai wallet with XTZ from your Coinbase account.
- Copy your Kukai wallet address (it should be a string of characters right below your account name, like tz).
- Return to your Coinbase homepage and click ‘Send / Receive’ at the top right of your screen. Here you enter the amount you want to send and paste the Kukai address we just copied into the ‘To’ recipient box. For the ‘Pay with’ field you enter the amount of ‘Tezos’ (XTZ) you wish to transfer.
Sync your wallet with Hic et Nunc
Step 1: Now that you have added your Tezos to your crypto wallet. Click ‘Sync’ again on https://www.hicetnunc.xyz in the corner and your wallet will sync automatically with the platform.
Buy your NFT!
You are now officially ready to purchase an NFT! Start exploring Hic et Nunc now.
Step 1: You can view the Whitworth's Ancient of Days NFT on Hic et Nunc here.
Step 2: Click ‘collect for X tez’, approve the transaction from your wallet, and you’ve done it!
Congratulations on your very first purchase of an NFT!