Singular NFT Marketplace, developed by the RMRK team, is a pioneering platform for buying, selling, and trading both regular and advanced NFTs. Singular offers users a seamless experience by combining robust blockchain technology with user-friendly interfaces. The Singular Learn portal provides extensive educational resources, catering to both beginners and seasoned users in the NFT and Web3 space.
Singular NFT Marketplace Guide
Below we will delve into topics ranging from basic NFT concepts to advanced subjects like Modular NFTs and Soulbound NFTs. Additionally, it covers essential aspects of blockchain technology, including cryptocurrencies, crypto wallets, and safe navigation within the Web3 ecosystem.
Getting Started with Singular
Setting Up a Crypto Wallet
To interact with the Singular marketplace, users need a crypto wallet. Singular recommends self-custody wallets like Metamask, Trust Wallet, SubWallet, and Talisman for their compatibility with NFTs and emphasis on user control. Detailed guides on setting up these wallets and best practices for securing private keys are available on the platform.
Connecting to Blockchain Networks
Singular supports various blockchain networks, including Moonbeam, Ethereum, and Polygon. Users can easily connect their wallets to these networks via Chainlist, simplifying the addition of blockchain networks to crypto wallets.
Profile Setup and Verification
Setting Up Your Profile
Singular uses Ethereum Name Service (ENS) to maintain decentralized profiles. Users can register and manage their ENS names directly on Singular, ensuring their profiles are consistent across various platforms. This process includes setting up a profile photo, adding personal information, and ensuring all details are correctly linked to the user’s wallet.
Verifying Your Collection
To request verification for an NFT collection on Singular, users need to create a collection with at least five unique NFTs, set up a profile with an ENS domain, and maintain a wallet with 10 RMRK tokens. Verified collections benefit from increased visibility and credibility, enhancing trust and engagement within the marketplace.
Understanding Modular NFTs
Modular NFTs, or NFTs 2.0, represent the next generation of NFTs, offering extensibility, upgradability, and dynamic interactions. Singular’s Modular NFTs are built on several innovative standards:
- Nestable: NFTs can own and be owned by other NFTs, creating complex hierarchies and relationships.
- Equippable: NFTs can be equipped with other NFTs, enhancing their functionality and value.
- Multi-asset: NFTs can have multiple outputs, such as images, audio, and documents, which adapt to different platforms.
- Soulbound: NFTs that are permanently bound to an account or another NFT, making them non-transferable.
Applications of Modular NFTs
Art
Modular NFTs allow artists to create interactive, multi-layered digital galleries and collaborative pieces that change based on user interaction, enhancing engagement and value.
Gaming
In gaming, Modular NFTs enable players to manage complex inventories, enhance characters with equippable items, and maintain a persistent identity across different platforms. Soulbound NFTs can represent player achievements and reputation, adding depth to the gaming experience.
Business
Businesses can use Modular NFTs for real estate representation, branded collectibles, and supply chain management. These NFTs ensure transparency, authenticity, and efficient management of digital and physical assets.
Community and Governance
Modular NFTs support decentralized governance by representing voting rights and reputations within DAOs. They facilitate transparent, secure decision-making processes and community engagement.
Museums and Public Goods
Museums can use Modular NFTs for digital preservation, interactive exhibits, and crowdfunding. Public goods projects and charities can tokenize their efforts, providing donors with unique, trackable digital assets.
What is Singular and how does it work?
Singular is a Modular NFT marketplace that allows users to buy, sell, and trade both regular and advanced NFTs. Users can create or connect a wallet, browse digital items, and securely conduct transactions using blockchain technology.
What are NFTs and why are they valuable?
NFTs (Non-Fungible Tokens) are unique digital items representing ownership of a specific item or piece of content. They are valuable because they provide proof of ownership, scarcity, and authenticity. NFTs can represent anything from digital art to virtual real estate, and their value can increase based on demand and perceived importance.
What is the difference between NFT 1.0 and Modular NFTs?
NFT 1.0 refers to the first generation of NFTs, focusing on single digital items. Modular NFTs expand on this concept by offering advanced features such as:
- Multi-Asset NFTs: Hold multiple assets within one token, offering more value and versatility.
- Nestable NFTs: Can own and be owned by other NFTs, creating complex hierarchies.
- Equippable NFTs: Can interact with other NFTs based on specified rules, enabling unique combinations and interactions.
- Soulbound NFTs: Permanently bound to another NFT or an account, making them non-transferable.
These innovations provide greater utility and creative possibilities, making NFTs more adaptable and functional across various applications and industries.
What types of digital items can I find on Singular?
Singular offers a wide range of digital items, including art, collectibles, gaming items, and virtual real estate. These assets can be basic NFTs or advanced Modular NFTs, such as Multi-Asset, Equippable, Soulbound, or Nested NFTs.
How do I create and mint NFTs on Singular?
To create and mint NFTs on Singular:
- Connect your wallet (or create one if needed).
- Click the “Create” button at the top right of the screen.
- Create a collection, select the network and NFT type.
- Upload your NFT asset, fill in the metadata, and click “Create.”
- Sign the necessary transactions using your connected wallet to complete the minting process.
How do I buy, sell, or trade NFTs on Singular?
To buy, sell, or trade NFTs on Singular:
- Connect a compatible cryptocurrency wallet.
- Browse the marketplace to find the NFTs you’re interested in.
- Follow the prompts to complete your transaction.
- To sell, list your NFTs for sale on the platform and set your desired price or auction terms.
What are the fees associated with using Singular?
- Minting fee: Currently waived as an early-adopter benefit, but will be applied in the future.
- Service fee: 3.5% in native currency or 1.95% if using xcRMRK.
- GBM auction fee: 2% when using the GBM auction feature.
What payment methods are accepted on Singular?
Singular accepts cryptocurrency payments facilitated by crypto wallets. Supported cryptocurrencies depend on the network. Currently, Singular accepts GLMR and xcRMRK on the Moonbeam Network. As new networks are added, their native cryptocurrencies or tokens will become available.
What is the GBM auction?
The GBM auction is an incentivized bidding system where bidders receive financial compensation when outbid. Participants either win the auction or leave with more money than they started with. Learn more about the GBM auction on Singular’s platform.
How do I create an account on Singular?
Singular is a Web3 product, meaning there are no traditional accounts. Instead, users connect via cryptocurrency wallets like Metamask, Talisman wallet, or similar.
What wallets are supported on Singular?
Singular currently supports Talisman, WalletConnect, and MetaMask wallets for connecting, minting, and trading NFTs. More wallet options are being integrated to enhance user experience.
What cryptocurrencies can I use to buy and sell NFTs on Singular?
Currently, Singular operates on the Moonbeam Network, allowing transactions with GLMR and xcRMRK tokens. As the platform expands to other networks, additional cryptocurrencies will be supported.
Can I use my NFTs from Singular on other platforms, games, or metaverse environments?
Yes, all NFTs on Singular are designed to be cross-platform compatible, allowing use in various platforms, games, or metaverse environments. This compatibility is due to RMRK’s versatile and forward-compatible NFT standards.
- Related Token/s: RMRK