LAST UPDATED JULY 2023
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Web3 opens up potential in this new digital age to unlock an internet that is decentralised and puts more choice into the hands of users and fans. The Web3 infrastructure allows for the creation of communities and renewed ownership in your assets, data and digital entities, made secure by blockchain.
Web3 is a new iteration of the internet. In the simplest terms, it’s a decentralised network that puts more control of content, assets and even how communities are created in the hands of users. Blockchain allows for this world to be validated and secure, opening up new opportunities for how we interact online.
A blockchain is a vast, public ledger that validates transactions and information. It can also track and verify ownership of digital images and collectibles. Blockchains make cryptocurrencies like Bitcoin, Ethereum and Tezos possible. Many of the concepts that led to blockchains have been around for a long time, such as cryptography, linked lists and distributed ledgers. However, blockchains combine them in a way that has changed how digital transactions can be made.
Metavert digital collectibles are minted on Tezos. Tezos is a pioneering layer 1 Proof-of-Stake blockchain which has always been recognized as an energy-efficient alternative to more traditional Proof of Work blockchains. Read more on Tezos.com
A digital collectible, or a non-fungible token, is a digital certificate stored on a blockchain which is a digitally distributed, decentralised, and public ledger.
Read more here - https://tezos.com/non-fungible-token/
No. Bitcoin was the first cryptocurrency, designed as a "peer-to-peer electronic cash system". The network on which Bitcoin runs is called the Bitcoin blockchain. Now there are many different cryptocurrencies and many other blockchains - Sowvital’s digital collectibles are stored on the Tezos blockchain.
No, you cannot. However, you can resell it - please see the next FAQ.
Yes. You can resell your digital collectible on Tezos’ collectible marketplaces, such as Objkt.com.
To do this, go to e.g. Objkt.com, click "sync" in the top-right corner, and choose "Kukai Wallet". Then, use the same social account (Google, Reddit, Twitter or Facebook) you used to log into this store. To complete login, in Kukai, you will need to approve the permission request and then sign the message.
Now you are signed into the marketplace and ready to sell your digital collectible. Navigate to your profile, open one of your owned collectibles, and select the action to "List" the collectible for sale at the price you wish in Tez. For further assistance, check the marketplace's resources - for Objkt.com that would be their FAQ or on their Discord server.
See other marketplaces you can resell your digital collectible here: https://tezos.com/non-fungible-token/
Sowital’s officially licensed digital collectibles, powered by Tezos and brought to you by Tezos ecosystem companies, are a form of crypto asset. The content associated with Sowvital is governed by the terms and conditions available here. Sowvital’s digital collectibles have been issued as a collectible item and not an investment. However, it is important that you keep in mind that:
1. Sowvital are not currently regulated by the Financial Conduct Authority in the UK and are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme;
2. the value of Sowvital’s digital collectibles is variable and can go down as well as up;
3. tax may be payable on any profits made on the sale of Sowvital’s digital collectibles; and
4. For those Digital Collectibles which require purchase, the decision to purchase Sowvital’s digital collectibles requires careful thought and consideration. You should seek independent financial advice if you are in doubt. You should not purchase any crypto assets if you do not fully understand the nature of your purchase and the risks involved.
If you have questions beyond those listed above or if you need more information on any of the above, please direct your inquiries to enquiries@sowvital.com