Marys Cats NFT
Marys Cats NFT
Sep 29, 2022 - Oct 05, 2022
Marketplace: Magic Eden Magic Eden
Blockchain: Solana Solana
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We are pleased to announce Phase One of our project, which involves creating a collection of 222 unique NFT pieces on the Solana blockchain. Our team has obtained secondary market approval and will be launching our NFT mint website soon. During this phase, we will be focusing on minting the NFTs, maintaining their price on the secondary market, and offering exciting promotions to our collectors. Additionally, we will be reaching out to institutions for donations to support our cause. In Phase Two, we will take the funds we have raised and purchase food for cats in need. We will document this process with photos and invoices, and share photos and videos of the cats we are able to help thanks to the support of our community.

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Explanation of the Key Terms

NFT Minting

NFT minting refers to the process of creating unique digital assets using blockchain technology. The process involves encoding information about the asset into a smart contract on a blockchain network. This information includes ownership rights, provenance, and other metadata. NFT minting has become a popular way for artists, musicians, and other creatives to monetize their work by selling them as one-of-a-kind digital assets. The minting process involves setting a price, determining the number of tokens to be minted, and launching them on a blockchain platform.

Blockchain

Blockchain technology is a distributed ledger system that enables secure, transparent, and decentralized transactions. The technology underpins cryptocurrencies like Bitcoin, Ethereum, and many others. Blockchain networks are made up of nodes that validate and record transactions on the network. Each block on the chain contains a set of transactions that have been verified and approved by the network. Blockchain technology has many use cases beyond cryptocurrencies, including supply chain management, digital identity verification, and voting systems.

Solana Blockchain

Solana blockchain is a high-performance blockchain platform designed for decentralized applications and marketplaces. The platform is known for its speed, scalability, and low transaction fees. Solana uses a unique consensus mechanism called Proof of History (PoH), which enables fast transaction processing and high throughput. The Solana blockchain has become popular for NFT minting due to its low transaction fees and fast transaction processing times. Many NFT marketplaces and platforms have launched on Solana, providing artists and collectors with a fast and affordable way to buy, sell, and trade NFTs. Solana's popularity in the NFT space is expected to continue to grow as more creators and collectors discover the benefits of using the platform for NFT minting and trading.

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