A guide on How to get into NFTs on Algorand
For some time now a technology called Non-Fungible Tokens has been storming the media. You might recognize NFTs as pictures of weird monkeys, but on the technical side they can be much more significant. Unlike fungible tokens (like $Aegir or $Algo) you cannot divide NFTs. In most cases there is also limited amount of them, chosen by creators to make them rare. These features make NFTs a great substitute for tickets, proof of ownerships or digital equivalent of collector cards.
Okay, so let’s get to the gist! How to get your first NFT.
Set up a wallet
(Skip this step if you already have one)
To take action in the cryptocurrency world you need a wallet address. This mix of letters and numbers works like a bank account and allows you to send and receive transactions. Costs of transactions differ between the blockchains, but on Algorand this price is reduced to less than one cent (USD).
There are a few wallets available on Algorand right now. Let’s pick Pera Algo Wallet, as we can buy $Algo directly from it and also view our NFTs there. To download it, simply visit App Store or Play Store and click “Install”.
After installation process you should be welcomed with this screen. If you don’t have your own account yet, click the “I want to create an account” text.
Now for the most important part in the wallet creation. You will be presented with a set of words. It is your passphrase. This passphrase is necessary to access your Algorand address on any new device and wallet. Be sure to write those words down and store them in a secure place. Losing them is as dangerous as losing your bank’s login data.
If you read this then great job! You can now buy $Algo via MoonPay without leaving the wallet. To comfortably choose between different NFTs connected to Aegir Tactics we recommend having at least 150 $Algo in your wallet. If you click on the icon next to the settings the Collectibles tab will open. That’s where you will find all of your NFT’s!
Find an NFT
Let’s head to the nftexplorer.app site, where you can compare different NFT marketplaces in terms of price. It is a great website to get the best deals for NFTs you want to get. It also contains all additional data about the sales, like total volume or floor price of the collection.
There are 15 characters to choose from in Aegir Tactics, all with the same rarity and use case. The difference in prices is caused just by people’s liking of these characters. Let’s settle on Jargal — our sociable Marauder!
Great! After clicking on him, we can see all the listings of our Legend. Let’s pick the cheapest one, as it doesn’t affect the NFT utility and helps us save some $Algo.
We are almost there! We got moved to the algoxnft.com site. Now we only have to connect our wallet one more time to make the transaction.
Connect your Pera wallet
If you use ALGOxNFT you can just connect to your Pera wallet, by scanning the QR code with the use of the app.
Optional (Setup your MyAlgo wallet)
If you plan to use other marketplaces which do not support Pera yet it helps to have a MyAlgo wallet setup. To do that, we need to make one extra step. Let’s head to the https://wallet.myalgo.com/new-account site, where we can get access to another Algorand wallet. MyAlgoWallet is commonly used on many Algorand related sites, as you don’t have to download it on your computer or install as a browser extension to use it. Start by creating a password.
After that just import the same 25 word phrase you got while registering on Pera Algo Wallet and you are done!
Buy the NFT
Now we just have to click buy and confirm the transaction either in Pera or MyAlgo Wallet!
And there you have it. You can put your freshly bought legend to use by visiting our discord: https://discord.gg/FfAvSwK4 or official website: https://www.aegirtactics.com/ to complete quests and dungeon fights.
About the Author
Fafi is a community manager at Aegir Tactics. He loves music and blockchain. You can follow him on medium Fafi or twitter https://twitter.com/Fafloxominator