Tezos is a Blockchain that can execute peer-to-peer transactions. And just like Ethereum, Tezos is designed to make use of smart contracts. The native cryptocurrency for this Blockchain is the Tez (XTZ).
Not all blockchains consume a lot of energy. Actually, minting an NFT on Tezos is equal to posting a Tweet. The reason is simple. Tez are not mined as the network uses a Proof-Of-Stake consensus mechanism to validate transactions on the blockchain. This type of mechanism works by selecting persons (validators) that hold the most tokens (XTZ) to validate transactions. Therefore, it consumes much less energy than the Ethereum blockchain which is built on a Proof-Of-Work mechanism leading it to use a large amount of computational energy.
Why is Tezos interesting?
Tezos blockchain has very low fees compared to Ethereum, and art NFTs are extremely accessible for anyone to buy. Collectors can purchase amazing art for as little as 1$ and artists can experiment and create on this green blockchain. The monetary barrier at entry is extremely low and this is attracting younger audiences to discover and collect art for the first time. Even Snoop Dog aka Cozomo De Medici believes that Tezos is the best blockchain for contemporary artists.
Where to collect art on Tezos?
Nowadays there are multiple marketplaces on Tezos, each having their own specificities. The first marketplace on Tezos, hicetnunc.xyz, was created by Rafael Lima. It launched in March 2021 and it immediately got a lot of attention. Nowadays hicetnunc has changed name to teia.art. You can read more about the History of hicetnunc in this article written by crcdng on Github.
Here’s a selection of four marketplaces on Tezos where you can buy and sell art:
Teia.art is great for discovering art that is not curated. Collecting on teia feels like playing some sort of game. The experience is pretty fun! This marketplace has got some interesting features such as Collaborations and it's run as a DAO (Decentralised Autonomous Organisation). For example, there's not one curator but rotating curators and different logo designers for example. Artists and collectors of the platform get to vote on several decisions such as the name of the platform and so on.
Objkt.com was originally created to run auctions. It’s also the most used marketplace on Tezos. It’s very user-friendly and it’s got several tools for artists to use such as creating Collections, splitting royalties and revenues in the smart contract, and listing NFTs that are for sale on other platforms.
Versum.xyz puts the art first and enables collectors to curate their own collections. The feed is personalized to each person's tastes.
Fxhash.xyz is the marketplace on Tezos for generative art.
How to buy Tez (XTZ)?
You can buy Tezos on crypto exchange platforms such as Coinbase or Binance for example. If you are just starting out, Coinbase is very user-friendly!
Note that when creating your profile on these platforms, you will be asked to upload some personal information such as a government ID and other documents. This is totally normal!
How to mint (buy/sell) an NFT on Tezos?
Now that you bought some Tez (XTZ), you will need a crypto wallet to buy and store your NFTs. Install a crypto wallet Create a Kukai wallet on their website https://wallet.kukai.app/
You will have two options to create your wallet:
Easy but less secure, we do not recommend: create with Google, Facebook, Twitter or Reddit
Create with a Seed phrase by clicking on New Wallet
IMPORTANT: if you choose option number 2, make sure to keep your Seed Phrase extremely secure. If you lose it, you lose everything. There is no customer support for this option.
Connect your crypto wallet to the marketplace
Once you’ve created your Kukai wallet, you will need to sync it to the marketplace. Go on teia.art or objkt.com. On the top right corner, you should be able to click on “Sync” and then a message will pop-up asking you to confirm the transaction. Go back to your Kukai wallet and sign the message. Congrats, you’re now connected to the marketplace!
Send Tez (XTZ) to Kukai wallet
The next step is sending the Tez you bought from Coinbase to your Kukai wallet.
Follow these steps:
- Copy your Tezos public address from your Kukai wallet. You will just need to click on the little copy icon. Your address should start by (tz……)
- Return to Coinbase Click on your Tezos Click Send (or the little arrow on the top right if you’re using your phone)
- Choose the amount you want to send
- Paste your Tezos address
- Click send
It can take up to a couple of minutes before you see your Tez in your Kukai wallet.
Mint your first NFTs
Congrats! If you achieved all these steps alone that's great, otherwise it’s totally fine and you’re not alone! This is all very new and it can feel overwhelming for many. If you need more guidance to install your crypto wallet and start your NFT journey just book a 1/1 session with us.
The last step is to connect to one of the marketplaces listed previously and to start collecting/creating. Make sure to join us on Discord to learn more about Web3 and NFTs!