Frequently Asked Questions About NFTs​

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What is an NFT?

 

Think of them as digital art; these works of art exist as digital files. The NFT/digital file is the only one of its kind in a secure online ledger/record, and unlike a physical artwork, will not depreciate due to physical factors. It's there forever, for you to download for personal use, and nobody can disprove that you own it, or that it's authentic.

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What's the value of owning an NFT that others can easily take a screenshot of and print out?

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If you own Van Gogh's 'Starry Night,' anybody can take a picture, print it out, and frame to display in their homes; however, if they try to sell the printout, it won't be worth anything--a poster or even an exact replica of 'Starry Night' isn't equivalent in value to the actual painting. The painting itself, however, has value incomparable to any printout, photograph, or exact reproduction of the work. It is the same with NFTs.

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How do I buy a Carlos NFT?

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When launched on Foundation (see below for what 'drop' means and what 'Foundation' is), you can purchase it using ether (ETH). Think about it as a type of currency. Pesos, dollars, and other real-world currencies can be used to purchase ETH, just as you would use real-world currencies to buy other real-world currencies (like Philippine pesos for United States dollars). You will need to own a 'wallet', like Metamask, from which you will debit the purchase.

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I display my art collection. How do I 'display' or 'use' NFTs I own?

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It is your right to display them any way you like, except for commercial use, which is not a part of the contract agreement of Carlos NFTs. Some have procured TV screens, projector screens, and the like to display NFTs. Or, maybe like many collectors, their collections are so substantial that they have to store their work. An NFT is stored online, securely, even if you don't do anything to it after you acquire it.

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What is First Mint Fund?

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First Mint Fund is a fund seeded by Narra Gallery that sponsors South East Asian artists' first mints. To 'mint' is to put an NFT onto a platform, which in turn records it on a blockchain--think of it as a permanent ledger--which costs fees to 'register' and 'maintain.' In order to encourage the creation of NFTs among SEA artists, First Mint Fund covers these minting fees. Carlos is one of the recipients of this grant.

 

  

What is Foundation?

 

Foundation is a curated, exclusive, online platform where one can buy and sell NFTs. Joining this platform as a creator is by invitation only. There are open marketplaces/platforms where an invitation is not a requirement to be able to join.

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Carlos will be minting his first NFTs on Foundation.

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What is a 'drop' and how many NFTs is Carlos dropping on Foundation?

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To 'drop' is jargon in the metaverse (which includes NFT platforms/marketplaces) which means placing the NFT in an online platform/marketplace for others to buy and view. Carlos is dropping 7 NFTs on his 72nd birthday on 2.28.22, which might make him one of the oldest, if not the oldest, NFT artist on the metaverse.

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Will Carlos be dropping more NFTs in the future?

 

Yes. In fact, turning every documented work of Carlos into an NFT produced by his estate/team or in collaboration with other artists is the blueprint for this integral part of the artist's career trajectory. It is a hefty body of work, but finite. It is the wish of the artist to have these tokens created and be an enduring aspect of his artist legacy.

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Will Carlos continue to paint?

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Yes. Painting and creating sculpture is still one of the chiefest joys of Carlos' life. He is an artist, after all--and as he always says, he will never retire.

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