*No Question Is Too Trivial! Bliv's FAQs Section Will Set You Straight! 💪
***We believe empowering our users with knowledge and understanding is the key to building trust and confidence in our platform. Our goal is to provide a seamless and enjoyable user experience, which starts with ensuring users have access to all the information they need. We hope to build lasting relationships with our users and become the go-to platform for NFT-based financial products by serving our customers with top-notch education and support.
1) What is a Non-Fungible Token (NFT)? NFTs can be thought of as digital passes that represent ownership of a one-of-a-kind digital item, such as a video, song, in-game object, or work of art. The blockchain is where these digital passes are stored (an immutable digital ledger). Once an NFT is created or "minted," its code is permanently woven into the blockchain, and it can be traded on a marketplace with a digital currency (cryptocurrency) - ETH, SOL, and so on.
2) What is the difference between an NFT and a Cryptocurrency? NFTs and crypto are similar in that they both use blockchain technology and cryptography. But that's where the resemblance ends. Physical cash and popular cryptocurrencies, such as Bitcoin and Ethereum, are both 'fungible.' They can, in other words, be traded or exchanged for one another. However, NFTs are 'Non-Fungible,’ meaning ****they are unique and cannot be replaced with anything else. One NFT is not the same as another.
3) What is the difference between a Blue-Chip NFT and a Regular NFT? Blue-chip NFTs are considered the most valuable and highly sought-after NFTs on the market, typically released by well-known artists or brands. These NFTs tend to have high scarcity, demand, volume, and a community that actively contributes to the project’s long-term success and roadmap. Meanwhile, regular NFTs may not be as scarce, in demand, or in volume and may become a rug-pull (scam).
4) What is Bliv.Club?
BLIV is a Web3 fintech company dedicated to democratizing access to Blue-Chip NFTs for the average individual by building a suite of innovative products around non-fungible tokens (NFTs), starting with our first product - SuperNova(SVN).
5) What is a Derivative?
A derivative is a financial instrument whose value is determined by one or more underlying assets, such as stocks, bonds, commodities, currencies, interest rates, or market indexes. Derivatives enable investors to speculate on underlying asset price movements or hedge against potential price movements.
6) What is a Perpetual?
Perpetuals are a type of derivative contract that allow traders to speculate on the future price of an underlying asset with no expiration date. They are similar to traditional futures contracts, but do not have a fixed expiration date. Instead, they use a mechanism called "funding" to keep the contract's price in line with the spot price of the underlying asset.
7) What is NFT Perpetual?
NFT perpetual, like traditional contracts, allows traders to speculate on the underlying asset's price without owning it. NFT perpetual will enable investors to speculate on non-fungible token derivatives without owning them. They also facilitate traders to leverage their positions, allowing them to trade with a larger size than they would be able to with just their own money.
8) What is the Floor Price of an NFT?
Floor price in the NFT industry refers to the minimum price at which an NFT can be sold. The floor price is usually determined based on the demand for the NFT, the perceived value of the NFT, and the costs associated with creating and selling the NFT.
9) What is SuperNova?
SuperNova is the name of the tradable index, which is an assorted basket of five blue-chip NFT collections - BAYC(Bored Ape Yacht Club), MAYC(Mutant Ape Yacht Club), Azuki, CloneX, and Doodles, all of which are calculated based on the geometric mean of the floor prices of these 5 blue-chip projects
10) How do I use SuperNova?
You can use SuperNova by creating an account with your email address or connecting your Polygon wallet. From there, you can browse and trade SuperNova on the exchange.