What is an NFT?
An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos with a built-in certificate of authenticity, enabled by blockchain technology. NFTs live on the blockchain, which is the same technology that makes cryptocurrencies such as Bitcoin and Ethereum possible.
What does ‘minting’ mean?
Minting an NFT is the process of converting digital data into digital assets stored on the blockchain. After minting, the digital asset will be stored in a distributed ledger or decentralized database and cannot be edited, modified, or deleted.
Are there fees associated with minting a Tanoti NFT?
In general, minting comes with a fee. This is commonly referred to as ‘gas fees’. The gas fee is a fee that the user must pay to offset the computing energy used by the network to process a transaction on the Ethereum blockchain. These are similar to processing fees on a credit card to transfer money to accounts. The gas fee is measured in ‘gwei’, which are minute fractions of Ether (ETH) and fluctuates based on how busy the network’s traffic is and the transaction’s complexity.
What is Ether?
Ether (ETH) is the main token on the Ethereum blockchain. As a cryptocurrency, Ether can be used as payment directly to another person or entity without the need for a centralized intermediary, such as a bank.
What is a cryptowallet?
A cryptowallet is a digital wallet that allows you to store and transact digital assets including cryptocurrencies and NFTs. To purchase Tanoti NFTs, you will need a Metamask (https://metamask.io/) wallet.
How do I buy ETH?
ETH are available for sale and trade on Digital Asset Exchanges (DAX) such as FTX, Binance, and Tokenize. For first-timers, we recommend checking out Luno. Visit www.Luno.com for details on how to register and purchase.
What is TanotiWeaverse?
“#TanotiWeaverse is Tanoti’s NFT project which was set in our efforts to ensure that the crafts production using ancestral techniques will sustain. As long as you are a Tanoti NFT Holder, we will regard you as a custodian of Sarawak’s ancestral crafts. On the roadmap are 5 different series of NFTs which pays tribute to the traditional crafts found in Sarawak. The first, Songket Series is currently minting and captures the process behind the creation of the ancient craft of Sarawak songket weaving. Subsequent NFT Series shall focus on other traditional crafts: rattan basketry, pua kumbu weaving, beadwork and keringkam embroidery.”
How do I purchase the Songket Series NFTs?
Alternatively, Songket Series NFTs are now available in Ringgit (RM) at our online shop. To purchase:
What are the utilities of the Songket Series NFTs?
For your support of this cause as holder of a Tanoti Songket NFT, you will have the benefit of :
a. Priority whitelist pre-sale announcement for our subsequent Tanoti NFT Series
b. Participation in a quarterly raffle (30 winners) for customized handwoven songket
c. Free tour of our songket weaving workshop in Kuching, Sarawak inclusive of lunch with the artisans
d. Exclusive invitation to physical events organized by Tanoti
e. Monthly 20% discount coupon to be provided for each NFT Holder in the discord, claimable on all items on our online store
“Subsequent Tanoti NFT Series shall support their corresponding crafts. Each Tanoti NFT Series holder will be eligible for the same benefits as above, save for (b), where the raffle prizes will be a custom-produced item of the respective craft.”
Are there royalties in the Songket Series NFTs?
“A royalty of 5% shall apply for the trading of the Tanoti Songket NFTs. Net proceeds from royalties paid to us shall be applied as follows:
40%: to make weaves for raffle winners
30%: awareness and capacity-building programmes for Sarawak’s craftspeople
20%: Tanoti’s administration costs
10%: Tanoti’s community charity project (which will be updated monthly on discord)”
