What is the Hyprr NFT Platform?
The Hyprr NFT platform is where you can mint, buy and sell digital creations in the form of Non Fungible Tokens (NFTs). The Hyprr NFT Platform is built on powerful Blockchain technology which provides creators with a transparent creative space to capture and present their digital expressions. We want to empower emerging creators to share their creative visions in an environmentally conscious way which is accessible to everyone.
What is an NFT?
NFT stands for Non-Fungible Token. An NFT represents a unique digital asset which is verified on powerful Blockchain technology, making it irreplaceable. An NFT can be a photo, video, audio file or indeed almost anything that can be stored digitally and thought to hold value. The Blockchain validates and records information about the NFT, such as the artist and time created, introducing the concept of a unique digital work. The Hyprr Platform creates a system that gives value to collectors, allowing Creators to sell their digital artwork and build a social media following.
What is a Blockchain?
Blockchains are a type of technology which provides a decentralised ledger for tracking data. The data stored on a Blockchain is permanent and immutable which provides maximum security and data protection for our users. NFTs are one type of data that can be tracked, stored, and moved between users with the power of blockchains Hyprr is built using the Cosmos blockchain protocol. The Cosmos blockchain platform enables high transaction rates (just 7 seconds) and secure smart contract capabilities, all at very low costs ($0.01) and with minimal environmental impact. Cosmos Blockchain is validated by proof of stake meaning that it has a 99% lower carbon footprint than those which use proof of work (such as Bitcoin). Cosmos is unique as a Blockchain as it enables communication and networking with other blockchains in the ecosystem.
Are Hyprr NFTs environmentally friendly?
Yes! Hyprr is built on the Cosmos Blockchain which is validated by proof of stake meaning that it has a 99% lower carbon footprint than those which use proof of work (such as Bitcoin).
What is a smart contract?
A Smart Contract is a digital contract set in code, which is created on the blockchain. Smart contracts hold assets, such as NFTs. The assets or contracts are distributed once the transaction criterias in the blockchain have been met (successful payment for NFT purchase).
Do I have to have a Hyprr account in order to access the Hyprr NFT Platform?
Anyone can browse the Hyprr NFT Platform but you will need a Hyprr account and wallet to participate in buying or selling NFTs. For more information on creating a Hyprr profile please click here. If you already have a Hyprr account with a wallet set up, you are ready to go!
Is there an age restriction to buy and sell NFTs on the Hyprr NFT Platform?
Yes, you must be aged 18 or over in order to buy or sell NFTs on the Hyprr NFT Platform.
How do I become an NFT Creator?
If you wish to participate as a NFT creator on Hyprr, you will need to register for a Hyprr account. All NFT creators will need to be approved by Hyprr in order to Mint and list NFTs. Hyprr maintains complete discretion in selecting the artists in its NFT Platform, and makes no guarantees or promises that any artists will be approved as Creators even if Hyprr solicited the request. If approved you will be notified by email. Please note we do not guarantee a response to all requests and we will only respond to successful candidates.
How does my work become an NFT?
To make your artwork an NFT you must mint it. Minting is the process of adding your art to the blockchain and giving it a unique ID. The blockchain provides a permanent, immutable ledger of transactions and therefore, even once it has been sold it will always link to the original artist and guarantee the authenticity of the NFT.
What NFT imagery am I allowed to sell on the Hyprr NFT Platform?
The Hyprr NFT Platform is governed by the same rules as laid out in our Hyprr Content Policy which you can read here. If you have sensitive content settings turned on then this will filter through to what you can see on Hyprr NFT Platform. You can report any artwork infringing on our content policy.
What is a royalty?
A creator may choose to add a royalty of up to 35% when they mint an NFT. This means they they will receive this percentage cut of any future resales of the NFT that they created.
Can I sell multiple editions of one piece of digital artwork?
Yes, when minting your NFT you can create up to 120 editions of one piece of artwork.
What fees will I incur when selling an NFT?
As a creator you will receive 97.5% from the sale price and any royalties you set up to a maximum of 35% from future resale(s).
Where can I browse NFTs on the Hyprr Platform?
You can explore the gallery of digital artwork for sale on Hyprr by clicking the NFT icon (add icon) on either the Discover page or your Home page.
What is a drop?
A "drop" is a limited-time event, where you can purchase newly released NFTs directly from creators you like. Drops will be advertised on Hyprr so keep an eye out for them!
How do I purchase an NFT?
- Select the NFT you would like to purchase. You can find information regarding the number of editions minted and available to purchase, along with the artwork details and ownership information on this page.
- Select an edition to buy. You may notice that some editions are priced differently.
- Click "Buy for $xx" to confirm your selection.
- A "Purchase Edition" box will appear confirming the edition you have selected to purchase. Select "Pay $XX" to confirm your purchase (or you can select "cancel" to cancel your purchase).
- You will then be transferred to a Bitpay payment processor and will need to accept their cookie notification. Please note that you will need to set up a Bitpay account to proceed with this purchase (for more information on setting up a Bitpay account click here).
- Select your chosen payment wallet from the drop down list and follow the instructions to complete the payment. Please note that whilst NFTs are listed for sale in US dollars, the transaction will be processed in a cryptocurrency supported by Bitpay.
- Once your payment has completed, your purchased NFT will be found in your profile page under NFTs "Collected".
How do I set up a Bitpay wallet?
- Download and install the Bitpay app on your mobile phone or desktop at bitpay.com/wallet
- Once downloaded, open the app and press continue through the options until you get to "Start"
- Select one or more crypto currencies of your choice.
- Add encryption - this is optional but recommended for maximum security of your wallet. Choose yes or no accordingly.
- If you opt "yes" to add encryption you will need to enter passphrase and confirm it. Please remember this password or make a note of it somewhere safe. If you do not wish to add encryption confirm this choice by clicking "I'm sure".
- You will then be given the option to view your recovery key - which you will need to recover your wallet and funds should you lose your device. If you opt to view your recovery key now then make sure you write the 12 word phrase down in order and keep it somewhere safe. You will need to complete verification of your key phrase by entering the words in the correct order. Alternatively, you can opt to do this stage later by clicking "I'll do this later".
- Read and check the boxes regarding important information you should know about your new wallet and accept the terms and conditions.
- You may choose to add some funds at this stage or you can opt to "do this later".
- Once completed, you will arrive at your Bitpay wallet home page.
Where can I view NFTs I have purchased?
You can view your collection of purchased NFTs on your Hyprr profile under the NFT tab.
What are the supported currencies for purchasing an NFT?
NFTs can be purchased using a Bitpay payment processor. You may use any cryptocurrencies supported by Bitpay to make your payment. You cannot currently pay in USD or Hypes but we are working towards making these options possible in the near future.
Can I cancel or get a refund for an NFT if I change my mind?
No, unfortunately you cannot get a refund once you have purchased an NFT as transactions in the blockchain are not reversible.
Can I resell an NFT I have purchased?
Yes, Collectors have the right to sell, trade, transfer, or use their Digital Artwork, but Collectors may not make "commercial use" of the Digital Artwork. The original creator may have opted to receive royalties of up to 35% for any subsequent sales of their artwork. Please refer to our NFT policy here for more information on being a collector and what you are permitted to do with your NFT.
Where can I resell an NFT?
You can resell the NFT on Hyprr whenever you want. You can’t transfer the NFT to another chain or resell on a different platform at this time.