FAQs for Hindustan Times NFTs
Our collection
Our collection

Frequently Asked Questions

1.Basics of NFT

  • What is an NFT?

    • With blockchain technology, Non-Fungible Tokens (NFT) verify ownership of unique digital assets such as art, music, collectibles, GIFs, videos and even a pdf. The technology enables users to claim ownership and buy and sell these assets to others

  • Why buy an NFT, can’t I just take a screenshot?

    • You can always produce duplicates of an image, a video, or any other digital asset, but you won’t be able to duplicate the NFT’s digital signature of ownership. Imagine an original “Mona Lisa” painting by Leonardo Davinci and its duplicate done by several others to best capture the distinction between an original NFT and its screenshot. Although the picture may appear to be identical, it will never be as valuable as the original.

  • What is blockchain?

    • Blockchain technology is a safe software architecture that allows data to be stored in a decentralised and secure manner.

  • How do I prove that I have ownership over the NFT?

    • You are not required to take any action. NFT’s underlying technology is responsible for verifying an NFT’s legitimacy and ownership

  • Are NFTs legal in India?

    • There are currently no legal structures in place for cryptocurrencies or NFTs. Investors must be aware of the risks involved with NFTs.

2.Buying an NFT

  • How do I buy an NFT?

    • Browse the NFT collections and choose the NFT you like. Clicking on the buy button would take you to the NFT marketplace. Complete the account creation and KYC process. Once your account is set up, you will be able to bid/purchase NFTs using credit card or UPI transaction.

  • What is a crypto wallet?

    • Like your physical wallet, which holds cash, debit cards, and other valuables. In the blockchain, your crypto wallet holds the cryptocurrencies.

  • Is a crypto wallet necessary to receive NFTs?

    • Yes. NFTs are based on blockchain technology, and in order to purchase them, transactions must be carried out on the blockchain, which necessitates the use of wallets.

3.Post Purchase

  • How will I receive my NFT?

    • We transfer the NFT to your choice crypto wallet once the transaction is completed.

  • How do I sell my NFT?

    • NFTs purchased via the marketplace can be posted and sold on the same platform.

  • Can I sell my NFTs at a higher price?

    • You can sell an NFT for any price you desire once you acquire it. We cannot, however, promise a higher price or anticipate the NFT market pricing.

  • What happens to my unused coins in the wallet?

    • According to the terms and restrictions of the crypto wallets you use, you will be able to withdraw any unused cash.