What are Non-Fungible Tokens?
Non Fungible Tokens, or NFTs, are unique and irreplaceable cryptographic tokens that represent a physical or digital asset. NFTs can represent anything ranging from art pieces, properties, achievements, trophies, unique video game items, digital IDs, or even domain names.
In contrast, fungible assets have units that are interchangeable with one another, such as bitcoin or the dollar bill.
You can now easily manage your collectibles on the Crypto.com DeFi Wallet app by going to the dedicated ‘NFTs’ screen.
Designed like a gallery, the ‘NFTs’ screen is organized into the ‘Spotlight’ and ‘Collection’ sections. You can select your favorite collectibles to spotlight at the top of the screen, and view specific NFTs as you scroll down the screen, which is grouped by collection. Tap onto an NFT to view more details about it.
Crypto.com DeFi Wallet currently supports Cronos POS Chain NFTs on the Cronos POS Chain, ERC721 and ERC1155 NFTs on the Ethereum network, as well as NFTs on Cronos Beta.
What NFT attributes can I view in Crypto.com DeFi Wallet?
Attributes at both collection and token levels can be viewed in the NFT feature.
At collection level, collection name, icon, description, total supply, the number of holders, chain name, schema type, and contract address are viewable on the collection page which can be accessed from the token detail page.
At token level, token ID and NFT will be displayed. For generative NFT collections, additional information such as traits and rarity ranking also can be viewed if available.
NFT Trait percentage is the rarity indicator of individual traits which is calculated as
Total number of NFTs with a certain trait type / Total supply
NFT Rarity ranking
Rarity ranking is calculated based on the aggregated trait rarities of each NFT in a statistical way, which means the Rarity ranking is not a fully objective measure to rank the rarity of each NFTs in the corresponding collection.
The rarity rankings across different NFT platforms and rarity ranking tools are varied since different statistical approaches are adopted nowadays. Therefore, the rarity ranking provided in the DeFi Wallet can only be used as a reference for the NFT value estimation.
In addition to the intrinsic attributes mentioned above, marketplace information that is fetched from top NFT marketplaces in the supported blockchains is also available once the corresponding NFTs are listed on those marketplaces.
For those NFTs or Collections are listed, the listed marketplaces*, floor price, trade volume, official website, social media*, NFT listing price, listing url can be viewed on both NFT and collection pages.
Currently the information from following marketplaces are supported: OpenSea for Ethereum NFTs, Crypto.com NFT Marketplace for Cronos POS Chain and EbisusBay for Cronos Beta Chain.
To receive an NFT, simply scan or copy the wallet address from the ‘NFTs’ screen, provide it to the sender, and wait for on-chain confirmation. Once confirmed on-chain, navigate to the ‘NFTs’ screen and you will see your NFT displayed
The wallet address to receive Cronos POS Chain NFTs is the same as your Cronos POS Chain token address.
The wallet address to receive ERC721 and ERC1155 NFTs is the same as your ETH/ERC-20 token address.
The wallet address to receive Cronos Beta Chain NFTs is the same as your CRC-20 token address.
To send an NFT, simply tap on the collectible, click the ‘Send’ button, and input the recipient wallet address. Sending an NFT means transferring its ownership to the recipient, so make sure to always double-check the address, ensuring it is a valid address compatible with the Cronos POS Chain NFT, Cronos Beta Chain NFT, ERC721, or ERC1155 token standard.
Note: Only one NFT can be sent each time, so the process needs to be repeated for ERC1155 NFT copies.
What is Spotlight?
Spotlight is a section dedicated to your favorite NFTs. NFTs on Spotlight will be displayed as a slideshow, where images, videos, or even music will be automatically played when you are at the ‘NFTs’ screen. To add an NFT to the Spotlight section, navigate to the specific NFT and tap onto the [Spotlight] button.
Note: The maximum number of NFTs you can add to the Spotlight section is 20.
How do I share NFT on Social Media?
Easily share NFTs with your friends or on social media using the in-app customizable template, where you can choose from different background colors to showcase your collectibles in the best light. Here are the steps to generate the custom template of your NFT:
Navigate to the NFT you would like to share
On the top left corner, tap on the [Share] icon
Review the pop-up disclaimer, then tap [Got It]
A template will be automatically generated for you, and you can switch to different background colors at the bottom of the screen
Tap onto the [Share] icon on the bottom right corner once you have chosen the right background-color
You can save the image/video on your photo album, or any supported social media on your phone
Note: The [Share] function is merely transforming your NFT to an image/video template that can be easily shared on social media. By sharing the NFT does not mean you are transferring your NFT ownership, please use the send function instead.