FAQ
NFT? BEP-721, BEP-1155, KRC-721 and KRC.1155 tokens?
NFT stands for non-fungible tokens like BEP-721, BEP-1155, KRC-721 and KRC.1155 (a smart contract standard) tokens which are hosted on blockchain. NFTs are unique digital items such as collectibles or artworks or game items. As an artist, by tokenizing your work you both ensure that it is unique and brand it as your work. The actual ownership is blockchain-managed.
What does “minting” mean?
The process of tokenizing your work and creating an NFT (see above).
Can I create an NFT on Kephi without putting it on sale?
Yes, you can and it is up to you if you decide to sell it later or not.
Can I change the price of an already created collectible?
Absolutely, you can lower the price free of transaction costs at any time. You just need to sign the signature request via your wallet.
Can I gift or send a collectible to someone?
Yes, just go on the detail page of a collectible you own, open the “...” menu and select “transfer token”
What does “burn a token” mean?
The BEP-721, BEP-1155, KRC-721 and KRC.1155 standard does not only allow the creation of NFTs, but also includes a possibility to destroy them - i.e. burning the token.
What is “unlockable content”?
As a content creator, you can add unlockable content to your collectibles, that only becomes visible after a transfer of ownership (i.e. selling your NFT). Artists use this feature to include high resolution files, making ofs. videos, secret messages etc.
How does the royalty system work?
Whenever you create a collectible you can set a certain percentage as royalty for secondary sales. Example: You create a digital painting and sell it for 0.2 KPHI, the royalty is 10 percent. Your buyer then sells your painting at a higher price, like for 0.5 KPHI. Here, the royalty system kicks in. As the original content creator you receive 10% of that sale, being 0.05 KPHI.
I would like to suggest additional features!
You can do this here: https://suggestions.kephi.io/
Can I report an artwork or collectible?
Yes, go on the detail page of the token you want to report, click on the “...” button and select “Report”. This will let the administrators know about your concern.
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