Guide to Buying NFTs on Hic et Nunc
Collecting art is like falling down a rabbit hole of excitement and inspiration. New markets offer anyone to become a collector at an affordable price point. All you need is a couple of hops. Let this little outline guide you in making your collection!
Firstly, we’ll need to equip you with tez, the cryptocurrency used to buy and sell on the Tezos blockchain that Hic et Nunc is built on (it has the symbol XTZ). After you have tez, you can create a wallet that will serve to keep all your collection and enable you to transact on Hic et Nunc. Once those two steps are done, you are ready to collect from the most exciting and innovative artists in this new ecosystem! For Hic et Nuc we recommend Chrome.
To acquire tez you’ll need an account on a digital currency exchange platform. We will use one of the largest as an example - Coinbase - but any exchange that supports Tezos will work.
Step 1) Create your Coinbase account here.
Step 2) Have everything set up with your Coinbase? Now log into your account, and click on ‘BUY/SELL’ in the top right corner to pick a payment method.
In the process of adding a payment method you’ll be adding FIAT (non-crypto currency like £ or $) to your balance in your Coinbase account. From there, you can convert it into any cryptocurrency.
Step 3) The current exchange rates are approximately 1 tez = $4 USD. You can check the latest exchange for tez here. Mike Tyka’s pieces are priced 10 and 75 tez, so you may want to decide what you want to buy and then add the required balance. Bear in mind there is a Coinbase transaction fee that you can see by clicking “Preview Buy”.
Making a Tezos Wallet
Once you’ve added tez to your balance, it’s time to get your cryptocurrency wallet that will enable you to collect on Hic et Nunc.
Step 1) Visit https://www.hicetnunc.xyz and click ‘Sync’. The system will offer you several wallet options. We use Kukai as an example - click on its icon and select ‘New Wallet’.
Click on DirectAuth.
Login with Google, Facebook or Twitter credentials.
This will create a Tezos wallet. You can install the Kukai browser extension and set the remaining steps with your wallet.
Step 2) You can now top up your Kukai wallet with the tez from your Coinbase account.
To do so, copy your Kukai wallet address (it should be a string of characters right below your account name, like tz). Next, return to your Coinbase homepage and click ‘Send / Receive’ at the top right of your screen. Here you enter the amount you want to send and paste the Kukai address we just copied into the ‘To’ recipient box. For the ‘Pay with’ field you enter ‘Tezos’ (XTZ).
Time to Collect!
Now it’s finally time to head over to Hic et Nunc (yay!). Click ‘Sync’ in the corner and your wallet will sync automatically with the platform. Now click ‘collect for X tez’, approve the transaction, and you’ve done it! Congratulations on your very first purchase of an NFT!
You can check your newly acquired works by visiting ‘manage assets’ -> ‘collection’
Due Diligence ❗(This article has been updated following original Hic et Nunc closure)
Some accounts may impersonate existing artists. Here are some of the best practices to avoid purchasing fakes:
• Check artwork description for artist name or social profile, where you can see whether they shared their official Hic et Nunc page
• Check if there's a social profile to the artist on his wallet or OBJKT
• If the profile is very new, do a google or TinEye reverse search
Cover image is an aggregation of all the NFTs on Hic et Nunc created by artist Mario Klingemann, filtered by Feature Similarity. Hic et Nunc snapshot date: March 15th 2021.