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The NFT Survival Guide

STEPN: Maximize Your Earnings and Fitness in the Web3 World

Ever heard of STEPN? It’s not your typical fitness app. Think of it as a blend of running, gaming, and crypto all in one. The idea is simple: stay active, and you’ll earn GST (Green Satoshi Token), a cryptocurrency you can actually cash out for real money. Sound too good to be true? Well, there's more to it. While the concept is pretty straightforward, how you maximize those earnings requires strategy. In this guide, I’ll take you through everything you need to know about STEPN, from the basics to advanced strategies that can help you get the most out of your sneakers and energy.

What is STEPN?

STEPN is a Web3 lifestyle app that rewards users for walking, jogging, or running. Built on the Solana blockchain, it incorporates both GameFi and SocialFi elements, allowing users to earn cryptocurrency while keeping fit. But it’s not just about exercise. The app also promotes carbon offsetting and includes user-generated Web3 content through its SocialFi features.

But here’s the kicker—what makes STEPN stand out from regular fitness apps is its move-to-earn model. With the help of NFT sneakers, you can earn crypto for staying active. So, instead of just tracking your steps for a virtual badge or pat on the back, you're rewarded with actual tokens that have value.

How Does STEPN Work?

In STEPN, users "wear" digital sneakers, represented as NFTs, and earn GST for walking, jogging, or running. You can use GST to level up your sneakers or mint new ones. But before diving into advanced strategies, let’s get the basics down.

How to Get Started with STEPN

  1. Download the STEPN app from the App Store or Google Play.
  2. Sign up with your email.
  3. Click the “Wallet” icon in the app to create a new wallet.
  4. Make sure you have enough SOL (Solana) in your wallet to purchase NFT sneakers.
  5. Buy your first sneaker and start your move-to-earn journey!

You can buy sneakers from the STEPN marketplace or through marketplaces like Magic Eden. The price of sneakers depends on factors like sneaker type and attributes, with current floor prices hovering around 1.5 SOL.

Choosing the Right Sneaker Type for Your Activity Level

In STEPN, picking the right sneaker type is essential. Your sneaker determines how much GST you can earn based on your activity level. There are four types of sneakers:

Pro Tip: If you're like me and regularly run 3-8 miles per week at a steady pace, the Jogger is the ideal sneaker. But if you like to vary your speed or do interval training, the Trainer is a versatile option.

Maximizing Your Earnings with STEPN

Now that you’ve got the basics down, let’s talk about how to maximize your earnings in STEPN. This is where the game gets interesting. Your ability to earn depends on your sneaker's attributes, Energy, and strategy.

Energy Management

Energy is the most critical factor in how much you can earn. It determines how long you can earn GST each day. Here’s how Energy works:

I currently have 3 sneakers (Jogger, Runner, and Trainer), which gives me 4 Energy per day. That translates to 20 minutes of active earning time. Want to earn more? Consider investing in additional sneakers to increase your Energy pool.

Pro Tip: Plan your workouts around Energy restore times. Energy replenishes at 25% every 6 hours, so you can spread out your activity sessions to maximize your GST earnings across the day.

Efficiency: The Key to Earning More GST

Efficiency is one of the most important attributes of your sneaker because it directly impacts how much GST you earn per Energy spent. The higher your Efficiency, the more tokens you rake in.

When I first started with STEPN, I focused on leveling up my sneakers’ Efficiency to maximize my earnings. You can do this by:

Pro Tip: Prioritize Efficiency early on to quickly accumulate GST, which you can use to repair your sneakers, level up, or mint new ones.

Durability: Keep Your Sneakers in Top Shape

Just like real-life sneakers, your NFT sneakers in STEPN wear down over time. Durability decreases as you use your sneakers, and once it drops below 50, your GST earnings take a hit. At 0 Durability, your sneakers stop earning entirely until repaired.

Here’s how Durability affects your earnings:

Pro Tip: Balance your points between Efficiency (to maximize earnings) and Resilience (to reduce repair costs and slow Durability decay). This ensures you're not spending too much on repairs and still earning optimal GST.

Advanced Strategies: Minting Scrolls, Attributes, and Long-Term Planning

What Are Minting Scrolls?

Minting Scrolls allow you to mint new sneakers, a key feature if you want to scale your STEPN experience. To mint a new sneaker, you’ll need:

You can use Minting Scrolls to grow your sneaker collection and increase your Energy, which ultimately allows you to earn more GST. However, minting comes at a cost, so plan your moves carefully.

Leveling Up Your Sneakers

Once you start earning consistently, leveling up your sneakers will unlock new features like:

Pro Tip: Invest in Efficiency first, then add points to Resilience to reduce repair costs. If you’re targeting Mystery Boxes, throw some points into Luck as well.

Game Modes: Solo, Marathon, and Background Mode

STEPN isn’t just about casual walking or running. The app also offers different modes that can keep things fresh and potentially increase your earnings:

Pro Tip: Marathon Mode is a great way to test your endurance while earning rewards. Register for marathons to add variety and increase your earning potential.

The Risks: Token Volatility and Costs

While STEPN is an exciting way to earn while staying fit, it’s not without risks. GST and GMT are volatile tokens, meaning their value can fluctuate significantly. For example, GST was once valued at $8.51, but now sits at around $0.02.

Before diving in, keep in mind:

Final Thoughts: Is STEPN Worth It?

STEPN is more than just a fitness app—it's an ecosystem where fitness meets finance. With the right strategy, you can maximize your earnings, but it requires careful planning, investment, and an understanding of how the app’s mechanics work. Whether you're casually jogging or seriously minting new sneakers, there's a lot of potential here.

That being said, the app’s long-term viability depends on the token economy and user growth. With new features like marathons and background mode, STEPN has the potential to keep users engaged and earning.

If you’re looking to stay fit, earn crypto, and explore the world of Web3, STEPN is worth checking out. Just be sure to manage your risks and plan. Message me if you need an activation code.

Ever heard of Disney Pinnacle? It's the latest app for Disney fans, but instead of a physical collectible, it takes the famous Disney pin-trading experience and takes it online...with a few caveats.

The app was created by Dapper Labs, which you might know if you've followed NFTs before. They are known for creating user-friendly NFT marketplaces like Doodles 2 and most famously NBA Top Shot.

They've teamed up with Disney this time, which on paper, which should bring us something truly magical (right?). Does it though?

Let's see what happens when Disney Pin Trading meets the world of NFTs.

Intro to Disney Pinnacle

Not familiar with NFTs or even Disney Pin Trading? Let me catch you up.

NFTs are essentially digital collectibles that have been verified as authentic through a technology called the blockchain. Let's go back to the aforementioned NBA Top Shot. This revolutionized the trading card industry by putting them on internet.

Now imagine NBA Top Shot, but instead of trading cards, you're swapping iconic Disney pins. Don't know about Disney pins? It's one of the most timeless and thriving collector ecosystems out there actually. They're a BIG deal! Just hop on eBay and you'll see what I mean. Or better yet, take a trip to a Disney park and check out the serious collectors with their binders full of pins. There are walls and entire stores at Disneyland dedicated to Pin Trading and people wear them around the park on lanyards and backpacks.

Now, I don't know about you, but I grew up being a Disney fan, and collecting pins was a big part of that. I remember decking out my lanyard with pins from Disney California Adventure specifically. Some of my first eBay purchases were Disney pins - good times!

So, why am I telling you all this? Well, because Disney Pinnacle isn't just about trading digital pins. It's about recapturing that feeling of excitement and wonder that comes with collecting something special. It's about bringing the magic of Disney right to your fingertips, wherever you are.

It has always made a lot of sense to bring Disney pins onto the blockchain. Counterfeit pins is actually a big issue, so by using Dapper Labs as a partner, they can make them authentic and immutable. Already, they've solved one BIG issue of pin trading!

For that reason, I was initially really excited about Disney Pinnacle's release. However, the question remains to be seen, does the app recreate any of the magic?

The Disney Pinnacle App

I got early access to Disney Pinnacle as I signed up for the alerts when the app was announced in November of 2023.

Signing Up for Disney Pinnacle

I gave my email and was instructed to sign up for an official invite link in their Discord. I joined the Dapper Labs Discord, found the Disney Pinnacle channel, and entered my email again.

From there, I was told to download the official Disney Pinnacle app in the Apple App Store (it's available on Android devices now too) and connect my Dapper Labs account to it.

From there, I was in the app and ready to start collecting pins!

Unfortunately, as constituted, it's rather a barebones app. There are 4 sections:

You can't currently trade on it, which is a big issue. However, as with Top Shot, I'm sure that the reseller marketplace will launch after they've established a base of users.

That dedicated base of users remains to be seen though.

Right now, some of the premium pin drops are not selling out. This does not bode well for the long term sustainability of the app. There needs to be a "market" if they ever hope of having a thriving marketplace.

Starter Pack

Much like in traditional pin trading, there is a starter pack that will get you going. With it, you'll have a base of the famous Mickey Friends...Pluto, Daisy, Minnie and Goofy...for $5.95.

To get Donald and Mickey, you will have to keep an eye on the Revolving Storefront (more on that in a bit).

Buying A Pin

Once you have your starters, you might want to start getting new pins to add to your collection. Luckily, there are always pins for sales and two ways to buy a pin currently in the Disney Pinnacle app.

First, there is a rotating set of individual pins that are constantly for sale, called the Revolving Storefront. For example, you can buy a Mickey pin for $5.95, an open edition pin for $6.95, and a gold for $13.95.

If you're feeling lucky though, you can buy a capsule. Inside the capsule is a random pin from a certain collection called Mystery Capsules. For $6.95 you get a pin that could be a wide variety of options. It even be a rare gold pin, but you pay the same price as you would for a standard pin.

Collections

Mystery Capsules and the Rotating Storefront are from current "Collections". A collection is a set of pins from a certain movie, series or type of pin. For example, there is an Alice in Wonderland collection, a Rogue One collection, and a Villains collection respectively.

There are limited runs of "collections" in the Pinnacle app. The length of the run varies by the type. So far, there are always at least 2 ongoing collections on sale. Strike quick though, once they're done selling they're gone forever! You will only be able to buy them through resale moving forward.

Collections typically run for a month, unless it's a Premium Collection. Premium collections run you $49.95 for one pin and are only available for 1 week only.

While the price is high, the limited run might make them more of a collector's item down the road. I bought a Disney Up premium pin, for example. You can learn more about that experience here.

Rarities

From what I can tell, there are 5 types of pins in Disney Pinnacle so far:

Conclusion

Despite the underwhelming app and the floundering market so far, there's some cool stuff brewing here.

Disney Pinnacle could totally shake things up with real-world redemption stations at their theme parks or other innovations like that. It's like when you can only get that special Star Wars pin from a specific spot in Downtown Disney. How cool would it be to swap pins right there in the park?

Much like how NBA Top Shot added Challenges, there could be some sort of gamification to the app too. It's all about adding that extra layer of fun and excitement.

Now, I know that Disney could very well kill this app tomorrow. If it's not selling, it's not selling. However, if it lasts, there's a good chance it'll be a good long term play. Disney collectibles might not be the hottest topic right now, but trust me, they've got staying power. Think of them as the classics of the collector's world...the "blue chips" if you will.

Sure, Disney might be going through some changes, but that's no reason to count them out yet. If anything, their venture into NFTs could be a game-changer for the brand. And hey, why wouldn't you want some of the first official Disney NFTs, if you truly believe in NFTs?

So, keep your eyes peeled and your pin collection ready. The magic of Disney Pinnacle is just getting started, and you won't want to miss out on the fun!

Looking to explore lending opportunities in the booming world of NFTs? It’s something I have my eye on in 2024. I learned throughout my time in NFTs that people love leverage. While I don’t agree (see my book, The NFT Survival Guide for more on why I don’t use debt to buy NFTs), it might be an opportunity for you.

The industry standard for NFT loans (both borrowing and lending) is NFTfi, which provides a marketplace platform for lenders to offer wETH or DAI to borrowers against their NFT collateral.

This step-by-step guide will walk you through the process of becoming a lender on NFTfi and earning interest on your assets.

Step 1: Making an Offer

To kickstart your lending journey, simply navigate to the homepage of NFTfi and click on the "Lend" button. Alternatively, you can access the "Collateral" option from the main navigation menu but again, it’s not what I would do.

Step 2: Selecting NFTs

Browse through the various collections and NFT assets available on the platform. Choose the NFT you wish to lend against and click on it for more details. Here, you want to select a collection that has NFTs that you’d be interested in owning. That’s because if the borrower defaults on the loan, you’ll be left with their NFT…so choose wisely.

Step 3: Placing an Offer

Ready to make an offer? Once you’ve found the ideal NFT you’d like to lend again, click on the "Make offer" button to initiate the process. You have the flexibility to adjust the loan terms according to your preference or stick to the borrower's desired terms.

Step 4: Granting Permission

If you're a new user making your first offer, you'll need to grant permission to access wETH (or DAI) from your wallet. This is a one-time process, ensuring a smooth experience for future transactions.

Step 5: Confirmation

Confirm the permission request in your Metamask wallet and proceed to sign the transaction. Note you’ll have to pay a gas fee for this transaction, so it might make sense to time it right using a gas tracker tool like ETH Gas Now.

Step 6: Notification Preferences

Opt to receive email notifications for offer acceptance by filling out the email field and saving your preferences. You can also monitor notifications directly on your NFTfi account if you’re not comfortable sharing your email address.

Step 7: Congratulations!

You've successfully made your first loan offer. Sit back and wait for the borrower to accept your terms. Upon acceptance, the borrower's NFT will enter an escrow smart contract, and you'll transfer the funds as agreed.

Step 8: Managing Offers

You have the flexibility to update or revoke your offer at any time until it's accepted. If the borrower repays the loan, you'll receive the funds immediately with no further action required.

Step 9: Foreclosing a Loan

In the event of borrower default, you have the option to foreclose the loan and claim the NFT collateral. Just visit the asset page and click on the "Foreclose loan" button to initiate the process.

What do you think? Will you use NFTfi to start lending out ETH? It might be a good long-term strategy if you believe in NFTs!

Are you ready to dive into the world of cryptocurrencies and NFTs? Then it's time to set up your MetaMask wallet! As a user-friendly web browser wallet, MetaMask is probably the most popular choice for managing your digital assets securely. In this step-by-step tutorial, we'll walk you through the process of creating your MetaMask wallet, so you can start storing and sending Ethereum and their NFTs with ease.

Step 1: Download MetaMask Extension

First things first, let's get MetaMask installed on your web browser. Follow these simple steps:

  1. Visit the official MetaMask website. Make sure it's the legit website and not a clone!
  2. Click on the "Download" button.
  3. Select your browser (Chrome, Firefox, Brave, Edge, or Opera).
  4. Click on the "Add to [Browser]" button to install the extension.

Step 2: Create Your Wallet

Now that you have MetaMask installed, it's time to create your wallet. I realize it can be confusing at first, but here's what you need to do:

  1. Open MetaMask by clicking on the extension icon in your browser.
  2. Click on the "Create Wallet" button.
  3. Choose a strong password for your wallet.
  4. Write down your 12-word Secret Recovery Phrase provided by MetaMask. This is crucial for restoring your wallet if needed. Remember to keep it safe and never share it with anyone.

Step 3: Confirm Your Recovery Phrase

Once you've written down your Secret Recovery Phrase, MetaMask will ask you to confirm it. This ensures that you've accurately recorded your phrase and can access your wallet if necessary.

Write it down physically and try not to store it on a phone or a computer. This could lead to problems down the road should those ever be compromised or stolen.

If you're really into security, store the recovery phrase (also called seed phrase) in two locations so that if you ever lose one or it's accidentally destroyed, you have a back up copy somewhere else!

Step 4: Understanding Your Wallet

Now, let's talk about the two key components of your MetaMask wallet:

Private Key: This is your ticket to accessing your wallet. Keep it safe and never share it with anyone. Store it offline, preferably on paper, to prevent unauthorized access. With the private key, anyone can access the contents of your wallet and actually make transactions with it!

Public Key (Wallet Address): This is the address you can share with others to receive payments in cryptocurrency. It's actually safe to share publicly and is essential for transactions in fact.

I'll admit...your public key/wallet address can look rather crazy. Luckily, you can copy your wallet address from Metamask by simply clicking it. If you're a pro, you can do one better and shorten the address by getting an ENS domain.

Step 5: Start Using Your Wallet

Congratulations! That's it. Your MetaMask wallet is now set up and ready to use. You can begin storing Ethereum and NFTs securely and start connecting your wallet to NFT marketplaces to start buying and selling NFTs.

Just remember, your wallet is specific to the type of cryptocurrency you're using, so ensure compatibility before making transactions. Metamask does NOT work for Solana NFTs. You'll have to use another wallet for that. Happy NFT trading!

Introduction

Congratulations on beginning your NFT journey! Now, as you embark on it, it's crucial to prioritize your security. The NFT world can be downright shady. Just as you learned about safety measures in personal finance, protecting your digital assets requires awareness and proactive steps. In fact, the stakes of protecting your NFTs are even more high stakes than losing your debit card. In this article, we'll delve into the realm of NFT security and equip you with essential strategies to safeguard your investments effectively so you don't lose it all on one click.

The Importance of NFT Security

In the evolving landscape of Web3 and NFTs, security remains the important aspect. Recent incidents, such as the insolvency of major exchanges (I'm looking at you FTX and SBF) and high-profile hacks, underscore the need for you to take control of their own security measures. To be honest, you should trust little, if at all.

Keep your circle tight, as they say.

Key Security Measures for NFT Owners

Luckily, keeping yourself safe in the NFT world isn't too hard. You should know a few things, and then you've covered probably 95% of the hacks that might get you.

  1. Invest in a Hard Wallet: Secure your NFTs offline by investing in a hard wallet like Trezor or Ledger. Store your keys offline! This is important. You may think it's safe to store your private key or seed phrase in the Notes app on your phone, but if that gets compromised than so does your wallet! In order to minimize the risk of unauthorized access, you'll want to have a hard wallet and keep the seed phrase written down on a piece of paper and protects your assets from potential hacks.
  2. Exercise Caution Online: Trust no one in the digital realm. The quickest way to get hung up and have your NFTs stolen is to communicate with someone you don't know. If it sounds too good to be true that's because it probably is! If they are saying they want to buy an NFT from you or interview you for a podcast and they send you a link...do NOT click it! There's a good chance it will lead to a phishing website that will get you to sign a transaction so they can drain your wallet. Avoid clicking on suspicious links and educate yourself about crypto wallets to discern credible sources from potential threats.
  3. Stay Informed: Be aware of security breaches and learn from past incidents to fortify your defenses. There can be times where a transaction you signed a while ago still has access to your wallet. You'll need to revoke the access. It's all very confusing, but knowing is half the battle. Understanding common vulnerabilities, such as phishing scams and compromised keys, can make the NFT space feel safer than it actually is.

Case Study: The Kevin Rose Hack

I'll use Kevin Rose, a prominent figure in the NFT community, as an example. He serves as a sobering reminder of the vulnerability of digital asset ownership. If it can happen to him, it can happen to anyone! Rose fell victim to a devastating hack, resulting in the loss of millions of dollars worth of NFTs, including Autoglyphs and Squiggles. You have to be aware at all times of what's at stake! For you, your wallet's worth may not be anywhere near Kevin's...but that doesn't make it any less important! Stay diligent.

Practical Tips for Enhanced Security

Conclusion

Get on it. Go invest in a hard wallet, start exercising caution online, and follow some crypto security experts on Twitter. You'll need to take security measures if you want to survive in the NFT world.

Introduction

So you want to get started with Solana NFTs, huh? While Ethereum NFTs were all the rage in years’ past, Solana NFTs have gained quite a bit of traction. In fact, they are now rivaling them in daily transaction volume.

It might be time to get that ETH off of Metamask and onto Phantom wallet, so you can start buying and selling Solana NFTs instead of Ethereum ones!

In this quick guide, I will teach you how to do exactly that. I’ll walk you through the process of transferring assets from a MetaMask wallet to a Phantom wallet.

Understanding MetaMask and Phantom Wallet

First off, it’s important to understand that MetaMask and Phantom Wallet operate on different blockchains – MetaMask on Ethereum and Phantom on Solana respectively. For that reason, don’t try to transfer your Ethereum straight into your Solana wallet, you’ll lose it forever! I repeat DO NOT transfer from Metamask and try to send to your Phantom wallet.

This guide will show you how to transition between these two wallets to make sure you convert the crypto over, without losing any other assets.

Step 1: Setting Up Your MetaMask Wallet

If you’re like me and are already into NFTs, then odds are you are setup with an Ethereum wallet, probably Metamask. If you don't already have a MetaMask wallet, follow this tutorial to create one. Once set up, ensure you have Ethereum assets ready for transfer.

Step 2: Sending Ethereum from MetaMask to Coinbase

In order to start with Solana NFTs, you must take your Ethereum and convert it into Solana. Makes sense, right?

To do this, you have to use an exchange. I use Coinbase, so I will teach how you would do it through that.

Simply navigate to your MetaMask wallet and initiate a transaction to send Ethereum to your Coinbase wallet. Copy your Coinbase Ethereum wallet address and paste it into the MetaMask send field. Double-check the address before confirming the transaction. Make especially sure you are copying the Ethereum address ONLY. You don’t want to accidentally be sending to any other wallet in Coinbase. As mentioned before, this will result in you losing all your Ethereum which we definitely don’t want!

Step 3: Converting Ethereum to Solana on Coinbase

It can take a few minutes for your Ethereum to show up on Coinbase. I can confirm that these are the longest few minutes of your life. Trust me, if you copied the address probably, it’ll show up there eventually.

Once the Ethereum transfer is complete, log in to Coinbase and convert your Ethereum to Solana in their exchange. To do this , navigate to the Ethereum wallet, select "convert," and flip it to Solana. Specify the amount you wish to convert and proceed with the transaction. Again, it will take a few minutes for it to properly update and be ready for the next transaction.

Step 4: Creating Your Solana Phantom Wallet

You are in the home stretch. Now you’ll want to create a Solana wallet. I prefer to use Phantom wallet, which is why I’ve used them as the example here. You can download one and create it here.

For more details, here is the tutorial on Phantom wallet.

Step 5: Transferring Solana from Coinbase to Phantom Wallet

You now have your Solana ready in an exchange, and your Solana wallet setup. It’s now for the final step!

Copy your Phantom wallet address and paste it into the recipient field on Coinbase. Initiate the transfer of Solana assets from Coinbase to your Phantom wallet. Again, just like you did with Ethereum, verify the address you’ve copied is the Solana address ONLY. When you’ve verified you’re sending your Solana tokens to your Solana wallet, click to complete the transaction.

Boom. You’re now ready to start trading Solana NFTs! Congratulations!

FAQs

Are Metamask and Phantom safe to use for transferring NFTs?

Metamask and Phantom are both good wallets that focus on keeping your digital assets safe. But remember, it's very important to use strong passwords and write down your seed phrase to protect your NFTs. For more tips on wallet security, see my guide here.

How long does it take to transfer NFTs with Metamask and Phantom?

It shouldn't take more than a few minutes for each transaction (depending on the network). In general, transactions on the Ethereum blockchain with Metamask can take several minutes to be confirmed, while transactions on the Solana blockchain with Phantom wallet are typically faster and can be confirmed in seconds.

That is, if Solana is up when you try to do all this! 😜

Understanding Arbitrum NFTs

Truthfully, I first bought NFTs on Arbitrum on a whim. I thought I had an interview for a marketing position there and I wanted to get familiar with their ecosystem before I chatted with them.

Spoiler: I didn’t get the job or even interview for the correct position

However, the experience of buying NFTs on a L2 was good experience for me, especially with the emergence of Base recently.

Arbitrum is a popular L2 that uses “roll-ups” to reduce gas costs and congestion on mainnet ETH…and for that reason, your eyes may have already glazed over.

But hear me out. the effectiveness of roll-ups *could* be the future of NFTs. That’s because no one wants to spend ten dollars…let alone hundreds or thousands…on gas fees. That’s what has made Solana NFTs so popular despite the network intermittently just going down…it’s quick and cheap.

As NFTs scale, this has become an important topic, and Arbitrum NFTs, much like other L2s have the advantage of having quick transactions and cheap ones too.

However, does that make them work in the long-term? I’ll dive in.

Getting Started: Buying Arbitrum NFTs

To begin, you will need an Ethereum wallet. If you do not have one, I would suggest MetaMask or Rainbow wallet.

In order to purchase an Arbitrum NFT, you'll first need to undergo a swapping process. That’s because you’ll need the Arbitrum token in order to purchase in the native currency. To do this, you’ll need to use the Arbitrum Bridge. Previously, you often had to convert to a coin like $MAGIC on Uniswap or Sushiswap if you wanted to buy a SmolBrains, for example. However, Arbitrum NFTs are now available on OpenSea and other marketplaces. This means you can keep everything in ETH after it's converted on the bridge.

Next, you'll simply need to add Arbitrum to your Metamask wallet. To do so, just click on 'add network' and input the following criteria (or OpenSea can even handle this for you):

Once that's done, return to your Ethereum Mainnet wallet and open up the bridge. Convert the total ETH you desire into Arbitrum. The bridge transaction requires 2 signatures and took me about 10 minutes in total.

It's not exactly lightning fast (it took me about 10 minutes to bridge my Ethereum), but once it's done, you just need to switch back to the Arbitrum network in Metamask... and you're all set to explore the world of Arbitrum NFTs.

I went on OpenSea and bought some ‘Government Toucans’ (see above) mostly because they were cheap and your boy loves toucans.

The most popular and historic project on Arbitrum is SmolBrains which is on a token called $MAGIC. You can swap $ARB for  $MAGIC on Uniswap or you can buy them with your bridged $ARB on OpenSea.

Smol Brains are one of the first dynamic NFTs and you’ll find that it’s revolutionary irregardless of the chain that it’s on. That means it’s certainly worth a look!

It’s up to you though now. What you buy on Arbitrum is your choice, but you’ll see that there is a thriving and cool ecosystem of NFTs already on there.

Give it a try and let me know what you think!

Introduction

An ENS domain is an essential part of your Web3 identity. Do you have one yet?

If not, fear not. I’m Biv and I’m here to help. I’ve been an NFT zealot and ENS maxi for 3 years now. In fact, of all the NFTs I’ve bought, ENS domains were amongst the first I ever made. It’s also the NFT that I’ve bought the most, so I know my way around their platform.

In this guide, I’m going to dive into the Ethereum Name Service, ENS for short. I’ll teach how to buy ENS domains and explore how it can simplify and enhance your crypto experience in Web3. They might even be a good investment for the future, which I’ll also touch upon 👀

Understanding ENS

ENS is the Ethereum Name Service. Think ICANN and DNS for Web3. It allows you to replace your long, complicated public key, with a short, easy-to-remember name instead.

Much like how traditional domain names are used to send you to a website easier than typing in the website’s IP address, ENS does the same for crypto wallets.

Think of it as a phone book, instead of a long, complicated hash, ENS will allow you to simply type in biv.eth, for example.

But unlike ICANN, ENS is run by a DAO, meaning it’s decentralized, which fits into the mold of cryptocurrency.

Already, ENS has integrated its service into big platforms like Coinbase and many others including Nike and Amazon are already securing their domain names just to be safe in the future.

Benefits of Using ENS Domains

As mentioned, ENS helps you shorten the length of wallet address. But it can also be used as a branding opportunity. This ENS domain can represent your entire Web3 brand. That’s because, not only will it be used by people to send you payments, but on different platforms, this is how you’ll appear on there!

ENS integrates with various Web3 protocols and services, including OpenSea and Coinbase. Whether it’s DeFi, NFTs, or Dapps, you’ll certainly want to have a short and snappy ENS to flex on fools there. The sooner you secure them the better.

However, if you’d prefer to stay anon, ENS is still on the decentralized web. You can grab a 10K Club digit domain and operate without anyone knowing your name or online identity. They’ll simply be able to send money to 2291.eth, for example.

How to Get Started with ENS

Registering an ENS domain is straightforward enough. You simply need a wallet and an idea. You can go to https://ens.domains/ to start looking for the domain you want.

Consider the gas which is at the top left of the screen. For domains 5 characters or longer, you will have to 0.0015 ETH per year for registration+network fees (that’s why you consider gas). 3 and 4 character domains are much more expensive so do keep that in mind as you are choosing your domain.

Once you’re ready to go, simply connect your wallet and click buy. You will prompted to confirm 2 transactions. One is claim your spot. After a brief waiting period has passed to ensure no one else is trying to register that same domain at the same time, you confirm once more and the domain is yours!

You can use essentially any wallet with ENS, including MetaMask, Rainbow, MyEtherWallet, or Coinbase Wallet. You’ll want to set your new identity as your primary domain so that it shows the rest of Web3 that you’re serious about your game.

(Keep in mind the renewal date and set a reminder to renew it so you don’t lose it later).

Best Practices for Selecting ENS Domains

If you have a domain in mind already, that’s great! Go check to see if it’s available.

However, if you’re having issues deciding, I have some recommendations for you. This is true of even traditional domains.

You want something snappy and brandable. If that’s your last name, then great. However, if you need to create an entirely new identity for yourself, then do that! Web3 is a place to be a completely new person, so it’ll be good timing.

If you’re feeling very adventurous, there are already well-established ENS communities that you might want to consider joining. You can find a few on vision.io, but here are the ones that I know already slap:

Digits

Digits are the OG ENS community. 

Some genius figured out in 2022 that ENS had its own 10K collection similar to that of CryptoPunks and the Bored Ape Yacht Club. Yes, there were 9999 numbers from 0000-9999 and they could be registered on ENS.

It sounds dumb, but the more you think about it, the more it makes sense.

2291.eth, for example, can be completely anonymous and be remembered easily. It serves the base purpose of an ENS domain. However, it also unlocks the power of community.

Yes, by having only 10K of them available (hence the 10K club), there’s an exclusivity to them. There’s also a little bit of a flex to ones that are just 3 digits (called the 999 club) because they cost a big premium.

But digit owners are able to find each other online much like Bored Ape holders are able to find each other online. It became the vogue ENS domain for a while there. They’ve fallen back down to the Earth, as the high renewal prices have made it hard for people to hold onto them long term. 

That being said, it’s still a great community to belong to as you get started with ENS. They’re a lot of smart people still involved with it.

Fandom/Pokemon ENS

Soon, another genius came along and said, there are only so many Pokemon available on ENS too. That’s where Pokemon ENS comes in. This is once again a super strong community of domain collectors. They understood too that Pokemon names were a little more brandable than 4 numbers, so they were able to band together and watch their community take off.

For the same reason that the 10K club is exclusive, so is Pokemon ENS with the added bonus of being a brand that people still obsess over.

It doesn’t stop there either. Other ENS communities have started by attaching themselves to certain fandoms including anime, cartoons, and movies.

You can purchase most of these on secondary markets like OpenSea and the aforementioned vision.io (my personal preference). You’ll obviously have to pay more and deal with domain squatters who think their ENS domain is way more valuable than it is, but to join a special ENS community will be worth it in the long run.

Advanced Features and Integration Options

Subdomains

There are a lot of cool, technical tricks you can use with ENS. It’s an entire protocol and I won’t pretend to know even half of the things you can do.

The subdomains feature is probably the most useful to beginners and experts alike. It functions (again) much like a traditional subdomain as it can point to a completely different address and can even be wrapped and sold as such.

Imagine Nike wants to create subdomains for their athletes, in theory, they could do this and have each subdomain represent the wallet of a different athlete.

And so on…

To do create a subdomain, you will need to pay gas, but it’s a rather straightforward process. I have setup a “vault” subdomain so I can quickly and easily send NFTs to my hard wallet.

The Future of ENS

There you have it. You are an ENS master. You are off to the races, you can start buying and trading ENS domains today if you want to.

Remember, this is a long-term play. You won’t sell any domains overnight. It’ll be months and sometimes a years long process. Despite all the uncertainty, I believe in ENS long term.

There are services out there that track expiring ENS domains. Right now, a lot of good ENS domains are dropping like flies. That’s because the ENS DAO has kind of dropped the ball.

At one time there was a lot of money flying into the ENS ecosystem. People were overpaying for high quality domains, hoping they’d resell for much more. The 10K community was thriving and was worth a lot of money. 

However, things dried up and those people who were overextended got angry.

Despite all the turmoil (and to be clear, things don’t look great right now), I think there’s some promising things on the horizon for ENS.

First they have a new partnership with GoDaddy, which hopes to bring in traditional domain owners into the world of Web3.

Next, there is word on the street that ENS will be dropping a L2 in order to make gas fees negligible. A big issue has been paying more for gas to register a domain that it’s actual renewal costs. It makes splurge purchases hard as you have to properly time when gas is low. An L2 would change this and give ENS another chance to win back the community with an airdrop of some sort again.

(Their first ENS airdrop was a success and remains one of the smoothest and best examples in the Web3 space in my opinion).

Either way, I hope this guide helped. You can now leverage ENS domains to enhance your Web3 experience. Let’s get it.

Other FAQs

Can I transfer ownership of my ENS domain to someone else?

Yes, you just need to update the wallet address of the owner in your ENS domains account. This will effectively transfer ownership to them. This costs a small gas fee to update to the new wallet address.

How long does it take to register an ENS domain?

Do I need to renew my ENS domain annually?

Yes. To save gas, you can bulk renew your ENS domain for multiple years. If you're very confident you'll be keeping your ENS domain for the long term, you can renew it for 10 years!

Can I link multiple cryptocurrency addresses to one ENS domain?

Yes. Go to the information of your ENS domain in their admin panel. If you haven't already, connect the wallet that holds the ENS NFT you registered. Click on the DETAILS tab in the app. Enter the addresses you'd like your domain name to point to for multiple chains. For example, you can enter a BTC address, a BCH address, an ETH address, and so on.

What happens if I forget to renew my ENS domain?

If you happen to miss renewing your Ethereum Name Service (ENS) domain, don't worry; there's a 90-day grace period before it becomes available to everyone again. Within this time frame, you can still reclaim your domain without losing ownership rights, although you won't be able to make any changes to its records. This means the name and its associated information stay the same, and any Ethereum tokens sent to that name will still reach the designated wallet address.

Can I use my ENS domain for websites outside of the Ethereum ecosystem?

Are there any limitations on the characters I can use in my ENS domain name?

ENS names are generally encoded using UTS-46, which means they have partial support for Unicode characters, including emoji. In fact, emojis ENS are another community you can get involved with!

Names that are not valid UTS-46 will not be resolvable by most resolvers, which includes some emojis so be careful.

Is there a limit to how many ENS domains I can own?

Nope! You'll just be on the hook for crazy renewal payments every year. Happy hunting though.

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