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We have prepared a series of rich activities for the members of the association. The registration fee for the activities is mainly in the GMT currency of the platform. We also welcome members’ suggestions and comments on NFT activities

Create NFT

The association regularly holds offline and online seminars for members who need to create NFTs

FAQS

About NFT

What's the format of NFT

Whether it’s a work of art, a piece of film, or a sound file, as long as anything you can imagine goes through the process of casting, after digitization, let the subject have their own virtual ID card, it can officially become an NFT

What's the value of NFT?

The biggest change is not to bring a token mechanism, but to redefine the concept of collection in the digital age, allowing more artists to be seen, and giving more digital artworks a vigorous vitality.

NFT will change the way of perceiving and sharing value in the digital age. NFT fully protects the interests of creators and allows creators to enjoy the value of work growth. NFT's influence will gradually extend to traditional industries.

What's the innovation of NFT?

Provides a way to mark the ownership of native digital assets, which can exist outside of centralized services or centralized libraries.

The ownership of the NFT does not prevent others from inspecting it or reading it. NFT does not capture the information and hide it, but only captures the information and discovers the relationship and value of the information with all other information on the chain.

With natural collection attributes and easy to trade.

What are the scenarios for NFT?

Game. For example, it can be used as pets, weapon props, clothing and other items in the game. In 2018, the smash hit crypto cats, each cat is given a special mark number, making it a unique cat.

Intellectual Property Field.NFT can represent a painting, a song, a patent, a film, a photo, or other intellectual property rights. In this field, NFT plays the role of a patent office. Help each unique thing to register the copyright and help it identify the patent.

Physical assets.Real estate such as houses and other physical assets can be tokenized by NFT. It can be used in financial markets such as the circulation of assets.

Records and identification. NFT can also be used to verify identity and birth certificates, driver's licenses, academic certificates and other aspects. These can be safely stored in digital form to prevent abuse or tampering.

Financial documents.Invoices, orders, insurance, bills, etc. It can be converted into NFT for trading.

My project is a physical work such as oil painting/sculpture/Chinese painting, how to turn it into NFT?

The difference between the sales of artworks that are bound to physical works and the sales of digital art lies in the two links of release and transaction.

Release process: For the sale of artworks bound with physical objects, the physical works need to be photographed, photographed, or scanned and uploaded in png (image) or mp4 (video) format. In addition, a group photo of the artist and the physical work must be uploaded. The group photo will not be made public and only serves as the legal basis for the creator's copyright.

Transaction: When the transaction is completed, we will transfer the blockchain Token of the work to the buyer. At the same time, the artist needs to mail the physical artwork to the buyer. Transportation fees and insurance fees depend on the situation, and we will communicate with you.

Notice: If physical work has been sold, you must immediately notify the platform to remove the work from the shelves. We will destroy the NFT or send it to the buyer you specify. If you fail to notify the platform in time and cause repeated sales of works, the legal risks arising therefrom will be borne by the artist or the artist studio.

What services and commissions does the NFT Hong Kong Association provide?

The NFT Association provides a reliable NFT Art Association for Hong Kong's art collectors, providing a series of services such as casting, promotion, and trading.

The NFT Association solves the problems of "difficult to purchase" and "difficult to display" for collectors, and uses blockchain technology to clearly and irreversibly record the creation records, attribution records, and transaction records of works. Each work has a unique blockchain Token and no longer worry about "counterfeit" issues.

Since the development of blockchain technology, it has advantages and disadvantages like a double-edged sword. The original intention of the NFT Hong Kong Association is to allow artists and collectors to enjoy the technological power brought by blockchain technology, and to stay away from financial risks such as "coin speculation", hoping to truly enable blockchain technology to empower artworks. The application in the field of artwork will allow technology to promote the progress of the industry and be a healthy, long-lasting, and social progress platform for artwork exchanges.

In order to maintain the development of the platform, the NFT Hong Kong Association collects 10% of the transaction price of the works as a platform commission in each transaction.

Notice of works for sale

Note 1: Commission and gas fee are automatically deducted.

When your work is cast as NFT, no fees will be charged (except for artist review fees). When your work is successfully sold, a small amount of gas fee and NFT Association platform commission will be automatically deducted. The gas fee depends on the congestion of the Ethereum network and the real-time price of ETH. The platform commission of the NFT Association is 10% of the price of the work.

Note 2: Price fluctuations

The NFT Association publishes the work on the world's largest public chain-Ethereum. When the works are sold, they will be settled in ETH on some platforms. If the work is sold first on an ETH-denominated platform, the transaction price of your work may be affected by the price fluctuation of the digital currency ETH.

For example, the work is released on June 17, 2021, and the price is ¥1,500. At this time, the price of ETH is about HKD 15,230.21. Then, on the ETH-denominated platform, it will be priced at 0.0985ETH (1500/15230.21 = 0.0985). Suppose it is sold on X, Y, 2021. At this time, the price of ETH is HKD 20,000, which is much higher than the price of HKD 15,230.21. At this time, the actual transaction price is HKD 1,970 (0.0985 X 20000 = 1970). In this case, the actual transaction price is higher than the expected selling price, and the artist actually receives more money than expected. Conversely, if the price of ETH at the time of the transaction is lower than the price of ETH at the time of sale, the actual transaction price will be lower than the expected sales price. This situation only exists when the work is sold first on the ETH-denominated platform. If the work is sold first in the NFT Association, there is no need to worry about the impact of price fluctuations. If you are very sensitive to price fluctuations, you can consider buying response futures to hedge your risk. As a non-financial institution, the NFT Association does not provide this service.

Note 3: Choice of payment method

You can choose digital currency or Hong Kong dollars. If you choose digital currency, we will send ETH to your digital wallet when the work is sold. If you choose to accept HKD, we will remit HKD to your bound bank card. Please note that if your choice is a digital currency, we are not responsible for whether the digital currency can "withdraw HKD".

The NFT Association strictly abides by Hong Kong laws and regulations and does not provide customers with the service of converting digital currency to Hong Kong dollars. Whether your digital currency can be withdrawn into Hong Kong dollars has nothing to do with the NFT Association.

About virtual wallets

What's the Metamask

MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.

How to own your Metamask

please visit the link

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