Non-fungible tokens (NFTs) are unique identifiers that use blockchain technology to assign and prove ownership of a digital good. NFTs are stored in digital asset wallets, like Coinbase Wallet or MetaMask.
To purchase and store an NFT, collectors must use a digital asset wallet, like Coinbase Wallet or MetaMask. Each Ethereum wallet has an Ethereum address, which is a unique public identifier that points to the wallet.
Minting an NFT from a collection is the earliest possible opportunity to own an NFT from the respective collection. Those who mint are the first to own the NFT. After an NFT is minted, it can be transferred or sold like any other NFT.
After purchasing an NFT, the digital item is transferred to the digital asset wallet that you connected to for the transaction. Once it’s in your wallet, it will remain there until you transfer it to another wallet.
A seed phrase is a series of words generated by your cryptocurrency wallet that gives you access to the crypto or NFTs held within that wallet. Think of a wallet as being similar to a password manager for crypto, and the seed phrase as being like the master password. As long as you have your seed phrase, you’ll have access to all of the digital assets held within the wallet that generated the phrase — even if you delete or lose the wallet. Never share your seed phrase with anyone.