Frequently Asked Questions
Why does the universe exist?
Well, we haven’t figured that one out yet, but below, you’ll find answers to some of the most common questions we’re asked.
Who is Cosmic Wire?
We are a development house and omnichannel IP monetization engine specializing in creating experiential NFTs, traditional licensing, and derivatives of iconic IP and art. Our group offers a turnkey solution for artists and holders of iconic IP to monetize their holdings or art by crafting and digitizing their stories using the most advanced digital technologies. We bring them to life through additional one-of-a-kind experiences that we then publish and promote to the masses.
Our full ecosystem offers artists, content creators, and IP collectors the ability to enhance, promote, sell, and license their work. Our market advantage includes having a completely internalized development, marketing, and sales team allowing us to support clients from concept to close.
What does Cosmic Wire do?
Brand Discovery & Amplification
- Defining IPs brand DNA, USP (unique selling proposition), and prospective value. Creation of brand books defining the usage of all brand assets.
- Development and implementation of the IP monetization strategy.
- Identification of prospective licensees and third-party stakeholders
Brand Digitizing Technology
- Development of proprietary website or landing page
- Creation of NFTs (Non-Fungible Tokens)
- Digitalization of physical assets
- Develop and manage brand-centric communities
Exponential Omnichannel Distribution
- Execution of licensing campaigns
- Handle all paid and earned media campaigns including the creation of all brand assets for the campaigns and dissemination across viable social media channels
- Oversee all aspects of the NFT campaigns
- Handling all third party negotiations for the successful execution of our campaigns
Who has Cosmic Wire worked with?
We have had the pleasure of working with some truly great people; Ruby Mazur, Corey Feldman, Leland Sklar, Afroman, Sue Wong, Tyron Woodley, Kenny Aronoff, and many more.
What is cryptocurrency?
A cryptocurrency (crypto) is a digital form of money or tradeable digital asset built on blockchain technology. Encryption is used to authenticate cryptocurrencies and protect transactions. As of 2021, cryptocurrencies have eclipsed a thousand different types in the world.
The most popular cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). Other notable cryptocurrencies are EOS, Tezos, and ZCash.
Companies, countries, or third parties don’t regulate cryptocurrencies and, instead, are validated by blockchain technology, which is achievable due to recent advances in technology and computer science.
What is a blockchain?
A blockchain is a continuously growing list of records, called blocks, linked and secured using cryptography.
By design, blockchains are inherently resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires the collusion of the network majority.
How do I get funds (digital currency) in Ethereum?
As the most common NFT purchases (and sales) require Ethereum currency (aka ETH), you’ll need to convert money prior to your purchase. Here’s a step-by-step guide that shows you how to complete the conversion.
Are banks or payment processors required?
No. Cryptocurrency can be transferred nearly instantly online. Fees may be associated, but are generally low.
Are cryptocurrencies issued or controlled by any governments?
Typically, no. Crypto is managed by peer-to-peer networks of computers using open-source software.
What can I use cryptocurrency for?
Purchase of NFTs
Buy virtual property in a gaming world
Getting Started with NFTs (Non-Fungible Token)
What is an NFT?
NFT stands for “non-fungible token” and exists as a digital “proof of ownership.” You can have an NFT for almost anything! Digital things like pictures and videos, as well as material things too! Think of it like a digital “deed” to a house. The deed “proves” that you own the home. Likewise, NFTs help “prove” you own a specific asset, and as an owner, you are entitled to whatever rights or “perks” come along with ownership.
Many suspect that NFTs will be a large part of our digital future. Some experts even suggest that concert tickets and homes will be bought and sold via NFT.
What makes an NFT valuable?
Rarity. Authenticity. Ownership of art. Utility. Exclusive experiences. Market demand. Aesthetic value. Ability to trade on the secondary market. Downstream royalties. Social status. Potential physical item tethered to digital art.
Can I buy an NFT with USD or a credit card?
Unfortunately, you can only bid using Ethereum currency.
Do I need cryptocurrency to purchase an NFT?
Yes, you’ll need cryptocurrency in most cases to buy most NFTs.
Ethereum is the most common currency in the NFT marketplace and for more information on Ethereum and how to convert USD into Ethereum, go here.
How do I purchase an NFT?
We have a great “how-to” guide that walks you through the process, step-by-step. Check it out here!
There are many NFT marketplaces available online such as Opensea, Nifty Gateway, Rarible, The Sandbox, Valuables, and Zora.
What NFTs should I purchase?
That’s the great thing – it’s totally up to you!
Connect with a creator you love by getting their NFT. Buy an experience that you probably wouldn’t be able to get any other way! If you need ideas, check out some of the drops we (and our clients) have coming up soon! The NFT space is still relatively young, but as time goes on, you’ll likely see more people (and even places) offering NFTs and unique experiences specifically for owners of those NFTs.
How do I sell an NFT?
You can upload or mint your digital artwork to an NFT marketplace. Once minted, select the option to sell your NFT within the given marketplace. Choose the price or auction time limit. Promote the sale.
How are NFTs traded?
Once you purchase an NFT, you can list it for sale on the secondary market. Be sure to calculate gas fees, royalties set by the original NFT creator, and other potential marketplace fees before finalizing any trade.
What are NFT gas fees?
Gas fees cover the energy cost incurred from a computer processing a transaction on the blockchain. Gas fees are contingent upon user traffic, higher traffic – higher fees.
Managing My Digital Assets
Where do I store my NFTs?
To store your NFT, you’ll need a digital wallet. There are lots of wallets you can choose from – here are some of our favorites (and why we love them!)
What is a digital wallet?
What is a seed phrase?
A seed phrase is the private key to your digital wallet and will be a list of random words when you install MetaMask. Therefore, you must store this list somewhere secure. If you lose your Seed Phrase, you cannot recover your wallet in the future.
Can I switch them out for other NFTs?
In some cases yes, and in other cases no. You can always offer them for sale though! Here’s a step-by-step guide on how to do it.
Do I have to store my NFTs online?
Not necessarily. Some wallets allow you to store your NFTs offline.
For more information on which wallets do and don’t, go here.