Non-fungible tokens (NFTs) have been exploding in popularity as of late; however, many new projects have been risky, prone to value stagnation, low effort or worse yet, outright scams. In this sense, reputation, integrity and transparency are incredibly important (and increasingly rare) in the space, and one of the bastions of these tenets is the Random Character Collective. The Random Character Collective has organically amassed a community of creators (artists in both physical and digital mediums) and consumers spanning multiple successful projects, having coined the “walking” category of animated NFTs. The Random Character Collective’s latest, and arguably most hyped, project is the Invisible Friends collection, which is a set of 5,000 animated NFTs designed by Markus Magnusson. The Invisible Friends collection currently is in a pre-mint stage, where the initial holders of the NFTs have yet to be determined.
How to Mint Invisible Friends
As the Invisible Friends project hasn’t yet begun its public minting phase, the biggest value proposition at present comes from being able to secure a mint slot by entering the public mint’s whitelist. If you can manage to enter the whitelist, the price to mint an Invisible Friend on its website is 0.15 ETH, in addition to gas fees, which needs to be paid using an extension-based cryptocurrency wallet such as MetaMask.
How to Get Whitelisted for Invisible Friends NFT Collection
As with many other NFT projects, the whitelist to mint is intended to incentivize community engagement, so ways to get on the public whitelist include holding other Random Character Collective tokens, winning Twitter sweepstakes for people who make Invisible Friends fan art, purchasing some of the limited Invisible Friends merchandise or winning giveaways on its Twitter.
What Are Invisible Friends NFTs?
Invisible Friends are a set of 5,000 animated NFTs that depict walking avatars with invisible skin. The NFTs have a wide range of traits which determine their rarity and market value. The Random Character Collective has already announced a 3D collaboration with Nguyen Nhut, showing the potential to tie future (airdroppable) projects into Invisible Friends in the same vein as the Bored Ape Yacht Club with the Mutant Ape Yacht Club, which is a potential value add in the long term.
Who Created Invisible Friends?
Markus Magnusson created the Invisible Friends project after showcasing a wide range of walk cycles on his social media, joining the established Random Character Collective. Magnusson has put out NFTs before, which have empirically fetched a significant floor price, and the Random Character Collective has successfully put out multiple popular “walking” NFT collections in the past. In this sense, the creators of Invisible Friends are reputable and experienced and have additionally proven themselves to be transparent throughout the process of creating this collection.
How to Buy Invisible Friends on OpenSea
Invisible Friends can be bought on OpenSea once the mint process is completed, and doing so will have the advantage of removing the randomness of the minting process, though the floor price of the collection will almost certainly be substantially higher than the 0.15 ETH mint price.
Buying Invisible Friends on OpenSea will realistically be the same as purchasing from any other NFT collection in the sense that you will need an extension-based wallet with sufficient Ether to cover the price of a listed NFT and the associated gas fee.
Keep Your NFTs Safe
To keep your Invisible Friends (and other Ethereum-based NFTs) safe, a hardware wallet is the best long-term solution, by virtue of the wallet being fully isolated from the internet. In this sense, NFTs and other assets stored on hardware wallets are safe from phishing attacks caused by malicious links. Ledger’s Nano X and Nano S are some of the most ubiquitous of these hardware wallets, boasting support for most blockchains and full support for NFTs on both the Ledger hardware wallets and Ledger Live.
All this being said, hardware wallets can’t protect against social engineering exploits, so the 24-word recovery phrase associated with your hardware wallet is the path of least resistance to the funds in a hardware wallet and must be protected as such. Hardware-based attacks are also possible but are generally regarded as being less of a concern for most people than social engineering attacks.
securely through Ledger Hardware Wallet’s
website
Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.
Best For
- ERC-20 tokens
- All experience levels
- Easy to set up and use
- Supports more than 1,500 different digital assets
- Tamper proof
- Portable
- Long-lasting battery
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Where to Buy Ethereum For NFTs
In order to purchase or mint an Invisible Friend or any other Ethereum-based NFT, you need Ether, both to cover the gas fees on the Ethereum Network and also to compensate the artists and distributors behind the project, in this case Markus Magnusson and the Random Characters Collective.
In order to buy Ether, you use a cryptocurrency exchange, much like a foreign currency exchange. In the cryptocurrency space, you’ll find two broad categories of these exchanges: centralized exchanges (CEXs) and decentralized exchanges (DEXs). CEXs are arguably easier to use and are better for going between fiat currencies and digital assets, while DEXs boast lower fees and offer more obscure token trading pairs for trades between different digital tokens.
Some of the best CEXs include Gemini, eToro, Coinbase Global Inc. (NASDAQ: COIN) and Voyager, all of which offer desktop and mobile clients that can be connected to debit cards and credit cards, as well as bank accounts.
Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users.
When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we’ve seen that allows users to earn interest on their crypto investments.
Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.
Best For
- Cryptocurrency investors looking for a wide selection of supported projects.
- Investors who prefer mobile trading.
- Anyone interested in earning interest on their crypto investments.
- Simple, straightforward and intuitive mobile platform
- Wealth of investment opportunities
- Allows users to earn interest on select crypto investments
- Only available for mobile users — no desktop platform
- Limited routes to contact customer service team
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.
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- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
- Simple platform is easy to operate
- Comprehensive mobile app mirrors desktop functionality
- Coinbase Earn feature rewards you with crypto for learning about available coins
- Higher fees than competitors
Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.
Best For
- New investors looking for a simple mobile and web app
- Day traders looking to use technical analysis tools
- Users looking for a 1-stop-shop to buy, sell and store all of their cryptos
- Easy and quick signups — can get started in as little as a 5 minutes
- Multitude of platforms to accommodate traders of all skill levels
- Hot wallets include insurance to protect your from theft and hacking attempts
- Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app
Is it Worth Minting an Invisible Friend NFT?
As a whole, minting an Invisible Friend has a pretty minimal downside (assuming that getting onto the whitelist is taken as a given), considering the realistic roadmap and reputation of the project as well as the demand in the NFT space right now. The upside is fairly high as well, looking at the current prices of the other Random Character Collective projects and the fervor in the community surrounding fan art and the mint whitelist. This being said, long-term value of Invisible Friends (and any other NFT project for that matter) is very speculative by nature and shouldn’t be held without diversification and hedging.
This news is republished from another source. You can check the original article here.
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