What is Culture Vault?
Culture Vault is a curated platform where first-time NFT buyers and seasoned digital art-collectors can purchase premium NFTs. We work with emerging and established artists from both the digital and traditional art world to create, mint, sell and display their work on our web3 platform.
What is an NFT?
An NFT stands for non-fungible token and is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger. Types of NFT data units may be associated with digital files such as GIFS, drawings, photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin.
What is Ethereum?
Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum, and its own programming language, called Solidity. As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network's users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call the decentralized applications on the network 'dApps'. As a cryptocurrency, Ethereum is second in market value only to Bitcoin, as of May 2021.1
What is Polygon?
Polygon is a layer 2 solution which has been developed on top of the Ethereum blockchain. As the Ethereum blockchain becomes increasingly popular and more widely adopted its transaction volume has increased. This has resulted in slower transaction speeds, and increased fees for using the network. Energy consumption for these transactions is typically high, which is not environmentally sustainable.
However, Polygon operates via a proof of stake approach which minimises energy consumption and is one of the leading eco-friendly solutions to NFT technology.
How do I buy an NFT on the Culture Vault platform?
To purchase an NFT on Culture Vault's platform, please connect your web3 wallet to our platform via the wallet icon you see in the top right-hand corner of your screen. If you do not have a web3 wallet (e.g. Metamask) set up yet, please view the following link
for simple instructions for set up.
What is Blockchain technology?
Blockchain technology is a system of recording transactions via an immutable ledger. Assets can be traded and recorded via blockchain technology immediately and transparently. Each record of a transaction is a 'block' of data. These blocks are connected to the data or 'blocks' that have come before it, forming a chain of data as an asset moves from place to place or changes ownership. The blocks confirm the exact time and sequence of transactions and link securely together to prevent any block from being altered, ensuring the security of this data within the blockchain.
What is Web 3?
Currently, our internet operates via the centralised system of Web2 (e.g. social networking sites including Facebook and Twitter). Web3 is a new, decentralised system of the internet where users are able to become owners of digital assets such as NFTs or cryptocurrencies. This ownership enables them to participate in the system's creation, operation and governance. Unlike the centralised system of Web2, Web3 facilitates peer-to-peer communication and transactions. This allows users to perform actions, including sending, receiving and trading assets, without requiring permissions from central authorities or disruptions from intermediaries.
How do I set up a crypto wallet?
What do I do if I have a problem with buying my NFT?
If you are having difficulties with buying your NFT on Culture Vault's platform, please contact our friendly team for support via this email address email@example.com
What makes Culture Vault different to other platforms?
1. Unlike many other platforms, Culture Vault mints their tokens via Polygon, requiring less computational power, which is better for the environment and significantly reduces gas fees typically associated with the Ethereum blockchain.
2. We're not just a 'minting factory'. We are a highly curated platform, and we provide creative and business strategies to our artists. We take care to ensure that their creative vision and needs are satisfied.
3. We have a planned partnership with OnCyber Gallery so NFT owners can easily display their digital assets in a beautifully designed, easily sharable metaverse gallery.
4. We offer Web3 integration (not universally offered on every NFT site).
5. Our approach of pre-minting artworks mitigates the risk of (finish).
6. The design and UX of our site is purpose-built based on principles of UX theory and allow ease of use for all audiences, not just crypto natives.
7. As an organisation, we go above and beyond to ensure robust regulatory compliance. We have a team dedicated to ensuring our artist's funds are secure.
8. We strongly support collaboration in this space and we give artists the opportunity to collaborate directly with our network of artists, musicians, animators, cultural brands, etc
9. We allow artists to cash out into fiat because our backend crypto technology is powered by Aus Merchant
10. We have a substantial marketing and PR budget dedicated to our artist's collaborations.
What is Culture Vault's 'Rarity' guide?
Some tokens are more rare than others. For example, a token which has only 1 edition, is more unique than a token in a collection which has 100 editions of its kind. Culture Vault's rarity guide categorises tokens in the following tiers of rarity: 'Premium' tokens are one of ones which come with an exclusive offering to the owner of the token e.g. an experience or a physical asset. 'Exclusive' tokens also come with an exclusive offering, however more than one of these tokens exist. 'Rare' tokens are one of a kind, however they do not come with additional offerings. 'Limited' tokens are part of a collection which has more than one of its editions.