Frequently Asked Questions
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What is an NFT?
NFT, stands for Non Fungible Tokens. But in simpler terms, it’s a digital deed that confirms ownership. This cannot be forged or altered by a third party. Therefore an NFT is a deed that confirms the ownership of a digital work.
NFT market tripled in 2020. Digital artwork entitled “Everydays – The First 5000 Days”, by artist known as Beeple, sold for US$69.3 million in 2021 along with many others being auctioned for exorbitant amounts. In 2021, the NFT market grew by 15,900% to USD 40 Billion. 2022 has been the year for Utility based NFTs that provide tangible benefits (Physical or Digital) to its holders.
What is minting?
Minting an NFT means creating a blockchain entry for the Non Fungible Token. These tokens are stored in a distributed ledger and cannot be edited, modified, or deleted. In this instance, when you pay for the NFT, the NFT is created on the blockchain.
Ethereum NFTs built and expanded the NFT space. However there are several downsides to Ethereum NFTs, especially when it comes to a project like Heal Sri Lanka, that focuses on helping the Sri Lankan Medical Crisis.
Ethereum network charges very high gas fees. (Around $20-$150 at times) However Solana gas fees are around $0.00025. High gas fees means, high resource usage which in turn means more energy consumption. This has helped Solana become a carbon neutral chain.
Solana based NFTs have been steadily growing over the last few months, allowing utility based NFT projects to find success easily.
When can I buy?
How much is donated?
90% of the funds are donated. 10% of the funds are provided to the original creators.
Do I need cryptocurrency to buy Heal Sri Lanka NFTs?
You can purchase these NFTs with Credit or Debit Cards as well as the Solana Cryptocurrency.
What’s an NFT Wallet?
An NFT wallet can aid you in purchasing, selling and trading of NFTs by helping you safely store the private keys that are required to access your NFT. In other words, you can simply think of an NFT wallet as the place where you keep your NFTs. Your wallet has a public key using which you can send/receive NFTs.
Do I need a Wallet?
If you are purchasing using Solana, you need one of the following wallets: Phantom, Solflare, Slope, Sollet. If you are purchasing using Credit or debit cards, you will be receiving your NFT to a Crossmint wallet that’s automatically created for you.
CAUTION: Your Crossmint account is connected to your email address. Therefore, make sure that you have access to the email you are using when making the payment. We cannot reverse/recover your Wallet ID, Crossmint Account or your NFT for you.
How do I send my NFT from Crossmint to another Wallet?
Login to Crossmint and navigate to your NFT. Select Export and enter the recipient Wallet ID.
CAUTION: You cannot reverse this transaction.
How do I buy?
You can visit mint.healsrilankanft.com and purchase using either Solana or your Credit/Debit card.
How do I pick the artwork?
You cannot pick the artwork in the Genesis collection. However you can trade/sell/buy these NFTs. You can choose the artwork in the Legacy collection.
Why are there 2 collections?
Genesis collection contains the first 100 NFTs of Heal Sri Lanka Collection. These NFTs provide additional benefits to the holder and valued at 2 SOL ($100). Apart from being a valued collectible, these NFTs provide the holders with Mystery boxes once the first 100 NFTs are sold out. These Mystery boxes will unlock additional benefits to the Heal Sri Lanka Genesis NFT holders.
Legacy collection is solely focused on the raising funds for the cause and valued only at 0.5 SOL. You can choose the artwork you prefer but it will only have collectible value.
What are the traits in Genesis Collection
The rarity of an NFT is determined by the traits. The Genesis collection contains 5 traits: Medicine, Gas, Fees, Electricity and Food. The rarest NFTs have all 5 traits. This is purely a simple commentary on the lack of essentials in Sri Lanka at the moment.
How are the funds distributed?
90% of the funds are donated towards the Sri Lankan Medical crisis. 10% of the funds go to the artist.
We got in touch with 2 entities that actively track the shortage of medical supplies. The funds will be utilized in 100% transparent manner, through the following trackers.
- Watchdog Elixir Medicine Tracker
Elixir tracks the medicine and equipment that’s in short supply at a national and hospital level by working with hospital and government officials. Visit Tracker
- GMOA Medicine Tracker
Government Medical Officers’ Association (GMOA), which is the doctor’s trade union, have opened up a portal seeking donations of medicines and consumables as part of their initiative to bring at least a temporary relief to the medicine shortage in such a time. Visit Tracker
Why do the individual NFTs look different from one another?
Heal Sri Lanka Genesis collection contains 10 different Artworks, each containing 10 copies. (#0000 to #0099)
Heal Sri Lanka Legacy collection contains 20 different creatives, each containing 495 different copies. (#0099 to #9999)
These artworks and creations are from different artists exhibiting their take on the prevailing situation in Sri Lanka.
What is the theme behind it?
The artwork signifies positive change or themes that display injustice, corruption and the peaceful unity displayed by the Sri Lankan people. The idea is that each souvenir will be a memo of your help towards Sri Lanka during this time of need.
Where do I resell my NFT?
Once you have minted the NFT, your NFT will be available on the Solana blockchain chain and can displayed, traded or sold at any Solana NFT Marketplace. We will be facilitating these NFTs in Hyperglade marketplace as well. Hyperglade marketplace provides buyers and creators the ability to create/buy/sell NFTs with cryptocurrencies or credit/debits cards. Furthermore, the inbuilt wallet removes the requirement of a third party wallet.
Do I get exclusive rights?
The holder of the NFT gets the right to showcase, trade or sell the NFT. However the NFT does not give the holder the right to replicate, duplicate, merchandise or monetize the NFT. These NFTs are collectibles. Just like how buying a Pokemon card does not give you the right to merchandise the Pokemon or the card, most NFTs do not provide you those rights, unless specifically mentioned. To learn more read about HyperNFTs.