Why am I being asked to create a wallet?
The GFT Exchange mints NFTs on both public (Mainnet Ethereum) and private (Kaleido Enterprise Ethereum) chains. Purchasing or trading tokens on the Ethereum Mainnet requires a secure blockchain wallet to sign and pay for transactions. Metamask (https://metamask.io) is a good choice, though others are available, like the Fortmatic wallet suggested by our partner OpenSea. Note that this is a different wallet to the private wallet we maintain for coupon and collectible transfers on our hybrid chain.
What’s a hybrid blockchain?
We refer to our blockchain solution as a hybrid because we utilize a high-speed private instance of Ethereum (Quorum/IBFT, for the curious) for all of coupons and many of our collectibles because of the prohibitive costs and speeds of the Ethereum mainnet. We have a ‘trust anchor’ in place, which means transactions on the private chain (higher speed/higher risk) are snap-shotted to the public chain every six hours.
For some higher-end collectibles a private chain isn’t suitable, so we mint those on the public chain. We’ll also be releasing a private-public exit/swap facility in the near future, but we don’t expect it to heavily utilized until Mainnet fees drop markedly.