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NFTs are either ECR721 tokens that are unique and do not have interchangeable value. NFTs based on ECR1155 tokens, on the other hand, enables batch transfer of multiple tokens simultaneously.

NFTs possess certain standardization which focus primarily on ownership, simple access control, and transfer. NFTs can be traded in marketplaces where bundling, auctioning, and bidding can be done easily. NFT royality can be earned by original owner made on secondary sales. Fractional ownership feature offers promising opportunities for NFT minters and collectors by owning specific part of an NFT.

SoulBound NFTs are, unlike NFTs, non-transferable, public-veriable digital tokens which represents social status of the owner in web3 landscape.

#NFT #NFTbasics

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Gnosis Safe is bringing multisig security to DeFi, with the option to require multiple devices to confirm transactions (hardware wallets, EOA-based wallets, paper wallets, or a combination of them).

Step-by-step guide how to set up Gnosis Safe through Metamask wallet

Step 1. A) Remove the Metamask extension from the browser, and then add again.

B) Next, create by clicking “Get started”

C) Then press “Create a Wallet”(not Import wallet)

D) Create a password and write down/export the seed phase

E) Don’t forget to export/write down the new wallet address and the Private key for the new account created.

F) You can use your primary Metamask account as one of the three (if you want, create five for better security) accounts. Otherwise, repeat steps A-E two times to ultimately create three new Metamask accounts.

G) When third account is already created, import other two accounts by entering “Private key” in the Metamask’s “Import account” one by one.

Note: In one account (preferably the main account), keep a few dollar tokens for fee in each chain you want to connect with Gnosis Safe.

Step 2. A) Open https://gnosis-safe.io/app/welcome

B) Accept all the permissions asking below by pressing “Accept All”

C) Click on “Create New Safe”

D) Click “Connect wallet”, authorize in Metamask

Note: The Chain in the Metamask should be Ethereum Mainnet, same as in the upper right corner of the Gnosis safe webpage. (Connect the wallet which has enough Eth for fee)

E) Once connected, press “Continue”

F) “Name” the safe as you want (e.g. Eth-safe), then “Continue”

G) In “Owner and Confirmation”, the current/main Metamask Wallet address is automatically pasted. Name it (as in the Metamask or e.g. MM1)

H) Next, press “Add another owner” and place the second Metamask wallet address and name it

I) Lastly, press “Add another owner” and place the third Metamask wallet address and name it

J) Scroll down, then in “Any transaction requires the confirmation of”, select 2/3 owner(s) (in case of five Metamask accounts, 3/5 owners suggested)

Press “Continue”

K) In “Review”, press “Create”

L) “Safe creation process” will start and it will ask for several “Confirmations”, approve all in Metamask and wait till the “Safe is created”.

Note: If any error shows up in between, and fee is already deducted from Metamask, send them a message (lower right corner) explaining your query supported by Tx hash (someone will reply within few minutes)

Once created, Copy the safe address staring “0x” and send some fund from Metamask. For the transaction to occur, you will need to give permission from any two Metamask accounts. So, after approving from the first account, switch to the second or third account and confirm the transaction there to fully accomplice the transaction.

Step 3. Repeat Step 2 for other chains in Metamask.

So, even if your main account (or one of your accounts) gets hacked, they will need permission from any one of the other two accounts to remove the funds. It is very important not to link the new accounts with any sites in the Metamask. Even if you link, they will need to hack at least two of your accounts to do any transaction.

Gnosis Safe is trusted by Consensys, Synthetix, Ethhub, ENS, Zerion, Kyber Network, Balancer to name a few. At present, it supports Ethereum, Polygon, Arbitrum, Optimism, Gnosis Chain, BNS, Avalanche and energy web. Assetwise it supports ETH, ERC20 (Tokens) and ERC721 (Collectibles). One can also see the fiat values of your assets.

You can use your favorite wallet to sign transactions, no matter if it’s a mobile wallet, browser extension, or hardware wallet. Gnosis safe is available in Web, Desktop and Mobile app.

Tips: Perform as much transactions (using the dApp’s inside Gnosis safe) as possible to qualify for future airdrops.

Gnosis official links: Website: https://gnosis-safe.io/ Discord: https://discord.com/invite/AjG7AQD9Qn Twitter: https://twitter.com/gnosisSafe Github: https://github.com/safe-global

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