Custodios
Custodios
Dec 27, 2022 - Jan 02, 2023
Marketplace: Magic Eden Magic Eden
Blockchain: Solana Solana

Custodios is an innovative collector's project that aims to create an exclusive auction house for NFTs. The project seeks to issue items in the form of tokens and host them for auction where each item will have a real reflection. Once the auction is complete, the winners will be able to pick up their items from Custodios' head-quarters by showing the actual NFT in their wallet. In addition to this, Custodios is planning to launch a collection of works from well-known artists outside the web3 community to give the crypto community a chance to appreciate their art. As a Custodios holder, you will have the opportunity to enjoy free mints and receive significant discounts when purchasing items. The ultimate aim is to create an NFT marketplace where collectors can acquire virtual items that have real-world value.

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Explanation of the Key Terms

NFTs

NFTs are digital assets that use blockchain technology to verify ownership and authenticity of a unique asset. This can include anything from a piece of artwork to a collectible card, providing a secure and transparent way to track ownership.

Web3

Web3, also known as the decentralized web, is the next evolution of the internet. Unlike Web2, which relies on centralized servers and platforms, Web3 uses decentralized technologies like blockchain to create a more open and transparent internet. With Web3, users have more control over their data and can participate in a more peer-to-peer economy. Web3 technologies are powering the growth of decentralized applications, or dApps, which are built on blockchain networks like Ethereum and Cardano.

Crypto

Crypto, short for cryptocurrency, is a digital or virtual asset designed to work as a medium of exchange. It uses cryptography to secure and verify transactions and to control the creation of new units. Unlike traditional currencies, which are backed by governments or financial institutions, cryptocurrencies operate on decentralized systems such as blockchain technology. This means that they are not controlled by any central authority and can be transferred directly between individuals. Crypto has become more mainstream in recent years, with many businesses and individuals using it as a means of payment or investment.

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