🔐 Safety & Security
"The more intelligent a person is, the more elaborate their defenses, both in shielding from unpleasant memories within and from unpleasant stimuli without."
One of the most common reasons people are scared to enter this space is because of all the opportunities to get scammed. There is currently no direct state regulatory guidance on NFTs. Bored Ape Solana Club does their very best to educate all NFT enthusiasts about some of the potential red flags or hazards to look out for. It can be very intimidating for someone to enter this space without having guidance. Making sure your funds and NFT's are safe is the biggest priority.
- 2.There are three types of Ledgers to use: Nano S, Nano S Plus, & Nano X.
- 3.When you receive your device, you will be prompted to set up your device. Please make sure to keep your seed phrase and password in a safe place you will not forget. Make sure to download the Ledger Live application to your desktop. Follow the instructions to sync your Ledger and install apps like Solana to your device.
- 4.In order to connect your ledger to your Phantom Wallet, go to "Add / Connect Wallet".
- 5.Next, click “Connect Hardware Wallet” and follow the prompts provided. Please ensure your Ledger is connected and unlocked. After this step you should be all set up and can now breathe with this extra layer of protection for your NFT assets. To stake on your ledger you must go to settings and select "Allow Blind Sign". This feature is only required when signing transactions that involve smart contracts.
BASC hopes to put out more content and create things in the future that holders can all be proud of and have outlined many of our intentions as such. However, the landscape around DAOs and various other things we are hoping to do is shifting and legally gray in many ways. When an individual purchases an BASC NFT, they agree that their purchase of the artwork is all they are guaranteed to receive in exchange for funds. We make absolutely no promise or guarantee that these NFTs will be worth anything more than what the market deem the art to be worth. In theory, NFTs can represent almost any real or intangible property, including artwork, music, videos, collectibles, trading cards, video game virtual items, or even real estate. In sum, an NFT is the digital version of a certificate of authenticity, embodied in the blockchain. BASC holders are responsible for any tax liability which may arise from reselling their BASC. If you are a NFT creator, make sure you are not creating NFTs using someone else's copyrighted content. Likewise, if you the NFT holder, do not use your NFT in a way that may violate the terms.