A blockchain is a database of transactions, where updates are securely shared across a large network of computers. Transactions, or data, is added in periodic “blocks” which is where the name blockchain is derived from. Transactions on an established blockchain are unable to be modified, making them a secure system of record. Bitcoin and Ethereum are two of the most well-known blockchains.

Digital tokens can provide proof-of-ownership of a unique collectible, offer access to experiences, and allow participation in community governance. Digital tokens can be purchased and sold on a blockchain, using cryptocurrencies, ensuring a reliable system of record to confirm ownership of a digital token.

A seed phrase, also known as a recovery phrase, is a list of 12 to 24 words that provide the holder access to a digital wallet. The seed phrase is primarily used as a backup that can be used to recover a digital wallet in the event it is lost or access is otherwise no longer available. A seed phrase can also be used to transfer your digital wallet to a new device (e.g. if you replace a hardware wallet). Anyone who knows your seed phrase can access your digital wallet and its contents – it is imperative you are cautious and safely store your seed phrase so that only you can access it. One best practice is to never store your seed phrase digitally and to keep a hard copy in a secure location.

The PUNKS Universe uses the Ethereum blockchain, and the native cryptocurrency Ether (ETH).

Marketplaces enable creators and collectors to safely buy and sell previously minted digital assets. This differs from minting new digital assets which would be a direct sale between a project and its collectors.

Cryptocurrency, or crypto for short, is a fully-digital form of money that relies on cryptography to securely register transactions on a blockchain. Cryptographic techniques have been used for centuries to secure messages and financial transactions. Modern-day cryptocurrency allows goods and services to be exchanged between parties without a third party (e.g. a bank).

Digital wallets are applications that allow you to view and interact with your blockchain assets, including digital tokens and cryptocurrencies. A digital wallet allows you to view your balance, send transactions and connect to applications. Digital wallets are cryptographically generated, and keep your blockchain assets secure from unauthorized access. Most digital wallets allow for self custody, ensuring management of digital assets and cryptocurrencies are your responsibility.
Getting started with a digital wallet only takes a few minutes. One of the most popular wallets on the Ethereum blockchain is MetaMask, which can be downloaded as either a browser extension on your computer or as an application on your mobile device. Once set up, MetaMask provides an account number, secure login options, and a seed phrase necessary to recover your account in the event you lose access to your device. For additional security, you may opt for a hardware wallet, which requires access to a physical device to make transactions from your account. Popular hardware wallets include Ledger, Trezor and GridPlus.

Ether can be purchased through an online exchange such as Coinbase. After you have purchased Ether, it can then be transferred into your digital wallet. Please be aware that online exchanges have limits on the amounts of Ether that can be bought and sold, as well as certain hold periods before Ether can be transferred, depending on the amount and method of purchase.

Existing PUNKS digital assets can be bought and sold anytime on the official Pixel Vault Marketplace. From time to time, new digital assets may be minted directly from the PUNKS website.