In my newsletter entitled “Delayed Rays of a Star” published earlier today I made a couple of technical statements about the NFT process that were incorrect. Fortunately I have some NFT collaborators who quickly set me straight and I want to correct them with you here.
First, I said that the transactional costs - so called “gas” - to mint the NFTs were paid to OpenSea and that’s incorrect. What I should have said is this:
While the NFTs were free there is a transactional cost to mint them that goes in this case to Ethereum.
Secondly, I said that the trading and the drop occurred on OpenSea. What I should have said is that the drop occurred directly through Fellowship Trust - the group responsible for the August Sander Archive 10k+ NFT initiative. OpenSea is the platform where the bulk of secondary market trading is primarily being done now.
I apologize for these errors. I will watch my NFT Ps & Qs more closely in the future.
Thank you!