How to Purchase Namecoin Assets on OpenSea
Emblem Vault is available on multiple Ethereum NFT Marketplaces, with most volume traded taking place on OpenSea. Therefore we will use OpenSea as the example.
Disclaimer: Namecoin assets expire every ~8 months and require the user to re-register the asset via the Namecoin Core Wallet or users can use Emblem Vault’s Auto-Registration system that requires a minimum of 1 NMC stored inside of the vault (System is still in Beta)
1) Type in “Emblem Vault” in the OpenSea search bar.
2) Ensure you’re clicking on the correct Ethereum Emblem Vault. There is also an official Polygon Emblem Vault. The others listed are not affiliated with Emblem Vault and should be avoided at all costs.
Security is our top priority and to ensure we are following the safest practices there are additional steps required to ensure you are interacting with the official Emblem Vault collection.
1) Check the Smart Contract on Etherscan.
Official Contract Address: 0x82C7a8f707110f5FBb16184A5933E9F78a34c6ab
2) Click on the collection label to ensure it’s displays a “Badged Collection” with a blue checkmark and a “Mintable Collection” with a yellow exclamation point.
3) Check to see how much ETH Total Volume has been traded. The minimum will display over 36,000+ ETH
4) Check to see how many Owners there are. The minimum should display over 6,000+ owners.
Now you’re ready to search for Namecoin Assets.
1) Type in “all nmc” into the search bar. This will give you a result for all Counterparty NFTs that have been vaulted.
2) Click on “ALL nmc”.
1) Click on the Counterparty asset you are interested in purchasing.
NOTE: There are many variations of Namecoin Collections with nearly 60,000 tokens created from 2011–2017. Here is a list of Namecoin Collections that you can individually search for to narrow down your results.
It is very important that as a potential buyer that you VERIFY the asset inside the vault is the specific NFT you are looking for. Emblem Vault is a permissionless product that allows users the ability to label assets at their discretion, as well as freely send any asset into their vault regardless of what has been labeled. Here are three verification methods to ensure you are purchasing what is described at on the OpenSea storefront.
1) Click on “View this NFT on Emblem.Finance” to view the contents inside the vault.
2) Click on the “XCP Explorer” to view the asset’s status on the XCP Explorer.
3) Check do see the asset is listed under the correct search “All NMC”.
4) Check to see if the asset is listed under the correct blockchain “Namecoin”.
5) Check to see if the token displays “Unclaimed” under “Status” in the Properties Tab.
1) If the same Namecoin assets are displayed under “Balances” then the vault does in fact hold an asset.
2) Ensure that the Name of the NFT properly matches up to the asset’s name in the description, on the block explorer, and is the correct token you are looking to acquire.
Tip: Bad Actors have the ability to mimic an assets likeness by minting a brand new asset and uploading the same NFT image but changing the name by a letter or two. As Namecoin was the first altcoin that was created in 2011 there are a handful of ways to trick an unknowing buyer so always check the Namebrow.se log can be viewed by clicking on “View NFT” under the asset.
1) Once you open up Namebrow you will want to identify the tokens first registration date and URL link associated with it.
2) To view the assets image you will paste in the URL into web browser and it will display the image of the asset that was registered at the time period to the left.
1) Once you’ve pasted in the URL and click enter your asset will be displayed at the center of the web page.
Once the vault contents has been verified you are ready to purchase your Namecoin Asset!
1) Click on “Add to cart” and then checkout in the top right corner to follow OpenSea’s purchasing process via your MetaMask transaction.
If you’d like to learn more about Emblem Vault checkout the links below: