Namecoin Identities -Emblem Vault Creation Guide
Detailed Guide: Trading Namecoin Identities on OpenSea and LooksRare via Emblem Vault
If you own Namecoin Identities and want to trade them on popular NFT marketplaces like OpenSea and LooksRare, you'll need to utilize the Emblem Vault (EV) curated collection. This guide will walk you through the process of creating a vault and enabling your Namecoin Identities for trading.
Step 1: Access the Emblem Vault Creation Page
- First, navigate to the Emblem Vault creation page. This is the hub where you'll set up your vault to store and trade your Namecoin Identities.
Step 2: Select the dot_id Option
- On the vault creation page, you'll see a dropdown menu with various options. Look for the **dot_id** option, which is specific to Namecoin Identities. Select this from the list to ensure your vault is properly configured for Namecoin assets.
Step 3: Create an Empty Vault
- After selecting dot_id, choose the Empty Vault option. This will create a new, blank vault that is ready to receive your Namecoin Identities asset.
- Click the Create dot_id Vault button to generate your vault.
Step 4: Send Your Namecoin Identity to the Vault
- Once your vault is created, you’ll receive an NMC address associated with the vault.
- Scroll down and you will see the NMC address option. Click on it.
- Send your Namecoin Identities asset to this NMC address from your Electrum NMC or Namecoin Core wallet. This step effectively transfers the asset into the vault, enabling it to be traded on platforms like OpenSea and LooksRare. Once the Namecoin Identity asset has been transferred and reflected in the curated collection’s vault, mint the vault by paying $20 to the Emblem protocol, no COVAL required for now. This requires a gas fee payment on the Ethereum blockchain too.
Step 5: Let Emblem Vault Work Its Magic
- After sending the asset to the vault, Emblem Vault will automatically handle the necessary configurations. This process ensures that your Namecoin Identity is properly packaged within the vault and ready for trading.
- No additional manual setup is required on your part. Emblem Vault simplifies the process and performs automatic authenticity verification, making it easy for you to manage and trade your Namecoin Identities. It’s advisable to keep 1 NMC in the vault for auto-renewals as Namecoin assets expire after 36,000 blocks or 8 months.
Step 6: Start Trading on OpenSea and LooksRare
- Once the vault is created and your asset is transferred, your Namecoin Identities are now tradable on OpenSea and LooksRare.
- You can list your identity for sale, bid on other assets, and participate in the broader NFT marketplace just like any other ERC-721 token..
Additional Tips:
- Double-Check Details: Ensure that you’ve selected the correct options and that your asset is correctly transferred to the NMC address provided.
- Stay Informed: Follow Emblem Vault Twitter to keep track of any new features or changes that might enhance your trading experience.
By following these steps, you can unlock the full trading potential of your Namecoin Identities and take advantage of the growing NFT ecosystem on OpenSea and LooksRare. Happy trading!
