Explained: What Is Secret NFTs? How To Buy, Sell, and Bid Secret NFTs + FAQs

NFT stands for Non-Fungible Token used to certify the authenticity and ownership of certain smart contracts.

NFTs are generally unique and shielded with security – making it worthwhile for creators to give them full control over their work and significant opportunity to get more creative than in the past days.

It’s a primitive security technology that protects creators from hackers and scammers.

But why is NFT called Secret or Secret NFT?

Secret NFT is a term given to NFTs’ characteristics of providing extra privacy features. It also observes as a private NFT because of private metadata and private ownership.

In other words, an NFT with additional privacy features including proprietary metadata and ownership is known as Secret NFT.

The use of secret NFT reassembled for various purposes. Basically, it is used where non-private NFT fails to do such as embedding secret links to content or creating game items with hidden abilities.

How does Secret NFTs work?

These private NFT uses the SNIP-721 standard which is the smart contract standard for Secret NFTs, incepted after Ethereum’s ERC-721 principle.

The standard provides the option to make ownership private and an optional private metadata field.

Inside Secret NFT, the digital identities and assets are by default encrypted. This means creators whatever content they input, output, or state are encrypted in advance.

When it is shared with another network, it’s also encrypted and hence requires permits and viewing keys to access the Secret NFT.

Getting your first Secret NFT

There is not a wide market dedicated to Secret NFT accessibility and working. There are only a few Secret NFTs Marketplaces which are mentioned below:

Stashh: Stashh is to be claimed as the world’s first marketplace for NFTs with privacy by default. The marketplace offers trending deals, dynamic content, and much useful information to NFT creators and buyers.

Legendao: Governed by DAO, the platform is one of its kind and specifically designed for top creators. You can access versatile NFTs of unlike artists with a gamified experience.

How To Buy Secret NFT on Stashh

Buying secret NFT or secret cryptocurrency is easy and simple. Here’s how you get started buying secret nft on Stashh.

Step 1 – Visit the Stashh website

Search for Stashh on a search engine, and head over to the Stash homepage.

Step 2 – Select “Marketplace”

Open Marketplace of the Stashh (appear on the top of the menu section) and browse NFTs by applying filters, kinds of collections, prices, and ranges.

Step 3 – Ensure you have enough sSCRT to buy

You can check public features, descriptions, price history, and rank of the chosen NFT. In order to buy, click on “Buy now with SCRT” and if sufficient SCRT is available, it lets you own the NFT. To add SCRT, head over to the “Get SCRT page” to explore the best options.

Step 4 – Buy the NFT

After adding the SCRT to your wallet, now all left to do is click on “Buy Now”. Upon clicking you would see an announcement saying to authenticate to continue. Click on “Create permit and Authenticate”.

After authenticating, you will receive a memo. Click on “Approve” to successfully purchase the NFT.

Step 5 – At last, verify proprietorship

At last, you need to verify the NFT you bought recently. Go to the Dashboard and you will be able to see your collections.

To verify, you need to create a permit. Follow the instructions and when it’s done your NFT will show up in your dashboard.

How To Sell Secret NFT on Stashh

Congratulations, you just brought a new Secret NFT on Stashh.

At some point, you may want to sell NFT again. So, here’s how to sell Secret NFT on Stashh in the most feasible way.

Step 1 – Fill up the sale list

You can sell desired NFTs on Stashh from the dashboard. Go to your collection resources and choose the NFT you want to make over with. Upon selecting an NFT you will see a menu presenting information, as well as context for selling an NFT.

Now enter the decent selling price you may want to sell at and place it in the “I want to sell for” box. The algorithm then will tell you the earning price after deducting royalties and the sale fees.

Step 2 – Verify the transaction

Click on the “List for sale” button and pay a nominal gas fee for the transaction. A gas fee is a blockchain transaction fee collected by the validator for their service offering.

Upon successful verification, you will see a notification like this:

After this, verify that your NFT is listed

Next, you have to be sure that your approved transaction has been listed in the marketplace. To confirm, go to the Marketplace and make sure to filter on the right collection.

How To Bid On Secret NFT

You may like this if you don’t want to buy a Secret NFT directly. Interested users can buy secret coins through an auction also known as a bid.

Herein, the initial price is allocated. And interested users place bids above the settled price. Once the bid period escalates to an end, the person who places the highest bid gets the odd (i.e NFT)

Here’s how to place a bid on Stashh:

Yeah! That’s all

You have just learned how to buy, sell, and bid a Secret NFT on Stashh.

Let’s get some inspiration by looking at the use cases Secret NFTs enable.

Use Cases Where Secret NFT Enabled

Following are the major fields where NFT making its greatest leap every year:

• Art & Collectibles
• Digital Media
• Gaming Industry
• Real-life Applications

Secret NFTs are also used to buy virtual lands on the Metaverse. Many brands have done it already and many more will do in future.

In The End

NFTs are like escalator ladders, keep going up!

Through this blog, you have gained knowledge about Secret NFT and its working. Now you feel confident and tempted to buy your first Secret NFT.

So, why don’t you give it a try to buy a Secret NFT?

Good luck! Don’t forget to check these blogs:

👉 Tools To Access The Metaverse
👉 Best Metaverse Games to Play
👉 Best Meta Quest 2 Accessories

Frequently Asked Questions