Questions about Ethereum and blockchain technology

What are NFTs?

NFT stands for 'non-fungible token'. They are unique bits of data that are stored on a blockchain and that are not interchangeable. Similar, in a way, to how LTDs are unique and all have their own number in Habbo.

The key advantage of NFTs is that they can be used to track ownership of digital items. That is, with NFTs you can actually own digital art, collectibles or any other type of digital item. In addition, there cannot be two identical NFT objects; all NFTs must be unique. Sometimes NFTs are also used as keys to exclusive chat groups and even games. And it’s widely expected that there will be more and more new applications that utilise NFTs in the coming months and years.

A lot of NFTs – most of them at this stage, actually – are part of the Ethereum blockchain. A blockchain is a specific type of database, one that differs from a typical database in the way it stores information; blockchains store data in blocks that are then chained together. The data isn’t stored on a central database, it’s stored on many different machines in an almost unhackable, decentralised manner.


What are Habbo Collectibles?

Starting in September 2021, we’ve released a number of different NFTs all under the umbrella term “Habbo Collectibles” – Habbo Avatars, Habbo X rooms, and a series of items. Furni, clothing and other types of Habbo items that are fully usable in Habbo and live on Immutable, a type of separate blockchain that sits on top of and is directly connected to Ethereum (see above for more information about Ethereum).

One way to see them is as bits of digital Habbo merchandise. In the same way as if you bought a Habbo T Shirt in real life, you own that T Shirt. The only way someone else can own the T Shirt is if you sell it to them or give it to them. In the same way, Ethereum and blockchain technology in general ensures that you have total ownership and control over the digital items, or NFTs you buy. This exclusivity is what makes NFTs valuable as a product.


What is Ethereum?

Ethereum is a popular form of cryptocurrency, and it differs from others because it allows for more than just the exchange of the currency itself. Ethereum also allows for the storage of special metadata and identification codes that make it possible to distinguish between each NFT, making them entirely unique and almost impossible to fake or hack.


Do I need Ethereum in order to purchase a Habbo Avatar?

Yes, you need Ethereum to buy all types of Habbo Collectibles, although you can also use our ecosystem’s currency – NFTC – to buy the items we release directly from the Habbo Collectibles Shop. You will also need a cryptocurrency wallet called Metamask.


How do I get Ethereum?

Ethereum is available from a number of different places on the internet. However, we strongly advise that unless you know what you are doing, you have an existing crypto wallet that you are comfortable using, and you know the risks associated with cryptocurrency and the tendency of its value to fluctuate, you do not try to purchase Ethereum.


How do people get a crypto wallet?

Crypto wallets are free – there are many different types available. The one that is most widely known and is compatible with our Shop and Habbo itself is called Metamask. One very important thing to note is that we will never ever ask for your MetaMask password or the seed phrase. It is crucial that you will never give that information to anyone or store it digitally anywhere that can be seen by others, particularly on the internet.


Why can’t I just buy an avatar or a Habbo Collectible with real money? I don’t want to have to buy Ether (ETH) to buy one.

All items we release into the Habbo Collectibles ecosystem, including already released ones like Habbo Avatars and Habbo X rooms are on the Ethereum blockchain. This means that buyers need to use ETH to claim ownership of the avatars we will be releasing.

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