In this post, I am going to show you how to buy Stacks Punks. This was my first purchase of digital art, so you’re getting the process step-by-step from a rookie in easily outlined steps everyone can understand. The NFT party may have already started, but at least I’m here and so are all of you reading this. And it turns out we’re all actually a bit early, since the vast majority of people still aren’t aware of what NFT’s are, or the disruptive effects they will have on our entire financial system moving forward.
So, it was Sunday afternoon and I was wrapping up my research for the day when I checked out @BowTiedFellow.btc on Twitter. He posts timely updates on the Stacks protocol and even though I’ve only recently started following, he seems legit!
His feed had some sweet memes and some solid intel on Stacks (STX). Our returning readers know that we have devoted quite a few posts to the amazing, revenue generating Miami Coin (MIA). MIA is powered on the Stacks protocol. Our team believes that both STX and MIA are game-changers. I found a ton of useful intel on his feed. Here is the tweet that moved me off the sidelines and into the NFT game:
I do not have hundreds of Ether (ETH) in my wallet that I can use to purchase NFT art on OpenSea. I’ve never purchased an NFT of any kind. But after reading that tweet I decided to take a look at Stacks Punks to see if that’s where I wanted to start testing the NFT waters.
For those of you who are beginners like myself, you might not be sure of what an NFT actually is. NFT stands for non-fungible token. It means that what you have is exclusive, and unique, even though it can be seen and enjoyed by many others. After all, when it comes to NFT art, anyone with WiFi can enjoy it. So what’s the upside for those who own an NFT? That ownership is now recorded and certified on the blockchain. They now retain digital ownership rights to that meme, punk, penguin, or whatever is hot in the NFT streets right now. Depending on several factors including the popularity and rarity of a particular NFT, that can be a pretty huge flex.
I’ll teach you how to buy Stacks Punks step-by-step. Before that, you have to fund your wallet. Here’s how I did it:
Funding Your Hiro Wallet
- I browsed the Stacks Punk Marketplace for a sweet punk. What factors am I looking for exactly? Hell if I know! I’ve only seen punks in my feed. I have no idea how to grade rarity or what makes a 10000 STX punk much more valuable than a 59 STX punk (current floor value). So, with a nod to Brian Bosworth, I decided to grab one with a mohawk.
- You need a wallet to purchase NFT’s from the Stacks Punk Marketplace, so I installed a Hiro Wallet at Hiro.so and added it to Google Chrome on my desktop. The process took seconds and was very quick and painless even for a total rookie. They will give you a 24 word seed phrase that will be the “keys” to your wallet, should you ever forget your password. New people, please take note, DO NOT LOSE THIS and do not give it out, ever. Only you will have this key and this is the only method to recovering your wallet. You should keep this written somewhere safe where only you can access it.
- I transferred some of my Stacks crypto (STX) from my OKCoin account. You can purchase STX on KuCoin and OKCoin. We prefer OKCoin and you can get $50 of Bitcoin by clicking on this link (for details, read our message at the end of this blog).
- On OKCoin choose Withdrawl. On the Select Currency tab choose STX. For Method choose On-Chain.
- Go back to your Hiro Wallet and click “Receive.” A very long Wallet ID will pop up, just click copy.
- On OKCoin paste that long number into the STX Address you are sending it to.
- Choose the amount you will send. At this time the floor value (lowest price) is 59 STX, so you’ll need to send more than that depending on the Stacks Punk you have in mind.
- Click Trading Account. It will show a Network Fee of 0.5 STX (around 70 cents as of today). Another side note: This is incredibly inexpensive compared to the ridiculous gas fees that you can incur on the Ethereum blockchain.
- I like to re-check my details prior to transfers. You can do this by making sure that the first four and last four alphanumeric digits are the same on your Hiro Wallet as it is on the OKCoin transfer link. One digit off and your Stacks disappear into the ether. If you’d like to test it first, send a few STX and make sure it transfers properly.
- Enter your Funds Password and send it!
Okay, so you’ve sent your STX to your wallet. Those steps should only have taken you a few minutes. Now, let’s see how to buy Stacks Punks.
Where do I Buy a Stacks Punk NFT?
You can get them at the Stacks Punk Marketplace on Stacks Art. If you’re looking for more NFT art on the Bitcoin blockchain, Stacks Art has other interesting projects. Bitcoin Birds, a collection with a skyrocketing floor price was actually minted by a 12 year old. For those willing to part with a considerable amount more of their STX to secure digital art, check out and Phases of Satoshi which indulges in artistic variations of the possible physical appearance of Bitcoin creator, Satoshi Nakamoto. Even if you’re not looking to buy them, it’s worth it to take a look at other examples of emerging digital art on Stacks.
How To Buy Stacks Punks
- Check your Hiro Wallet. It took my STX about 30 minutes to arrive, so don’t worry if it’s not there right away.
- Once your STX arrives in your wallet… time to go shopping!
- Find your Stacks Punk and click Buy (it will automatically connect to your wallet).
- A new window will pop up outlining the smart contract including Functions and Arrangements. There will be a 2.5% Sellers Commission.
- Once you click Confirm, you will be directed to your “receipt,” if you will. You’ll see all the technical details like the Bitcoin block height, Bitcoin block hash. You’ll also see the “conditions” of the smart contract, an outline of your trade looking something like this:
Transfers no more than (purchase price) STX
tacks-punks-marketTransfers 1 u (followed by the number of your Stacks Punk NFT)
This basically outlines the terms of the deal executed without human intervention via smart contract (one reason why NFT’s are about to change our financial systems forever). If and when you’re ready to sell your Stacks Punk, you can list it back at the marketplace.
How Much Does a Stacks Punk Cost?
Right now, the least expensive Stacks Punk (floor price) will set you back 55 STX and we can expect that to fluctuate. As for a long-term price prediction… who knows! But as we’ve said here many times, we are huge fans of the Stacks protocol. Not only are they powering City Coins and one of our personal favorites, Miami Coin, but STX is bringing the utility of Ethereum to Bitcoin and that’s far beyond massive. So even if Stacks Punks doesn’t take off, I’ve got myself a sweet avatar that’s mine (you can see my Stacks Punk on our Twitter page) on the blockchain forever or until I decide to part with it. Maybe it’ll be worth nothing at all, but we’re willing to make a small bet on the potential for so much more.
STX (and of course, MIA Coin) is now available for purchase on OKCoin. You can start investing in STX today and receive a FREE $50 in Bitcoin for signing up with OKCoin. Click on that last sentence for more details.
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