Ellen Britt

202 Posts
Jan
04
2022
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By Ellen Britt
NFT Glossary Deep Dive: Rug Pull

NFT Glossary Deep Dive: Rug Pull

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Ellen Britt for CNT #NFT When someone says “rug pull” in the NFT world, they are referring to when a project developer cheats everyone by absconding with the money from their NFT sales and does not continue the project. Yikes! In many cases, these scammers will drum up a lot of false hype and talk on social media channels such as Telegram and Twitter, and may further lure investors into a false sense of security by putting a sizable amount of money into the liquidity pool. Four Ways To Protect Yourself From A Rug Pull So how can you protect…
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Jan
03
2022
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By Ellen Britt
NFT Glossary Deep Dive: Reveal

NFT Glossary Deep Dive: Reveal

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Ellen Britt for CNT #NFT Many collectible NFT projects use what are known as placeholder images for their NFTs while minting is in progress. The actual artwork is only revealed once the collections are sold out.  There are a couple of types of drops, which use different reveal strategies: Sock It To Me!   One - The Delayed Reveal: Collectors mint the NFT’s placeholder image, then the actual NFT is revealed at a later date. Two - Revealed Upon Mint:  Collectors immediately see the final NFT so soon as they mint from your drop page. Both types of reveal have their…
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Jan
02
2022
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By Ellen Britt
NFT Glossary Deep Dive: Burn

NFT Glossary Deep Dive: Burn

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Ellen Britt for CNT #NFT To burn an NFT is to permanently delete it. When an NFT is burned, the NFT is sent to a blockchain address that is not spendable. Think of an unspendable address like a black hole on the blockchain where nothing ever comes back out. The First Law of NFT Thermodynamics So in reality, you can’t ever really and truly delete an NFT, because once it has been minted and published to the blockchain it’s permanent. To burn it simply means that it has now been assigned an unspendable address. The NFT is not destroyed, it’s…
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Jan
01
2022
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By Ellen Britt
NFT Glossary Deep Dive: Airdrop

NFT Glossary Deep Dive: Airdrop

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Ellen Britt for CNT #NFT An airdrop is when an NFT is dropped into your wallet for free! Many projects do this to reward their early adopters and active participants. Just to be clear, don’t confuse  an NFT airdrop with Apple’s AirDrop feature, which you can enable to share and receive pictures, documents, and other types of files with other Apple devices that are in proximity to you. NFT Airdrops As Rewards An NFT airdrop is used primarily as a marketing tool by the developers of a project, in which they drop NFTs into a list of wallet addresses to gain…
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Dec
31
2021
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By Ellen Britt
NFT Glossary Deep Dive: List

NFT Glossary Deep Dive: List

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Ellen Britt for CNT #NFT In the simplest terms, to list an NFT is to submit it for sale on an NFT marketplace by making a listing. But exactly what does this mean? Let's get a closer look at this term from our NFT Cheatsheet. Listings are the NFTs that are up for sale on a marketplace. If you have ever sold anything, such as an item on eBay or even advertised a garage sale in your local newspaper or put a notice about the sale on Craig’s List, you first had to list the item for sale.  A Clear…
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Dec
29
2021
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By Ellen Britt
NFT Glossary Deep Dive: Gasless Minting

NFT Glossary Deep Dive: Gasless Minting

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Ellen Britt for CNT #NFT When you mint an NFT, you will usually incur fees, called gas, from the blockchain. And just like intestinal gas, these gas fees can be painful. We’ll show you how to escape the gas! A so-called “gas” fee is incurred when you mint your NFT. Since Ethereum is the preferred blockchain these days on which to mint your NFT, the blockchain network is extremely busy. Of course, more demand equals higher fees, and lately, some of those fees can be exorbitant. Gasless Minting However, there is another option, known as gasless minting, which allows you…
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Dec
28
2021
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By Ellen Britt
NFT Glossary Deep Dive: Mint

NFT Glossary Deep Dive: Mint

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Ellen Britt for CNT #NFT Minting an NFT is the process of actually publishing your NFT on the blockchain. Now that your NFT is published it can be sold. But what does minting an NFT actually involve? First of all, you need to have access to a crypto blockchain as well as an NFT marketplace. Basically, and in the simplest of terms, it means creating a digital wallet that can securely store cryptocurrencies such as the wallets provided by Coinbase, MetaMask, or TrustWallet. Then, you can purchase some cryptocurrency to cover the actual cost of minting the NFT.  Create A…
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Dec
27
2021
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By Ellen Britt
NFT Glossary Deep Dive: Crypto Wallet

NFT Glossary Deep Dive: Crypto Wallet

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Ellen Britt for CNT #NFT To own an NFT, you need a crypto wallet, which is a specific address on the blockchain that only you control, and where your NFTs will live. You may have thought crypto wallets were only for cryptocurrencies, such as bitcoin or ethereum. But you’ll also need one when you purchase an NFT. A lot of people get confused when they hear about wallets and assume the wallets actually “hold” the cryptocurrency or the NFT, similar to the way a leather wallet holds a fifty-dollar bill. Wallets Don't Actually Hold The Asset But a cryptocurrency wallet…
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Dec
26
2021
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By Ellen Britt
NFT Glossary Deep Dive: Unlockable Content

NFT Glossary Deep Dive: Unlockable Content

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Ellen Britt for CNT #NFT As explained in our NFT Cheatsheet, unlockable content is a set of secret files and content that is only accessible by the first buyer of the NFT and unlocked only after the NFT has been purchased. Why would creators of NFTs want to put something like this in place? Well, for one thing, this is a fantastic way for creators to reward the very first buyers of that particular NFT and it also adds more value to the NFT itself. Examples of  Unlockable Content For artists who create and sell NFTs, these might be high-resolution…
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Dec
25
2021
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By Ellen Britt
NFT Glossary Deep Dive: Metadata

NFT Glossary Deep Dive: Metadata

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Ellen Britt for CNT #NFT Next up in our series exploring terms in our NFT glossary is the concept of metadata. Seems like everywhere you look these days, you see a reference to something called “meta.” The Metaverse is all the rage right now, where you can (supposedly!) meet your friends for drinks at a virtual bar. Or virtually visit the pyramids of Egypt or climb Everest, all without getting on a plane or risking life and limb.  The Greeks Got It! The prefix “meta” is derived from the Greek (those Greeks were way ahead of their time!) and literally…
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