NFT

NFT Glossary Deep Dive: Mint

NFT Glossary Deep Dive: Mint

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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NFT Glossary Deep Dive: Crypto Wallet

NFT Glossary Deep Dive: Crypto Wallet

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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NFT Glossary Deep Dive: Unlockable Content

NFT Glossary Deep Dive: Unlockable Content

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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NFTs: Which is better – Art, gaming, or collectibles?

NFTs: Which is better – Art, gaming, or collectibles?

Troy Warren for CNT #NFT As of August, there have been over 1 million NFTs in circulation. The mainstream creator and consumer market for NFTs has exploded since the start of 2021, with the future of NFTs and their full potential yet to be seen. 3 of the most common types of NFTs being bought, sold, and exchanged in the market right now are art, gaming, and collectible NFTs, each with their own unique set of qualities and community backing them. Of all the most expensive NFTs sold so far, most of which were art NFTs, with collectibles running a close second, and…
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First SMS sells as NFT, worth over €107,000

First SMS sells as NFT, worth over €107,000

Troy Warren for CNT #NFT Vodafone  auctioned off the world's first-ever text message to an unidentified buyer for €107,000. The one-of-a-kind NFT was auctioned off earlier this week in Paris for 132,680 Ether. The proceeds from the sale, according to Vodafone, will be donated to the United Nations Refugee Agency, which assists individuals throughout the world who have been displaced from their homes. Vodafone claims that the NFT is the world's first SMS. The text message, which was first sent on December 3, 1992, was sent by programmer Neil Papworth to his fellow coworker Richard Jarvis almost 29 years ago. Because of the ongoing festive season at the…
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‘NFT’ wins over ‘Crypto’ and ‘Bitcoin’ in Google search.

‘NFT’ wins over ‘Crypto’ and ‘Bitcoin’ in Google search.

Troy Warren for CNT #NFT The excitement around non-fungible tokens (NFTs) is one of the most noticeable events in crypto in 2021. According to Google Trends, a platform that measures the most popular search terms used by Google users, "crypto" is no longer the most popular search term on Web3. According to Google Trends data, for the first time ever, in mid-December 2021, ‘NFT’ exceeded ‘crypto’ in terms of the number of searches on Google for  US internet users. On Google Trends, NFTs have already exceeded Bitcoin, the crypto king, in some locations renowned for strong levels of cryptocurrency adoption (CIS, Africa, Asia Pacific). For…
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NTF Glossary Deep Dive: Smart Contract

NTF Glossary Deep Dive: Smart Contract

Ellen Britt for CNT #NFT Next up in our series exploring terms in our NFT glossary is the concept of smart contracts. Our glossary explained that a smart contract is the part of your NFT that’s not the artwork or the other actual digital asset, it’s the program on the blockchain underlying the NFT that controls its ownership and transactions. The Smart Contract So what is it exactly about this program on the blockchain that makes the contract “smart?” The code is written in such a way that the contract executes all or part of an agreement, such as the…
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NFT Glossary Deep Dive: Non-Fungible

NFT Glossary Deep Dive: Non-Fungible

Ellen Britt for CNT #NFT If you have read our glossary of terms related to NFTs, you may be wondering what the heck does “non-fungible” mean exactly? Well, we’ve got you covered with our series exploring in more depth all the terms listed in the glossary and more. What Is Non-Fungible? So, let’s get back to the meaning of non-fungible. First of all, to understand this, it helps to look at the word “fungible.” The word itself comes from the Latin verb “fungi” which means “to perform.” And no, it’s not related to the word “fungus” and to its plural…
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The Future of NFTs in Video Games

The Future of NFTs in Video Games

Troy Warren for CNT #NFT Just last month, the Axie Infinity game became the first NFT project to hit $1 Billion in sales.  For the uninitiated, Axie Infinity is a play-to-earn decentralized game with similar mechanics to Pokemon. Players would collect and fight creatures called Axies, to win in-game rewards called Smooth Love Potions, which they could then use to breed more Axies.  Both Axie creatures and the Smooth Love Potions are NFTs, which means they can be sold on secondary markets for money. Because the game only takes a 4.25% fee, roughly 95% of the game’s revenue goes back to the…
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