NFTTerms

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
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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Dec
24
2021
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By Ellen Britt
NTF Glossary Deep Dive: Smart Contract

NTF Glossary Deep Dive: Smart Contract

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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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Dec
23
2021
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By Ellen Britt
NFT Glossary Deep Dive: Non-Fungible

NFT Glossary Deep Dive: Non-Fungible

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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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