What is an NFT?
Written by Anna Muni
Updated over a week ago

What is an NFT?

A Non-Fungible Token is a non-interchangeable unit of data stored on a blockchain. NFTs transform digital artworks into unique verifiable digital assets.

What is an NFT Drop?

An NFT Drop is the release of a new digital token for sale to investors and refers to the date and time during which a specific NFT or collection of NFTs becomes available.

What is a smart contract?

A digital contract with the terms of the agreement between the seller and the buyer is directly written into lines of code and automatically executed when predetermined terms and conditions are met which automates a workflow triggering the next actions. Smart contracts permit trusted transactions that exist on a decentralized blockchain network. The code controls the irreversible and trackable execution of the sale.

What are Gas Fees?

The price for making a transaction on the Blockchain.

What is Minting?

The process of creating an NFT on the Blockchain.

Learn About Ethereum Wallets

An Ethereum wallet is an application that allows you to manage your account, and ETH - the name of the cryptocurrency. Through your wallet, you can read your balance, send transactions, and connect to applications. Since your wallet is only a tool to manage and does not have custody of your funds, you can swap providers at any time.

These wallets are both physical hardware wallets that allow you to keep crypto offline, and digital wallets that are accessed through mobile applications and web browsers.

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