What is an nft?
NFT is a non-fungible token or non-exchangeable digital protected object.
It represents unique and irreplaceable item (piece of data) stored in a blockchain and
cannot be copied or exchanged.
Examples of NFTs may include digital art, art, images, sounds, videos and other types of
digital files (e.g. collectibles, virtual reality items, crypto domain names, ownership
records for physical assets, and more).
It allows the buyer to be the sole owner of the original item, with built in
authentication and proof of ownership.
As an analogy you can imagine a masterpiece that physically exists only once as the
original work as an exhibit in an art gallery or is in a private ownership (e.g. Mona
This makes the creation and circulation of fake digital objects pointless because each
item can be traced back to the original issuer. People call this exclusivity as a
“digital bragging right”.
NFTs are certificates that attest to the authenticity, uniqueness and ownership of a
digital asset and can not be replaced with other goods of the same kind.
What is a blockchain?
Blockchain is a tracking technology that creates a permanent, public, transparent ledger
system for recording sales data, tracking digital use and payments to content creators.
These information records are created in a way that makes it difficult or impossible to
change, hack, or defraud it.
This is basically a digital book of transactions that is duplicated and distributed
throughout the network of computer systems on the blockchain.
What is the Cryptocurrency Wallet?
First you need to create a wallet. A Cryptocurrency wallet is a safe avenue where users can store their digital assets and funds. It can be used to send and receive money easily and help to possess full control over crypto holdings. There are lots of different wallets to choose from. We want to help you choose the best one for you.
What is the MetaMask
This is a cryptocurrency wallet used to interact with the Ethereum blockchain. The wallet includes a key vault, secure login, token wallet, and token exchange. It can be accessed through an app or through a browser extension. When you're interacting on the decentralized web, MetaMask provides you with full control
What is a backup phrase
Your secret backup phrase allows you to import your MetaMask wallet and it’s extremely important to protect these data. The best way how to keep your Backup Phrase is to write it down on paper & store in a safe place.
What is Wallet Address?
The Ethereum address is the "public" address that you would need to receive funds from another part.
A wallet is an interface that you may use to manage your Ethereum account as well as its public and private key pair.
An Ethereum address is a 42-character hexadecimal address derived from the last 20 bytes of the public key controlling the account with 0x appended in front.