What are the most common NFT terminologies used in the cryptocurrency industry?

1 answers

• Petty HuynhOct 19, 2023 · 2 years ago
  Certainly! Here are some of the most common NFT terminologies used in the cryptocurrency industry: 1. NFT: Non-Fungible Token, a digital asset that represents ownership of a unique item. 2. Gas: The fee required to execute transactions on the Ethereum blockchain. 3. ERC-1155: A multi-token standard on the Ethereum blockchain that allows for the creation of both fungible and non-fungible tokens. 4. Wallet: A digital storage solution for cryptocurrencies and NFTs. 5. IPFS: InterPlanetary File System, a decentralized protocol used for storing and sharing NFT data. 6. OpenSea: The largest NFT marketplace where users can buy, sell, and discover NFTs. 7. Rarity.tools: A website that provides analytics and insights into the rarity of NFTs. I hope you find this helpful! Let me know if you have any more questions.
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