Web3

The next generation of the internet that aims to be decentralized, giving users more control over their data and online interactions.

NFT (Non-Fungible Token)

A digital asset that represents ownership of a unique item, often used for digital art, collectibles, and virtual real estate.

Blockchain

A decentralized digital ledger technology that records transactions across a network of computers, providing transparency and security.

Cryptocurrency

Digital or virtual currencies that use cryptography for security, with Bitcoin and Ethereum being prominent examples.

Smart Contract

Self-executing contracts with predefined rules and conditions written in code, automating transactions on blockchain platforms like Ethereum.

Gas Fee

The cost of executing a transaction or smart contract on a blockchain network, typically paid in cryptocurrency.

Wallet

A digital tool used to store, manage, and interact with cryptocurrencies and NFTs.

Minting

The process of creating and tokenizing NFTs, often done by artists and creators.

IPFS

(InterPlanetary File System). A decentralized protocol for storing and sharing hypermedia content across a distributed network.

NFT Marketplace

Online platforms where users can buy, sell, and trade NFTs, such as OpenSea or Rarible.

NFT Royalties

A percentage of future sales that creators receive when their NFTs are resold on secondary markets, ensuring ongoing compensation for artists.

Decentralized Exchange

A cryptocurrency exchange platform that operates without a central authority, allowing users to trade digital assets peer-to-peer.

NFT Standards

Technical specifications and standards (e.g., ERC-721, ERC-1155) that define how NFTs should be created and interact with other platforms and applications.

Wrapped Token

Tokens that represent other assets, typically cryptocurrencies like Ether or Bitcoin, on a different blockchain, enabling cross-chain compatibility.

NFT Metadata

Descriptive information, images, and attributes associated with an NFT that provide context and uniqueness to the digital collectible.

Stablecoin

A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset like the US dollar (e.g., USDC, DAI).