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NFT Dictionary Terms You Should Definitely Know

Salwa P



Before you step into the NFT world, it’s quite essential to look into the basic NFT Dictionary Terms. This would make your learning journey easier. NFTs are a new form of digital asset. They’re not necessarily cryptocurrencies – and they’re not quite assets. NFTs are unique, and each one has its own story to tell.

To get started with NFTs, you’ll need to understand some new terminology that comes with them.

In this article, we’ll explore some key concepts in the world of Non-Fungible Token (NFT) terminology and how it affects your trading experience!

Fundamental NFT Dictionary Terms:


The Metaverse is a blockchain-based computer-generated simulation stage. The Metaverse is a blockchain-based virtual world, the Metaverse is a blockchain-based virtual universe, and the Metaverse is a blockchain-based virtual space.


Tezos is a blockchain platform that is built on a proof-of-stake consensus mechanism.

Tezos basically addresses key barriers facing blockchain adoption for assets and applications. The Tezos blockchain consists of an evolving set of rules that govern the behavior of its networked participants, including developers, miners, stakers (validators), and users.

Gas Fee

Gas is the unit of estimation used to determine the cost of transactions on the blockchain. As new blocks are added to a blockchain, each block becomes part of a growing chain of blocks (hence, “blockchain”).


Minting is one of the primary words of NFT Dictionary terminologies.

Minting is the method involved in making another NFT.

The Mint fee is the cost associated with minting, which is paid to the platform where you create your NFT.

They can vary depending on the platform and may only be charged once or several times throughout a coin’s lifetime.

You can track more data about these in each specific token’s FAQ or help center on their website.

Gas war

Gas wars are notoriously common in the world of blockchain and NFTs, especially during a project launch or high-value sale.

When many people compete to get their hands on a specific NFT, the demand causes Ethereum transaction prices to spike due to network congestion.


The Solana Blockchain is a public, open-source blockchain built to host decentralized applications requiring high throughput and low latency.

The native cryptocurrency used on this blockchain is called SOL, which is what users pay to use the network.

The PoH consensus algorithm powers this network—the same algorithm used by Bitcoin’s Lightning Network (LN).

It works by hashing previous blocks to build a chain of proofs and secure transactions without relying on miners or mining pools.

-This means there’s no need for expensive hardware or specialized equipment.

-This isn’t just a pretty face; Solana provides an impressive amount of utility for developers looking for high throughput at low cost:

Non-fungible token

NFTs, are a sort of token that allows you to own unique digital assets. While something like Bitcoin is fungible (meaning each unit is interchangeable with other units), an NFT can’t be swapped out for another.

NFT Roadmap

An NFT roadmap is essentially a project team’s pitch deck. Fortunately, you needn’t bother with being an expert in NFTs or blockchain technology to create one; in fact, anyone using PFP projects should consider providing some form of a roadmap.

A well-planned roadmap always has SMART goals. And you might be familiar with those being realistic, achievable, and measurable. It’s an easy way for people who don’t have a technical background to understand what your project is about, why it matters, and what impact it will have on them.

If you’re starting with NFTs and blockchain technology in general, consider making this your first step towards becoming more familiar with these technologies.


PFP (short for “profile picture”) is a digital token or artwork designed to be displayed as a person’s social media profile picture. Most popular NFT collections, such as Bored Apes and Doodles, are PFPs.

Open Edition

An open edition is any NFT for which any number of editions can be minted.

For example, if you were to create an NFT worth 1 Ether and there’s a maximum of 100 coins in existence, then after you’ve sold all 100 coins and the mint is closed, no more copies of the token will ever be replicated or created again.


This term is used when an artist creates a piece of work that only fully reveals itself after it’s purchased.

For example, if you buy an NFT that’s part of the generative art category, then the artwork won’t be created until the NFT is minted, and you can’t know precisely what you get until after you buy it.


To put it simply: OpenSea is the Amazon for NFTs, and it’s an online marketplace where anyone can easily create and sell their digital assets.

You can find anything from lotions to the artwork on OpenSea, all with unique attributes like color, size, and condition.

This makes it easy for the users to discover new items in their favorite games or applications while also giving them access to more options than ever before – because nothing is stopping you from creating your own thing.

Opensea was one of the earliest NFT portals open for market; and so has been listed within the NFT Dictionary terms.

Floor Price

A floor price is a minimum price that a seller is willing to accept for an item. For example, if you are selling a couple of shoes and you have set your floor price at $100, then no one can buy them from you for less than $100.


SuperRare is an exclusive crypto art market for buying and selling non-fungible tokens (NFTs). NFTs are virtual, unique digital assets that live on the blockchain and are fully transparently tracked.

SuperRare is an NFT marketplace and airdrop platform. They accept artists from all backgrounds to create their own NFTs using SuperRare’s IPFS file sharing system. This enables users to upload their NFT files and verify them by the platform before they can start selling them in the marketplace.


A whitelist is a list of NFT addresses that have been pre-approved for minting. Some projects allow users to add their wallet addresses to a whitelist in exchange for exclusive rewards or benefits, like reduced transaction fees and early access to new features.

NFT Airdrop

An NFT airdrop is a circulation of NFTs or computerized resources shipped off a web3 wallet address for nothing as an advancement or as an added incentive for partaking in an encounter or buying another computerized resource.

Limited Edition

Limited Edition is a type of NFT that celebrates the country’s beauty and varied diversity across flora and fauna. The artworks will give travelers a chance to own digital collectibles of their favorite destinations.

Hot Wallet

A Hot Wallet is a wallet that is continually associated with the web and allows you to store, send and receive tokens. Hot wallets are ideal for day-to-day transactions because they’re easy to use but are less secure than cold wallets.

Cold Wallet

A cold wallet is any wallet that is not connected to the internet. Most commonly, this refers to a physical device you can use to store your cryptocurrency offline.

It’s often called a hardware wallet or “cold storage.” Because this device has no connection to the internet, it makes it much more challenging for programmers or other vindictive entertainers to get to your funds.

The most common types of cold wallets are USB sticks, small and easy-to-carry devices that can be plugged into any computer without being connected to the internet.


Royalty is an NFT royalty payment that compensates original NFT creators for using their non-fungible tokens (NFTs).

Utility Token

Utility tokens are digital tokens of cryptocurrency issued to fund the development of a cryptocurrency. -This is different from security tokens, which are used for investment purposes and ownership of an asset.

Governance Token

A Governance Token is a type of NFT that allows token owners to vote on proposals and decisions affecting a protocol.

Unlike regular NFTs, which can be used as collectibles or tradeable assets, Governance Tokens influence the direction of the project they represent.


2PE is an acronym for 2-Party Escrow. In a 2PE transaction, two parties are involved: the buyer and the seller. After a purchaser and dealer consent to a 2PE marketing, they will decide on an escrow agent who will hold their funds until all conditions of their agreement have been met.


Interoperability is the limit of somewhere around two frameworks to exchange information and work together, regardless of their differences. In this sense, interoperability means NFTs can be used across multiple networks and frameworks.


A CC0 NFT is a form of copyright that enables the creator to allow their NFTs to be owned by others and can also be used to waive your trademark, patent, or other rights.

-This is a public domain dedication that allows users to release their work into the public domain.


Discord are people that are actively collecting, trading, selling, and engaging in conversations about Non-Fungible Tokens or NFTs.

-This is where we host our Discord server—if you’re interested in joining us there, feel free. You can sign up or enter if you already have an account.


An NFT on-chain is a token with the metadata and image stored directly on the blockchain. Most projects out there store their metadata on a decentralized file storage system such as IPFS, but this means it’s not directly stored in the same place as the token itself.


Staking is a process where you can secure your non-fungible tokens (NFTs) on a specific platform or protocol. In exchange for this particular action, you are entitled to receive staking rewards.

This can be done through either the use of smart contracts or by simply depositing your NFTs into an exchange that is running staking rewards.

NFT Fall

NFTs are a relatively new type of digital asset, and they’re growing in popularity. An NFT fall is the release of a new NFT project.

The term “drop” refers to the exact date and time that this release will occur and what amount each token will cost during its initial offering (usually around $0.01). If you purchase at drop time, it can save you some money because all future sales after that point have higher prices per token.

Conclusion On NFT Dictionary Terms

NFTs are diving in for the long stretch, and their notoriety will only grow. If you’re interested in learning more about them, we recommend reading up on some of the resources we’ve listed above.

We trust this article has helped you with understanding NFTs better and given you some of the vocabulary necessary for understanding how they work!

Chief Content Strategist at Best VR Expert. Leveraging real-time data about Virtual Reality, AR, XR, Mixed-Reality, VR Games, and more. So you being a creator, gamer, a business or a tech enthusiast won't slip the best deals off; and can plan 2 steps ahead of your competitors, always!


NFT Explained For Dummies 2023: How Are NFTs Used And Profited?

Salwa P




NFT Explained For Dummies 2023

NFTs are a great way to monetize assets in the digital world. They can be used as a form of currency, or they can be used to represent the value of an asset.

NFTs are quickly becoming one of the most popular ways to represent digital assets on the blockchain. They can be used for everything from virtual art pieces to digital collectibles like CryptoKitties and Rare Pepes, as well as digital versions of real-world assets like stocks and bonds. How are NFTs used, and how are they profitable?

A Step-by-Step Guide on How to List an NFT Explained in An Easy Way For Beginners

The following are the essential steps for listing your NFT:

Step 1: Create an Ethereum Wallet

The first thing you need to do is create an Ethereum wallet. This is where you will store your NFTs once they are listed.

There are many different wallets, but we recommend using MyEtherWallet (MEW). MEW is a free, open-source wallet that enables you to access the Ethereum blockchain through your browser or mobile device.

Step 2: Add Money to Your Wallet

Once you have created your wallet, you need to add some money. There are several ways that you can do this. The most common method is to send Ether from Coinbase or another exchange. To do this, go back to MyEtherWallet and click “Send Ether & Tokens .” Enter the amount of Ether you want to send into your wallet and click “Generate Transaction.” This option basically generates a unique transaction code you can use in Coinbase. Or can be used in another exchange to transfer money over into the wallet.

Step 3: Create an Account

In this step, you will create an account on any NFT marketplace and link it to your wallet. Sometimes, you may need to provide KYC information, such as ID verification and phone number verification, before linking the wallet. To list an NFT on OpenSea, you must create an account by signing up with an email address and password. When signing up, ensure you enable 2FA, which is short for two-factor authentication (2FA). This means that whenever someone tries logging into your account, they will be required to enter both your password and a code sent via text message or generated by Google Authenticator or any other authenticator app.

Step 4: Create Your NFT

Once you have created an account on any NFT marketplace and linked it with your wallet, you can start creating your own NFTs. You will be asked to choose a name for your token, select an image, and write text describing your token’s purpose.

NFT Strategy: How to Market Your NFT Project

You can do a few things to help your NFT project succeed. These include:

Build Your NFT Community

The first step to marketing your NFT project is building a community. This can be done by creating a subreddit or forum on Reddit or Discord server. You can use these platforms to interact with fans, answer questions, and get feedback on future updates and features.

List Your NFT on More Than One Marketplace

Listing your NFT on more than one marketplace will help boost its visibility, increase sales volume, and get more feedback from different communities worldwide. Some popular marketplaces are Rarebits, OpenSea and CryptoKitties Market. If you have time and resources, we recommend creating your marketplace too!

Conduct AMA Sessions

If you have a large community on Discord or Telegram, try hosting an AMA there too! This is a great way to get feedback on your project. You can also share development updates by answering questions from users in real time. This will help build trust between creators and community members, which could increase organic visibility via SEO.

Get the Help of Influencers

Influencers can help you market your NFT project by talking about it on their social media channels, featuring it in their YouTube videos, or even reviewing it on their website. They have already built up large audiences that can be leveraged for your product launch. Influencers can also help you connect with other influencers in the space who may be interested in what your project has to offer.

Create Educational Videos

There are many different ways that educational videos can be used to spread awareness about your NFT project. You could make a video that explains what non-fungible tokens are and why people should care about them. This is an easy way for people who know nothing about blockchain technology or crypto assets to understand the value of NFTs without reading through a long blog post or white paper. You could also make a video showing how easy it is to use your product.

Can I Trade NFTs?

Yes, you can trade NFTs. The trading of non-fungible tokens (NFTs) is a growing market yet to be fully developed. While you may be able to find some NFTs for sale on third-party marketplaces such as OpenSea, Rarebits, or RareBits, there’s no guarantee that it will be easy to find the exact NFT you’re looking for.

One thing to keep in mind when trading NFTs is the risk of losing your investment if the platform goes under. This isn’t just a concern with centralized platforms; there have been several instances where NFTs have been lost due to hackers getting into their databases and stealing them.

The good news is that some companies are working on decentralized exchanges that will allow you to buy and sell NFTs directly from each other without relying on a middleman. These include Ethershift, which will enable users to exchange their ETH for ERC-20 tokens through their site; IDEX, which offers an order book for ERC-20 token trades; and Oasis Exchange, which provides a way for traders to exchange ETH for tokens directly on its platform.

What Are The Top Benefits of Investing in NFTs

The benefits of investing in NFTs are as follows:

Many Possibilities

NFTs, allow investors to diversify their portfolios by investing in various assets. This range of options means investors can choose what works best for them. For example, if you want to invest in real estate without buying a house or apartment, you could purchase digital artwork or real estate through an NFT. You could also buy a digital painting or sculpture from an artist who represents their work online using an NFT platform such as OpenSea.

Easily Accessible and Transferable

One of the main benefits of NFTs is that they can be easily transferred between individuals through various platforms such as Ethereum. You don’t need complex tools or wallet addresses because these tokens can be accessed via a user’s account or wallet address. This makes it easy for anyone to purchase or sell these tokens whenever they want without going through multiple steps to transfer them successfully.

NFTs Are Easy To Validate

NFTs are easy to validate because they exist on blockchains, transparent, open ledgers that anyone can see. Buying something using an NFT will appear in your wallet and all your other holdings. The same goes for when you sell it — everything is registered on the blockchain so that no one can claim ownership without proof. This makes buying and selling NFTs much easier than buying traditional stocks or bonds because there isn’t any paperwork involved.

Secured Ownership and Transparency

NFTs grant their owners exclusive rights over their properties, which means they can’t be stolen or lost like other digital assets. Even if someone steals an authorized NFT from its owner, it will remain invalid unless they successfully re-register it with the blockchain network. In addition, since every transaction is recorded on the blockchain network, it’s easy to trace any unauthorized changes made to an asset’s ownership record.


The truth is that NFT does possess a significant value, at least from a technical standpoint. While it is true that the value in NFT is only as secure as the blockchain technology itself, this is also true for most forms of currency. With that in mind, NFTs are a valuable tool for incentivizing behavior among decentralized applications and smart contracts.

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Gamestop NFT 2023: Everything You Need To Know About

Salwa P




Gamestop NFT

The beginning is big yellow signs, flashing lights, and sales promotions. GameStop has steadily grown into the biggest video game retailer in the world due to these tactics. Recently, they have turned an eye towards something new, a new way to purchase certain games. GameStop is now selling game codes via physical store locations in a concept known as ‘GameStop NFT‘.

What is actually a GameStop?

GameStop is a video game, consumer electronics, wireless services, and retailer.

The company’s retail outlets primarily market and sell games, gaming accessories, and consoles. The company also operates Game Informer magazine and the online gaming website The company has its headquarters in Grapevine, Texas.

GameStop is known for its collectible-card-game tournaments and its customer loyalty program “PowerUp Rewards”. Which offers incentives, including coupons, pre-orders, and other special promotions to customers. The customers accumulate points while shopping at GameStop stores or online at the retailer’s website. Customers can also earn points through Game Informer magazine subscriptions or by referring friends to the PowerUp Rewards program by giving them coupons or sending messages about upcoming promotions.

What is ImmutableX?

ImmutableX is a highly efficient, secure, and performant immutable data structures library written in pure Java. It provides a set of immutable classes that implement various data structures like Lists, Sets, Maps, Strings, etc. Unlike other libraries that offer mutable versions of these classes, ImmutableX strictly enforces immutability by only providing immutable implementations. In short, ImmutableX can build highly concurrent applications while maintaining thread safety and avoiding concurrency bugs like race conditions and deadlocks.

GameStop’s Partnership with ImmutableX

GameStop, the largest video game retailer in the United States, has partnered up with ImmutableX. This partnership aims to revolutionize the gaming industry by using blockchain technology to track games while allowing gamers to sell their digital assets on a decentralized marketplace.

The partnership between GameStop and ImmutableX will help create a seamless experience for gamers and developers. For example, the partnership will allow users to purchase games digitally using cryptocurrencies that they can resell on the marketplace. This means that gamers can use cryptocurrencies like Bitcoin and Ether to purchase games from GameStop’s digital store at a discount, then sell those digital assets back for cash or other digital assets offered by GameStop, such as gift cards.

In addition to this new service provided by GameStop, there are plans for a new cryptocurrency exchange, allowing users to trade cryptocurrencies like Bitcoin and Ethereum with other gamers worldwide.

What is a Web3 game?

A Web3 game is a game that works on any device that supports HTML5 and can be played on the web. The technology is the same as what you would use to create a mobile or desktop app, but instead of building it for your device, you build it for the web.

The main advantage of creating a Web3 game is that it will run on any device with a browser, not just your own. It also allows users to play games without installing an app. If they like your game and want to continue playing, they can download it from their browser and keep playing offline.

Why is GameStop Becoming a Web3 Company?

GameStop is digging into blockchain technology to transform itself into a web3 company.

The company has already invested in a blockchain startup, decentralized application platform, and tokenization platform called Loom Network.

GameStop’s new focus on blockchain comes as the company struggles with declining sales and a failing business model.

In response, GameStop has been trying to reinvent itself by selling more electronics, which have been doing better than physical game sales for years. But even this strategy isn’t working anymore as more people buy games digitally than ever, especially among younger gamers who want to avoid dealing with long lines at stores or waiting for shipments from online retailers like Amazon Prime.

GameStop’s new strategy is to compete with digital giants like Steam, which have been taking market share away from brick-and-mortar retailers for years.

GameStop’s new digital strategy isn’t just about competing with its rivals; it’s also about staying relevant in a world where digital sales are expected to outpace physical sales by 2023.

What are the Essential Features of the NFT Gaming Platform?

There are many valuable features that NFT gaming platforms can offer. The most important ones are:

Players will take control

Players will have full ownership rights and control over their digital assets and can own, trade, and sell them whenever they want.

Play-to-Earn games will be huge

The first type of NFT gaming is play-to-earn games. These games reward players with crypto tokens for playing and performing certain actions. This incentivizes players to keep playing because it means they can earn money from playing games. In addition, these incentives also encourage users to share the game with their friends and family, which further increases the number of players and thus leads to more revenue for the developer.


The NFT gaming platform is designed to have high interoperability with other platforms and applications, allowing users to transfer assets between games and platforms easily.

What are the top GameStop NFT marketplaces?

Besides, their own marketplace, here are some of the best marketplaces for GameStop NFT:

Open Sea

OpenSea is a marketplace for NFTs. It uses the Ethereum blockchain and smart contracts to create a decentralized gaming ecosystem where users can buy and sell NFTs. Open Sea allows users to play games with their NFTs and use them as collateral in lending protocols.

CryptoPunks/Larva Labs

CryptoPunks is the original NFT marketplace. It launched in 2017 and quickly became one of the biggest NFT marketplaces in the world. Larva Labs is its parent company. The site has many categories, including CryptoKitties and CryptoCats. You can even sell your unique crypto-themed stickers.


Rarible is one of the most popular NFT marketplaces on the internet. The company was founded in 2019 and has quickly become one of the biggest NFT marketplaces in the world. Rarible has over 1 million registered users, and it’s growing steadily.

The platform allows users to buy and sell digital assets, including NFTs, cryptocurrencies, and other digital goods. It also allows users to transfer their digital assets between different games and send them over social media platforms like Facebook Messenger or Instagram Direct Message.

Rarible offers some of the best prices for NFTs compared to other online marketplaces like RareBits or OpenSea; they do not provide an escrow service as these two sites do. This means that you will need to trust whoever you’re buying from before sending them any money, but if you know what you’re doing, this shouldn’t be an issue.


This is one of the most well-known NFT marketplaces on the web today. It’s based in Canada and accepts both US and Canadian dollars.

It offers a wide range of different assets, including many types of sports cards and other collectibles. The site has over 200 categories where you can find what you want. It also has an easy search feature so that users can find exactly what they’re looking for quickly and easily.

GameStop Stock: How Much Ownership Do Retail Investors Have?

GameStop stockholders have a lot of ownership in the company. GameStop is a publicly traded company; investors can buy and sell shares on the open market. However, GameStop has a lot of insider ownership as well. A quick look at the company’s most recent proxy filing reveals three classes of stock: Class A, Class B, and Class C. The holders of each class have different rights, including voting and dividend rights.

GameStop (GME) has about 67.5% institutional ownership.

How do I buy NFT from GameStop?

In order to purchase a GameStop NFT, you need to register by connecting the wallet. This proceeds by using the account balance or by adding funds to the wallet.

To add funds to your account, click “Add Funds” and select the amount you want. If purchasing NFTs for the first time, you’ll need to enter your credit card information before adding funds. You can also use PayPal or a gift card at checkout.

Once you’ve added funds to your GameStop account, you can purchase NFTs by clicking on “Buy NFT” and selecting the name of the item you want to purchase.

Conclusion On Gamestop NFT

For those uninitiated, NFTs are essentially tokens for games, hence the name. They’re physical manifestations of digital assets that give you access to different in-game items. It’s not a new concept; it goes back to the days of trading cards and baseball cards. Having too many cards or even different games or consoles collecting dust can be burdensome because they need to be more practical. NFTs allow users to utilize their existing collections while simultaneously collecting new ones.

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