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NFT & Blockchain terms

Airdrop

A token distribution method used to send cryptocurrency or NFTs to wallet addresses. Sometimes airdrops are used for marketing purposes in exchange for simple tasks

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Ape

Expression used to compare the behaviour of NFT or crypto traders (FOMO and FUD) to the primitive behaviour of primates; to invest all your money

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Asset

An asset provides current or future benefits for its owner. NFTs are digital assets because they share many characteristics of traditional assets. For example art,

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Bitcoin (BTC)

The first widely used cryptocurrency, designed to be used as a digital payment method that would bypass banks and financial institutions. The concept was created

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Blockchain

A special system of storing information that makes it nearly impossible to modify, hack, or trick it. The Blocks record information chronologically and transactions can

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Blue chips

Established, well-recognized, and somewhat stable projects in the NFT space. They are considered as somewhat safer assets. Expression derived from the stock market.

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Burn

To burn a non-fungible token, means to make it unusable. One of the commonly used ways of doing so is by sending them to the

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CPU mining

Mining cryptocurrency coins using a conventional computer processor. Today it is practically not used due to its low processing power.

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Crypto

It’s a universal word to describe anything decentralized that has to do with cryptocurrencies, NFTs, etc.

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Cryptocurrency

A digital/ virtual money based on blockchain technology. The most prominent examples are Bitcoin or Ethereum, but there are many more types in circulation.

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Dapper Labs

Founded in 2018, Dapper Labs developed NBA TopShots, the first mainstream NFT collectibles. Furthermore, they are developing other projects like CryptoKitties and games like Cheese

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Decentralization

There is no central authority, for example a government, bank or company, that has the power to take decisions alone. Decisions are taken by all

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Delist

No longer offer your NTFs for sale. This is often spammed in discord groups. If more people delist their NFTs from OpenSea, the floor price

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Derivative

As everywhere else where there’s financial speculation it is also present in the NFT space. It is now possible to speculate on NFTs with derivatives,

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DEX

Decentralized Crypto Exchanges. A DEX is a peer-to-peer exchange, supervised by a blockchain instead of a centralized organization like banks or government institutions.

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Digital collectibles

NFTs are considered digital collectibles due to their non-fungible nature. The blockchain gives the possibility to confirm ownership of a certain collectible.

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