NFT Cheat Sheet 2026

The 30 highest-yield NFT facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. How do NFTs function? → Using Blockchain (a distributed public ledger)
2. What is the role of a 'curator' in the NFT art ecosystem? → To select, promote, and contextualize NFT artworks for collectors and audiences
3. What is a 'lazy mint' and why is it beneficial for artists just starting out? → Deferring the actual blockchain transaction until the NFT is first purchased by a buyer
4. What is Snowfro (Erick Caldwell) most famous for in the generative NFT art space? → Founding Art Blocks and creating the Chromie Squiggle collection
5. What does 'diamond hands' mean in the NFT community? → Holding NFTs through market volatility and price drops without selling
6. What primarily determines the unique visual output of each piece minted in a generative art NFT collection? → A random seed derived from the minting transaction hash
7. Which platform became the leading marketplace specifically for on-chain generative art NFTs? → Art Blocks
8. What does 'on-chain' generative art mean for NFT collections? → The algorithm and all artwork data are stored permanently on the blockchain itself
9. Which blockchain is most commonly associated with digital artists selling high-value 1/1 art pieces in the US market? → Ethereum
10. What NFT was sold for the biggest money in 2025? → Pak's "The Merge"
11. Which of the following describes a qualitative factor that significantly influences an NFT's valuation? → The reputation and historical provenance of the creator.
12. When you buy an NFT what do you get in the end? → The NFT itself
13. Which of the following is the best example of 'utility' directly impacting an NFT's valuation? → The NFT serves as a lifetime access pass to a popular annual industry conference.
14. What is generative art in the context of NFTs? → Art produced by algorithms that use randomness or defined rules to generate unique outputs
15. What does 'minting' an NFT mean for a digital artist? → Publishing artwork onto a blockchain as a unique, verifiable token
16. If the value of cryptocurrency changes, what also changes? → The value of the artwork
17. Before NFTs, what was the closest thing to "owning" digital artwork? → There was no opportunity to assume complete ownership of the work.
18. Which NFT market is the most well-liked? → Open sea
19. What is the percentage of royalties received by artists when their work is resold? → 8-10%
20. Which of the following best describes the role of a license agreement in an NFT sale? → It defines the specific rights the buyer has to use the underlying artwork.
21. What programming language is predominantly used for creating generative art scripts on Art Blocks? → JavaScript (p5.js)
22. What is 'trait sniping' in NFT collecting? → Targeting and purchasing NFTs with rare traits listed at low prices before others notice
23. What does 'rarity' mean in the context of generative NFT art collections? → How infrequently specific trait combinations appear across all pieces in a collection
24. What is 'wash trading' in NFT markets and why is it considered harmful? → Artificially inflating sales volume by trading with oneself to manipulate perceived value
25. Which type of NFT gives collectors governance rights within a project's ecosystem? → Utility NFTs with DAO voting rights
26. Which platform is widely used by NFT collectors to track portfolio value and collection analytics? → NFTBank
27. What is 'flipping' in NFT collecting? → Buying NFTs at a low price and quickly reselling them at a higher price for profit
28. What is a '1/1' NFT in art collecting? → A unique, one-of-a-kind NFT artwork with only a single edition in existence
29. What are CryptoPunks? → Pixel art characters that have become icons of the cryptocurrency world
30. What is 'plotter' or 'pen plotter' art in the NFT generative art world? → Art generated by code and then physically drawn by a robotic pen-plotting machine