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Art NFT Fundamentals and Concepts Flashcards

7 cards from real NFT practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Art NFT Fundamentals and Concepts flashcards as text

  1. What is 'provenance' in the context of NFT art?

    Answer: The verifiable ownership history of an NFT recorded on the blockchain

    Provenance refers to the complete, verifiable record of an NFT's ownership history, permanently recorded on the blockchain.

  2. What is an NFT 'burn' mechanism?

    Answer: Destroying an NFT permanently by sending it to an inaccessible wallet address

    Burning an NFT means sending it to a null or unrecoverable address, permanently removing it from circulation and reducing supply.

  3. What distinguishes a '1/1' NFT from an edition NFT in the art world?

    Answer: A 1/1 is a completely unique piece with only one edition, while edition NFTs have multiple copies

    A 1/1 (one-of-one) NFT is a singular, unique artwork with no duplicates, analogous to an original painting, while edition NFTs are like numbered prints.

  4. What role does IPFS play in NFT art storage?

    Answer: A decentralized file storage system used to host NFT media files off-chain

    IPFS (InterPlanetary File System) is a decentralized storage protocol commonly used to host the actual media files that NFTs point to.

  5. What is a 'whitelist' or 'allowlist' in NFT art drops?

    Answer: A pre-approved list of wallet addresses granted early or guaranteed access to mint an NFT

    A whitelist (now often called allowlist) grants specific wallet addresses priority or guaranteed access to mint NFTs before or instead of the general public.

  6. What is 'metadata' in an art NFT?

    Answer: Descriptive data about the NFT including its name, description, traits, and media file link

    NFT metadata is a structured data file (typically JSON) containing the artwork's attributes, description, name, and link to the actual media.

  7. What is a 'Dutch auction' in the context of NFT art releases?

    Answer: An auction format where the price starts high and decreases over time until a buyer accepts

    A Dutch auction starts at a high price that decreases at set intervals until someone purchases, helping discover market price and reduce gas wars.