Art NFT Minting and Smart Contracts Flashcards
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Read the first 7 Art NFT Minting and Smart Contracts flashcards as text
What is a 'whitelist' (or allowlist) mint in NFT projects?
Answer: A mint restricted to wallets that have been pre-approved, often at a lower price or earlier access
Allowlist mints grant early or discounted access to pre-approved wallet addresses, typically stored as a Merkle tree in the contract for gas efficiency.
How does a Merkle proof enable efficient whitelist verification in an NFT smart contract?
Answer: It allows verifying a wallet is in a list without storing all addresses on-chain
By storing only a Merkle root on-chain, the contract can verify any wallet's inclusion with a small proof, saving significant gas versus storing thousands of addresses.
An artist deploys an upgradeable NFT contract using a proxy pattern. What is the main risk of this approach?
Answer: The contract owner could change the contract logic after buyers purchase, undermining trust
Upgradeable contracts give owners power to alter contract behavior post-deployment, which can conflict with buyers' expectations of immutability.
What is 'batch minting' and why do artists use it?
Answer: Minting multiple tokens in a single transaction to save gas costs
Batch minting combines multiple token creations into one transaction, dramatically reducing per-token gas costs for large collections.
What does 'reveal' mean in the context of a generative NFT art launch?
Answer: The process where hidden or placeholder metadata is replaced with actual artwork traits after mint
Reveal mechanisms keep traits secret until after minting to prevent buyers from strategically minting only rare tokens by predicting outcomes.
Which statement best describes the 'ownerOf' function in ERC-721?
Answer: Returns the current owner's wallet address for a given token ID
The ownerOf function takes a token ID and returns the address of its current owner, providing verifiable on-chain proof of ownership.
A smart contract has a 'mint price' of 0.08 ETH and a max supply of 10,000. What happens if a buyer sends exactly 0.05 ETH to the mint function?
Answer: The transaction reverts and no NFT is minted
Properly written contracts use require statements to verify sufficient payment, reverting the entire transaction if the sent value is below the mint price.