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Art NFT Security and Best Practices 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 Security and Best Practices flashcards as text

  1. What is 'gas griefing' in the context of NFT smart contracts?

    Answer: When a malicious contract deliberately wastes a caller's gas to drain their ETH

    Gas griefing occurs when a contract's external calls are designed to consume excessive gas, draining the caller's Ether as a form of attack.

  2. What security advantage does ERC-721 offer over simply storing ownership records in a centralized database?

    Answer: Ownership is stored immutably on-chain and cannot be altered by any single party

    On-chain ERC-721 ownership records are immutable and decentralized, meaning no company or server failure can erase or falsify ownership history.

  3. Which red flag most strongly suggests an NFT art collection is a scam?

    Answer: Anonymous team members with no verifiable track record and promises of guaranteed returns

    Unverifiable anonymous teams combined with guaranteed return promises are classic hallmarks of fraudulent NFT projects designed to exit scam.

  4. How does a 'signature phishing' attack target NFT collectors?

    Answer: Victims are tricked into signing a malicious message that grants wallet access

    Signature phishing tricks users into signing an off-chain message that secretly authorizes a malicious contract to transfer their NFTs or tokens.

  5. What does the 'setApprovalForAll' function in an ERC-721 contract do, and why is it dangerous?

    Answer: It grants a third-party address permission to transfer ALL of your NFTs in that collection

    setApprovalForAll grants an operator complete control over all your tokens in a contract, so approving a malicious address can result in total collection theft.

  6. Why should NFT art creators register their copyright before minting, even though the blockchain records creation date?

    Answer: Copyright registration provides stronger legal recourse and statutory damages in infringement cases

    US copyright registration allows creators to sue for statutory damages and attorney's fees, providing much stronger legal remedies than blockchain proof alone.

  7. What is 'NFT wash trading' most commonly used to achieve in art markets?

    Answer: Creating artificial price history to manipulate perceived value and attract real buyers

    By trading an NFT between controlled wallets at escalating prices, scammers fabricate a convincing sales history that lures genuine buyers at inflated prices.