NFT Creating and Minting NFTs 2

Question 1

What does 'lazy minting' mean in the NFT context?

Accepted Answer

Deferring on-chain minting until the NFT is purchased

Answer

Lazy minting lets creators list NFTs off-chain and only triggers the actual blockchain minting when a buyer purchases, saving upfront gas fees.

Question 2

Which file format is most commonly recommended for high-quality NFT art that also supports animation?

Accepted Answer

GIF

Answer

GIF supports animation frames and is widely accepted across NFT marketplaces, making it popular for animated NFT art.

Question 3

What is a 'collection' in NFT terminology when minting art?

Accepted Answer

A smart contract grouping multiple related NFTs under one identity

Answer

A collection is a smart contract that groups related NFTs together, giving them a shared identity, floor price, and metadata structure on marketplaces.

Question 4

When setting royalties during NFT minting, what percentage range is typical for digital artists on most platforms?

Accepted Answer

5–10%

Answer

Most NFT artists set royalties between 5% and 10% of secondary sale price, balancing collector appeal with ongoing creator revenue.

Question 5

What is the purpose of the 'token URI' stored in an NFT's smart contract?

Accepted Answer

To point to the metadata JSON file describing the NFT

Answer

The token URI is a URL or IPFS hash pointing to a JSON metadata file that contains the NFT's name, description, image link, and attributes.

NFT - Art Practice Test

NFT - Art Practice Test

NFT Creating and Minting NFTs 2