explainer / 64 posts found
How You Can Launch the Perfect DAO for the Web3 World
Like many Web3 technologies, decentralized autonomous organizations have the potential to disrupt and transform the way that corporations, organizations, and nonprofits traditionally operate. But in the last year, decentralized autonomous organizations (DAOs) have made national headlines, garnering attention from investors, operators, and scientists alike. But what makes DAOs so special? In this guide, we’ll walk you through the steps for DAO creation, important decisions to consider, and best practices for successful operation. However, first we need to talk about what a DAO really is. Unpacking DAOs for a Web3 future By definition, as listed in our nft dictionary: “A DAO […]
Are NFTs Securities? A Guide to Global Policies
Any digital asset, including non-fungible tokens (NFTs), can be classified by securities regulators as a “security.” But this begs the question of whether or not a prospective buyer is potentially subjecting themselves to a country’s securities law simply by buying and selling NFTs. The industry-wide expansion into the metaverse has opened the doors to associating and integrating digital assets into new virtual worlds, making it even more likely that these assets will eventually become commercialized and potentially subject to these securities laws. So, what do countries around the world have to say about NFT transactions and their characterization as a […]
Here’s Everything to Know About NFT PFP Projects in a Nutshell
PFP (profile picture) projects have become the hallmark of the NFT world since they exploded in popularity in 2021. They’re the bedrock of some of the community’s most famous projects, including Bored Ape Yacht Club, Doodles, Cool Cats, and CryptoPunks, the project that heralded the PFP revolution. As the name implies, PFPs are pieces of digital art that are meant to be displayed as profile pictures on social media. They have become a symbol of how people choose to identify themselves in the world of Web3 and, in some cases, are the only known identity of some famous Web3 figures. […]
Dive Into Three of the Top NFT Marketplaces
NFT marketplaces are platforms where collectors buy, sell, trade, and sometimes create (or mint) NFTs. They are the backbone of much of the NFT ecosystem. OpenSea OpenSea is considered the largest NFT marketplace in existence. Users can collect digital art, photography, music, and more, and the platform provides useful tools for NFT creators and collectors. It supports Ethereum, Polygon, Klatyn, and Solana blockchains. OpenSea takes a 2.5 percent fee off the final price of each transaction, and its supported payment methods include ETH/WETH, SOL, USDC, DAI, APE, and Credit/Debit cards via Moonpay. LooksRare LooksRare is another heavy hitter. A relatively […]
Have There Really Been Major NFT Advancements in the Last Year?
In 2021, the nonfungible token (NFT) ecosystem absolutely exploded. Artists gained a robust new way to sustain themselves, NFT collectors evolved into prominent Web3 builders, and entire lives were changed thanks to blockchain technology. That’s all well and good, but does it really matter in the grand scheme of things? Of course, those associated with the world of art, finance, and blockchain tech will say that it does. To the vast majority of consumers though, NFTs are inconsequential. Sure, the total sales volume of NFTs went from $94.9 million to over $23 billion in a year, but big figures and […]
Location-Based NFTs: A Link Between Blockchain and IRL Experiences?
Collecting NFTs, and engaging with blockchain technology in general, can at times be an overwhelmingly stagnant experience. As the only portal to interacting with the blockchain is via the internet, investors, developers, artists, and collectors usually find themselves sitting for hours staring at a screen. But what if collecting NFTs could be a more engaging activity? Of course, this is the exact aim of projects like StepN, which incentivizes collectors to get outside and move in order to earn crypto while exercising. Yet, the thrill of stacking coins (whose value undoubtedly fluctuates regularly), is surely only appealing for so long. […]
What Is the True Utility of IRL NFT Events?
Considering the current state of the continuously growing NFT market, the allure of in-person events is undeniable. A spinoff of the many crypto conventions of old, NFT conferences act as both a celebration of community and summits showcasing advancements in industry innovation. But why are they often so tiring, and at times even disappointing? Of course, each NFT event is unique. And interacting face-to-face with fellow NFT enthusiasts in lieu of everlasting DMs and emails is definitely a cause for celebration. But what is the true utility of lengthy and expensive conferences? In 2022, are these conferences themselves actually worth […]
Cryptocurrency and NFTs: What’s the Difference?
NFTs. Cryptocurrencies. Bitcoin. Ethereum. Web3. To someone who has never directly interacted with these things before, the crypto world can seem obtuse, opaque, and overtly strange. All of which is completely understandable. The advent of the blockchain and the technologies it supports represent a sea-change on par with the advent of the internet itself. And just as people reacted to the early days of the internet with a wide variety of emotions that included skepticism, excitement, and outright fear, blockchain-based technology is inspiring the same gamut in people today. The two biggest unknowns of the technology manifest in the form of […]
How to Determine What NFTs to Buy: A Must-Read Guide
One of the most challenging aspects of buying and selling NFTs is finding the right one to purchase. Choosing the perfect NFT for your collection can be as simple as browsing a marketplace in search of art you enjoy (much like browsing through items on Amazon). This is where many people get their start in the NFT world. But NFTs offer a lot more than just art. Smart contracts in NFTs (bits of computer code that allow them to be minted and traded without third parties) let owners access unique assets contained within the NFT, manage their transferability, and more. […]
CC0 and NFTs: Understanding Ownership
Intellectual property and copyrights are complicated phenomena with long and convoluted histories. Dating back to the 18th century, copyright laws have evolved and been applied in many different ways across nearly as many legal jurisdictions. Just as varied are the ways in which companies choose to enforce perceived violations of their IP. Games Workshop, for example, the board game company behind the wildly successful Warhammer 40,000 IP, has long disheartened its own fanbase by aggressively clamping down on fan-made content across the internet. In 2019, Disney decided to become the villain in its own real-life movie when the company refused […]