Hey guys!
We gonna explain more NFT terms under #NFTDictionary rubric, so let's start our discussion with the definition of MINT!
What Does it Mean to «Mint» an NFT?
Minting an NFT is the act of uniquely publishing your token on the blockchain to make it purchasable.
Minting can either refer to the creation process of an NFT or the purchase of an NFT on its release date.
In both cases, minting is always a recorded transaction on the blockchain🔗
ARPC mint date is very close 🔥🔥🔥
Drop 🐢 in the comments if you are looking forward to it!
We gonna explain more NFT terms under #NFTDictionary rubric, so let's start our discussion with the definition of MINT!
What Does it Mean to «Mint» an NFT?
Minting an NFT is the act of uniquely publishing your token on the blockchain to make it purchasable.
Minting can either refer to the creation process of an NFT or the purchase of an NFT on its release date.
In both cases, minting is always a recorded transaction on the blockchain🔗
ARPC mint date is very close 🔥🔥🔥
Drop 🐢 in the comments if you are looking forward to it!
What is "Reveal"?🤔
#NFTDictionary is here for you 👋
The word here is self-explanatory, but its meaning in an NFT context may not be. For new generative projects, the artwork won't actually be created until the NFT is minted, and you won't know exactly what you get until after you buy it. In other words, the art only reveals itself after it's purchased.
Which term do you want us to explain next?😉
#NFTDictionary is here for you 👋
The word here is self-explanatory, but its meaning in an NFT context may not be. For new generative projects, the artwork won't actually be created until the NFT is minted, and you won't know exactly what you get until after you buy it. In other words, the art only reveals itself after it's purchased.
Which term do you want us to explain next?😉
🚀We continue to add new terms to our #NFTDictionary. Today we gonna look at the term called...
GAS FEE
The price for a transaction on a blockchain is called ""gas"". When buying 🖼NFTs on a blockchain🔗 like Solana, gas is negligible. On Ethereum, however, a $50 gas fee is about the lowest you can hope for, and it all depends on the activity on the network.
Low activity = low fees⬇️
High activity = high fees⬆️
Easy?
GAS FEE
The price for a transaction on a blockchain is called ""gas"". When buying 🖼NFTs on a blockchain🔗 like Solana, gas is negligible. On Ethereum, however, a $50 gas fee is about the lowest you can hope for, and it all depends on the activity on the network.
Low activity = low fees⬇️
High activity = high fees⬆️
Easy?
#NFTDictionary
What is Cross-chain?⛓
Cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value. Doing so breaks the siloed nature of blockchains to create an intertwined distributed ecosystem. 🙌
Cross-chain technology allows users to overcome common trade-offs among distributed platforms and tap into the benefits of various consensus mechanisms to get the best of all worlds🚀
What is Cross-chain?⛓
Cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value. Doing so breaks the siloed nature of blockchains to create an intertwined distributed ecosystem. 🙌
Cross-chain technology allows users to overcome common trade-offs among distributed platforms and tap into the benefits of various consensus mechanisms to get the best of all worlds🚀
Hey community,
You already know what's Reveal (recently, we covered the definition in #NFTDictionary), right?
Now we want to open the cards for you more but at first, answer the question:
Did you like the surprise eggs in childhood? 🥚🥚🥚
Our ARPC NFT Turtle is like that! 🐣
At first, it appeared as one to everyone, so you got your unique piece of art after it opened! 🎉🎉🎉
Tell us what you think about it in the comments!⬇️⬇️⬇️
You already know what's Reveal (recently, we covered the definition in #NFTDictionary), right?
Now we want to open the cards for you more but at first, answer the question:
Did you like the surprise eggs in childhood? 🥚🥚🥚
Our ARPC NFT Turtle is like that! 🐣
At first, it appeared as one to everyone, so you got your unique piece of art after it opened! 🎉🎉🎉
Tell us what you think about it in the comments!⬇️⬇️⬇️
#NFTDictionary is on air again!🙌
Let's talk about the metaverse today👾
The metaverse is a blending of physical and virtual reality — a digital extension of the real world🤖
According to this futuristic vision of tomorrow, everyday reality will transform, and people will live, play, shop, and work with others around the globe in an immersive, interoperable augmented world. Many Web3 protocols, such as NFTs, may be used in the future metaverse☝️
For example, ARPC is working on centering much of its utility on gaming experiences and digital events that unite physical and virtual reality in the metaverse🦾🕹
Let's talk about the metaverse today👾
The metaverse is a blending of physical and virtual reality — a digital extension of the real world🤖
According to this futuristic vision of tomorrow, everyday reality will transform, and people will live, play, shop, and work with others around the globe in an immersive, interoperable augmented world. Many Web3 protocols, such as NFTs, may be used in the future metaverse☝️
For example, ARPC is working on centering much of its utility on gaming experiences and digital events that unite physical and virtual reality in the metaverse🦾🕹
✨#NFTDictionary✨
UTILITY TOKEN🪙
A utility token is a cryptocurrency that provides access to (and is used to interact with) a decentralized application or service. The tokens are used in the internal economy of a specific project.
Play-to-earn (P2E) is a type of online game where gamers are awarded utility tokens for successful game performance. These utility tokens can be used to purchase in-game virtual goods and can be even converted into other crypto or fiat currencies💸
Which crypto term do you want to learn about next?🧐
UTILITY TOKEN🪙
A utility token is a cryptocurrency that provides access to (and is used to interact with) a decentralized application or service. The tokens are used in the internal economy of a specific project.
Play-to-earn (P2E) is a type of online game where gamers are awarded utility tokens for successful game performance. These utility tokens can be used to purchase in-game virtual goods and can be even converted into other crypto or fiat currencies💸
Which crypto term do you want to learn about next?🧐
✨#NFTDictionary ✨
What is On-Chain?🔗
A blockchain system is essentially a network that contains a distributed ledger that can be considered as a shared database. The transactions that are recorded on the blockchain itself and shared with all of the participants are done on-chain⛓
On-chain transactions are transactions that occur on a blockchain, which are reflected on the distribution as well as the public ledger.
The on-chain transactions are those that have already been validated as well as authenticated by the miners or authenticators. These can in turn lead to an overall update to the blockchain network itself.
What is On-Chain?🔗
A blockchain system is essentially a network that contains a distributed ledger that can be considered as a shared database. The transactions that are recorded on the blockchain itself and shared with all of the participants are done on-chain⛓
On-chain transactions are transactions that occur on a blockchain, which are reflected on the distribution as well as the public ledger.
The on-chain transactions are those that have already been validated as well as authenticated by the miners or authenticators. These can in turn lead to an overall update to the blockchain network itself.
#NFTDictionary is on air today!🚀
Let's take a closer look at...
✨ROADMAP✨
An NFT project roadmap is a bit like an investment deck. It’s a document that maps out the goals, milestones, and strategies of an NFT project to communicate the project’s value and utility.
They help the NFT creators and NFT owners to align on expectations. As an NFT project progresses, its roadmap is updated with new features and releases.
Which NFT term do you want to see next❓
Let's take a closer look at...
✨ROADMAP✨
An NFT project roadmap is a bit like an investment deck. It’s a document that maps out the goals, milestones, and strategies of an NFT project to communicate the project’s value and utility.
They help the NFT creators and NFT owners to align on expectations. As an NFT project progresses, its roadmap is updated with new features and releases.
Which NFT term do you want to see next❓
#NFTDictionary
What does whitelist mean in crypto world?🤍
A whitelist is a group of users 👨👩👦👦 who are given early access to purchase an item from an NFT collection before the project is publicly available🤫
The whitelist is usually small in size, with a select group of users who are handpicked by the NFT creators as a way of generating interest before the public mint🚀
What does whitelist mean in crypto world?🤍
A whitelist is a group of users 👨👩👦👦 who are given early access to purchase an item from an NFT collection before the project is publicly available🤫
The whitelist is usually small in size, with a select group of users who are handpicked by the NFT creators as a way of generating interest before the public mint🚀