NFT Terminology

Cryptocurrency Wallet A place where you can securely keep your crypto. There are many different types of crypto wallets, but the most popular ones have hosted wallets, non-custodial wallets, and hardware wallets. Blockchain A system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network. NFT Used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, and use blockchain technology to establish a verified and public proof of ownership. What is a Rug Pull? A rug pull is a common term used in the NFT community. It is when the creators of the project exit scams after mint. People rug pull projects to scam investors for money. You can avoid getting caught in a rug pull by only minting top-quality projects. There is always some inherent risk, though, when minting NFTs. WL/Whitelist This means early access essentially. Your spot is saved for the mint date and you get to the mint before the public sale. You get to avoid high gas fees since you can mint whenever you want within a specified period aka the presale.