What is the difference between NFT slang and NFT terms?

Now, there's a subtle difference between NFT slang and NFT terms, one is about causal language used online and the other covers the actual terminology of technology and processes. Read on to find if you're a diamond hands collector or a proud degen. 1:1 Art: This refers to an NFT being one single piece of art, not a series or generative collection.

What is NFT 'utility'?

And inside the NFT world, there’s now an increasing focus on “utility” — basically, bundling other things with an NFT purchase (like concert tickets, signed memorabilia or early access to future releases) to ensure there’s something of value included, even if the value of the NFT itself goes to zero. That still sounds kind of shady.

Are there Big NFT platforms?

It’s certainly true that there are large platforms in the NFT world. (The biggest, OpenSea, is valued at $13.3 billion .) And some crypto fans have criticized these platforms for engaging in behavior that undermines their claims of decentralization, such as OpenSea’s decision to delist certain NFTs that it deems stolen or fraudulent.