NFT 101
Do you own the Intellectual Property (IP) of NFTs?
No. Owning an NFT does not give you copyright or intellectual property ownership of the file or any of the vault content. This means that you can enjoy these image, audio or video files for yourself, but you cannot commercially exploit them unless ...
What does owning an NFT mean?
Owning an NFT is digital proof of ownership to a media file, such as a photograph, a video, or a music file that is recorded and stored on the blockchain. Some OneOf NFTs include OneOf-exclusive Vault Content which could be special IRL (in real life) ...
I've heard that NFTs are selling for millions of dollars. How can I afford an NFT?
Built on energy efficient “proof-of-stake” blockchains like Tezos and Polygon, minting an NFT on OneOf is thousands of times less expensive than other platforms that use more traditional “proof-of-work” blockchains. OneOf further subsidizes these low ...
Fungible? Non-Fungible? What does it all mean?
“Fungible” means interchangeable. For example, a General Admission ticket to a concert is exactly the same as (and includes the same benefits as) another General Admission ticket. “Non-fungible” means something is NOT interchangeable—such as a ...
What does "Minting" mean?
“Minting an NFT” is just another way of saying “storing on the blockchain”. If an NFT is a blockchain-based token that proves ownership of digital items such as an image, music or video files, “minting an NFT” refers to converting those digital files ...
Are NFTs bad for the environment?
Yes and no. NFTs minted on early generation blockchains, like Ethereum, generally require a lot of energy due to the way "proof-of-work" consensus algorithms behave to validate transactions. To mint a single NFT on “proof-of-work” blockchains is ...
What is an NFT?
NFT stands for "non-fungible token." They are built on blockchain technology similar to "fungible" tokens such as Bitcoin or Ethereum; however, each NFT is unique and can be a one-of-a-kind "edition" or part of a limited Drop Each NFT is based on a ...