An NFT (non-fungible token) is a unique digital item stored on a blockchain. NFTs can represent almost anything, and serve as a digital record of ownership. How do NFTs work? NFTs operate on blockchain technology. The blockchain is basically a large, digital, public record. The most popular blockchains are distributed across many nodes (read: people’s computers), which is why you’ll hear them described as “decentralized.” So instead of a central company-owned server, the blockchain is distributed across a peer-to-peer network. Not only does this ensure that the blockchain remains immutable, it also allows the node operators to earn money, instead of a single company. Because the blockchain records and preserves history, it is uniquely positioned to transform provable authenticity and digital ownership. When someone creates, transfers, buys, sells, or otherwise does something with an NFT, that all gets recorded on the blockchain. This is what enables authentication. This record serves as a permanent statement of authenticity that can be viewed or accessed by anyone. Today, when you buy a piece of art or a collector's item, it typically comes with a paper certificate of authenticity, which you must then keep track of forever. It is easily forgotten, lost or destroyed, creating a very fragile system for authenticity. Blockchain’s offer a simple and more secure solution to this long standing issue of proving authenticity.

In web3, the term “gas fee” refers to the payment needed to execute transactions on the blockchain. These payments compensate the node operators who keep the blockchain functioning. This validation helps ensure the blockchain has a permanent, immutable record. We’ll walk you through the purpose of gas fees, what impacts them, how to avoid paying high fees, how fees differ by blockchain, and how OpenSea makes it easy to keep costs to a minimum. Let’s dive in.

In simple terms, a crypto wallet helps you buy, sell, and store your cryptocurrency and (in many cases) your NFTs. Going a level deeper, a crypto wallet manages access to your private key, which is needed to control a blockchain wallet address. Your cryptocurrency and NFTs are not stored in/on a crypto wallet; they remain on the blockchain and can be accessed, controlled, and managed through use of a crypto wallet. Think of your wallet as the key to your address on the blockchain — you use the key to open the safe where your items are stored on the blockchain and use the key to send/receive items to/from your address on the blockchain. Just like any key, security of your wallet and private key (or seed phrase) are critically important. In this article, we’ll walk through the types of crypto wallets and how to set one up.

Creating an NFT on intberry is intuitive and easy. You just need to decide what the purpose and genre of your collection is, set up a crypto wallet, choose a blockchain, create a collection, and mint or drop your NFT(s). Who can create an NFT? Anyone can create an NFT. Your NFT can be as simple as the media itself, but it can also represent something more. For example, your NFT can simply be a piece of art, or it can be a piece of music represented by a GIF or a photograph.

An NFT drop happens when a new NFT collection is released. NFT drops can vary in both how the NFTs are sold (listed for sale or auction), and in who they’re released to (the public, or a specific list called an “allowlist”). Often, NFT drops coincide with when the NFTs in the collection are minted, that is, written to the blockchain. You might hear these terms used interchangeably— a drop might be referred to as the project’s mint.

An NFT marketplace website is a blockchain online trading platform that allows you to store, sell and buy non-fungible tokens. The functionality of such a service permits users to create their own NFTs. To do this, special smart contracts add metadata to each new asset and specify all the necessary parameters, including the name, inseparability and address in the blockchain. After that, NFTs can also be put up for auction or at a fixed price. Recently, the list of supported cryptocurrencies has expanded significantly, but Ethereum remains the most popular. The list of wallets also differs from site to site, but almost all of them work with MetaMask and Trust Wallet. Cryptocurrencies are digital currencies secured by cryptography and don't exist in physical forms like the US dollar. Popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Polkadot (DOT), Polygon (MATIC) are supported by an underlying technology called blockchain, which acts as a decentralized digital ledger. Every cryptocurrency transaction is recorded on the blockchain and becomes unchangeable once confirmed and validated. Unlike traditional currencies that rely on banks for centralized control, cryptocurrency transactions occur on a public blockchain accessible to anyone. Furthermore, depending on the consensus mechanism, anyone can validate transactions and add them to the blockchain, making cryptocurrencies decentralized.