NFTs for Beginners: Understand how NFTs are revolutionizing the concept of digital ownership 9789355517869

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General Ebook Solution
Cover Page
Title Page
Copyright Page
Dedication Page
About the Author
About the Reviewer
Acknowledgement
Preface
Errata
Table of Contents
1. Introduction to Non-Fungible Tokens
Structure
Objectives
Introduction to NFTs
Understanding the meaning of NFTs
Characteristics of NFTs
Features of NFTs
Types of NFTs
Elements of NFTs
Uses of NFTs
Working of NFTs
NFTs ownership rights
Trading of NFTs
Planning to buy NFTs
Buying, creating, and selling NFTs
Buying NFTs
Creating NFTs
Selling NFTs
Pros and Cons of NFTs
Ideal investment as NFTs
Technical aspects of NFTs
Start your journey with NFTs
Conclusion
Key terms
Multiple Choice Questions
Answers
2. Understanding Tokens, Fungible and Non-Fungible
Structure
Objectives
Introduction to tokens
Definition of token
Working of Crypto tokens
Detailed working of Crypto tokens
Structure of token
Examples of Crypto assets
Translation of digital tokens into real money
Importance of tokens in the financial business
Tokens: a potential threat
Use of equity tokens
Benefits of an equity token
Purpose of asset tokens
Benefits of asset tokens
Significance of tokens
Understanding the term fungible and non-fungibility
Fungible and nonfungible tokens
How tokens are different from cryptocurrencies
Meaning of fungible and nonfungible tokens in blockchain
Foundation for comparing fungible and non-fungible tokens
Difference between fungible and non-fungible tokens
Token standards
Token standard ERC20
Token standard ERC721
Token standard ERC777
Token standard ERC1155
Token standards for other blockchains
Token standards for Tezos
Ethereum token
What is an Ethereum token?
ERC-20
Conclusion
Key Terms
Multiple Choice Questions
Answers
3. About NFTs
Structure
Objectives
Importance of NFTs
Value of collectibles
Digital art before NFTs
When the Internet meets digital art
Art that pushes boundaries
Advantages of NFTs
Beginning of NFTs
The history of non-fungible tokens
Colored coins, 2012-2013
Counterparty 2014
Spells of genesis on counterparty in 2015
Trading cards on counterparty in 2016
Rare pepes on counterparty in 2016
CryptoPunks in 2017
The NFT explosion, 2018-2021
The first NFT
Andy Warhol presents pop art
Beeple’s cyberpunk worlds meet NFTs
Utilizing three wallets to sell it from one to the other
History of digital art
Digital art: a real art
Purpose of digital art
Advantages and disadvantages of digital art
CryptoKitty
Working of CryptoKitties
Things to know before buying CryptoKitty
Offer
Breeding
Selling or siring
Buying a Cryptokitty
Introduction to the wallet
Different types of digital wallets
Top 5 NFT wallets
Benefits of using an NFT wallet
Things to consider when looking for the finest NFT wallet
Setup a Crypto wallet
Hosted wallets
Steps to set up a hosted wallet
Self-custody wallets
Need for a non-custodial wallet
Hardware wallets
Conclusion
Key Terms
Multiple choice questions
Answers
4. Understand the Game of NFTs
Structure
Objectives
NFTs games
Working of NFT games
Play-to-earn NFT games
NFTs in-game
Revenue model for NFT games
NFT popular games
Metamask
Get started using MetaMask
Benefits of MetaMask
Drawbacks of MetaMask
Alternatives to MetaMask
MetaMask's prospects
Risk of MetaMask
MetaMask - A secure program
MetaMask in the news in 2022
Install, use, and secure your MetaMask wallet
Step-by-step guide on using MetaMask
Usage of Seed phrase to backup and restore the wallet
Secure your MetaMask wallet
Conclusion
Key terms
Multiple Choice Questions
Answers
5. NFTs: A Cryptocurrency
Structure
Objectives
NFTs: A cryptocurrency or not
The meaning of NFTs
A refresher on blockchain
NFTs and their science
NFT vs Crypto
The ABCs of Crypto
The Heck of NFTs
The ‘F’ in ‘NFT’
Related, but different
Investing in NFTs
Steps to invest in NFTs
Regulated use of NFTs
Legal issues, taxation aspects, and more
NFT regulatory challenges and concerns
NFTs as commodities
NFTs as securities
NFTs as intellectual properties
Current NFT regulation laws and standards
NFTs are governed by anti-money laundering regulations
State laws governing virtual currency apply to NFTs
NFTs and consumer law
Legal concerns with NFT that you should be aware of
NFTs and intellectual property rights
The risk to cybersecurity is increased by NFTs
Takeover of an account
Are NFTs a wise investment?
Investing in NFTs
NFT investing strategies
Investing in NFTs is a wise move
Make money with NFT
Top 7 NFT trading strategies
Profit in NFT investments
Conclusion
Key terms
Multiple Choice Questions
Answers
6. NFTs Marketplaces
Structure
Objectives
Introduction to NFTs Marketplaces
NFTs Marketplaces
NFT Marketplace features
Important spots in the NFT marketplace
Important specifications to look for in an NFT Marketplace
Working of NFT marketplaces
Creating an NFT marketplace
Types of NFT marketplaces
OpenSea
Selling an NFT using OpenSea
Rarible
AtomicMarket
NBA Top Shot
Nifty gateway
SuperRare
Alcor NFT/Alcor Exchange
Wax (Atomic hub)
Foundation
VeVe
Crypto.com
Magic Eden
Binance
NFT fees on Binance
Tips for selecting NFTs Marketplaces
Conclusion
Key terms
Multiple choice questions
Answers
7. Security of NFTs
Structure
Objectives
NFTs security
Working of NFTs
Are NFTs safe?
Understanding NFTs’ possible threats
Possible NFTs security solutions (how to secure NFTs)
Software and hot storage crypto wallets
Hardware and cold crypto wallets
The future of NFTs
Re-entrant attack
Smart contract reentrancy attacks
Taking advantage of our smart contract
Reentrancy attack: A significant problem
Working of a reentrancy attack
Protecting smart contracts against a reentrancy attack
Blockchain-related issues
DOS attack
DoS attack example
Spoofing
Bots continue to be a big problem
Information leakage
The function of private keys
Security flaws in NFTs must be fixed
Tampering
The risks of data tampering
How to keep your assets safe
Protecting against a hack of your NFT
Tips to keep your digital assets safe
An NFT could be taken
NFTs: How are they robbed
Preventing the theft of your NFTs
Recovering a stolen NFT
Conclusion
Key terms
Multiple Choice Questions
Answers
8. Creating, Buying, Selling, and Mining NFTs
Introduction
Structure
Objectives
Creating and funding your account
NFTs explained
NFT artwork is rarely stored on the blockchain
Selling an NFT
Choosing a platform to sell your NFT
Option of minting NFTs
Vox media’s gaming-focused outlet - polygon
Using a marketplace
Setting up a wallet
Connecting your wallet
Creating an NFT
Listing an NFT on OpenSea
Listing an NFT on Rarible
Using your NFT
Conclusion
Key terms
Multiple choice questions
Answers
9. Legal Aspects and Future of NFTs
Introduction
Structure
Objectives
NFTs securities
United States and NFT securities
United Kingdom and NFTs
Hong Kong
China
Intellectual Property Rights
Possibility of forging NFTs
Using NFTs as a counterfeit protection
Right to Publicity
Right of Privacy
Contracts
Taxes
Understanding the anatomy of NFT
Property rights of NFTs
NFTs and digital property
NFTs and real property
Metaverse
Non-bankable assets
Digital wallets
Conclusion
Key terms
Multiple Choice Questions
Answers
Index