Glossary of Terms

Understanding the terminology used in the NFT space will help you navigate the SR3TNFT platform more effectively.

NFT (Non-Fungible Token): A unique digital asset that represents ownership of a specific item or piece of content on the blockchain
Blockchain: A distributed digital ledger that records transactions across many computers
Smart Contract: Self-executing code on a blockchain that automatically implements the terms of an agreement
Gas Fee: A transaction fee paid to network validators for processing blockchain transactions
Base: The Layer 2 blockchain on which SR3TNFT operates, offering lower costs and faster transactions
Minting: The process of creating a new NFT on the blockchain
Wallet: A digital tool that allows users to store, send, and receive cryptocurrency and NFTs
Token Standard: A set of rules that define how an NFT functions (ERC-721 and ERC-1155 are common standards)
Metadata: Information about an NFT that is stored on-chain or referenced by the token
Provenance: The documented history of an NFT from creation through all transfers of ownership

In-App Wallet: SR3TNFT's managed wallet solution that handles technical blockchain details for you
Account Abstraction: Technology that simplifies blockchain interactions by handling complex operations behind the scenes
Platform Fee: The 3.7% fee charged on transactions to support platform operations and gas coverage
Creator Royalty: The 2.5% fee paid to original NFT creators on every resale
Price Scaling Factor: The algorithm that determines the price increase (6.9%-8%) after each trade
Universal Bridge: The technology that enables withdrawals to external wallets
Gas Sponsorship: SR3TNFT's coverage of all transaction gas fees for users
NFT Splitting: The process of dividing an NFT into multiple tradable fractions
Premium Membership: Optional subscription tiers offering enhanced platform features
Watchlist: Feature for tracking NFTs you're interested in but not yet ready to buy

Drop: A scheduled release of new NFTs or collections
Collection: A group of related NFTs, usually by the same creator or theme
Edition: A limited number of identical NFTs
One-of-One: A unique NFT with only one copy in existence
Attributes: Specific characteristics or traits assigned to an NFT
Rarity Score: A measure of how uncommon certain attributes are within a collection
Floor Price: The lowest available price for an NFT in a specific collection
Listing: An NFT that is available for purchase on the marketplace
Blue Chip: Established NFT collections with proven value and recognition

Last updated 29 days ago

Understanding the terminology used in the NFT space will help you navigate the SR3TNFT platform more effectively.

NFT (Non-Fungible Token): A unique digital asset that represents ownership of a specific item or piece of content on the blockchain
Blockchain: A distributed digital ledger that records transactions across many computers
Smart Contract: Self-executing code on a blockchain that automatically implements the terms of an agreement
Gas Fee: A transaction fee paid to network validators for processing blockchain transactions
Base: The Layer 2 blockchain on which SR3TNFT operates, offering lower costs and faster transactions
Minting: The process of creating a new NFT on the blockchain
Wallet: A digital tool that allows users to store, send, and receive cryptocurrency and NFTs
Token Standard: A set of rules that define how an NFT functions (ERC-721 and ERC-1155 are common standards)
Metadata: Information about an NFT that is stored on-chain or referenced by the token
Provenance: The documented history of an NFT from creation through all transfers of ownership

In-App Wallet: SR3TNFT's managed wallet solution that handles technical blockchain details for you
Account Abstraction: Technology that simplifies blockchain interactions by handling complex operations behind the scenes
Platform Fee: The 3.7% fee charged on transactions to support platform operations and gas coverage
Creator Royalty: The 2.5% fee paid to original NFT creators on every resale
Price Scaling Factor: The algorithm that determines the price increase (6.9%-8%) after each trade
Universal Bridge: The technology that enables withdrawals to external wallets
Gas Sponsorship: SR3TNFT's coverage of all transaction gas fees for users
NFT Splitting: The process of dividing an NFT into multiple tradable fractions
Premium Membership: Optional subscription tiers offering enhanced platform features
Watchlist: Feature for tracking NFTs you're interested in but not yet ready to buy

Drop: A scheduled release of new NFTs or collections
Collection: A group of related NFTs, usually by the same creator or theme
Edition: A limited number of identical NFTs
One-of-One: A unique NFT with only one copy in existence
Attributes: Specific characteristics or traits assigned to an NFT
Rarity Score: A measure of how uncommon certain attributes are within a collection
Floor Price: The lowest available price for an NFT in a specific collection
Listing: An NFT that is available for purchase on the marketplace
Blue Chip: Established NFT collections with proven value and recognition

Last updated 29 days ago