0% 5 Created by LubaNFT NFT test your knowledge 1 / 29 What is a Non-Fungible Token (NFT)? A. A unique digital asset that can represent ownership of anything from digital art to virtual real estate An exchangeable digital item that can be exchanged for cryptocurrency A coded contract stored on the blockchain A distributed ledger technology 2 / 29 What protocol is used to create NFTs? Blockchain ERC-721 Ethereum Bitcoin 3 / 29 What are some factors to consider when choosing a platform for creating NFTs? Reputation and reliability Fee structure Community and user base All the above 4 / 29 What is one important thing to consider when choosing the file format for an NFT? The color scheme of the digital art The level of creativity in the digital art The file size of the digital art The length of time it took to create the digital art 5 / 29 What is the process of minting an NFT? Conceptualizing and creating a digital asset Uploading the digital asset to a blockchain-enabled platform Completing a minting process that assigns a unique identifier to the NFT All of the above 6 / 29 What should investors consider before investing in NFTs? The reliability of the platform The volatility and risks associated with NFTs The value and uniqueness of the NFTs All of the above 7 / 29 What are NFTs and how can investors buy and sell them? Unique digital assets stored on a blockchain that cannot be replicated; investors can buy and sell them on online marketplaces such as OpenSea, Nifty Gateway, and SuperRare. Before investing, it is important to research the creator, rarity, and potential for future appreciation. Non-profit organizations that offer various investment opportunities; investors can buy and sell them on online marketplaces such as OpenSea, Nifty Gateway, and SuperRare. Before investing, it is important to research the creator, rarity, and potential for future appreciation. Cryptocurrency tokens that can be replicated and are not stored on a blockchain; investors can buy and sell them on online marketplaces such as OpenSea, Nifty Gateway, and SuperRare. Before investing, it is important to research the creator, rarity, and potential for future appreciation. 8 / 29 What is a hardware wallet and why is it important for NFT storage? A physical device that stores private keys offline, protecting them from hackers and online threats A software program that allows easy access to NFTs A tool for backing up NFTs in a secure location None of the above 9 / 29 What is one key factor in profitable NFT investment strategies? Proper research and analysis of the NFT market Following celebrities and sports teams Investing only in NFTs that are currently popular on social media 10 / 29 What is one of the most important factors to consider when pricing your NFTs? The artist's reputation The rarity of the NFT The quality and uniqueness of your work Market trends 11 / 29 What is an NFT marketplace? A physical marketplace for art collectors and investors An online platform for buyers and sellers of physical artwork An online platform for buyers and sellers of unique digital assets stored using blockchain technology 12 / 29 What is one benefit of using an NFT marketplace? Ability to discover new and emerging artists Fluctuating value of NFTs Limited options for digital art exploration 13 / 29 What is one of the primary features of popular NFT marketplaces? Accessibility Direct and royalty-based profit system Secure and reliable authentication process All of the above 14 / 29 What is the fee structure for primary and secondary sales on OpenSea and Rarible? OpenSea charges 2.5% on primary sales and 2.5% on secondary sales, while Rarible charges a 2.5% fee on primary and secondary sales and allows creators to collect up to 10% royalties on every secondary sale OpenSea charges a 10% fee on primary and secondary sales, while Rarible charges a 2.5% fee on primary sales and a 5% fee on secondary sales. OpenSea charges a 5% fee on primary and secondary sales, while Rarible charges a 10% fee on primary sales and a 2.5% fee on secondary sales. OpenSea charges a 2.5% fee on primary and secondary sales, while Rarible charges a 5% fee on primary and secondary sales. 15 / 29 What is the importance of user interface (UI) in digital marketplaces, particularly for non-fungible token (NFT) marketplaces? UI is not important in digital marketplaces. UI is only important for fungible token marketplaces. UI is important for NFT marketplaces as it should be intuitive and user-friendly UI is important for NFT marketplaces only when users trade common digital assets. 16 / 29 What do NFT gaming communities provide for individuals? A platform to buy, sell, and trade unique digital assets A space to connect with gamers, collectors, and enthusiasts Opportunities to monetize gaming skills and investments All of the above 17 / 29 What are some benefits of joining NFT gaming communities? Ownership of rare in-game items as NFTs Sense of community and collective experience Opportunities for participation in game development and governance All of the above 18 / 29 What are some types of events organized in NFT gaming communities? Tournaments Scavenger hunts Live streams All of the above 19 / 29 What is one of the key aspects of collaborating with other creators in NFT gaming communities? Finding individuals with complementary skills Establishing clear communication channels Creating a supportive and innovative community All of the above 20 / 29 What potential challenges should players consider when participating in NFT gaming communities? Volatility of the cryptocurrency market Environmental impact Both A and B None of the above 21 / 29 What is the first step to creating a powerful brand for your NFT? Developing messaging and content that resonates with your audience Thinking about how you want your brand to be perceived Defining your target audience. Staying consistent across all touchpoints 22 / 29 What is an NFT smart contract audit? A review of the artwork or music associated with an NFT A test of the blockchain technology that underpins NFTs An analysis of the code and logic behind an NFT's smart contract A method for buying and selling NFTs safely and securely 23 / 29 What is an NFT smart contract audit? A review of the artwork or music associated with an NFT A test of the blockchain technology that underpins NFTs An analysis of the code and logic behind an NFT's smart contract A method for buying and selling NFTs safely and securely 24 / 29 What is the importance of NFT audits in the NFT market? They provide limited ownership of virtual items. They verify the security and functionality of smart contracts. They ensure the availability of virtual items. They enhance the popularity of blockchain technology 25 / 29 What are best practices for ensuring secure NFT smart contracts? Conduct thorough testing Keep code and libraries up-to-date Keep code transparent and open for review Monitor the smart contract regularly All of the above 26 / 29 What is the role of auditors in NFT smart contract audits? To buy and sell NFTs To create NFTs To identify potential vulnerabilities and risks in NFT smart contract technology 27 / 29 Why are smart contract audits important for NFT development? To ensure that contracts have vulnerabilities To reduce the likelihood of biased auditing To identify and fix any vulnerabilities To increase financial losses for developers and investors 28 / 29 What is the current state of regulations for NFTs? They are well-established and clearly defined They are still being developed and are evolving They are non-existent They have been banned in many countries What is one of the biggest debates 29 / 29 What is one of the biggest debates surrounding the taxation of NFTs? Whether they should be considered as property or as a form of currency Whether they should be taxed at all Whether they should be subject to income tax Whether they should be treated as a collectible item. Your score is The average score is 88% LinkedIn Facebook Twitter VKontakte