1️⃣ How do NFTs work?
NFTs are unique digital assets on blockchains (like Ethereum & Solana) that prove ownership & authenticity.
• Buy, sell, trade: On OpenSea, Magic Eden, even Telegram bots.
• Powered by smart contracts: Enable royalties & secure transfers.
• Stored in wallets: MetaMask, Phantom — lose keys, lose NFT.
2️⃣ Types of NFTs by use case:
🎨 Digital Art: Turn artwork into verified collectibles on the blockchain.
🎵 Music NFTs: Musicians sell songs/albums with resale royalties.
🎮 Gaming Items: Buy, sell, or trade virtual assets you truly own.
🌐 Virtual Real Estate: Own land in digital worlds like Decentraland.
🔑 Utility NFTs: Grant access to events, memberships, or exclusive perks.
3️⃣ NFTs by interactivity:
🖼 Static: Fixed images or collectibles, never change.
⚙️ Dynamic: Evolve over time or events (like leveling up).
🎮 Interactive: Used in games/metaverses as playable assets.
4️⃣ NFTs by token standards:-
⛓️💥 ERC-721:
The gold standard for single, unique NFTs, perfect for art & collectibles.
🔗 ERC-1155:
Handles multiple token types in one contract — ideal for games with many assets.
⛓️ Other blockchains:-
Flow (NBA Top Shot), BNB Smart Chain, and Solana have their own standards.
5️⃣Licensing & ownership rights:
🗝 Open: Anyone can use or remix (like Bored Apes).
🗝 Closed: Use is restricted — you own the NFT, not the IP (e.g., NBA Top Shot).
⚖ Partial: Some rights with the creator, some granted to you.
6️⃣ Under the hood:
🗂 Metadata:
NFTs point to files stored off-chain (often on IPFS), not the image itself.
💸 Royalties:
Smart contracts pay creators a cut on every resale, automatically.
🚨 Scams & theft:
Fake collections & phishing are common — always verify contracts.
⚡ Energy:
Old chains were energy-heavy Ethereum 2.0 & Solana are greener.
✅ In short:
NFTs make digital files ownable & tradeable unlocking new models for art, music & gaming but also carry risks Stay smart.
