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Facts About NFTs
NFTs are unique - Unlike cryptocurrencies, each NFT is unique. Each NFT minted is a verifiably unique asset worth as much as someone is willing to pay for it.
NFTs help artists reach new audiences - NFTs, dubbed the "new disruptor" in the art market, are making waves in a sector previously dominated by traditional investors. Marketplaces are now connecting artists with investors looking for the next big thing.
NFT artists can receive indefinite royalties - Unlike traditional art, where the artist relinquishes all rights once the piece is sold, NFTs allow for ongoing income. The original artists can receive a percentage of each sale thanks to blockchain technology and smart contracts, even after a piece has changed hands multiple times.
Smart contracts mean anything digital can become an NFT - Anything digital has the potential to become an NFT. The technology's adaptability means that almost anything can be tokenized. To name a few examples, domain names, in-game assets, tweets, songs, and videos can all be linked to a smart contract to establish proof of ownership.
Forgeries don’t exist in the NFT world - With some experts estimating that more than half of all art on the market is likely fake, the risks of investing in physical art are high. NFTs provide a solution to this problem by allowing artists to use the blockchain's ledger to prove provenance and establish a chain of ownership.
Real estate NFTs and the virtual lands - Virtual Real Estate exists in the NFT space and is a massive market, with many NFT collectors profiting millions of dollars simply by investing in Virtual Real Estate. You can buy your own home in the Metaverse or buy land and build your own home in these virtual worlds.