A non-fungible token (NFT) is a type of cryptographic token which represents something unique. Or put another way, non-fungible tokens are not mutually interchangeable by their individual specification in the way that crypto assets such as Solana
A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community, and taken through smart contracts on a blockchain.
Typically a token is required to become part of the DAO. Token ownership gives you governance or voting rights which can influence organization decisions. Decisions are taken based on the majority of votes, so the more tokens you have the more power you get.
To get started with NFTs, you’ll need a digital wallet (We recommend Phantom) and cryptocurrency (Solana). The wallet will store your NFTs, and the cryptocurrency will be used to pay for the gas fees required to move the NFT from one wallet address to another. Gas fees vary depending on the network and NFT platform you choose. We Chose Solana for many reasons, but mainly the very cheap gas fees
A recovery phrase (sometimes known as a seed phrase) is a series of words generated by your cryptocurrency wallet that gives you access to the crypto associated with that wallet.
NEVER EVER GIVE ANYONE YOUR PHRASE! EVER!
Decentralized Exchange (DEX) Aggregator is a complex, engineered tool that allows users to get out the best price from a variety of different decentralized Exchanges.
A few good ones here.
A rug pull is essentially a project where founders have run away with investors’ funds and failed to deliver on their promises, or the project roadmap. The name refers to the colloquial phrase “getting the rug pulled from underneath you”.
DYOR, or Do Your Own Research is the most paramount part of trading projects in this space. Visit Discords and Twitters and use as many avenues to get the most accurate information on projects before investing your hard earned SOL.
A few places to get information
A doxxed NFT is one whose creator is publicly identified. Creators choose to dox themselves to show transparency and build trust with their community. Those who choose to dox themselves are willing to put their entire reputation on the line. In the web3 space, being doxxed is considered a good trait.
Here's a great article on this subject.
https://wire.insiderfinance.io/4-tips-for-risk-management-when-buying-nfts-adf1a9c51f88
NFT staking is the act of locking up an asset and earning passive income through cryptocurrency. Some collections permit users to deposit NFT for an indefinite lockup, while others require that NFTs be staked for a certain time before they can be unstaked.
Pump-and-dump is a manipulative scheme that attempts to boost the price of a stock or security through fake recommendations. These recommendations are based on false, misleading, or greatly exaggerated statements.
A non-fungible token (NFT) is a type of cryptographic token which represents something unique. Or put another way, non-fungible tokens are not mutually interchangeable by their individual specification in the way that crypto assets such as Solana
A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community, and taken through smart contracts on a blockchain.
Typically a token is required to become part of the DAO. Token ownership gives you governance or voting rights which can influence organization decisions. Decisions are taken based on the majority of votes, so the more tokens you have the more power you get.