NFTs for Beginners: Understand how NFTs are revolutionizing the concept of digital ownership

Cover Page
Title Page
Copyright Page
Dedication Page
About the Author
About the Reviewer
Acknowledgement
Preface
Errata
Table of Contents
1. Introduction to Non-Fungible Tokens
	Structure
	Objectives
	Introduction to NFTs
		Understanding the meaning of NFTs
		Characteristics of NFTs
		Features of NFTs
	Types of NFTs
	Elements of NFTs
	Uses of NFTs
	Working of NFTs
	NFTs ownership rights
		Trading of NFTs
		Planning to buy NFTs
	Buying, creating, and selling NFTs
		Buying NFTs
		Creating NFTs
		Selling NFTs
		Pros and Cons of NFTs
	Ideal investment as NFTs
	Technical aspects of NFTs
	Start your journey with NFTs
	Conclusion
	Key terms
	Multiple Choice Questions
		Answers
2. Understanding Tokens, Fungible and Non-Fungible
	Structure
	Objectives
	Introduction to tokens
		Definition of token
		Working of Crypto tokens
		Detailed working of Crypto tokens
		Structure of token
		Examples of Crypto assets
		Translation of digital tokens into real money
	Importance of tokens in the financial business
		Tokens: a potential threat
		Use of equity tokens
			Benefits of an equity token
		Purpose of asset tokens
			Benefits of asset tokens
	Significance of tokens
	Understanding the term fungible and non-fungibility
		Fungible and nonfungible tokens
		How tokens are different from cryptocurrencies
		Meaning of fungible and nonfungible tokens in blockchain
		Foundation for comparing fungible and non-fungible tokens
		Difference between fungible and non-fungible tokens
	Token standards
		Token standard ERC20
		Token standard ERC721
		Token standard ERC777
		Token standard ERC1155
		Token standards for other blockchains
	Token standards for Tezos
	Ethereum token
		What is an Ethereum token?
		ERC-20
	Conclusion
	Key Terms
	Multiple Choice Questions
		Answers
3. About NFTs
	Structure
	Objectives
	Importance of NFTs
	Value of collectibles
	Digital art before NFTs
		When the Internet meets digital art
		Art that pushes boundaries
	Advantages of NFTs
	Beginning of NFTs
		The history of non-fungible tokens
		Colored coins, 2012-2013
		Counterparty 2014
		Spells of genesis on counterparty in 2015
		Trading cards on counterparty in 2016
		Rare pepes on counterparty in 2016
		CryptoPunks in 2017
		The NFT explosion, 2018-2021
		The first NFT
		Andy Warhol presents pop art
		Beeple’s cyberpunk worlds meet NFTs
		Utilizing three wallets to sell it from one to the other
	History of digital art
	Digital art: a real art
		Purpose of digital art
		Advantages and disadvantages of digital art
	CryptoKitty
		Working of CryptoKitties
		Things to know before buying CryptoKitty
		Offer
		Breeding
		Selling or siring
		Buying a Cryptokitty
	Introduction to the wallet
		Different types of digital wallets
		Top 5 NFT wallets
		Benefits of using an NFT wallet
		Things to consider when looking for the finest NFT wallet
		Setup a Crypto wallet
			Hosted wallets
			Steps to set up a hosted wallet
			Self-custody wallets
			Need for a non-custodial wallet
			Hardware wallets
	Conclusion
	Key Terms
	Multiple choice questions
		Answers
4. Understand the Game of NFTs
	Structure
	Objectives
	NFTs games
		Working of NFT games
		Play-to-earn NFT games
		NFTs in-game
		Revenue model for NFT games
	NFT popular games
	Metamask
		Get started using MetaMask
		Benefits of MetaMask
		Drawbacks of MetaMask
		Alternatives to MetaMask
		MetaMask\'s prospects
		Risk of MetaMask
			MetaMask - A secure program
		MetaMask in the news in 2022
	Install, use, and secure your MetaMask wallet
		Step-by-step guide on using MetaMask
		Usage of Seed phrase to backup and restore the wallet
		Secure your MetaMask wallet
	Conclusion
	Key terms
	Multiple Choice Questions
		Answers
5. NFTs: A Cryptocurrency
	Structure
	Objectives
	NFTs: A cryptocurrency or not
	The meaning of NFTs
	A refresher on blockchain
	NFTs and their science
	NFT vs Crypto
		The ABCs of Crypto
		The Heck of NFTs
		The ‘F’ in ‘NFT’
			Related, but different
	Investing in NFTs
		Steps to invest in NFTs
	Regulated use of NFTs
	Legal issues, taxation aspects, and more
		NFT regulatory challenges and concerns
		NFTs as commodities
		NFTs as securities
		NFTs as intellectual properties
	Current NFT regulation laws and standards
		NFTs are governed by anti-money laundering regulations
		State laws governing virtual currency apply to NFTs
		NFTs and consumer law
		Legal concerns with NFT that you should be aware of
		NFTs and intellectual property rights
		The risk to cybersecurity is increased by NFTs
		Takeover of an account
		Are NFTs a wise investment?
		Investing in NFTs
			NFT investing strategies
			Investing in NFTs is a wise move
	Make money with NFT
	Top 7 NFT trading strategies
	Profit in NFT investments
	Conclusion
	Key terms
	Multiple Choice Questions
		Answers
6. NFTs Marketplaces
	Structure
	Objectives
	Introduction to NFTs Marketplaces
	NFTs Marketplaces
		NFT Marketplace features
		Important spots in the NFT marketplace
		Important specifications to look for in an NFT Marketplace
		Working of NFT marketplaces
		Creating an NFT marketplace
		Types of NFT marketplaces
	OpenSea
		Selling an NFT using OpenSea
	Rarible
	AtomicMarket
	NBA Top Shot
	Nifty gateway
	SuperRare
	Alcor NFT/Alcor Exchange
	Wax (Atomic hub)
	Foundation
	VeVe
	Crypto.com
	Magic Eden
	Binance
		NFT fees on Binance
	Tips for selecting NFTs Marketplaces
	Conclusion
	Key terms
	Multiple choice questions
		Answers
7. Security of NFTs
	Structure
	Objectives
	NFTs security
		Working of NFTs
			Are NFTs safe?
			Understanding NFTs’ possible threats
			Possible NFTs security solutions (how to secure NFTs)
		Software and hot storage crypto wallets
		Hardware and cold crypto wallets
	The future of NFTs
	Re-entrant attack
		Smart contract reentrancy attacks
		Taking advantage of our smart contract
		Reentrancy attack: A significant problem
		Working of a reentrancy attack
		Protecting smart contracts against a reentrancy attack
	Blockchain-related issues
	DOS attack
		DoS attack example
	Spoofing
		Bots continue to be a big problem
	Information leakage
		The function of private keys
		Security flaws in NFTs must be fixed
	Tampering
		The risks of data tampering
	How to keep your assets safe
		Protecting against a hack of your NFT
		Tips to keep your digital assets safe
		An NFT could be taken
		NFTs: How are they robbed
		Preventing the theft of your NFTs
		Recovering a stolen NFT
	Conclusion
	Key terms
	Multiple Choice Questions
		Answers
8. Creating, Buying, Selling, and Mining NFTs
	Introduction
	Structure
	Objectives
	Creating and funding your account
		NFTs explained
			NFT artwork is rarely stored on the blockchain
	Selling an NFT
	Choosing a platform to sell your NFT
		Option of minting NFTs
			Vox media’s gaming-focused outlet - polygon
	Using a marketplace
		Setting up a wallet
		Connecting your wallet
	Creating an NFT
		Listing an NFT on OpenSea
		Listing an NFT on Rarible
		Using your NFT
	Conclusion
	Key terms
	Multiple choice questions
		Answers
9. Legal Aspects and Future of NFTs
	Introduction
	Structure
	Objectives
	NFTs securities
		United States and NFT securities
		United Kingdom and NFTs
		Hong Kong
		China
	Intellectual Property Rights
		Possibility of forging NFTs
		Using NFTs as a counterfeit protection
	Right to Publicity
	Right of Privacy
	Contracts
	Taxes
	Understanding the anatomy of NFT
	Property rights of NFTs
		NFTs and digital property
		NFTs and real property
	Metaverse
	Non-bankable assets
	Digital wallets
	Conclusion
	Key terms
	Multiple Choice Questions
		Answers
Index