Let’s talk about non-fungible tokens (NFTs).
Many NFTs only store a tokenId and a metadata link on-chain, while the images are often hosted on IPFS or on the project’s servers.
To be honest, I hadn’t paid attention to this point before: before buying an NFT, check the collection’s contract address. Many collections have the same name, so don’t go by the image and name alone.
Minting and trading NFTs on Ethereum both require $ETH to pay gas. Currently 2423.16.
Understand how it works before you get started, and don’t make decisions on impulse.
Be aware of the risks and make your own judgment.
Many NFTs only store a tokenId and a metadata link on-chain, while the images are often hosted on IPFS or on the project’s servers.
To be honest, I hadn’t paid attention to this point before: before buying an NFT, check the collection’s contract address. Many collections have the same name, so don’t go by the image and name alone.
Minting and trading NFTs on Ethereum both require $ETH to pay gas. Currently 2423.16.
Understand how it works before you get started, and don’t make decisions on impulse.
Be aware of the risks and make your own judgment.