Lesson 6 of 1,000 · Understanding Crypto Quickly
#6 What Are NFTs & How Are They Related To Web3?
Strip away the monkey pictures. NFTs are a primitive for ownership on the internet, see what they actually unlock.
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The unedited walkthrough for lesson 6 is not on the shelf yet. Read the lesson notes below in the meantime.
Key ideas
- Strip away the monkey pictures.
- NFTs are a primitive for ownership on the internet, see what they actually unlock.
Do it now
- UnlockMint your art on your own contract with a resale royaltyManifold lets you deploy a contract you own and set a royalty that marketplaces can read and pay on resales. Many marketplaces now treat royalties as optional, so it is a request, not a guarantee.
- UnlockMint art where the resale royalty is enforcedMetaplex Core on Solana enforces royalties by default, with allow and deny lists for which programs may trade your work.
- SolutionGet paid when your art resells: onchain royaltiesMint on a contract you own and set a resale royalty that marketplaces can read and pay automatically. List where royalties are honoured, thank the collectors who pay them, and your own contract doubles as public proof you made the work. Since 2023 many big marketplaces made royalties optional, so some resales pay and some will not.