OpenSea.io is the first and largest peer-to-peer marketplace for crypto-goods (like an eBay for crypto assets), which include collectibles, gaming items, and other virtual goods backed by the blockchain. On OpenSea, anyone can buy or sell these items through the use of smart contracts.

NFT Royalties are automatic payouts that the author created to be made from the sales on the secondary market.

Minting usually refers to the process of uniquely publishing a digital artwork or collectible on the blockchain for the first time, making it purchasable.

NFTs and cryptocurrencies go hand-in-hand, but they are not the same thing. While NFTs are basically stored on the same blockchains as certain cryptocurrencies, the difference is that the currencies are fungible. You can swap one Ethereum for another Ethereum and the value would be the same.

NFTs are bought and sold with cryptocurrency through a marketplace. The majority of NFTs are stored in smart contracts on the Ethereum blockchain using the ‘ERC-721’ standard. Ethereum is a long standing cryptocurrency, second to that of Bitcoin.

NFT stands for non-fungible token. Fungibility is defined simply as “the ability of an item to be replaced with another identical item”. To understand what this means, simply think of most of the things you own. Your phone, your laptop, your chair. Anything you could go and sell on eBay falls under the category of non-fungible items.