What are the terms I need to familiarize before getting started？
List of terms
Last updated
List of terms
Last updated
We have consolidated a list of terms commonly used in the NFT space. It will be helpful to review them before getting started.
Non-Fungible Tokens (NFTs) are unique digital items with blockchain-managed ownership. Examples of NFTs include, but not limited to; digital art, collectibles, virtual reality items, crypto domain names, ownership records for physical assets.
Binance Smart Chain is a blockchain, and BNB is the currency used to make transactions on the Binance Smart Chain.
Think of gas fees as Binance Smart Chain transaction costs. DaiDai cannot lower or raise gas fees since they are determined by supply/demand across the entire network (blockchain).
A crypto wallet is an application or hardware device that allows individuals to store and retrieve digital assets.
Your wallet address is unique. It’s the address people will use when they are sending crypto or NFTs to your crypto wallet.
Your seed phrase is a list of words that can be used to recover your wallet should you forget your password or lose access to your wallet. When you first begin trading with your wallet, find your seed phrase and back it up somewhere safe, in multiple locations if possible. Don’t store your seed phrase on an online cloud storage service and never share it with anyone.
A collection is a body of work, like a store or gallery. If you see someone refer to a DaiDai collection as a store or gallery, don’t get confused – it’s all the same. We use the term collection to keep things simple.
