Free Introduction to NFT Art Question and Answers

Question 1

When you buy an NFT what do you get in the end?

Accepted Answer

The NFT itself

Answer

The ability to sell the NFT

Answer

The copyright of the original work

Answer

The ability to reproduce or sell the original work

Question 2

How many pieces are in the CryptoPunks collection?

Accepted Answer

More than 10,000

Answer

10,000

Answer

Less than 100

Answer

1,000

Question 3

What are CryptoPunks?

Accepted Answer

Pixel art characters that have become icons of the cryptocurrency world

Answer

A means of payment

Answer

A marketing tool for the technology

Answer

A type of NFT that is difficult to create

Question 4

Before NFTs, what was the closest thing to "owning" digital artwork?

Accepted Answer

There was no opportunity to assume complete ownership of the work.

Answer

Before selling digital artwork, creators need to get "legal" ownership of the work.

Answer

NFTs allow creators to sell their original works and display them as they wish.

Answer

That process is called minting, which means tokenizing an artwork on cryptocurrency service, blockchain.

Question 5

What is the main advantage of creating an NFT for your artwork?

Accepted Answer

You can easily sell it and not worry about hackers or scammers

Answer

It's impossible for someone to steal your work

Answer

You can mint it for free

Answer

You can make it public before you mint it

Question 6

What is the percentage of royalties received by artists when their work is resold?

Accepted Answer

8-10%

Answer

4-5%

Answer

2-3%

Answer

6-7%

Question 7

If the value of cryptocurrency changes, what also changes?

Accepted Answer

The value of the artwork

Answer

The year the artwork was made

Answer

The type of artwork

Answer

The artist who made the artwork