NFT NFT Art Collecting and Curation

Question 1

What is a key factor collectors consider when evaluating the provenance of an NFT artwork?

Accepted Answer

The blockchain record of ownership history

Answer

The size of the image file

Answer

The artist's social media follower count

Answer

The color palette used in the artwork

Question 2

What does 'floor price' mean in the context of an NFT collection?

Accepted Answer

The lowest price at which any NFT in a collection is listed for sale

Answer

The average price of all NFTs in a collection

Answer

The highest recorded sale price in a collection

Answer

The artist's recommended minimum selling price

Question 3

Which platform is widely used by NFT collectors to track portfolio value and collection analytics?

Accepted Answer

NFTBank

Answer

Instagram

Answer

OpenSea Portfolio

Answer

Question 4

What is a 'whale' in NFT collecting terminology?

Accepted Answer

A collector who holds a very large quantity of valuable NFTs

Answer

A type of generative art algorithm

Answer

An NFT depicting ocean wildlife

Answer

A smart contract vulnerability

Question 5

What is the primary purpose of a 'burn' mechanism in some NFT collections?

Accepted Answer

To permanently destroy NFTs and reduce the total supply

Answer

To transfer NFTs to another blockchain

Answer

To change an NFT's metadata

Answer

To list an NFT for auction

Question 6

When curating an NFT art collection, what does 'blue chip' typically refer to?

Accepted Answer

NFTs from well-established, high-value projects with proven track records

Answer

A specific blockchain network color coding

Answer

Free NFT airdrops from major platforms

Answer

NFTs priced below 1 ETH