Terminology

NFT (Non-Fungible Token): A digital asset that represents ownership of a unique item or piece of content.

Marketplace: An online platform where NFTs are bought and sold using a decentralized marketplace contract on the Koinos blockchain.

Koinos: The blockchain network on which the NFT marketplace is built.

Wallet: A digital wallet used to store and manage Koinos-based NFTs and cryptocurrency.

KOIN: The native cryptocurrency of the Koinos blockchain.

Mana: A property of KOIN that is not a token. It's how transaction fees are handled on Koinos and it regenerates automatically like a battery enabling fee-less transactions.

KCS-2: The technical standard used to create and manage NFTs on the Koinos blockchain.

Minting: The process of creating a new Koinos-based NFT.

Royalties: A percentage of the sale price paid to the creator of a NFT each time it is resold on the marketplace.

Floor price: The lowest asking price for an NFT on the marketplace. It represents the current minimum price at which an NFT in a particular collection can be purchased.

Volume: The total amount in KOIN of NFTs that have been traded on the marketplace over a specific time period (24h and 7 days).

Token ID: A unique identifier assigned to each NFT on the blockchain, which distinguishes it from all other NFTs. It is used to verify ownership and facilitate transactions.

Off-chain metadata: Additional information about an NFT that is stored off-chain, sometimes via IPFS and other times on a centralized server.

Immutable: Smart contracts on the blockchain that are designed to be unchangeable once deployed. They ensure that the terms of the contract cannot be altered after the fact, providing security and transparency for all parties involved in a transaction. In the context of NFTs, immutable contracts are used to enforce ownership and transfer of the digital asset.

Drops: A NFT collection that will be minted on Kollection in the near future. Take a look at the Drops page for more information.