NFTs For Dummies

Häftad, Engelska, 2022

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Beskrivning

Get a grip on NFTs and learn how to get in the gameIt's not often that a brand-new investment comes along that revolutionizes how we buy and sell digital assets. But that's what non-fungible tokens (NFTs) did. Built on blockchain tech, NFTs are shaking up the world of digital commodity investing. And you can get your slice of the pie before everyone jumps into the arena.In NFTs For Dummies, you'll find straightforward answers to critical aspects of the NFT phenomenon. You'll learn exactly what non-fungible tokens really are, how you can find them, and even how to create your own valuable NFTs. You'll also discover: How to find reliable and safe NFT marketplaces where you can be sure you're dealing with reputable buyers and sellersA peek behind the NFT curtain to see how NFTs work and what, exactly, you own when you buy or make an NFTDiscussions of the kinds of digital properties that can be converted into an NFTPerfect for anyone who wants to learn about the market for buying, selling, and creating crypto collectibles, NFTs For Dummies is the only resource you'll need to get a handle on this cutting-edge tech and start making it work for you.

Produktinformation

Utgivningsdatum:2022-02-03
Mått:152 x 229 x 20 mm
Vikt:295 g
Format:Häftad
Språk:Engelska
Antal sidor:272
Förlag:John Wiley & Sons Inc
ISBN:9781119843313

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Mer om författaren

Tiana Laurence has been at the forefront of blockchain, cryptocurrency, and cryptocollectibles for her entire career. She is the author of Blockchain For Dummies and is the head of Laurence Innovation, a venture capital group.Seoyoung Kim, PhD, is an Associate Professor of Finance and Business Analytics at Santa Clara University where she teaches FinTech and Financial Engineering in the graduate business program.

Innehållsförteckning

Introduction 1About This Book 1Foolish Assumptions 2Icons Used in This Book 2Beyond the Book 3Where to Go from Here 3Part 1: Getting Started With Nfts 5Chapter 1: Introducing Non-Fungible Tokens 7Beginning at the Beginning: What Is a Non-Fungible Good? 9Exploring Uses for NFTs 10Finding Out How an NFT Works 11Buying NFTs 14Why buy NFTs 15NFTs as investments 15Proceeding on Your NFT Journey 16Chapter 2: Owning Your Own Nft 17Where It All Began: Non-Fungible Kitties 18Blockchain for the masses 18Not just a passing fad 20The impact of NFTs 20The game mechanics of CryptoKitties 23What’s In Your Wallet? Setting Up MetaMask 24Setting Up Coinbase 26Creating your Coinbase account 27Verifying your phone number 27Adding your personal information 28Verifying your identity and adding your bank account 28Adding funds to your wallet 29Collecting, Breeding, and Selling Your Very Own Non-Fungible (Crypto)Kitties 30Buying your first CryptoKitty 30Using the Offer function 31Breeding your kitties 31Chapter 3: The Future of NFTs 33Dissecting the Anatomy of a $69 Million NFT 33Redefining Property Rights (NFTs Are Not Just about Digital Art and Kitties!) 36NFTs and Digital Property 37Music, movies, and books 37Photos and other digital art 38Game assets 39NFTs and Real Property 39Homes, cars, and nondigital pets 40Art, jewelry, wine, and other collectibles 41Imagining the Possibilities 41Part 2: Buying And Selling Nfts 43Chapter 4: Getting In On The Nft Game 45Knowing the Ins and Outs of Buying NFTs 46Examining the success of early NFTs 46Thinking about NFTs as an investment 47Understanding the Risks of Hot Wallets like MetaMask 49Comparing hot wallets 50Weighing the pros and cons of hot wallets 50Uncovering Your MetaMask Wallet 52Installing MetaMask 52Securing your MetaMask wallet for Chrome and Firefox 55Buying Ether for Your MetaMask Wallet 55Exploring NFT Marketplaces 56Navigating the OpenSea of NFTs 57The Nifty Gateway 62Rarible’s decentralized governance 64Chapter 5: Investing In Nfts 69Understanding NFTs Are Not Cryptocurrency 70Introducing NFT Investing 71Deciding Whether NFT Investing Is for You 72NFT Investing Strategies for Beginners 73Valuing your NFT 74Choosing your strategy 76Discovering the Best-Performing NFTs 77Exploring Popular NFT Types 79Table of Contents vDigital art 79Collectibles 79Games 79Music 80Popular memes 80Reporting NFT Gains and Paying Taxes on NFTs 81Part 3: Developing Your Knowledge:A Step-By-Step Guide To ProgrammingYour Own Nft 83Chapter 6: What Is Ethereum? 85Revealing the Ethereum Virtual Machine 86Ether: The Gas That Fuels Your Transactions 88The journey of a transaction 89Compensating the (proof-of-) workers: What’s in it for the miners? 91From happy hour to surge pricing: Determining a reasonable gas price 92Setting your budget: Is the sky the (gas) limit? 94Transaction fees 96The Blockchain: Where It’s All Stored and Secured 99Ethash and proof of work: What makes Ethereum tamper-proof? 100Miners and nonces and bears — oh, my! 102How many “confirmations” until I’m actually confirmed? 102Uncles and orphans 104Hard forks: Updates to the underlying protocol 105Smart Contracts Make the EVM Go Round 106The nascent life of a smart contract 107Exciting possibilities 108Notable limitations 109Oracles: How to Connect to the “Outside” World 109Shining a Light on Ethereum’s Fundamental Structure 111The big picture 111Nuts-and-bolts of the blockchain 112Gas essentials 113Things that make the EVM an interesting place 114Chapter 7: Creating an Ethereum Account 115Understanding Externally Owned Accounts 116What it means to create an account 117Private versus public keys 118Digital signatures 121Discovering Contract Accounts 123Knowing the Difference Between Public Networks and Private Environments 126Local development environments 126Test networks 127Main network 127Preparing Your Accounts (on MetaMask) 128Renaming accounts on MetaMask 129Adding different ETH to different accounts 131Funding your testnet account 132Exploring the Ropsten testnet blockchain 135“Disappearing” balances 136Chapter 8: Setting Up a Development Environment 139Exploring Your Ethereum Solution Stack 140Elements of the Ethereum stack 140Here a stack, there a stack: Pre-made stacks 142Put On Your Hard Hat: Constructing Your Environment 143Setting up your local blockchain test environment 143Connecting a custom (Ganache) network to your MetaMask wallet 147Adding local (Ganache) accounts to your MetaMask wallet 150Synching the Remix IDE to your MetaMask wallet 158Chapter 9: Deploying Your First Smart Contract 163Working with Smart Contract Languages 164Starting with the Solidity version pragma 165Going from source code to bytecode 166Key Elements of a Smart Contract 168Data 168Functions 169Event logs 170No Need to Reinvent the Wheel: Using Smart Contract Libraries 171Ready for Takeoff: Launching Your Smart Contract 171Beginning with a simple template 173Compiling before takeoff 175Deploying 176Chapter 10: Discovering Token Standards 185Introducing Ethereum Development Standards 185Ensuring interoperability and composability 186Learning the ABCs of EIPs and ERCs 186Understanding Standard Token Interfaces 189ERC-20 token standard 190ERC-721 non-fungible token standard 192Other token standards on Ethereum 194Chapter 11: Building An ERC-721 Token 197Writing and Compiling Your NFT 197The code 198The play-by-play 201Deploying Your NFT 205Deploying on Ganache 205Deploying on Ropsten 208Deploying on Mainnet 217Nurturing Your NFT 219Following your NFT on the blockchain 220Interacting with your NFT 222Part 4: The Part Of Tens 225Chapter 12: Ten Marketplaces For Your Nfts 227The OpenSea Marketplace 228The Axie Infinity Marketplace 229The CryptoPunks Marketplace 230The NBA Top Shot Marketplace 231The Rarible Marketplace 232SuperRare Marketplace 233The Alcor NFT Marketplace 234The Binance NFT Marketplace 235The Foundation NFT Marketplace 236The Crypto.com NFT Platform 237Chapter 13: The Ten Most Expensive Nfts 239Everydays: The First 5000 Days 240CryptoPunk #7523 241CryptoPunk #3100 242CryptoPunk #7804 243Crossroad 244Ocean Front 245CryptoPunk #5217 246World Wide Web Source Code 247Stay Free 248CryptoPunk #7252 249Index 251