NFT Scams – Most Common Scams in the NFT Space

As the popularity of NFTs (non-fungible tokens) continues to grow, so does the potential for scams.  This article examines popular NFT scams and offers suggestions for avoiding them. We'll also discuss the future of NFT scam prevention and how to report one. A Closer Look Into NFTs and Their Popularity The past year has seen a surge in the popularity of non-fungible tokens. These digital assets are unique, and nobody can replicate them, making them ideal for collectors and investors.…

Sleep Minting – A Guide to a Potential Threat for the NFT Market

Sleep minting happens when a scammer mints an NFT to a renowned creator's wallet with authorization to retrieve it. This gives the impression that creators legitimately minted an NFT to themself before sending it to a criminal. This guide will teach you how to protect yourself from sleep minting scams. Moreover, we will mention what steps you can take to prevent the phenomenon from happening. What is Sleep Minting? Scammers utilize "sleep minting” to mint an NFT and deposit it…

NFT Floor Price – A Beginner’s Guide

When you think about it, the concept of a floor price is relatively simple. It’s the price below which no one can sell an asset. In traditional finance, a centralized exchange is responsible for setting a floor price.  For example, if a stock falls below a threshold, the exchange may halt trading to prevent prices from dropping further. The same principle applies to digital assets and securities. The floor price for an NFT depends on supply and demand, historical prices,…

How Do NFT Transaction Fees Work?

When sending or receiving NFTs, you'll need to pay a fee to the blockchain to process the transaction. This fee helps to cover the costs of processing and validating the transaction. The fee varies depending on the blockchain, but it's generally small. If you're new to NFTs, then it's important to understand how transaction fees work before sending or receiving any tokens. By understanding the fees involved, you can avoid unexpected costs and make sure blockchains process your transactions smoothly.…

Buying and Selling NFTs – The Most Important Criteria to Consider

Non-Fungible Tokens (NFTs) are digital assets that are not interchangeable. They each have unique characteristics, making them unlike any other token on the market. For this reason, they hold a lot of potential for various industries and use cases.  In this guide, we will take a look at the most common criteria for trading NFTs. What Are NFTs? NFTs are unique digital assets and cannot be interchangeable. This feature makes them perfect for various applications, including gaming, collectibles, and online…

How to Protect Yourself from NFT Scams

As the popularity of cryptocurrencies and blockchain technology continues to grow, so does the potential for scams and fraud. In this article, we’ll go over some common threats to your safety when investing in or using non-fungible tokens (NFTs).  The guide will provide some tips on how you can protect yourself from these dangers.  The NFT Opportunity and Its Appeal to Scammers Blockchain, a decentralized ledger tracking all transactions involving an item, is where NFTs reside. NFTs can represent anything…

NFT Rug Pulls – What Are They and How to Avoid Them?

A rug-and-pull is a typical fraudulent method of luring investors to a financial enterprise only to abandon the project and run away with the raised funds. This scam has become increasingly popular in crypto. And with the emergence of non-fungible tokens (NFTs), the risk of NFT rug pulls has become real. This article looks at what rug pulls work with NFTs and how to avoid them. What Are NFT Rug Pulls? An NFT rug pull happens when the developers of…

5 BAYC-Like NFT Projects to Watch Out for in 2022

Bored Ape Yacht Club (BAYC) NFTs hit the market in April 2021 and instantly gained massive popularity. Moreover, it lit up the PFP NFT market, which is now emerging as one of the most exciting and profitable digital asset sectors of investment. In this article, we look at the 5 BAYC-like NFT projects that hope of mimicking the same success. But first, we dive deeper into the world of PFP non-fungible tokens to discover what makes them so popular and…

Can Hackers Steal Your NFTs? Understanding How Criminals Operate

In a world where NFTs are becoming more and more valuable, NFT theft is a real threat. Criminals and technology are evolving, and users need to move with care in this growing market. Our guide will provide more details on this dangerous trend and share guidelines on reducing the risk of NFT theft. Stealing NFTs – Myth or Reality? When it comes to staling NFTs, exploiting human mistakes is the most typical strategy for a hacker. Without the hacker's access…

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