The NFT Handbook


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Table of Contents

About the Authors vii

About the Technical Editor ix

Acknowledgments x

Foreword xvii

Chapter 1 Introduction to NFTs 1 Chapter 2 What Are NFTs? 7

Why People Collect 7

What Exactly Are NFTs? 10

Types of NFTs 16

Aspects of NFTs 32

Extrinsic Elements of NFTs 44

Chapter 3 Why NFTs Have Value 49

Why Do Collectibles Have Value? 50

The Problems with Traditional Art 53

The Problems with Collectibles and Memorabilia 57

Digital Art Before NFTs 60

The True Advantage of NFTs 61

NFTs Aren't Perfect 74

External Forces That Drive Value 89

Chapter 4 History of NFTs 93

Andy Warhol Presents Pop Art 94

Beeple's Cyberpunk World Meets NFTs 99

The Story of Digital Art 104

Chapter 5 NFT Marketplaces 115

OpenSea 116

Rarible 117

Nifty Gateway 118

SuperRare 118

Wax (Atomic Hub) 119

Foundation 120

NBA Top Shot 121

VeVe 122

Known Origin 122

Myth Market 123

Wrap-Up 124

Chapter 6 Creating and Minting NFTs 125

Creating the Aspects of Your NFT 126

Creating a Cryptocurrency Wallet 134

Creating an OpenSea Account 144

Creating a Collection 147

Minting an NFT 157

Chapter 7 Selling NFTs 161

Your Exchange Account 161

Buying Cryptocurrency 167

Funding Your MetaMask Wallet 170

Selling Your NFTs 172

Marketing Your NFTs 181

Chapter 8 Buying NFTs 195

Why Buy NFTs? 195

Buying NFTs 199

Building an NFT Collection 206

Chapter 9 Legal Aspects of NFTs 213

Are NFTs Securities? 214

Intellectual Property Rights 218

Right of Publicity 225

Right of Privacy 231

Contracts 232

Taxes 235

Chapter 10 The Future of NFTs 239

The Metaverse 240

Non-bankable Assets 246

Digital Wallets 251

The Unwritten Future of NFTs 254

Index 255

About the Author

MATT FORTNOW is an entertainment lawyer turned tech entrepreneur. He co-authored the 7th edition of This Business of Music then co-founded the web's first fantasy sports service, which he sold to CBS Sports. The past several years Matt dove into blockchain technology, cryptocurrencies, and non-fungible tokens. QUHARRISON TERRY is a growth marketer and entrepreneur. Co-Founder of 23VIVI, the world's first digital art marketplace powered by the Bitcoin blockchain, he is a 4x recipient of LinkedIn's Top Voices in Technology Award. He currently leads Growth Marketing at Mark Cuban Companies.

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