Here is a list of terms you need to know to get started:
- NFT - A non-fungible token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.
- TFuel - Theta Fuel, or TFuel, is the transactional or utility cryptocurrency token that powers the Theta Network, and used to buy, sell and trade ThetaDrop NFTs with added benefits. TFUEL is purchase-able at these crypto exchanges: https://coinmarketcap.com/currencies/theta-fuel/markets/
- Gas Fees - Gas refers to the fee required to successfully complete a transaction on a blockchain.
- Wallet Address - A digital wallet address is an unique identifier for a specific wallet account holder. For example, each Theta wallet identified by its address can hold specific, unique and provably owned NFTs.
- Drop - A collection of packs and optionally an auction offered by the original content creator or artist. Drops start at a specific date/time and run for a limited period of time.
- Auction - Special format where limited edition items are auctioned and you can bid on them. In a 1 of 1 auction, the top bidder wins the NFT and in a N-of-N format, the top N bidders win NFTs with the highest bidder winning serial #1 of the series. Auctions can be blind or open, where the former only reveals the top winning bid at the end of auction while the latter shows the highest current bid.
- Packs - A pack contains one or more moments or NFTs. The actual NFTs you get inside a pack are randomized but you will know exactly how many of each rarity you will receive for your purchase.
- Moments - Each ThetaDrop moment is an unique NFT with description, rarity, units available and other details including the video, audio or other data.
- Rarity - Packs and moments have specific rarity which describe how valuable they are. For example, Legendary rarity is more limited and therefore more valuable than Common rarity.