Key Terms in the Web3 Space and How Single Uses Them
An NFT (Non-Fungible Token) is a unique digital asset that exists on the blockchain. It is created by a contract and belongs to a collection. Creators can create or deploy an NFT on Single, and customers can purchase or mint them.
Minting is the process of assigning ownership of a digital asset (such as an NFT) on a blockchain. On Single, this happens at the time of sale, when someone buys the NFT. Creators have the ability to "end mint" at any time, which means they can prevent the sale of future NFTs even if the total supply has not sold out.
What Does End Mint Mean?
Once you have created and published an NFT, you will have the option to preemptively cease further minting and sale of it at any time via the "End Mint" button in the top right corner of its info page.
Even if you have not sold through the total available supply initially designated, it will no longer be available for sale once the mint has ended.
🚨 Important: If you select to end the mint early, you will not be able to change or republish it.
A collection is a set of NFTs that are created at the same time. It can contain any number of unique or non-unique NFTs. Single enables creators to create 3 different kinds of collections:
Single-Image NFT Collection
A single-image NFT collection refers to a set of NFTs where each NFT represents a unique individual image. These collections often feature distinct artworks, such as paintings or photographs, with each NFT in the collection representing a different piece of art.
Multi-Image NFT Collection
A multi-image NFT collection is a set of NFTs where each NFT consists of multiple images, such as a series of related photographs or illustrations. The NFTs within the collection can either represent different combinations of images or variations of the same images.
Generative NFT Collection
A generative NFT collection is a set of algorithmically generated NFTs where each NFT represents a unique piece of art or design. These collections are typically created using computer algorithms, resulting in a diverse array of NFTs with varying attributes, styles, or traits.
A type of collection that allows the minting of an infinite number of NFTs. Single allows for the creation of unlimited supply collections during the collection setup.
Sequential ordering refers to the process of assigning unique edition numbers to each NFT in a limited edition collection. For example, if a limited edition collection has 100 NFTs, each NFT will be assigned a unique number between 1 and 100.
Gated content refers to content that is hidden or locked behind a gate or paywall. In the context of NFTs on Single, gated content refers to pages, products, or videos that are accessible only to those who own a specific NFT from a collection.
A feature allows creators to preview gated content to on their Gated Content page.
A feature that restricts the number of times a NFT holder can claim or purchase a gated product.
A feature that controls the rules and restrictions for discounts on gated products, preventing them from being included in shop-wide sales and promotions to avoid double discounts.