A diagram of how different terms relate to each other.
This article covers key terms in the web3 space and how Highlight uses them.
A unique, non-fungible token that exists on the blockchain. An NFT is created by a contract and belongs to a collection. On Highlight, creators can deploy or create an NFT while collectors mint them.
Synonyms: Token, item
noun A sale mechanism in which collectors purchase NFTs (or obtain them for free) for a set price.
verb The act of a collector obtaining an NFT for a set price through the primary sale mechanism. Note that collectors mint NFTs while artists create or deploy them.
A program or a transaction protocol intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. A contract is responsible for, among other things, creating collections of tokens.
Creating a token on Highlight means deploying a contract. Collectors then mint the token.
An umbrella term for a designated set of NFTs that are created at the same time. A collection may contain any number of unique or non-unique NFTs.
When creating a token on Highlight, this launches the creation of a collections contract.
A type of collection in which all NFTs are identical, except for their name and token ID.
A type of edition that allows the minting of an infinite number of identical NFTs. An open edition may be open for minting for any amount of time. Therefore, once the mint closes, there will be a finite number of NFTs from this edition minted. It is up to the artist to communicate whether they may open this edition again.
Highlight allows for the creation of Open Editions during token creation. Under "Edition Size", simply select "Unlimited".
A type of edition that only allows the minting of a finite number of identical NFTs. Once all of the NFTs in the edition are minted, it is implied that no more will be produced.
To deploy a limited edition collection on Highlight, select "Fixed" under "Edition Size" during token creation.
Support for creating collections like this is coming soon on Highlight.
One of one
A type of collection that contains exactly one NFT or that NFT itself. Currently, one-of-one NFTs are the only NFTs that can use the auction distribution mechanic on Highlight. Synonyms: One-off
Last modified 1mo ago