Non Fungible Token MCQs: NFT Questions And Answers

Non Fungible Token (NFT). This section provides you the Basic and Advanced level Questions about Non-Fungible Token (NFT) to understand NFT better.

Non Fungible Token

 

Who created NFT ??

a) Anil Dash
b) Kevin McCoy
c) Only (a)
d) Both (a) and (b)

 

How much does it cost to mint an NFT ??

a) Some wallets charge between $70 and $120
b) Many NFT wallets allow you to mint completely free
c) Both (a) and (b)
d) None of the above

 

Why do people buy NFTs ??

a) NFTs have generated billions of dollars
b) They gain the rights to the unique token on the blockchain
c) Due to urging price of Bitcoin and distrust in the US dollar
d) All of the above

 

Why are NFTs bad for the environment ??

a) They add a huge amount of Carbon to the environment
b) They consume a huge amount of electricity
c) The carbon emission is increasing day by day
d) All of the above

 

Can I create my own NFT ??

a) No
b) Yes, Using ETH Wallet and NFT exchange

 

How does NFT work ??

a) Using Blockchain (a distributed public ledger)
b) Using Dark web
c) Using Non-digital objects
d) None of these

 

What does NFT stand for ??

a) Not for Trade
b) Night Flying Test
c) Non-Fungible Token
d) No Further Text

 

What is NFT marketplace ??

a) marketplace where you can discover exclusive digital collectibles and their non-fungible tokens
b) an online Crypto store
c) Both of the above
d) None of the above

 

What does an NFT look like ??

a) same as Etherum
b) same as Bitcoin
c) anything digital like art, music, painting, e.t.c
d) None of these

 

Can you sell photography as NFT ??

a) Yes, you can sell anything digital (photography, art, or music as NFT)
b) NO, you cannot sell photography as NFT

 

What does NFT mean in art ??

a) piece of art that cannot be traded or sold
b) NFTs are tokens created by artists and used to represent digital works of art
c) a centralized cryptocurrency based on Ethereum blockchain
d) None of the above

 

What can you do with an NFT ??

a) All of ownership records and tokens can be transferred freely
b) With Non Fungible Tokens one can own a piece of crypto history
c) You can represent unique digital items
d) All of the above

 

What are NFT coins ??

a) They don’t gain any value
b) They don’t lose their value and tokens have intrinsic values
c) They are same as Bitcoin
d) None of these

More Posts

Leave a Comment

error: Content is protected !!