About NFTs
NFT definition
NFT stands for non-fungible token. “Non-fungible” means that it is completely unique; “token” means that it can be transferred on a blockchain. Essentially, NFTs are assets that carry a unique digital identity and can be traded between users on a public blockchain like Tezos or Ethereum. Because NFT ownership can be instantly and easily verified on the blockchain, NFTs contain proof of ownership.

NFT artwork is one common use case of NFTs. NFT art comes in various forms, such as static and dynamic images, music, videos, and more. Additional information related to each NFT can be stored in the NFT’s metadata, giving each asset a unique history.

Unlike purchasing a JPG image online, NFTs have unique identities and a trackable history, allowing them to be scarce and carry provenance.

As an example, consider one of the most famous art pieces, the Mona Lisa. At any point, it’s possible to commission an artist to recreate the Mona Lisa. You can even take a picture of the Mona Lisa or order a print to hang up on a wall. As the original, the real Mona Lisa will always be more valued and sought after than any recreations or printouts—this is due to provenance and originality. NFTs provide a similar uniqueness for digital images that were once only reserved for physical art.
NFT attributes
NFT smart contacts contain attributes describing the NFT such as date or artist.
Mint time
An NFT’s mint time is when it was created on the blockchain.
NFTs consist of artwork and metadata, or additional details about the NFT. Metadata can include the NFT title, description and a link to where the image is stored.
Smart contract
A smart contract is code that runs when it receives a transaction on the blockchain — for example, a call to mint an NFT. Smart contracts are stored on the blockchain and have unique addresses. To see any smart contract’s history, you can query a block explorer with the contract address on the relevant blockchain.
Token ID
A token ID is a number given for each NFT minted on the blockchain using a specified contract.
IPFS link
IPFS, or the InterPlanetary Files System, is a distributed peer-to-peer file system for storing and sharing data. When an NFT is being created, NFT artwork is often uploaded to IPFS, where it can be viewed via an IPFS link. The IPFS link is then referenced in the NFT data on the blockchain.

Unlike in a centralized database, IPFS links aren’t permanent, and artwork will only be pinned at that link for a set amount of time (for example, two years). If you own an NFT, it’s best to download the artwork so that even if it becomes unpinned in IPFS, you still have access to the file. If you re-upload to IPFS, it will generate the same link.
Royalties are the amount of money a creator gets from an artwork sale. They are defined in the NFT and cannot be changed.
Where to view your NFT
You can always view your NFT in your wallet. How you access your wallet depends on your wallet of choice. Your NFT can also be viewed on other platforms that have indexed the NFT smart contract — for example, OBJKT or fx(hash) if the artwork is on Tezos, Looksrare, Zora or many others if the artwork is on Ethereum or an Ethereum-compatible chain.
What you can do with your NFT
Once an NFT is created on the blockchain, anyone can view it, see which wallet owns it, and download the artwork file. NFT owners can also view the NFT in their wallet, transfer it (for example, to another preferred wallet), and sell it.
Royalties and platform fees
When NFTs are sold, creator royalties are taken out of the sale price and the platform that hosts the sale may charge a platform fee. Platform fees on OBJKT, for example, are 2.5%.

As a cultural institution and museum, HEK prioritizes showcasing artists and their creations. Accordingly, we have structured the revenue distribution for the HEK editions in the following manner:
  • In the primary market, 60% of the proceeds are allocated to the artist, with the remaining 40% going to HEK.
  • In the secondary market, artists receive 100% of the revenue.
This approach ensures that HEK retains only a modest yet financially sustainable share. This strategy allows us to reinvest all profits into enhancing the Friends of HEK program and developing future HEK editions, fostering our commitment to supporting the arts and our community.
Environmental impact of NFTs on Tezos
As with any computing transaction, minting NFTs has a carbon footprint. Some blockchains, such as Tezos and Ethereum, use a consensus mechanism called ‘proof-of-stake’ which has a lower carbon footprint than other types of blockchains.
About wallets
Wallet definition and basics
A wallet is a program that allows you to interact with a blockchain. The wallet stores cryptographically-generated public and private keys, which are used to sign blockchain transactions — for instance buying an NFT. Each wallet has an address, a destination to which assets can be sent.

It’s important to note that when you hold assets on the blockchain, they’re stored on the blockchain itself, not your wallet. Your wallet is only used to interact with assets you own. For example, if you want to buy an NFT, you confirm the transaction with your wallet. Later, if you want to sell it, you’ll use the wallet to confirm that action as well.
Setting up a Tezos-compatible wallet
You will need a wallet that is compatible with the blockchain where the artwork has been minted.

For Tezos-based projects, there are many wallet options, including Temple, Umami, Airgap, Autonomy, Kukai. Kukai’s social sign-in web wallet is the simplest option for beginners, as you don’t need to manage seed phrases and keys. To create a wallet, visit Kukai, select your preferred social account (you can choose from Google, Facebook, Twitter, or Reddit), then follow the prompts in the pop-ups to connect your account.

Autonomy’s mobile app wallet is also great for beginners, with clearly guided wallet creation, an easy-to-find place to store your NFTs, and beautiful NFT display. To get started, download the app and follow the prompts to create a wallet. Visit the website from which you’d like to get an NFT, then follow the prompts to connect your account.

MetaMask is another popular option for Ethereum-based projects.