Binance NFTeaching - Test your knowledge about NFTs Quiz Answers

Section 1: Starter

1. What does NFT mean? — Non-Fungible Token

2. Who is the CEO of Binance? — CZ (Changpeng Zhao)

3. What is Binance NFT’s official Instagram? — @BinanceNFTs
4. Does Binance NFT have a community on Telegram? — Yes and admins will never contact you with an unsolicited private messages!
5. You should NEVER give out your wallet seed phrase because? — It gives thieves opportunities to infiltrate my assets
6. Which definition of Fungibility is correct? — Fungibility means that an asset’s individual units are interchangeable and essentially indistinguishable from each other.
7. Where can I store my NFT collectibles? — On Trustwallet, On Metamask
8. What application can NFT’s be used for? — All of the Above
9. Which is an NFT Marketplace? — Bakeryswap, Treasureland (DEGO)
10. What does Dapp mean? — An application that is decentralised
11. Which artists NFT was sold for $69 Million dollars? — Beeple
12. When will Binance NFT launch? — End of June 2021
13. What is DeFi ? — Decentralised Finance
14. What was the first official NFT Tuesday video? — NFTs Explained: Everything You Need To Know — Guide to mint NFT
15. Who are the regular hosts of NFT Tuesday — David
16. Name the guests who have appeared on NFT Tuesday? — Brian — Sorare, Jawad — Terravirtua
17. What are the 3 types of NFT presented by David in NFTs Explained: Everything You Need To Know — Guide to mint NFT? — Art NFT, Defi NFT, Gaming and Collectibles NFT
18. In the video «Everything You Need To Know — Guide to mint NFT» What NFT was minted by David on BakerySwap? — CZ Rambo
19. In the NFTs for Artists: The Beginner’s Guide webinar who were NFT collectors? — Nicole
20. Who are the Binance Angels? — Members of the Binance community who support you
21. In the Buying NFTs: Bullish or Bearish? NFT investments what’s the real name of the guest of the Fireside chat who is also one of the buyer of the most expensive NFT (Beeple)? — Vignesh Sundaresan
22. In Opportunity of a Lifetime: NFTs for Developers Teck is interviewing the CTO of Enjin, Witek Radomski. What NFT standard Witek created? — ERC-1155.

Binance NFTeaching Quiz Answers - Test your knowledge about NFTs

Section 2 — Main course

1. What is Cryptopunks? — CryptoPunks are collectible pieces of crypto art.
2. How do you verify the authenticity of an NFT? Check the valid sentences — 1. Most of the work will involve looking at your NFT on a blockchain explorer such as BscScan. 2. Helpful information could include the minting date and the wallet address that minted the NFT.
3. In the article 5 NFT Projects You Should Know. Check the false sentence. — Decentraland is a blockchain-based card collection game.
4. What tokens can you use to buy NFT? — BAKE, BNB, ETH
5. What does BSC mean? — Binance Smart Chain
6. Should I mint a design that I don’t own or have the rights to? — No
7. What was the first guide we posted to our Instagram page @binancenfts? — «What is an NFT?»
8. What popular Memes have become NFTs? — NyanCat, Charlie Bit Me, Overly Attached Girlfriend, Disaster Girl
9. What’s the token powering Bakeryswap ? — BAKE
10. What does FOMO mean ? — Fear Of Missing Out
11. Which blockchain has lower gas fees? — Binance Smart Chain
12. In crypto, what does Gas mean? — Computation Fee
13. Which of these is NOT an NFT Token or project? — DOGE
14. In the video NFT’s with gaming who was the guest using a VR avatar — Artur
15. What does DAO mean? — Decentralized Autonomous Organization
16. What can NFTs be used for? — 1. NFTs can be used by decentralized applications (DApps) to issue unique digital items and crypto-collectibles. 2. NFTs can be used for the tokenization of real-world assets. These NFTs can represent fractions of real-world assets that can be stored and traded as tokens on a blockchain. 3. The use of NFTs could potentially solve or mitigate the common problem of inflation that many games have.
17. What are some benefits of Digital art using NFT? — Authenticity, Truly limited editions, Ownership
18. Name a series of official Binance NFTs that were released — Bibi Series
19. uses 2FA, what is that? — 2 Factor Authentification
20. Is it possible to stake NFTs to earn token rewards? — Yes
21. Can NFT be for tracking meta data? — Yes

Final Section — Dessert

1. What was said to be the first NFT project? — Colored Coins
2. In terms of NFT why is it important to own the IP — To avoid any legal issues
3. Which statement about cold storage is wrong? — Private keys are permanently connected to the internet
4. BSC (Binance Smart Chain) compatible with Binance NFT Marketplace — True
5. What’s SAFU and its origins? — Funds are safe, the Secure Asset Fund for Users (SAFU) is an emergency insurance fund
6. What are the projected fees to pay when your NFT sells on a marketplace? — Gas fee from interacting with the smart contract associated with the sale.
7. Who is a Binance Angel in our Official Binance NFT Telegram? — Thor
8. How do NFTs transform traditional industries and digital economy? *You may select more than 1 answer. — 1. NFTs remove the middlemen and gatekeepers 2. NFTs provide opportunities for brands and IPs to commercialise their content 3. NFTs serve as an avenue to connect brands and IPs to their fans
9. Do existing users of Binance have to create a new account to access the NFT marketplace? — No
10. Who is the inventor of smart contracts? — Nick Szabo
11. What is the safest way to verify the authencity of an NFT? — Use the transaction history ID to see if your NFT matches up
12. What are examples of NFT games? — Axie Infinity, Battle Pets and CryptoKitties
13. What are 3 NFT projects on Binance Smart Chain? — Bakery Swap, Pancake Swap, Battle Pets
14. What are the things you need before minting your NFTs? — All of the above
15. What is the Binance NFT Innovative Creators Program about? — A program where selected creators get to mint their artwork into NFTs and be featured on Binance NFT Marketplace in the first month of its launching.
16. What NFT collection did digital artist Pak create? — the cheap, the expensive, the unsold
17. Who sold their first tweet? — Jack Dorsey
18. How does an owner send an ERC-721 NFT to someone else? — Directly from the wallet to the recipient’s ERC-721 NFT address
19. Name the artists we have joining Binance NFT Marketplace? — Michael Owen. Lewis Capaldi
20. What are the benefits of collecting NFT? — All of the above
21. How much in USD has the CryptoPunk 3100 been sold for? — 7,5M
22. About ERC-1155 check the correct sentences — 1. The standard allows for creating contracts that support both fungible and non-fungible tokens 2. It was created by Enjin. 3. This standard allows developers to define both fungible and non-fungible tokens and decide how many of these tokens should exist.
23. Check all the BSC NFT projects — all.

Additional Info.

๐ŸšจHere are the rules for this assessment:
- You can only submit your assessment once
- The deadline to answer this questionnaire is Tuesday, June 15th at 23:59 (UTC)
- You can take as much time as you want to answer it
- Results will be announced in July
- Double check the informations you are giving us (no CS support will be provided regarding this exam)
- The NFTs will be different depending on your grade. We recommend you to get the best grade possible.

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