Key definitions

NFTs (Non-Fungible Tokens) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Each NFT is unique and exists in a single copy, it cannot be separated. All information about its author, buyer, and all transactions with it is securely stored in a blockchain. In other words, an NFT is a digital certificate attached to a unique object.

P2E (Play-to-Earn) is a new sector of the gaming industry that allows users to earn cryptocurrency by fighting or competing by avatars against each other. Such games allow users to earn money and build businesses through the development of virtual characters and digital real estate. In essence, P2E is a mix of games, metaverses, and DeFi.

Smart contract is a computer protocol that allows transactions and controls their execution using mathematical algorithms. Smart contracts are stored on a blockchain platform. When entering into a smart contract, the parties spell out the terms of the deal, and penalties for non-compliance, and digitally sign their signatures. The smart contract determines whether the conditions are met and decides whether to close the deal, penalize the parties, or shut down access to the assets altogether.

DAO (Decentralized Autonomous Organization) is an autonomous system in blockchain, which is controlled by software code and does not depend on human factors. DAO has no central node, which manages the entire system without coordination with other participants.