If an NFT marketplace shuts down, self-custody holders usually keep everything, because the token stays on the blockchain. Custodial balances and centrally hosted artwork are where real losses happen.
Every time you list or mint an NFT you grant a contract standing permission to move it, and that permission never expires on its own. Here is how to review and revoke wallet approvals.
You own a token and an ownership record. The copyright, and often the image file itself, is a separate question answered by the project’s license.
On April 30, 2022, Yuga Labs’ Otherside land sale triggered one of the worst gas spikes in Ethereum history, burning nearly $180-200 million in fees.
On March 11, 2021, Christie’s sold Beeple’s Everydays: The First 5,000 Days for $69.3 million, the first purely digital NFT-backed artwork sold by a major auction house.
CryptoPunks launched free in June 2017 as an experiment by two-person studio Larva Labs. It became one of the collections that proved NFTs could hold real value.
Quick answer: a centralized marketplace like OpenSea controls listings and can remove items. A decentralized one runs through smart contracts with minimal central control.
Quick answer: connect your wallet, choose the NFT, set a price, approve the listing, and pay the gas fee. The listing goes live within a minute or two.
Quick answer: buying or selling an NFT usually involves three separate costs: a gas fee, a platform fee, and sometimes a creator royalty, each going to a different place.
Quick answer: probably not, if you are an individual collector. Multi-sig is built for shared funds like a DAO treasury; a hardware wallet solves most of the same risk more simply.
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