# objkt glossary

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Not sure what all the jargon means? Now you do. We'll keep this list updated over time, and will also sprinkle them as annotations across our documentation to keep you up to speed.
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### The complete list&#x20;

#### **A**

— **Address:** A unique identifier for your wallet on the Tezos blockchain. Think of it like your digital home address. To check your wallet address, click your profile at the top-left, and it will be shown there. \
— **Auction:** A timed sale where collectors place bids to buy a token. When the auction ends, the highest bid wins (unless it’s a Dutch auction).

#### B

**— Baker:** A participant on the Tezos network that helps verify transactions and keep the blockchain running. When you delegate your tez to a baker such as [objkt baker](https://baker.objkt.com/) (the official baker run by objkt), you help secure the network and earn rewards in return.\
\&#xNAN;**— Bid:** An offer to purchase a token in an auction. In an English auction, the highest bid at the end wins; in a Dutch auction, the first bidder to accept the current price wins.\
\&#xNAN;**— Blockchain:** A public digital record that keeps track of all activity on the network, like minting, buying, and selling, in a transparent and permanent way. objkt operates on the Tezos blockchain.\
\&#xNAN;**— Bookmark:** Save a token you like so you can easily find it later (via the Bookmarks tab on your profile page).\
\&#xNAN;**— Burn:** Permanently delete a token from the blockchain. Once burned, it’s gone forever.

#### **C**

— **Collection:** Think of it as a folder of artworks. Every token has to belong to a collection. Creating a new collection will deploy your own smart contract on the Tezos blockchain. Create one [here](https://objkt.com/create/collection).\
— **Collector:** Someone who buys or owns artworks on objkt. \
— **Curation:** A themed group of tokens on objkt. Anyone with an objkt profile can create a curation. Curations can also be collaborative; you can invite others to join and curate with you. And unlike collection, artworks don't have to belong to curation. Create one [here](https://objkt.com/create/curation). \
— **Curation invite:** An invitation to join and contribute to a curation. \
— **Creator:** An artist who mints their art on objkt as NFTs.&#x20;

#### **D**

— **Delegate / Delegation:** When you assign your tez to a baker, allowing them to help secure the network on your behalf and share part of the rewards with you. Check out [objkt baker](https://baker.objkt.com/) for more info.\
— **Dutch auction:** An auction that starts at a high price and gradually drops over time until someone buys the token or the timer runs out.

#### **E**

— **Edition:** A copy of a token. Some are one-of-one; others have multiple editions available.\
— **English auction:** The most common type of auction. Bidders start low and increase their bids over time. The highest bid at the end wins the token.

#### **F**

— **FA2:** The Tezos token standard that defines how NFTs and fungible tokens behave.\
— **Feed:** Your personalized stream of updates from people you follow. If you are not following anyone, we show some artworks from artists we like. Check your feed out [here](https://objkt.com/feed).\
— **Floor price:** The lowest listed price in a collection. \
— **Follow:** Subscribe to another user on objkt to see their activity in your feed.

#### **G**

— **Gas fee:** A small tez fee paid to bakers when performing actions like minting or listing.\
— **Generative art:** Art created with code or algorithms. Each mint generates a unique output.

#### **I**

— **IPFS (InterPlanetary File System):** A decentralized way to store and share files online. It helps keep your NFTs and their media files safe and accessible, even if a website goes offline.

#### K

**— Kukai:** A Tezos wallet that lets you store tez and NFTs, connect to objkt, and sign transactions securely in your browser. It’s beginner-friendly and doesn’t require any downloads. To create a Kukai wallet, simply go on objkt, click Log in, and sign up via your social login. Simple!&#x20;

#### **L**

— **Listing:** Putting a token up for sale on objkt at a set price.

#### **M**

— **Marketplace:** Well, in our case, our platform, where people can create or collect art as NFTs. \
— **Metadata:** The data attached to a token, including title, description, and media file.\
— **Metadata URI:** The web address that points to a token’s metadata file, usually stored on IPFS.\
— **Mint / Minting:** The process of creating an NFT by turning your digital artwork into a token on the blockchain. Check out [minting-a-token](https://docs.objkt.com/product/product-guides/minting-a-token "mention") for more info.&#x20;

#### **N**

— **NFT (Non-Fungible Token):** A unique digital asset that proves ownership of an artwork or collectible. Check out [what-is-an-nft](https://docs.objkt.com/product/fundamentals/getting-started/what-is-an-nft "mention") for more info.

#### **O**

— **objkt:** The largest digital art marketplace on the Tezos blockchain (us!). \
— **objkt art pack:** A limited-time booster pack containing exclusive digital artworks from a roster of curated artists. [Season 1](https://objkt.com/art-packs) wrapped on July 31; season 2 coming soon.\
— **objkt baker:** Our own staking service where you can delegate and stake tez to earn rewards.\
— **objkt one:** The offical curated segment of objkt, our [objkt one gallery](https://objkt.com/galleries/objkt/gallery) showcases exceptional art from all over the world. \
— **Offer:** A collector can make an offer on a token for the seller to review. Usually it's either for when a token is not listed for sale, or if a collector wants to make an offer that's lower than the selling price. Check out [offers](https://docs.objkt.com/product/product-guides/token-buy-sell/offers "mention") for more info.\
— **Open edition:** A time-limited mint where anyone can mint an edition before it closes. For example, you can create an open edition with 100 editions of an artwork available for collectors to mint within 5 days. The final number of editions will depend on how many mints take place during that 5-day window. Check out [open-edition](https://docs.objkt.com/product/product-guides/token-buy-sell/open-edition "mention") for more info.

#### **P**

— **Primary sale:** The first sale of a token directly from the creator. For example, if a token has 10 editions, there can be up to 10 primary sales. Once they’re all sold, any future purchases come from collectors and are considered secondary sales.

#### **R**

— **Royalty / Royalties:** A percentage of each secondary sale that's automatically paid to the original creator. You set this rate when you mint a token.&#x20;

#### **S**

— **Secondary sale:** A sale of a token between collectors, rather than directly from the original creator.\
— **Smart contract:** Code that runs on the blockchain to automate actions like paying royalties or closing auctions.<br>

#### T

**— Temple:** A Tezos wallet available as a browser extension or mobile app. It’s great for users who want more control and features, like managing multiple accounts or interacting with different Tezos apps.\
\&#xNAN;**— Tez (XTZ):** The native cryptocurrency of the Tezos blockchain.\
\&#xNAN;**— Tezos:** A sustainable, proof-of-stake blockchain that objkt operates on. Check [what-is-tezos](https://docs.objkt.com/product/fundamentals/getting-started/what-is-tezos "mention") for more info.\
\&#xNAN;**— Token:** The NFT itself, the blockchain record proving ownership of a digital artwork.\
\&#xNAN;**— Token contract:** The smart contract that defines how tokens in a collection behave.\
\&#xNAN;**— Token ID:** A unique number assigned to each token on the blockchain.

#### **W**

— **Wallet:** A digital tool used to store tez and NFTs and connect to objkt. When you sign up for objkt, you get a free Kukai wallet.\
— **Wallet address / Wallet ID:** A long string (usually starting with “tz”) that identifies your wallet on Tezos. You can check your wallet address under your profile dropdown.
