# Glossary

**APR:** Annual Percentage Return.

**Collection:** A set of NFTs within the same contract.

**Collection Offer:** An offer which gets submitted on all items within a collection.

**Contract:** An U2U smart contract

**Floor Price:** The lowest amount of money required to spend to obtain an NFT using the *Buy Now* function.

**Gas:** The cost required to perform a transaction, priced in U2U.

**Launchpad:** Igniting the Future of Digital Collectibles.

**Royalties:** Fees which are paid to collection owners upon each trade done on X721 Marketplace.