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NFTs and Tokens Sent to a Smart Contract Address

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  • Updated .

Description

This article explains what happens to NFTs and tokens/cryptocurrencies sent to a Smart Contract address.

Assumptions Made

This article assumes the reader understands the information in the following articles:

Blockchain Basics

Summary

A smart contract is a set of code that performs a specific set of functions on a blockchain. This code is not able to be changed after it is added to the blockchain.

These contracts have addresses users can send their tokens to and it looks like regular wallet addresses on the blockchain, but its creator is unable to control it. These contracts do not have the ability to manually transfer sent tokens back to the user. 

When a user sends assets to a contract address, these funds are unable to be recovered. Please be sure to double check an address before sending or withdrawing funds to it.