Our website contains links to partner sites. If you click from our site to the partner's site and purchase their services there, we will receive a commission for mediation (Find out more information). This form of cooperation does not affect the objectivity of our reviews. With each purchase made through links from our site, you support our editorial office so that we can create quality and useful content in the future. Thank you.
Today, NFT is always in the news, such that we are becoming addicted to it. Notwithstanding how popular it is becoming, many people haven’t had a complete understanding of what NFT is all about.
When I started researching NFTs, it wasn’t easy, but I was able to get to the basis of what it entails. In this article, I will share my research on where I can buy NFTs. Remember, these are only a few platforms to get the NFT adventure started.
Non-Fungible Tokens (NFTs) are a kind of digital goods that can represent anything. For instance, a Mona Lisa painting can be an NFT. NFTs are unique, tradable, and stored on the blockchain.
Nowadays, I can sell a single NFT for thousands of dollars. People like Logan Paul and Grimes have made millions by selling NFTs in the cryptocurrency market. Today, names such as Bored Ape Yacht Club, Beeple, and CryptoPunks are synonymous with the most expensive NFTs we have seen in history.
Since the advent of NFTs, everything has changed regarding how people interact with digital items. Previously, creators were held hostages by platforms such as Facebook and YouTube. However, these have changed as I can enlist my art on a platform that allows different people to buy them. Nevertheless, before I decide to enter the NFT bandwagon, I need to know where to buy NFT.
How to purchase NFTs
To buy any NFT, I need cryptocurrency, which will require a cryptocurrency wallet. There are several platforms that allow creating free wallets without paying any dime. For instance, I can start with exchanges such as OKEx and Binance. After completing, I can store my cryptocurrency in the wallet.
Remember, I can’t purchase NFT using all cryptocurrencies because NFTs are built on the Ethereum network or blockchain. After creating the wallet, the next step is to sign up on an NFT marketplace. Once I sign up, I need to connect my wallet to the marketplace. From the marketplace, I can mint and list the NFTs for sale. There is always a fixed price when I list an NFT.
Where to buy NFTs
With the increasing awareness of NFTs, it is a normal to see more NFT marketplace increasing. Despite this, each platform offers a unique service such that artists can decide the best place for their artwork. In this section, I will share the best places where I can buy NFTs, especially if I am new to the industry.
Undoubtedly, the first and largest NFTs marketplace with millions of investors and artists. The platform allows everyone to buy and sell NFTs effortlessly. It is compatible with Klaytn, Polygon, and Ethereum blockchain. The platform is highly vast such that there are over 40 million NFTs sorted into different categories, ranging from virtual worlds, game items, collectibles, domain names, and digital art.
To open an account with OpenSea, I need to create an Ethereum wallet like Fortmatic, Coinbase wallet, or MetaMask. In addition, I must pay a signup fee to open my account. Most platforms take an upfront for their gas fee. A gas fee represents the cost of authenticating transactions within the blockchain network.
The Axie Infinity marketing is a gaming MetaVerse. It is a unique platform where users can create and breed pets known as Axies. In addition, users can compete with each other in a card game. Every Axie created represents a unique digital asset with different characters that can be sold and bought.
The platform is built using the Ethereum blockchain and necessitates a MetaMask wallet. New users must acquire at least three axis to start playing on the platform. Besides exchanging in-game assets, I can also buy virtual land on the platform through the game. In addition, the platform utilizes a pay-to-play-to earn model, where players can earn and cash out tokens as a reward. Axie charges 4.25% for every transaction from the sellers and buyers.
Another prominent NFT marketplace is Rarible. Like other marketplaces, I need to have an Ethereum Wallet as the platform hosts several categories, including digital art, music, photography, games, MetaVerse, and domains. Furthermore, I will find NFTs at a fixed price, whereas others are auctioned.
The interesting thing about the Rarible marketplace is that anyone can earn royalties. Therefore, I can receive a cut and passive income whenever I sell an NFT. In addition, I can earn a reward when I use the RARI token. Rarible also takes a 5% cut on each sale while splitting the fee between sellers and buyers.
The last NFT marketplace I find good is the SuperRare, which acts as a peer-to-peer art market connecting collectors and artists. Nevertheless, the platform is in its early stages with several upcoming upgrades. Unlike other platforms, I must first submit my profile to SuperRare for review.