How to buy NFTs?
Unlike traditional e-commerce sites where Internet users buy a good and receive it at home, NFT platforms allow them to buy a property right on a unique virtual work or object. This certificate is registered in a blockchain and stored in a dematerialized way. In other words, one should not expect the delivery of an object or a work of art to be displayed at home. Everything is virtual.
Many of these marketplaces operate on the Ethereum network. Thus, the same NFT can be offered for sale on several platforms, a bit like if the works displayed in a single art gallery were visible from several windows.
Sales are made at a fixed price or through auctions that often last several days. Each NFT is presented in the form of a “product sheet,” similar to any catalog. Its title is accompanied by a visual description, main characteristics, and price. The payment is made by means of cryptocurrencies, in particular Ether. Therefore, to buy, the prerequisite is to have a wallet, for example, via MetaMask.
Where To Buy NFTs
Security, authenticity, and rarity. NFTs use these three characteristics to boost the art industry. The big players in the sector are increasingly opting to sell their pieces via a variety of different platforms.
How to Sell NFTs?
In this tutorial, let’s look at the steps involved in selling an NFT on a marketplace. We’ll take the example of OpenSea, the platform that currently centralizes the majority of NFT transactions worldwide.
From your profile, select the NFT you want to sell in your wallet, then click on the “Sell” button in the top right corner of the page. Next, you must decide exactly how you intend to proceed with the sale of your NFT and the price of your NFT. A fixed price sale is one where the price is non-negotiable. Once the price is determined, you choose how long you want to put your NFT up for sale. Generally, you may elect to leave your NFT on the market for any period of time you wish.
Your NFT can be reserved for a single wallet address (only one buyer will be able to purchase it). To activate this option, simply enter the address of the single crypto wallet that will be able to purchase this NFT in the “Reserve for a specific buyer” section. After entering the appropriate selling parameters, you will receive a quote from the platform for the selling fee. OpenSea charges 2.5% of the sale amount as a service fee and up to 10% as a setup fee.
Once you have defined your selling parameters, click on the “Post the Listing” button. At this point in the process, you must complete the transaction to approve your NFT sale. Once the listing is confirmed, a confirmation window will open, and you will have access to a sharing link. If you are not in a hurry to sell your NFT, you might be interested in auctions. Online NFT selling platforms like OpenSea allow you to offer a digital asset for auction. The two types of auctions are:
· Sell at the highest price: the person who offers the highest price wins the sale;
· Sell at a declining price: the starting price drops until a collector buys.
NFT for sale
When looking to buy and sell NFTs, it is important to have a good understanding of the market and what is making the most money, especially if you are looking for investments that you want to resell in the future. Whatever your passion, there is an NFT that suits your interests that is sure to be a great investment that can also provide an entertainment factor.
The first is NBA Top Shot, which the NBA officially licenses with a blockchain developed in partnership with Dapper Labs and built on the Flow blockchain. In a nutshell, each NFT contains a short video clip of a game “moment,” such as a dunk or game-winning block, accompanied by relevant information, such as the rarity of the NFT and the featured player’s stats, as well as seasonal averages.
Hashmasks are a great place to start for those who want to collect artwork. Created by Suum Cuique Labs in Switzerland, this site features a variety of digital artwork from more than 70 artists from around the world. There are 16,384 digital artworks available that are unique, and, like Cryptopunks, the desirability and rarity depend on Hashmask attributes.
Another way is to buy shares of publicly traded companies that operate in the NFT space or plan to launch NFT-related businesses, the non-fungible tokens. So below, we’ve selected 3 stocks ideally positioned to take advantage of the NFT craze via the stock market to help you determine which stocks to buy.
Action NFT eBay
As one of the world’s most established e-commerce platforms and a leading marketplace for trading collectibles, eBay also intends to grab a bite out of the NFT business by offering certain NFTs on its platform for sale.
DraftKings NFT Action
Mobile sports betting specialist DraftKings recently released an NFT marketplace, mainly focused more on sports-related NFTs. Indeed, because the company established itself as enormous sports betting brand, the move into NFTs looks to be a very obvious step. Trading cards related to sports have become highly collectible and desired in various industries.
NFT Cloudflare stock
On the other hand, Cloudflare offers a range of services that help improve Internet efficiency and security and is a leading provider of cloud services. When you purchase Cloudflare stock, you effectively become an investor in an important player within the NFT infrastructure.
Pricing NFT is challenging as this asset category is still somewhat new. First, remember that physical collectibles or tangible works of art have a defined value. However, investors looking at the NFT price may find it difficult to decide whether an asset is worth its cost. In addition, non-fungible tokens are emerging in several areas, which is driving its growth. To understand this development, here are some factors on which to base the NFT price:
· Future value
· Liquidity premium
· Ownership history
If you don’t know where to start, here are 4 different marketplaces where you can buy NFTs. Some are generalists, and others sell very specific themed products. Let’s get to it:
Crypto.com: Best Platform to Buy NFTs
Crypto.com is a very comprehensive cryptocurrency platform that has been around since 2016. The site offers many services in the crypto field, such as crypto investing and cryptocurrency payment cards. The platform then expanded its crypto offerings by opening an NFT marketplace, where it is possible to buy and sell NFTs easily and securely on a proven international platform.
OpenSea: A Wide Variety of NFTs
With over 700 non-fungible tokens, Opensea is one of the most popular marketplaces. This platform offers assets in different categories such as music, art, collectibles, and virtual worlds. Among its range of assets, you can buy CryptoKitties or even Decentraland tokens, which are exclusive tokens. In addition to buying, it is possible to sell and create your own tokens.
Nifty Gateway: Several Payment Methods Available
The Gemini exchange team designed a nifty Gateway. This platform is specialized in buying and selling artworks from artists registered on the primary market. Well-known artists collaborate with Nifty Gateway, such as Grimes or LOGIK. To buy and resell collectibles, it happens on the platform’s secondary market. Unlike other platforms, Nifty Gateway allows you to deposit funds in ETH and fiat currencies via a bank card.
Rarible: To Buy Digital Artistic Assets
You can buy, sell and create NFTs on Rarible. Its target areas are music, photography, and games. In addition to artworks and collectibles, you can also find memes and domain names. As a bonus, members of this marketplace get ERC-20 RARI tokens for free.
Since NFTs have become public knowledge, some have described them as a revolution in the art market and in the use of the web. Many celebrities and artists have publicly taken a stand in favor of this trendy technology. But NFTs also have their detractors. The latter mainly point the finger at the ecological footprint generated by the exchanges of this fast growing market. Until now, the Ethereum blockchain has consumed a lot of electricity, and now it accounts for almost all NFT transactions.
The most expensive NFT
Realized by the famous NFT artist, Mike “Beeple” Winkelmann, the artwork called “Everyday: the first five thousand days” is the most expensive NFT project up to now. Indeed, “Beeple: Everydays: the first five thousand days” is the most expensive NFT project to date, with a valuation of over $69 million. The author highlights a collection of images representing an interweaving of 5,000 days of uninterrupted artwork in his work. The author certified the project and then authenticated it by the Blockchain system. This double authentication guarantees both its originality and its security. Today, the NFT project “Beeple: Everydays: the first five thousand days” costs more than 69 million dollars.