Where Can I Buy NFTs?
Although they’ve technically been around for many years, NFTs are a particularly recent investment phenomenon – but where does one go to get their virtual hands on them?
NFTs are all the rage these days, yet despite their widespread use, many people remain unfamiliar with them. Non-fungible tokens, often known as NFTs, are one-of-a-kind digital items that may be valuable in the same way as actual artworks are.
They are one-of-a-kind, tradeable, and kept on the blockchain. NFTs may sell for millions of dollars, as seen by shows like ‘The Merge’ and Beeple’s ‘Everydays’. Some of the most costly NFTs available today are known by collections like CryptoPunks and the Bored Ape Yacht Club.
The way we engage with digital objects has altered because of NFTs. Creators are no longer reliant on social media platforms to communicate with their audiences, and they may do it without the need for any media or centralised platform.
It’s important that you should know where to get NFTs before jumping on the NFT craze. There are a few marketplaces to choose from and this article will assist you in determining which one to choose based on your personal preferences.
Where Can NFTs Be Purchased?
NFTs can be purchased from a number of different marketplaces, each of which possesses specific collections and works by particular digital artists. Your preference in NFT art types will usually determine which NFT marketplace you use.
To purchase NFTs, you’ll need cryptocurrencies, and you’ll need a cryptocurrency wallet to store them. Signing up for a cryptocurrency exchange like Binance will allow you to establish a crypto wallet for free. The coins you purchase will then be kept in your account.
Remember that you won’t be able to purchase NFTs with all cryptocurrencies since the majority of them are constructed on the Ethereum blockchain, thus you’ll only be able to pay with Ethereum-based cryptocurrencies. Credit card purchases are possible on several marketplaces.
What Are The Most Popular NFT Marketplaces?
After you’ve set up your crypto wallet, all you have to do now is join an NFT marketplace and link it to your wallet. You may now search the marketplace for NFTs that you feel are easily worth their sale price in your mind.
In most NFT markets, there is a set pricing system where you may purchase an NFT at the advertised price, as well as an auction system where you can put in an offer for an NFT and hope to be the highest bidder.
So, to answer the original question, here are some of the most popular marketplaces for buying NFTs:
OpenSea was the pioneering marketplace for buying and selling NFTs globally. The Ethereum, Klaytn and Polygon blockchains are all supported by this platform. On this portal, you may search through over 34 million NFTs organised into dozens of categories, including digital art, collectables, gaming goods, virtual worlds, and domain names.
On OpenSea, all transactions are atomic, which implies that either the whole transaction or none of it occurs. It’s not like eBay, where the customer must pay in advance for the products. As a consequence of the Wyvern Protocol, there is no difficulty with trust regardless of who acts first.
Because the NFT isn’t transmitted on the blockchain until the purchase is done, OpenSea allows developers to mint NFTs without incurring any energy fees. That implies you may convert a digital file to an NFT for free and just pay the energy price when the item sells. After the NFT is sold, OpenSea additionally receives a 2.5% share. The buyer pays the cut on fixed-price products, whereas the seller pays it on auctioned items.
Another popular NFT marketplace for tokenized digital art is Rarible. Digital art, domains and metaverses are among the NFT genres available on Rarible. There are certain NFTs that are for sale at a predetermined price and others that are auctioned.
Rarible, like most other marketplaces, takes a 5% cut of each transaction and divides it evenly between the customer and the seller. As a result, both parties must pay 2.5 percent of the total cost. Rarible offers a wide range of payment options thanks to its support for over 20 cryptocurrencies, including ETH and USDC.
The most appealing feature of this platform is the ability to earn royalties on the NFTs you resale, allowing you to generate a stream of passive income while still receiving a cut every time the NFT is sold. Rarible may also be used to earn prizes, which are paid out in Rarible’s native cryptocurrency, RARI tokens.
Mintable is a gasless NFT marketplace where you can mint NFTs from your memes, music, and video files. The platform is based on the Ethereum and Zilliqa blockchains, and registration requires a MetaMask wallet. Mintable gives you a MINT token every time you purchase an NFT.
Mintable also pays a royalty when you sell an NFT you previously held, although it isn’t a set proportion. Instead, consumers may utilise the sliding scale to choose the number of royalties they desire for all future sales.
Mintable, like other NFT marketplaces, gets a percentage of every item sold. This isn’t, however, a fixed cost. Mintable, on the other hand, charges 2.5% for standard NFTs, 5% for gasless NFTs, and 10% for printable NFTs.
4. Axie Infinity
Axie Infinity is a gaming “metaverse” in which players may develop and breed Axies, which they can then compete within a card game. Each Axie is a one-of-a-kind digital asset with its own set of characteristics that can be purchased or sold.
A MetaMask wallet is required to use Axie Infinity, which is based on the Ethereum network. Before they can begin playing, new players must have at least three Axies. You may not only trade in-game items for NFTs, but you can also purchase virtual land in the game.
Axie Infinity operates on a pay-to-play-to-earn paradigm, with tokens being earned and cashed out every two weeks. It takes a 4.25% cut from both the buyer and the seller for every transaction you complete. If you wish to breed your Axie, you’ll also have to pay a certain cost.