This is a question that comes up a lot. We hear so much about NFTs that we would like to know a little more about the subject. The big questions that many of you are asking: How to buy NFTs ? Where to buy NFTs ? Well, we will try to answer these questions as precisely as possible.
After explaining to you what NFTs are (better start here if you don't know anything about the so-called Non-Fungible Tokens), we will see how it is possible to acquire them through marketplaces specialized.
Summary
Quick overview of the NFT market
The global market for NFTs is booming and if you're new to this business, you must be unaware of the earning potential they represent. In 2020, the NFTs market reaches $94.9 million. One year later, in 2021, the total sales volume of NFTs reached over $24.9 billion.
Of course, not all NFTs have the same value. While some sell for a handful of dollars, others are skyrocketing to over a million dollars. Currently, the most expensive NFT is a work by Beeplesold for 69.3 million. But it is important to know that an NFT sells on average between 100 and 1,000 $.
In any case, it is always difficult to really know which NFT to buy. So before realizing the purchase of an NFTIf you are interested in buying a property, make sure you are well informed about your future acquisition. It is by researching the sector over and over again that you will have the best chance of making a successful investment. An informed man is worth two.
What you should know before buying NFTs
First of all, it is important to know that NFTs are closely related to the crypto-currency market. The exponential growth that NFTs are experiencing is therefore totally correlated with the crypto-currency market.
You can't buy an NFT if you don't own a crypto-currency. NFTs are stored on a blockchain, and in order to acquire them, you need to own native currency from the same blockchain (at least to pay transaction fees).
Next, it seems pretty obvious, but the marketplaces you're going to acquire your NFTs are different from the e-commerce sites we are used to go to. On these platforms, only virtual objects are sold. To be precise, you buy a property right on a unique virtual object. Your certificate of authenticity is then registered on a blockchain (unforgeable and unalterable) and stored in a dematerialized way. Don't expect to receive anything at home after this purchase. 😅
On these marketplaces, the NFTs are presented in the form of product sheets, a bit like on any e-commerce. You will find a title, a description, specific characteristics, the price, the end date of the sale. You also have access to all transactions made with this NFT.
How to buy NFTs: steps to follow
Steps to purchase an NFT on a marketplace:
- Get a digital wallet crypto currency such as MetaMask. I explain the very simple installation procedure in my guide how to create a wallet MetaMask.
- Load your wallet into crypto-currency. The best being to buy Ether, this will allow you to pay the gas fees of marketplaces based on the Ethereum blockchain (the most widespread to date) and buy your NFTs in ETH.
To get crypto currency, go to a exchange. We advise you Binance (easy to use, secure and the largest exchange of cryptos to date). - Then go to the marketplace of your choice (we list some of them a little further down in the article) and create an account.
- Connect your wallet MetaMask (or other) to the Marketplace.
- Explore the marketplace, bid or buy directly the chosen NFT.
Worth noting: Most of the NFTs you will want to acquire will need to be purchased with Ether as the majority of them are on the Ethereum blockchain. But some NFT platforms accept stable coins as BUSD or can support credit card purchases (rarer).
Where to buy NFTs? Examples of marketplaces
It's normal to ask the question where to buy NFTs ? There are different marketplaces on which you can buy Non-Fungible Tokens. Some may be generalist and offer any type of NFTs. Others are specialized (art, sports, video games, etc.) and offer only certain types of NFTs. Of course, this list is not exhaustive.
OpenSea : the marketplace n°1
OpenSea is the world's largest digital marketplace for crypto-currency collectibles and NFTs. OpenSea strives to be the most reliable and secure marketplace by surrounding itself with the best security experts. Founded in 2017, the U.S. platform is valued at $13 billion. It enables create, buy and sell all types of NFTs and runs on the Ethereum and Polygon blockchain.
Rarible: a great diversity of contents
More recent, Rarible is a cross-blockchain platform Ethereum, Flow and Tezoscreated in 2020. There are different categories of NFTs (photography, art, music, domain names, video games, metaverse, etc.). As on OpenSea, you can acquire an NFT by bidding or buying it at a fixed price. The big advantage of this platform is that it allows you to earn royalties on the NFTs you sell and therefore generate passive income on future sales of your creation.
Mintable: the marketplace with the lowest fees
Initially, Mintable was an application that allowed to create NFTs in order to sell them on another marketplace. It finally became a NFTs purchasing platform a full-fledged platform gathering multiple kinds of NFTs. Mintable is based on the Ethereum blockchain, so you'll need a wallet like MetaMask to connect to it. This marketplace allows you to set the amount of royalties that you want to touch with the sale of your NFTs. Finally, Mintable has set up a feature allowing to create an NFT without the gas fees.
Binance NFT: a new service launched by Binance
Launched in 2021, the marketplace Binance NFT belongs to the number 1 crypto-currency exchange platform, Binance. Although a generalist, Binance NFT seems to be moving towards the video game sector as evidenced by its IGO (Initial Game Offer) project, allowing video game developers to finance their projects through the blockchain.
The originality of the marketplace lies in the "mystery boxes"They contain surprise NFTs that you can decide to keep or resell. They contain surprise NFTs that you can decide to keep or resell.
Prices are quoted in Ether (ETH), Binance USD (BUSD) or Binance Coin (BNB). To make a a purchase of NFT on Binance NFT, you must have an account on the Binance exchange platform.
Examples of marketplaces specialized in one sector
Some marketplaces are not generalist, but only dedicated to the project they belong to. Whether it is in the video game, sport, art or other sector, some of these NFTs will only be available on these marketplaces (but they can also be acquired on other platforms).
Many Play to Earn games have their own marketplace of NFTs. This is the case of Axie Infinity or Sorare. In these projects, the collection dimension is preponderant. There are also platforms dedicated to specific projects related to sports, for example NBA Top Shot. Or marketplaces specialized in digital art like SuperRare.
Now you know how to buy an NFT now! I hope this guide has been helpful to you in understanding everything about buying NFTs. If you still have some questions, don't hesitate to consult our full article on NFTs.
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