Overview: Why Need to Buy NFTs Token and Where to Buy NFT Tokens
Ever since the Crypto artist Beeple sold his digital collage for 69 million dollars, there has been a buzz in the crypto world for NFTs. Today, NFTs remain one of the hottest topics amongst tech enthusiasts and artists looking to maximize the trading opportunity in this relatively new yet massive digital art world. From big shot artists like John legend and Mila Kunis to some of the biggest movie companies like AMC Entertainment Holdings, everyone seems to be grappled by the NFT craze.
If you are still not hazy about the understanding of NFTs, you probably should get educated soon. Since this is one massive opportunity, which is termed equal to the internet bubble of the 90s.
Just to quickly give our users a brief intro about NFTs, these are non-fungible tokens (hence NFTs). NFTs can be any form of digital art from music to games to sports memorabilia, personal collectibles, or artwork. NFTs are secured by blockchain frameworks, which makes them impossible to replace, forge, or delete. This also means that your NFT will serve as your digital asset, which you can trade like any other physical asset (only that these are currently more valuable).
Apart from being tamper and plagiarism proof, the use of blockchain systems in NFTs also means that these can essentially be used to track the ownership of digital art. Today, the technology is widely used by artists, musicians, and collectors to sell and purchase digital art, music, personal collectibles, sports memorabilia, and more.
How to Buy NFTs
Ethereum (ETH) is one of the most widely used blockchain systems that is used to purchase NFTs, which is why it is also called the native currency of NFTs.
Ethereum blockchain enables users to build apps that can store personal data and thus can be used to store NFTs or perform complex financial transactions. All the transactions taking place on the Ethereum blockchain are referred to as smart contracts, which are stored and automatically executed once the prerequisite conditions are met.
Thereby, before you can buy NFTs, you would have to create a digital wallet and purchase some cryptocurrency that can be used to buy NFTs. Since Ethereum is the most widely used cryptocurrency for buying NFTs, we recommend buying the same.
There are various crypto marketplaces to create your crypto wallet, including crypto.com, OpenSea, Rarible, etc. Once you are registered with the marketplace, you can easily purchase Ethereum coins against your “fiat” currency like Dollars or Euros.
Once you have Ethereum or other cryptocurrency to be used for purchasing NFTs, you can simply move on to browse through hundreds of digital artworks listed on the platform for sale.
Where to Buy NFTs
According to one research, the global NFT marketplace will reach over USD 3.5 trillion by 2030. This is a massive number considering that the NFT market hit USD 340 million in 2020. Nonetheless, tech pundits seem to be ready to anticipate the meteoric rise of NFT markets in the coming decades. This is also one of the reasons why we are seeing a massive number of NFT marketplaces offering users better and more interactive tools to sell and purchase NFTs.
Below, we will be reviewing three of the most widely used marketplaces to buy NFTs.
Crypto.com is one of the most popular and widely used NFT marketplaces that enable users to quickly sell and purchase digital collectible artwork from artists, musicians, celebrities, and brands. The platform allows users to make transactions using credit or debit cards, with crypto.com Pay or other digital wallets like Metamask, WalletConnect and others.
Read our article to explore more: HOW MUCH DOES IT COST TO MINT AN NFT?
Location: Newark, Delaware
SuperRare is yet another popular NFT marketplace that is widely used for the sale and purchase of exclusive single-edition digital artwork. It is a peer-to-peer marketplace that acts much like an Instagram profile, where artists and musicians can showcase their artwork, list prices, and set auctions. The unique aspect of SuperRare is that it only holds a highly curated selection of artwork from established bands and artists and have them displayed like an active social feed.
Location: San Francisco, California
Foundation is a relatively new NFT marketplace, which was only launched in February 2021. However, the platform has since hosted some of the most prized NFT sales, including the Pak’s “Finite” and viral meme “Nayan Cat”. The platform lists NFTs as a grid of cards while displaying trending auctions and featured artists. Foundation is designed as an interactive platform and is built on Ethereum.