Where to buy NFT token

With the new type of assets comes the concept of royalties. These are royalties to the first owner or creator of the project, which are paid on each subsequent transaction.

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Why buy non-mutualizable tokens

NFT is one of the emerging areas of alternative investing with high risks. The main threat comes from the rapid growth of asset values. While the classic art market shows an average return of 7.5% per year, in the blockchain industry the price of an NFT token can change within a day. For example, artist Mike Winkelman, who received royalties of less than $100 per piece for his entire creative career, sold his first digital art for $69 million.

The NFT is an irreplaceable asset. Therefore, a user who wants to buy a particular token will have to search for it on marketplaces after a public sale or giveaway.

JPEG, PDF, MP3 and other formats will be able to be copied, while with NFT such a procedure is impossible. This creates a scarcity that makes each unit valuable.

Where to buy an NFT token

Digital assets are traded on special marketplaces. To work with them, it will be necessary to create a cryptocurrency wallet. Without this bridge, users will not be able to make transactions.

Large exchanges are also creating their own services for selling NFT tokens. Their goal is to get the first positions in the market due to volumes and convenient interface.

Best platforms for buying

On popular marketplaces, NFT is sold for Ethereum. However, some platforms trade digital artifacts with USDS, DAI and other cryptocurrencies. After funding your wallet, you can buy the asset at a fixed price or place your bid in an auction:

• OpenSea is the first and largest NFT marketplace. Every day about 30 thousand transactions take place here, and the number of active lots exceeds 1 million. The site works with many blockchains: Ethereum, Polygon, Klaynt, Optimism, Arbitrum and others.
• Blur is an NFT-marketplace focused on traders. The platform offers advanced features such as collection analytics, bulk listings, and portfolio management. Blur quickly gained popularity due to low commissions, high transaction speed and user-friendliness.
• SuperRare – The project focuses on art, cultural items and collectible lots. Users buy assets at a fixed price or in an auction and sell them on the secondary market or store them in their own digital collection.
• Magic Eden is one of the largest marketplaces, originally launched on the Solana blockchain but later expanding support to other networks such as Ethereum and Bitcoin. Magic Eden is known for its diverse collections and active integration of games and meta universe.
• UniSat – This is a decentralized platform that is gaining popularity among users interested in Ordinals and NFTs on Bitcoin. It offers a user-friendly interface and support for secure transactions.

The list goes on: OKX NFT Marketplace, Element Market, Tensor, Sorare, MOOAR and others. These marketplaces are no worse, but so far have a smaller audience. Here you can also find interesting and promising lots.

Exchanges

Binance NFT is a recognized leader that cooperates with major cultural representatives, famous collectors and crypto-enthusiasts due to its influence and available resources. Due to its large community, the exchange offers potential clients high liquidity and minimal commissions.

Another major player in the market of digital assets is Gate NFT. The service belongs to the Gate.io exchange and operates on the GateChain protocol, which increases its performance and reduces maintenance costs.

Ranking of the most promising NFTs

Blockchain gaming first brought people’s attention to non-mutualizable tokens and showed the potential of the new technology. Gaming remains a popular area for the application of NFTs, and the list of promising projects for investment includes:

• CryptoPunks , an Ethereum-based platform created by Larva Labs in 2017. The number of artifacts on the site is limited to 10,000 units. Most of them are common, but there are also unique pieces worth over $1 million (for example, Alien Punks sold for $8 million).
• NodeMonkes is a popular NFT collection based on the Bitcoin Ordinals protocol. It is now one of the most capitalized series on the Bitcoin blockchain. It consists of 10,000 unique items.
• IBOX – The collection combines art with real-world utility. It aims to provide exclusive access to events and digital experiences. The IBOX team is working to integrate the ecosystem into the broader entertainment and media industries.
• Minimonkey – The collection consists of unique 2D monkey artwork with a variety of features. It caters to a wide audience and has found its niche in meme culture. It runs on the Polygon network.

Other ways to obtain

Selling NFT-tokens is not the only way to get hold of artifacts. They can be obtained for free if you show some activity.

Creators of digital projects often organize drawings in social networks with valuable prizes in the form of NFT. In addition, the asset can be created or exchanged for bonuses.

Minting

Large platforms offer clients a reward for storing NFTs. The service is not free: you will need to offset the cost of gas for transactions and asset creation. Some sites (like Rarible) mint the work in advance, before there’s an actual buyer, which means the commission has to be paid anyway.

Bonuses, Raffles, and Airdrops

Token giveaways as a marketing tool are used in various social networks. Representatives of the NFT community also participate in drawings of valuable digital prizes. More often than not, you need to do a simple action to get a chance to win.

Buying with bonuses

Some sites offer visitors to accumulate points to later exchange them for NFT tokens. For example, CoinGecko regularly displays a collection of digital artifacts that can be purchased with bonuses. These sets also include t-shirts, badges, and other branded merchandise.

Create your own

A picture, GIF drawing, music track, article, and other materials can be turned into a digital asset. Popular marketplaces offer to create your own NFT and then sell it for a fixed price or at an auction. Both procedures are fully automated.

How to create your own token

Any digital asset can be easily converted into an NFT. To do this, you need to:

1. Find an intellectual property that can be turned into digital property – a self-drawn picture or an online map of an object created by artificial intelligence.
2. Choose a marketplace (for example, OpenSea), register an account.

3. Connect a cryptocurrency wallet to the platform.
4. In the Minting section, upload a file, give it a description, determine the price.

The generated token can be sold directly on the platform or sent to the wallet to be used for personal purposes.

The future of NFT

Since 2021, the popularity of non-replaceable tokens has decreased. The total volume of digital property traded between January and May 2024 was $8.5 billion. By comparison, this figure was in the neighborhood of $17 billion in January 2022 alone.

However, famous artists and musicians, as well as ordinary users, make money on the sale of assets. In some cases, NFT tokens are worth tens of millions of dollars. However, this application of the technology is not the limit.

Non-Fungible Tokens are also a way to protect copyrights for digital content. In fact, a certificate is issued confirming ownership of the asset, and data about the developer is stored in the token’s code. The prospects for using the technology are encouraging. Today it helps musicians protect intellectual property, and in the future it will certainly be of interest to streaming platforms, movie and TV series licensing services.

Real estate transactions, the sale of cars and other valuables may also move to blockchain. It is impossible to forge a document on the ownership of property – information about previous owners will be recorded inside the NFT-token. The latter is often a concern for motorists, who find it difficult to determine the first owner of a vehicle due to the loss of documents. At the same time, car thieves will not be able to sell the car or its parts if all the data about the vehicle will be placed in the chain of blocks.

Where to store the purchased token

Many NFTs are based on the Ethereum blockchain, but there are others. Like cryptocurrencies, they are stored in compliant digital wallets that protect by not allowing artifacts to be viewed. This is why most collectors choose services with Collectibles features. Such vaults support popular token standards and show information in a convenient form.

Frequently Asked Questions