Where to buy NFT token
The non-exchangeable token market is a promising new trend in the blockchain development industry. This type of assets is useful not only for earning, but also confirms the right to own an object: a painting, a music album, any digitized material. You can buy NFT token on marketplaces and exchanges. In order not to make a mistake in choosing an asset, it is worth analyzing its origin and the reputation of its creator.
1. Features of NFT tokens
2. Why buy non-interchangeable tokens
3. Where to buy NFT token
4. The best platforms to buy NFT
5. Exchanges
6. How to get a free NFT
7. Minting
8. Bonuses and giveaways
9. Buying NFTs for bonuses
Features of NFT tokens
Coins of regular cryptocurrencies are similar to each other – one bitcoin is no different from another. That’s not how it works with non-interchangeable tokens. Each of them has its own number, which allows you to figure out the asset among many others.
The NFT format is sold in:
- Artifacts (paintings, drawings, music, clips, comics, etc.).
- Artifacts from games (cards, coins, etc.).
- Collections of jewelry, books, badges.
- Virtual real estate (plots of land in meta universes).
In the near future, transactions with non-interchangeable tokens could move into real life. Such a precedent was already recorded on June 15, 2021 – in Kiev, an apartment in the form of NFT was sold for 36 ETH or $93,000 at the time of the transaction.
With this new type of asset comes the concept of royalties – payments to the first owner or creator of the token that are paid on each subsequent transaction.
Why buy non-interchangeable tokens
NFT is one of the developing areas of alternative investment with high risks. The main threat comes from the rapid growth of asset values. While the classical 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 during his entire career as an artist, sold his first digital art for $69 million.
NFT is a non-redeemable digital 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.
JPEGs, PDFs, MP3s, and other formats can be copied, but NFTs cannot. This creates a shortage of tokens, which makes each unit valuable.
Where to buy NFT token
Digital assets are traded on special marketplaces. To work with them, you will need to create a cryptocurrency wallet. Without this bridge, users will not be able to make transactions:
| PLATFORM | TOTAL TRADING VOLUME IN SEPTEMBER 2021 (USD) | TOKEN SALES FOR THE WEEK (USD) |
|---|---|---|
| CryptoPunks | 131,350 млн | 22,545 млн |
| SuperRare | 32,863 млн | 3,344 млн |
| Sorare | 30,149 млн | 2,189 млн |
| Hashmasks | 55,611 млн | 1,45 млн |
| Decentraland | 43,676 млн | 1,136 млн |
Large exchanges also create their own services for the sale of NFT tokens, wanting to get the first position in the market due to the volume and user-friendly interface.
The best platforms to buy NFT
Popular marketplaces sell NFT for Ethereum, but 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 make your own bid in an auction:
- OpenSea is the first and largest NFT marketplace. About 40 thousand transactions take place here every day, and the number of active lots exceeds 1 million. The site works with 3 blockchains – Ethereum, Polygon and Klaynt.
- Rarible is one of the best resources for buying and selling collections, art objects. The platform is owned by members of the ETH community who hold ERC-20 tokens, creating liquidity for trading.
- SuperRare is a project focused on art, cultural items and collectibles. Users buy assets at a fixed price or through an auction and sell them on the secondary market, or store them in their own digital collection.
- Axie Infinity is a marketplace for the popular game. The daily trading volume on the site is $28 million, but there are more active users than on OpenSea.
- Foundation – a platform aimed at creators of digital assets. The author’s royalty is 10% of each lot sale.
The list goes on: AtomicMarket, Myth Market, Baketymarket, Async Art, KnownOrigin, Enjin Marketplace, and others. These sites are no worse, but still have a small audience. Therefore, their popularity is lower. Here you can also find interesting and promising lots.
Exchanges
Binance NFT is a recognized leader, which cooperates with large 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 fees.
Another major player on the digital asset market is NFT Box. The service is owned by the Gate.io exchange and runs on the GateChain protocol, which improves its performance and reduces maintenance costs.
How to get a free NFT
Selling NFT tokens is not the only way to get artifacts. You can get them for free if you show some activity. Developers of digital projects often organize drawings in social networks with valuable prizes in the form of NFT. In addition, an asset can be created or exchanged for bonuses.
Minting
Large platforms offer customers a fee for storing NFTs. The service is not free, you will need to compensate for gas costs for transactions and asset creation. Some sites (Rarible) mint the work immediately before a real buyer shows up, which means the commission has to be paid anyway.
Bonuses and giveaways
Token giveaways are used as a marketing tool on Instagram and other social networks. Representatives of the NFT community also participate in draws for valuable digital prizes. More often than not, you have to do a simple action to get a chance to win.
Buying NFTs for bonuses
Some sites offer visitors to accumulate points to redeem for NFT tokens. For example, CoinGecko regularly displays a collection of digital artifacts that can be purchased with points. These sets also include t-shirts, badges, and other branded merchandise.
