NFT or Non-Fungible Token is a digital asset that serves as a protected record of ownership for a product or a collection of the product. It is stored in block chain ledgers like Solana and Ethereum.
Since NFTs cannot be altered or copied, they are ideal for tracking the ownership of a property, which can be easily replicated, just like the rights to a piece of land or an image.
As suggested by Vig, the majority of the things can get minted as NFT, right from virtual marijuana farms, Crypto Punks blockheads to domain names, and short films. But these days, the excitement among all the investors is centered around video games, digital sports, and sports collectibles.
These are places where users govern and build alternate realms, also known as “METAVERSES.”
NFTs: Where To Purchase Them?
These days, the majority of the NFTs are purchased with the help of Ether [ETH]. This is the native currency of Ethereum, which you can easily convert to US dollars through exchanges, such as Gemini, Coin base, and Kraken.
But there are markets where you can easily buy and sell NFTs to recoup a percentage of resale’s with the help of royalty agreements. Here are some of the marketplaces where you can purchase and even sell NFTs. Check it out.
This is a peer-to-peer marketplace from Newark, Delaware, the USA, for selling and buying digital artwork of single-edition. You will encounter a tile of windows like Instagram, displaying time auctions, art, list prices, and sale prices.
One of its top-sellers is the Time Magazine Cover, which is going for $300,000. The platform receives a lot of traffic, and a curate selection of brands and artists calls the site their home.
Super Rare has features, such as the active social feed and high-touch editorial page that carries artist statements and profiles. Apart from that, it also has a calendar that shows all the upcoming events or exhibitions. Due to these features, the website gives out an online magazine feel.
Launched in Los Angeles, California, in 2021, Foundation has conducted NFT sales for the most-popular meme on the internet, Nyan Cat. On the other hand, the site has also hosted NFT sales like Pak’s Finite work and records, such as Nadya Tolokonnikova of the Pussy Riots, Edward Snowden, and Apex Twin.
All the work done by the creators is arranged in a grid of cards along with trending auctions. You will find it displayed at the top area of the platform along with the featured artist. All works are listed at a reserved price, and all the bids get placed within 24 hours.
There is also a 15 minutes extension if people place their bids in the last 15 minutes. Users have to create a MetaMask wallet with the help of Ether right before they think of making an artist profile on the site and then get to mint an NFT or buy artwork of their choice.
3. NBA TopShot
NBA Tops hot was launched as a beta by the Dapper Labs during early 2020. This platform enables all the NBA enthusiasts to trade and collect digital “MOMENTS” from the NBA. These moments are released in the form of limited-edition sets, ranging from $9 to $230.
Otherwise, they are also available through the open trade on-the-box scores and players, broader marketplaces, and moments feature video highlights. On the other hand, collectors have the power to trade assets on the site’s own block chain, follow their favorite teams and display their collections.
Mint able is backed by Time Ventures, owned by Marc Ben off and Mark Cuban, a billionaire investor. This is a two-sided marketplace, which resembles eBay and you can purchase and even sell NFTs in a stress-free manner.
The site is built on Ziqilla and Ethereum block chains, and it’s integrated with MetaMask allowing all the buyers to make a crypto wallet. Apart from that, creators are given a chance to mint out “GASLESS” NFTs, traditional transaction-based products, or short-run printable series.
Once you create your profile and load up your crypto wallet, you can start bidding on auctions or buying all the listed items displayed on the site. The platform notifies all the winners through email.
5. Axie Infinity
Located in Ho Chi Minh City in Vietnam, Sky Mavis designed Axie Infinity, a Vietnamese start-up. This is a Pokemon-inspired game, where individuals play as cartoon characters, go head-to-head against other players and build a farming kingdom.
The platform has an average 23 million monthly players between September 18th, 2021, to October 18th, 2021. The land plots and the characters are encrypted as NFTs. Both gamers and collectors can easily purchase them from the marketplace.
The animals get sold for hundreds of dollars, and the virtual land plots are sold for $20,000.
This is a crypto currency-based fantasy soccer tournament, which was designed and established in Paris, France. In this platform, you can collect all the player cards in NFTs and then utilize them at the competitions online. The platform has over 180 licensed soccer clubs, which includes the teams from Major League Soccer.
All the transactions will take place through Ethereum, and as a user, you can participate in the fantasy league by purchasing exclusive NFT collectibles and low-cost digital players. For instance, a card of Kylian Mapped, a forward for Paris Saint-Germaine, a Ligue 1 club, was sold for $65,000.
It was also reported that the site raised revenue of $680 million in the Series B funding. This was led by Vision Fund 2 of Softbank that values the platform at $4.3 billion.
Established in Antwerp, Belgium, Vinyl has a user-base, which is over 200,000. This peer-to-peer NFT marketplace enables users to buy, sell, and even make characters, collectibles, and weapons without worrying much about obtaining crypto currency.
You can connect your wallet to buy and sell all the assets by playing the block chain games, such as The Sandbox and Ethermon. With the partnership with Polygon, a development network is made available on the site to connect crypto currency exchanges, and Ethereum-compatible block chain networks like Binance will enable payments in US dollars through PayPal.
In this article, you gain information about the various marketplaces, where you can buy and create seven NFT or Non-Fungible Token in a hassle-free and stress-free manner.