If you're looking to buy NFT art, you've come to the right place. In this blog post on AtoZ Markets, we will discuss some tips on how to make your purchase. First and foremost, it's important to do your research. Make sure you know what you're buying and what the value of the piece is. You should also be familiar with the artist who created the work. It's also important to find a reputable seller who can provide a certificate of authenticity for the piece. Finally, don't be afraid to ask questions! The art world can be complex, but with a little bit of knowledge, you can feel confident in making a purchase that will last a lifetime.
When we specifically talk about the NFT art, then they are securing a way for a digital artist to monetize their work. The efforts of creative artists will be appreciated more. A masterpiece of someone else now can be named as your digital asset. Different methods of buying NFT art in 2022 will be shared underneath.
What is NFT Art?
image source: popwonder
The Internet has opened a new virtual world for the masses. Now, you can own digital art in this new universe. NFT art is basically a digitized version of an art form. Every piece of NFT art will have a different ownership code that can not be duplicated.
The ownership stands will be built upon the blockchain. The transaction data storing system will be transparent and hard to manipulate as it will not have any centralized body. The fungible tokens are something that can be duplicated in need of more copies. But non-fungible tokens are literally few in numbers or one which can not be multiplied. For example, you can think about a 100 dollar bill.
You can change it for a hundred one-dollar bills. But the value of the asset will still stand on the same margin. Well, NFT art is opposite to this term and can't be broken down into many. Besides, NFT arts are literally an investment that can increase or decrease with time. Are you interested in investing in NFT arts?
Where to Buy NFT Art?
There are many different marketplaces where you can buy and sell NFT art. Every one of them has a different set of rules for NFT trade. We are going to share about the top 8 NFT exchanges of recent times. Waste no more time and just hover down to know more. Let's have a look.
Image source: OpenSea
The first marketplace on the list is OpenSea. It is the biggest NFT marketplace right now. Besides NFT arts, you are also going to find lots of utilities to trade on. The platform is built on the Ethereum blockchain.
You will need to have ETH on your MetaMask wallet to buy NFT arts. Besides, there is also a transaction fee charged for every single NFT buy and sell. You can explore the listed NFT arts for free but listing your own NFTs will ask for an additional gas fee.
image source: mintable
You can buy NFT on Mintable using the ZIL crypto. You need to install the zilPay app and connect it with your account. After that, you should search for your preferred NFT and proceed with the payment.
Share your account details and after payment, you will receive the NFT on your blockchain wallet address.
image source: Foundation
Foundation has a dedicated place for the NFT art trade. You can just scroll and check all the listed NFTs for sale. After you have selected an NFT for buying, you can place a bid. The platform follows a bidding method for buying and selling new NFTs.
Besides, the bid should always be 10% greater than the previous bid. On the other hand, the listing of NFT on the platform also charges a gas fee. If you donâ€™t have a valuable NFT asset to sell then listing one can be costly for you.
Rarible is the first NFT marketplace where you can list your NFT without any gas fee. On other platforms, you need to pay royalties on your transaction and also have different criteria before you start trading.
Rarible is fully community-driven and anyone can buy and sell NFT on the platform. Besides arts, short videos and images can also be listed for sale as a non-fungible token. The native token of the platform is RARI and you can earn it with active participation.
NBA Top Shot
NBA Top Short is an NFT venture of the National Basketball Association. The current value of the asset here in the market is more than $7.5 billion. You can buy the NFT of your favorite basketball player from here. You can buy a surprise pack and open it to get your NBA moment NFT.
The platform uses the Flow blockchain and highlights the major history of the gaming association. You can buy NFT from three different sets, common, rare, and legendary. Besides, there are also two different sets of NFT to purchase, base and non-base. The value of base NFT packs is pretty low while the non-base is the big fish NFTs.
The platform is built by the owner of Gemini Cryptocurrency Company. It was launched back in 2018 and allows the selling and buying of limited edition NFTs. One of the best parts of the marketplace is that you can use actual cash to buy digital assets.
Nifty account does the confirmation and releases the art to the owner's blockchain address. The resale and appreciable value of NFTs can also be monitored.
Super Rare is also focused on NFT art trading. You can bid on a limited-time auction. Besides digital arts, you are also going to find animation, 3D arts, illustration, and many other assets on the platform.
ETH is used as the sole currency of the exchange. The auction will continue for a specific time frame and the highest bidder will have the last smile. After transaction confirmation, the new owner of the NFT art will receive it on his/her blockchain address.
Binance has launched the NFT marketplace in recent times. First, you need to register on the Binance NFT market. You can then browse through different NFT art projects and use BNB for the NFT purchase. The platform also allows P2P facility which makes it easier for you to trade on the platform from anywhere in the world.
The highest bid will always get the NFT after every single auction ends. The successful trading will be informed with notification. You can store your NFT art in any wallet you desire.
How to Verify NFT Authenticity?
When you buy NFT art, it's important to check its authenticity. NFT is designed to create value for real digital artists. But there are still scams in the NFT marketplace and some people are selling duplicate artworks. In order to stay away from these scams, you need to follow through with some simple methods.
One of the most known NFT phishing attempts is done out of the marketplace. You will find many NFT popups on different websites. If you canâ€™t rely on the authenticity of the website then it is better for you to avoid them.
NFT authenticity is ensured by a transparent blockchain system. You should check out the transaction history of the project account of the NFT that you are interested in. Also, try to find their campaign social platform and look out what people are commenting on them.
In this fashion, you will get a clear picture of an NFT art authenticity. Try to stay on active NFT groups and look for suggestions. Scammers always come up with new ways so it is hard to predict them all the time. So, buy NFT art only from the trusted marketplace and artists who are verified on your selected platforms.
Can You Get NFT Art for Free?
Everyone is not comfortable with NFT purchases. But still, if you have a desire to own an NFT art then free trade is the only method available. You will be happy to know that there are methods through which you can get free NFT art on your blockchain wallet.
For example, recently DC has announced NFT free distribution just by signing on their DC FanDome platform. You can get a max of two NFTs of different tires just by signing and sharing the news. The event is done to encourage people to participate in their events.
The same promotional stunt is done by many other NFT marketplaces. You just need to be there to seek the opportunity and who knows it can make you millions in the future. Besides many new artists, they distribute their digital arts for free.
You can take this opportunity for gaining an NFT art for free. Many big projects have also gained popularity in this fashion. You can participate in this airdrop and hodl the NFT for a long time frame.
How to Buy NFT Art
- Create an Ethereum wallet, e.g. Metamask or Ether Wallet.
- If the token you want to purchase is not on the Ethereum network then install a native blockchain-based one from their website homepage.
- Visit your preferred NFT marketplace like SuperRare (no extra steps required) and click Sign Up button under signup bar at top right corner of page; accept prompt for connecting wallets.
- Accept the offer to connect your wallet by clicking the Sign Up Button.
- Accept the signature transaction and provide your login and email address.
- To find something you like, go to the Marketplace and go through the art selection.
- Choose an artwork and make an offer or purchase it right now.
- Complete the transaction by entering your bid amount and approving the transaction.
- Your ETH will be frozen until your highest bid is approved. When you click Proceed to Payment on an item with a fixed price, the transaction is completed.
- To see the purchased item, go to My Items.
Can Anyone Sell Nft Art?
NFT art is open to the whole world. You don't need to share any of your personal information in order to sell an NFT art. You just need to have the ability to create NFT arts. But you can also create NFT using images, animation, videos, etc.
Most of the NFT marketplace is going to ask you a gas fee for listing your NFTs. But the listing does not ensure that your NFT is going to be sold. You need to create a campaign around your NFT arts. There should be a demand for your digital arts on the market.
You can offer some airdropping to encourage a group of people on your projects. NFTs markets are volatile and anything can happen anytime. But still, you need to make sure that you have a premium quality non-fungible token for trade.
You can take inspiration from the successful NFT projects and follow in their footsteps. Your NFT value will depend on people's desire to spend on your creation. So, anyone can list NFT for sale but trade will only happen based on the buyer's desire.
Do You Need to Pay for Selling NFT on The Marketplace?
The largest market of the NFT art is in the OpenSea. Most of the new digital artists often think that it is free to list NFT on OpenSea. It is partially true but you will need to pay a gas fee at your initial NFT listing. But there are also examples like Rarible where you can sell NFT without any gas fee.
The amount you need to pay for selling NFT on the marketplace will depend on the platform you want for. Profiting by selling an NFT of only $100 is not a thing yet. You need to count for a group of NFT art and make a huge profit out of it.
The transaction and gas fees seem to be in place on the market for a long period. It is also a way to keep out the messy people who are just tapping in for free money. The community will grow as long as you have authentic artists making NFT arts.
You can list your NFT for free. Even the big platforms will ask for a gas fee only once. After that, you can continue selling your NFT with minimum transaction fees. The trend of NFT art does not seem to go away any day soon.
Are There Coins Related To NFT?
There are many NFT related coins on the marketplace. Many gaming platforms are introducing earn-to-play methods using their own digital coins. For example, you can talk about the Axie Infinity which has its cryptocurrency known as AXS.
Many other platforms are using the same methods to create their virtual arena. There is a misconception that NFTs are basically for the artworks only. Well, NFTs are versatile enough even to work with virtual land ownership.
Platforms like Sandbox and Decentraland have their cryptocurrency and they are believed to be a great asset in the long term. Even if you canâ€™t afford to buy an NFT virtual land, you can still invest in their cryptocurrencies for future gain.
The NFT art industry is merely at the beginning of its journey. There are still lots of obstacles to avoid and work to do. Keep in mind that every NFT art is not going to make you money. You need to value the artwork stage and what they are offering before doing any bid.
Like any other market, NFT value can fluctuate with time-based on tech advancement and market news. Every NFT is unique and has its own potential. You need to have the ability to recognize the potential of an NFT art and value it accordingly.
One of the most expensive NFT projects CryptoPunk was once valued at less than $20 which is now making millions. I hope your desire to buy NFT can be fulfilled by the information shared here. Feel free to contact us for more info. We are happy to see you till the end.