Buy NFT 2022: How to buy NFT tokens and how they work

For the past year, the biggest crypto trend has been non-fungible tokens (NFTs).

As the buzz surrounds NFTs, museums, auctioneers, sports clubs, and celebrities are selling their first NFTs and making millions. The hype around NFTs has only just begun.

What are NFTs? How do these even work? Where does your value come from? Is the NFT worth buying or trading?

When trading NFTs, what should you watch out for? The following guide provides information on where to buy NFTs online, as well as how to buy NFTs. The definitive guide to NFTs for 2022 is also included in our ultimate NFT guide.

Where to Buy NFT? Here is our NFT platform ranking:

Crypto.com – One of the world's leading providers of cryptocurrency and NFT
Binance – A global NFT exchange offering low costs
Coinbase – The popular cryptocurrency exchange has also joined the NFT revolution
Open Sea – A pioneer in the high-volume NFT market
Rarible - A resource for buying rare, collectible NFTs

Where to buy NFTs?

Many investors now wonder where to purchase NFTs. For this purpose, several platforms as well as NFT applications are available. For buyers and creators, the best platform right now is NFT Launchpad, which we will present in more detail below.

Please note, however, that you must first purchase the underlying cryptocurrency before you can purchase non-fungible tokens. Consequently, the following sections list the most important providers - both for trading cryptocurrency and for buying NFTs.

Buying cryptocurrencies for trading NFTs

You need the corresponding cryptocurrencies - such as Ethereum or Solana - to purchase and trade crypto NFTs. Nevertheless, before investing, you should verify which non-fungible token you intend to purchase, since some of the crypto NFTs can also be processed on the Cardano, Tezos, or Polygon blockchains.

To trade cryptocurrencies, it is advisable to work with a company that is regulated and licensed.
Crypto.com is among the most recommended crypto brokers according to the Coincierge comparison , as it was the most convincing of the providers tested.
Why Crypto.com? In particular, the simple user interface and the large selection of cryptocurrencies and the many accepted fiat payment methods were convincing compared to other Bitcoin exchanges .
Additionally, Crypto.com offers all the major NFT cryptocurrencies. Binance's NFT market is an alternative to this.
In the instructions " How to buy NFTs " below, we describe how you can finally purchase NFTs with these cryptocurrencies.

These 6 platforms are available for NFT purchase:

Several NFT marketplaces have sprung up since the NFT boom. There are a large number of NFT platforms available today, and it is almost impossible to filter out the most valuable ones.

Thus, we have selected the six most demanded, most original, and most used NFT platforms:

Crypto.com

Crypto.com is a prominent crypto exchange that is organized centrally. Providers entered the NFT market early and have a large selection of NFTs in various sectors.

A large number of artists, musicians, and NFT enthusiasts are using Crypto.com's NFT platform. On Crypto.com, you can also find NFT drops from Boy George, Boss Logic, and Snoop Dogg.

In addition, a number of payment methods are available on Crypto.com for the purchase of NFT. The use of debit cards and credit cards is also supported for deposits and withdrawals in addition to more than 20 cryptocurrencies.

Binance NFT

Binance is a leading cryptocurrency exchange with millions of customers. It is no surprise that the platform also responded to the hype surrounding NFT. By establishing the Binance NFT exchange, a decentralized market for non-fungible tokens was created.

It is possible that one advantage of the decentralized structure will be a higher degree of security. Moreover, the marketplace has a very high trading volume, which means that there is liquidity for new NFT projects.

Coinbase NFT

Additionally, Coinbase has launched its own NFT platform. Despite not yet having been released, there is already a waiting list of approximately 600,000 people.

It is therefore already being eagerly anticipated that the Coinbase NFT exchange will be available within a few weeks. There can be no doubt that Coinbase's NFT exchange will be one of the most convenient and best places to buy NFT on the internet. Coinbase, for example, has already announced that the new platform will be able to accept MasterCard payment for the purchase and sale of NFTs.

OpenSea

The OpenSea marketplace offers a broad range of digital goods, such as collectibles, gaming items, digital art, and other digital assets, which are traded via smart contracts on the Ethereum blockchain.

On its portal, OpenSea offers over 4 million digital products, including crypto collectibles, gaming items, digital art, and other blockchain-based items. The platform offers over 700 unique projects and enables artists to create their own NFTs in just a few clicks.

Rarible

Rarible is an NFT marketplace similar to OpenSea. It is also a platform for creating NFTs. So users can use their own content , a digital image or a moving graphic, go to Rarible and create an NFT .

Multiple NFTs may be created for a single image, allowing the seller to sell multiple times. Alternatively, you can only sell a single piece, which is then considered rare. Additionally, artists are allowed to set a percentage of lifetime resales that they will receive.

Buyers can acquire NFTs and assemble portfolios. There are those who create a personal portfolio, while there are those who see it as a store of value and a way to accumulate art.

Nifty Gateway

Founded with the purpose of making nifties as accessible as possible, NiftyGateway is a leading marketplace for NFTs, also referred to as nifties.

Every three weeks, the platform offers limited edition Nifties in drops in collaboration with artists and brands such as Steve Aoki, deadmau5, Beeple, etc.

The platform is available to anyone who wishes to participate. You can withdraw the tokens that you purchase on this site to your wallet or an external account by viewing them under your profile. Nifty Gateway also allows you to import Nifties from external wallets into your account.

How do I buy NFT? The following steps will guide you through the process:

You can use the following step-by-step instructions to get started and purchase your first non-fungible token if you have decided to invest in NFTs. There are 3 steps in the process:

STEP 1: First buy NFT cryptos like wBNB (e.g. via Binance or Crypto.com )
STEP 2: Then transfer the purchased wBNB to a MetaMask wallet
STEP 3: Then buy the NFTs, preferably via the NFT Launchpad

All three steps are necessary to fully answer the question "How do you buy NFT" and thus start the process from the beginning, whether via desktop computer or NFT app. Anyone who already owns NFT-compatible cryptocurrencies such as Ethereum or Solana can skip the first part of the instructions

How to buy NFTs? How to Buy Cryptos at Crypto.com

For the purpose of purchasing NFTs, you will need Ethereum, Solana, or one of the other NFT Cryptos. One of the best places to purchase BSC or Ethereum is through excellent crypto broker Crypto.com. The broker provides the opportunity to purchase cryptocurrencies without incurring any fees, with only a minimal spread.

How to buy NFTs? How to Buy Cryptos at Crypto.com

Estimated Cost

Estimated Total Time

5 min

What is necessary:

Ethereum, Solana, or one of the other NFT Cryptos

Tool: A NFT market.

Open a Crypto.com account

By filling out the registration form, you can create a Crypto.com account in the first step. Please enter a secure password and your desired user name. To indicate that you agree to the terms of use and the GDPR-compliant data privacy statement, please click on the two check boxes below. Clicking on the blue "Create account" button below will transmit the data and complete the account registration process.

Make a deposit

Users can now fund their Crypto.com trading accounts by selecting from a variety of deposit methods. There are no fees associated with the use of credit cards, PayPal. You can open the deposit menu by clicking on the "Deposit Money" button found below the navigation menu on the left-hand side of the screen. In the deposit menu, select the deposit method of your choice, enter the deposit amount, and complete the missing payment details. When you click on the Send button, the transfer is initiated and the funds are credited immediately.

Buy Ethereum, BNB or WBNB

Lastly, you are able to purchase Ethereum or other cryptocurrencies by entering Ethereum in the search bar at the top of the screen and clicking on the search result that appears to get to Ethereum. Tip: If you wish to use the new NFT LaunchPad, you should ideally purchase WBNB right away. This can be used to purchase NFTs directly from the Metamask wallet. In the absence of a Binance Bridge, cryptocurrencies from one blockchain will need to be converted into tokens from another blockchain.

Buy NFT tokens from NFT platforms - step-by-step instructions

If you have successfully purchased the cryptocurrencies required to purchase the NFT, such as Ethereum or Solana, you can now proceed to the next step: purchasing your own non-fungible tokens. Please refer to the following steps for further information.

Step 1: Sign in to Metamask

The most recommended wallet is Metamask because it serves as a connection between Crypto.com, eToro or Binance and the NFT platforms such as the NFT Launchpad. The simplest method is to obtain the app from the Google Play Store or the App Store, which also makes it easier for anyone to purchase NFTs through the app. The Metamask app is also available for Chrome, Firefox, Edge, and Brave browsers if you prefer to purchase NFT Art using a PC.

It is easy to register with Metamask, simply entering your username and password is sufficient. Additionally, you should be sure to write down the 12-word private key, save it offline, and keep it in an absolutely secure location, since this is the only way to restore your own wallet at a later date.

Step 2: Click to NFT LaunchPad

Interested parties may click on the NFT LaunchPad after successfully registering with MetaMask, the best platform to buy, trade and sell Crypto NFT. Registration is not required for use. You will not need your account verified initially.

Step 3: Connect Metamask to NFT LaunchPad

The NFT LaunchPad now needs to be connected to the Metamask account. You can connect your wallet by going to the NFT LaunchPad website and clicking on "Connect Wallet" at the top right corner of the page. It will open a window in which you can create the link to Metamask by clicking a few buttons.

Step 4: Send cryptocurrencies from a crypto exchange to Metamask

It is expected that the account balance at the NFT LaunchPad should be zero if the Metamask connection was successful. The next step is to top up your Metamask wallet with the cryptocurrency you wish to purchase non-fungible tokens.

It is possible, for example, to purchase an NFT on NFT LaunchPad that is based on the Binance Smart Chain after purchasing wBNB on Binance and then transferring that value to Metamask. This can be accomplished by copying the wBNB wallet address from the "Receive" field of the Metamask app and pasting it into the Binance wallet in the "Send" section.

Two things are important here:

If you want to send wBNB, only use the wBNB or Binance Smart Chain addresses in the Metamask Wallet. It is highly likely that any cryptocurrency sent to a BSC wallet address will be lost.
In order to purchase an NFT, the buyer must send a certain number of cryptocurrencies. It is recommended that you account for at least 10% to 20% more in this respect, especially in order to accommodate transaction fees, gas fees, and possible price changes.

Step 5: Buy NFT via the NFT LaunchPad

You can buy your own non-fungible token once the cryptocurrency has been sent to the MetaMask wallet. You may do this by using the search function on the NFT LaunchPad or by browsing the suggested offers. According to the NFT, the purchase is either conducted through an auction or through a buy-it-now option.

The tips listed below should be followed carefully. The risk of a total failure or an enormous loss in value is significantly reduced with NFTs, even though you may not immediately become rich.

What is meant by Non-fungible Tokens (NFT)?

In order to answer the question What is NFT?, let's take a closer look at the term. NFT stands for Non-Fungible Token, a type of unique digital asset whose ownership is controlled by a blockchain. Although most NFTs are digital in nature, they can also be used to track physical assets. Typical examples of NFTs are:

digital artworks,
in-game items in video games,
unique collectibles and even
own blockchain domain names.

A fundamental characteristic of each NFT is its uniqueness. While an originator may choose to have more than one copy of an NFT, each needs to be distinguishable. In addition to non-falsification and permanence, the blockchain also provides other benefits.

The Ethereum blockchain was originally used to manage the original NFTs. There are now several blockchain standards available to those interested in minting (creating) NFTs. In its simplest form, a NFT is simply a digital representation of something unique that a smart contract platform uses to prove its legitimacy.

NOTE: A blockchain token does not have to be unique in order to be recorded! Non-fungible, or NF, refers to not interchangeable. Tokens are most commonly used as cryptocurrencies, i.e. fungible tokens which are interchangeable and equa a bitcoin is the same as another bitcoin. A classic fiat currency is also fungible – each €5 note is similar in function and value to the next.

Even though we may not have called them by that name, non-fungible tokens have existed in the digital world for years. Domain names, for example, can be thought of as NFTs, since each domain name is unique. When you purchase a domain name, you become the owner of that specific URL. Those who purchase concert tickets acquire the right to a specific seat at a specific time. A popular example is also in-game purchases for smartphone games. Certain skins in the popular Fortnite game.

Up until now, selling these digital assets has been difficult because there are only a few difficult-to-use trading venues on the internet. Essentially, NFTs are a game changer due to the fact that tokens issued via the blockchain digitally certify ownership, and the tokens are easy to transfer via marketplaces in a matter of seconds.

Moreover, blockchain-based NFTs are unique, which gives them their value : information contained in one NFT will always be different from information contained in another, even if they appear similar on the surface.

Key milestones since the inception of NFTs

It has only been since mid-2020 that non-fungible tokens have been developed on the blockchain.

In 2012, colored coins were introduced to the Bitcoin blockchain. Using a scripting language, this made it possible to add special attributes to certain bitcoin shares, but this feature was somewhat limited.
In June 2017, LarvaLabs launches its first digital art project using the Ethereum blockchain, promoting the development of the ERC-721 standard. Larvalabs created 10,000 unique ERC-20 tokens, each looking different from the other - the 'digital punks' were obtainable for free, so the tokens were quickly seized.
In September 2017, Ethereum published the non-fungible token standard (ERC-721) to the public on December 23, 2017. This standard has essentially governed the development of all non-fungible tokens to date.
In October 2017, the famous CryptoKitties, which were issued on the Ethereum blockchain, were a scandalous success. Over $100,000 USD were raised for just a few digital cats, at the same time the Ethereum blockchain became completely overloaded with transaction activity.
In January 2021, NBA Top Shot begins issuing NBA trading cards, generating more than $500 million in revenue within the first quarter of the year.
In February 2021, traditional auction house Christie’s is set to auction a collection of digital works by digital artist Beeple for a record-breaking $69 million in Ethereum.
In March 2021, Jack Dorsey sells his first tweet as an NFT. The highest bid is over $2.9 million.
In August 2021, a new monthly record was set for the number of NFTs sold worldwide. Volumes for the month totaled $5 billion, and for the quarter more than $10 billion.
Oct. 2021: Some NFT participants are getting strange ideas. The NFT was sold for a record $532 million to itself. The real question is whether it was a publicity stunt or a clumsy attempt to manipulate the value.
In December 2021, an NFT is expected to set a new sales record with 91.8 million US dollars. As an entire collection was sold to different buyers for that price, it is debatable whether it counts as a single NFT sale.

How does the NFT Crypto sector affect the market?

NFT hype and the rapidly developing NFT sector are significant developments for the crypto market as a whole, which could strengthen the entire blockchain ecosystem. The scene must, nonetheless, avoid a similar tulip mania as that experienced during the ICO hype at the end of last year, which could have irreparable consequences.

NFTs bring attention to crypto and entrants.

First and foremost, the NFT sector is a headline-worthy, difficult-to-read trend that has lured millions of people into the crypto scene, an area that may be unfamiliar to them.

The fact that Kings of Leon have sold their album as an NFT, Christie's have sold digital art, or LeBron James have sold a video for $208,000 makes the news. The attention received by this industry can bring millions of new investors and investors into the crypto market who need to acquire cryptocurrencies such as Ethereum in order to purchase NFTs.

In an effort to fulfill the long-held promise of the crypto scene, reaching and transforming new industries.

Another potential for the crypto scene is that users can influence entire industries through sustainable change. It is possible that the art and music industries, in particular, could be turned upside down if more and more artists decide to sell their artworks or pieces of music electronically through NFTs instead of through institutions or record labels, as they have done in the past.

In one hand, this gives artists greater control and opportunity to monetize their work, while in the other hand, art lovers can experience their passion in new ways, directly supporting their favorite artists without having to go through the influential intermediaries, such as record companies.

It has already been seen in the sports industry, where individual athletes or sports teams have taken advantage of the NFT train and published historical sports moments or recordings in digital format as NFTs. NFTs have also been distributed to invite individuals to meet & greet with sports teams. New opportunities are provided to athletes and teams to monetize media exposure, putting them in direct competition with previously almost omnipotent media companies. Depending on their contract with sponsors and clubs, individual athletes may be entitled to media and marketing rights.

As a result, all of these examples illustrate that NFTs will assist the crypto scene in fulfilling some of the promises that have been made since the beginning: with NFTs, artists can finally have more control over their works and a larger share of the profits from their work. Rather than relying on middlemen, a peer-to-peer connection is established between art lovers and athletes or artists. So to speak, decentralization “ at its best ”

Ethereum continues to gain popularity.

In spite of the fact that the NFT topic affects the entire crypto scene, the majority of NFTs have been issued as ERC-721 tokens - the explicit NFT token standard on the Ethereum blockchain.

The hype surrounding NFTs strengthens Ethereum in two ways: first, the Ethereum blockchain is used for transactions, so the transaction fees are paid in ETC, and second, the NFTs themselves are paid in ETC.

Some other blockchains, however, are also seeking to end Ethereum's dominant position in the NFT space. Likewise, the now smart contract-enabled Cardano blockchain saw its first NFTs, and the rapidly developing THETA blockchain has exclusive rights to issue NFTs for the World Poker Tour.

The hype surrounding NFT has the potential to harm the reputation of the crypto scene.

NFTs offer a great deal of potential, but also pose some risks to the crypto market. After barely recovering from the consequences of the ICO hype and its disastrous end in early 2018, the entire public discussion about cryptocurrencies appears to be dominated by a new hype that could lead to another bubble and ultimately a painful, financially devastating end.

A simple summary of the situation would be that the NFT hype is enormous, and that there is a risk of a NFT bubble or that we are already experiencing one. This may result in financial losses and considerable reputational damage to the entire crypto scene if millions of people invest their hard-earned money with euphoria, but the NFT bubble bursts a little later.

In other words, the NFT bubble may cause cryptocurrencies to be affected as well, at least in the short to medium term before the bubble recovers.

What can be traded with NFT?

A NFT can be used to trade virtually any type of object, event, or item. There is practically no limit to the variety and applicability of NFTs. There are a number of examples, but this is by no means an exhaustive list.

Video games feature virtual items such as skins, virtual currency, weapons and avatars, music, collectibles (e.g. digital trading cards), blockchain domains, virtual land, and video footage of iconic sporting events. In addition, tokenized real-world goods are also in high demand, ranging from real estate to racehorses and designer sneakers.

Fact check – did you know?

Since the beginning of 2021, the NFT boom has swept the crypto scene like a wave, but many users remain unaware of the technology. The most important details are:

Value uniqueness: NFTs are unique tokens, of which there is only one. NFTs are digital assets that are permanent, non-replicable, and unforgeable. These properties also result in its value - a unique collector's item.
Newcomers with a strong reputation : Since the start of 2021, the NFT boom has been fuelled primarily by well-known names such as Christie's, NASDAQ, or celebrities such as Shawn Mendes and LeBron James, who published their first NFT.
A variety of industries: NFTs are used in a variety of industries, especially by artists, musicians, and athletes who want to capture unique moments, videos, or works of art.
Token standard ERC-721: The majority of NFTs are based on the Ethereum token standard ERC-721, which was introduced in January 2018 for non-fungible tokens. The Ethereum blockchain allows for the issuance of unique tokens.
The Ethereum blockchain is dominated by ERC-721 tokens, which means that many NFTs are currently issued via the Ethereum blockchain, thus requiring Ethereum as a payment method.

Pros and Cons of NFT Cryptos

advantages

Increased adoption of Ethereum and cryptocurrencies
(Digital) collectibles are more easily tradable
A verification of the ownership of an asset that is unfalsifiable and unique
Decentralization of the arts industry and opportunities for income for artists

Disadvantages

NFT standard ERC-721 still quite new
NFT hype could lead to bubble development
Low liquidity or tradability for many NFTs

Which cryptocurrencies can be used to buy NFTs?

It is natural to ask how and with which currency to purchase NFTs now. To date, it has been much more difficult to purchase NFTs than to trade cryptocurrencies. There is a large number of NFTs that can only be purchased using one of two cryptocurrencies, namely either BNB or ETH. Depending on the NFT you wish to purchase, you may select one of these cryptocurrencies. Nevertheless, the majority of NFTs have been issued via Ethereum or BSC blockchains.

You should prepare enough BNB or ETH tokens to trade NFT if you wish to do so. The second reason is that the transaction fee must be paid in the respective cryptocurrency for the transaction, i.e. the transfer of NFT to your personal wallet (inclusive of the so-called gas fees). On the other hand, the actual payment for the NFT purchase itself is only possible using the corresponding cryptocurrency ( such as the Lucky Block NFT that utilizes the Binance Smart Chain, for example).

This principle, however, is subject to a few exceptions. The NFT platforms are based on their own proprietary blockchains, so you are able to use their own token in order to pay. Games and gaming-related NFTs are particularly susceptible to this.

Future predictions for NFT tokens

An individual considering purchasing the NFT today would certainly want to gain an understanding of what an NFT forecast might look like. Presently, it is very difficult to predict how the NFT sector will develop in the upcoming months and years. It is evident that the potential is immense, but the scene is still in its infancy, and things are currently a bit chaotic.

Currently, we are in the middle of an unbroken NFT boom, which some critics have already described as an NFT bubble. There has been an explosion in the number and variety of NFTs on offer over a short period of time, which has resulted in some NFTs being overpriced.

The current bubble will likely continue for some time until the inevitable point is reached when the resulting NFT bubble bursts. If it turns out that certain NFTs are being sold at inflated prices and that there are no repeat buyers willing to pay for them, the prices of some NFTs can collapse.

There will certainly be a lot of negative media coverage when the NFT bubble bursts. In fact, all of the magazines and news outlets that are currently sensationalizing the hype to garner readers' attention will soon be reporting on the almost insatiable greed of the market as if they had known it all along.

Nevertheless, intelligent NFT traders and NFT investors need not be concerned by this fog. The NFT market is in need of a certain level of cleansing, which will show in which industries or what types of NFTs (e.g. in-game items, music, digital art, etc.) NFTs are popular and make sense, and in which cases NFTs are less appropriate.

The future of NFTs is bright outside of this bubble. Arts and sports industries, and the industries that support them, are likely to change in favor of individual artists and athletes. Through the use of social networks and their own NFTs, a direct relationship between stars and fans will develop, while intermediaries continue to be marginalized.

Hence, at this point in time, we are unable to recommend nor discourage the purchase of NFTs. Whether a NFT will succeed or fail really depends upon the individual NFT.

Nonetheless, it is not possible to make a concrete forecast regarding the value of NFTs, as this is largely dependent on the characteristics of the NFTs themselves. Traders should pay attention to four characteristics of an NFT before selecting one, which will be discussed further in the next section.

Four points to consider before selecting an NFT

A trading in NFTs is a delicate undertaking that is more risky and unique than a trading in cryptocurrencies, which is already a risky undertaking. Therefore, we have outlined four important tips for future NFT traders.

An NFT or the underlying issuer should possess these characteristics.

1.) It is vital that the NFT be issued by a reputable entity.

An NFT's issuance company is of great importance, after all, you are getting a piece of this company, this star, or this brand when you receive the NFT. A buyer should ensure that they purchase only an NFT from a well-known company. This will enable them to assess the market value of the NFT more accurately, and will also enable them to trade the NFT more easily. Additionally, this increases the likelihood that the NFT will appreciate in value over the long run.

2.) The NFT should be truly unique and innovative.

A NFT should ideally be the first of its kind, either of a celebrity/brand or even a particular industry or niche. The NFT's unique selling proposition is what gives it its greater value. It is these points that make it unique.

3.) The NFT must be tradable, i.e. encounter ongoing market demand.

It is important to own a tradable NFT for which there is active demand, even if you have purchased an NFT with the intention of keeping it for a long period of time or permanently. If the token is illiquid, you are stuck with it. In an urgent situation, this can be a significant problem.

4.) The NFT should correspond to a physical asset.

We encourage readers to prioritize non-financial transfers (NFTs) on physical goods rather than on digital artworks, which have sold for millions of dollars. This section allows you to determine the current value or future value development, or, more precisely, to present it more clearly. Specificity is of the utmost importance. An original work of art is better kept in a safe than only be able to view it in a digital format on the computer.

Will NFTs make you wealthy?

It is certainly possible - however, only if you have the right level of foresight, follow a well-considered strategy, and make investments that are in line with your financial situation.

As a result, traders should adhere to the above tips. You should also consider the roadmap of the NFT development team, the areas of application of the non-fungible token, as well as the community behind the token if you intend to achieve long-term success with NFTs. A NFT's ability to achieve long-term success requires all three properties.

Furthermore, before purchasing your first NFT, you should read as much as possible about the subject and take a close look at the various NFT collections. There are many other sources of information available on Coincierge.de, for example detailed explanations of individual NFT collections. Axie Infinity, The Sandbox and Splinterlands are the three most important NFT types.

Which NFTs to buy?

It is essential to conduct this type of research when deciding which NFTs to purchase. A significant increase in the number of collections, suppliers, and variants has been created as a result of the NFT boom of recent years, of which only a fraction is valuable and will gain in value in the future.

New entrants to the NFT sector often ask, Which NFT should I purchase?. There is no one-size-fits-all answer to this question. The following suggestions are important: pay attention to the background, question the application, examine the community, and review your own investment strategy. Particularly if the collection is from an established NFT designer, it will be a bit more expensive, however it will reduce the risks of a scam or a total loss.

Among the possible NFTs are the new Lucky Block NFT and gaming NFTs such as Alien Worlds NFTs, Mobox NFTs and Gods Unchained NFTs, which already have a history. Many different factors determine which NFTs are worth purchasing, so everyone must answer this question for themselves.

FAQs

What is an NFT?

A non-fungible token is one that exists only once in exactly this form, i.e., a token that is completely unique and cannot be duplicated. NFTs are therefore suitable for a wide range of use cases where issuance of unique items was previously only very time consuming or expensive.

Can you get rich with NFTs?

Yes, you can. This, however, isn't something that can be achieved overnight, but rather requires a high level of knowledge that can be acquired through reading and learning.

How to buy NFTs?

NFT compatible cryptocurrencies can be used to purchase NFTs. You should then send these to an NFT compatible wallet, which can be used to purchase NFTs on NFT platforms. In the article, NFT wallets and NFT platforms are discussed in more detail.

Where to buy NFTs?

The largest NFT marketplace is OpenSea.

Can you buy NFT on Bitpanda?

Bitpanda does not offer NFTs, so NFTs cannot be purchased from Bitpanda.