Even though DappRadar estimates that NFT sales hit $25 billion in 2021, many individuals are still unsure of where and how to buy NFT art. To see that the buzz is justified, one need only consider the exquisite Beeple work titled “Ocean Front,” which fetched a whopping $6 million at auction.
No matter if you’re an aspiring digital artist, a seasoned trader, or just interested in the “buzz,” this article will walk you through the steps of purchasing your first NFT.
How To Buy NFT Art: Top NFT to Attain in 2022
Our NFT calendar highlights upcoming collections. Which has the most value and benefits? The Platinum Rollers Club series from Lucky Block could be the greatest NFTs to buy in 2022.
This collection will include 10,000 Binance Smart Chain NFTs. These NFTs are appealing because they enable entry to Lucky Block’s daily NFT jackpot draw, which has an estimated $10,000 prize pool. If you’re one of 25 people who get a ‘Rare Edition’ Lucky Block NFT, you’ll win double the jackpot.
Each NFT can really be produced for $1,500, but the possibility for value gains on the second-hand market is huge, given there are approximately 43,000 LBLOCK holders. The debut of the LBLOCK coin in January 2022 was accompanied by a 50x price spike in just a few weeks.
The Platinum Rollers Club NFT release is coming soon, so join the Lucky Block Telegram channel for updates. The group has over 41,000 registered members and it is the best method to be informed when the NFT collections become public, so you don’t miss out on these elevated items. Moreover, traders can also get connected with consultancy trading bots like crypto robo too for effective purchases.
The Buying and Selling of NFTs
Remember that NFTs can only be purchased using cryptocurrencies, rather than with your debit card. OpenSea is the leading marketplace, and the majority of transactions on the platform are conducted in Ethereum, making a cryptocurrency wallet a prerequisite for participation. SuperRare, Nifty Gateway, & Rarible are some of OpenSea’s current rivals. Both Coinbase Wallet, as well as MetaMask, are widely used as bitcoin wallets.
Begin using OpenSea by logging in and linking your cryptocurrency wallet. You can view all of your NFTs in one place by going to your Profile. A person’s profile can be used to monitor their preferred NFTs and market behavior. Your profile page will also display any currently open listings as well as any offers you have received.
Now that you have the necessary resources, you can shop around the market. Some ads will have a Buy It Now button, while others will let you make a proposal to the seller. Select Make Offer and enter the maximum price you’re willing to pay along with an end date. As soon as the trade is finalized, the NFT will be deposited to your account and may be viewed in the “Collected” section of your profile. OpenSea charges a 2.5% fee on all marketplace purchases.
Visit your Profile and select the NFT you’d like to release on the market. In the upper right corner, click the blue “Sell” button. Select Fixed Cost if you wish to set the selling price at the outset, or Timed Auction if you’d rather have potential buyers compete for your NFT.
In order to list your first item with OpenSea, there is a one-time fee required just like any other trading bot lets say crypto robo. A gas fee is a cost associated with processing a transaction on the Ethereum network. It is the responsibility of the seller to cover the cost of the gas if they accept an offer made through an NFT. In the case of sales at a set price, the additional expense must be borne by the buyer.
The Bottom Line
New Financing Technologies (NFTs) provide opportunities for everyone from aspiring digital artists to seasoned traders. This primer should have given you the assurance you needed to buy your first NFT and start reaping the benefits of NFT investing. While it’s admirable that you want to purchase NFTs to show support for your favourite musicians or gain entry to exclusive Discord servers, you should still take the time to learn as much as possible before making a purchase. Be sure you know exactly what it is you’re purchasing. Getting in over your chest financially is a common result of investing recklessly in the hope of a big return.