For the past few years, cryptocurrency has been all the rage. Exciting new cryptocurrencies were dropping monthly, and the chance for investors to get rich was very real.
But the market has shifted dramatically in the past year with the rise of NFTs. The value of the NFT market has recently hit more than $41 billion.
NFTs are unique tokens on the blockchain, similar to crypto tokens.
But they are non-fungible, meaning you can’t swap them one for another like you can with dollars or bitcoins.
To shop for NFTs, you’ll use an NFT marketplace. Buying NFT marketplace art is a bit more complicated than buying crypto, as there is a very important added step that confuses most people.
If you’re interested in getting in on the next wave of crypto technology, and the future of art, then keep reading below to learn about buying NFT art today.
What are NFT marketplaces?
NFT marketplaces are where you can buy and trade NFTs. They are websites that allow many different artists and creators to sell their work.
And not only do creators sell their work for the first time, but collectors can resell and NFTs they have. In a way, NFT marketplaces are kind of like eBay or Amazon.
And each marketplace will have a different focus.
For example, you can find great NFT art by some of the top artists on Superrare. This platform focuses on quality artists and limits who can sell on their platform to maintain certain standards that benefit collectors.
OpenSea on the other hand allows anyone to sell NFTs. While it’s the most popular platform, it’s overrun by junk and scammers, so be careful what you buy.
How to Buy NFT Marketplace Art
So how can you use an NFT marketplace to find the best NFT art and add it to your personal collection? You’ll start out by purchasing cryptocurrency.
If you don’t already have an account at a crypto exchange like Coinbase or Binance, you’ll need to create one. This takes time, as you’ll need to include lots of personal information including your social security number and photo ID.
Once approved, you can transfer cash to your exchange account. Usually, bank transfers can be done without fees. Using a debt to buy crypto often incurs extra fees.
More than likely, you’ll want to buy Ethereum. The Ethereum network is where most NFT artists and collectibles live. However, alternative NFT blockchains are on the rise, including the likes of Solana and Tezos.
Set Up a Browser Wallet
The final step in the purchasing marketplace art process is the most confusing for new NFT collectors. You need to set up a browser-based crypto wallet that can connect to various NFT marketplaces.
Most NFT collectors use MetaMask, which is free. Creating a wallet is quick and simple after downloading the extension to your favorite web browser, like Google Chrome.
Once it’s set up, you’ll transfer your Ethereum to your browser wallet by initiating a transfer at your crypto exchange.
With ETH in your wallet, you can visit an NFT marketplace, connect your wallet, and purchase a cheap or expensive NFT as you please.
Start Collecting NFT Art Today
Most people still haven’t gotten into NFTs. But it’s the early adopters who will be rewarded for getting in at this time.
Now that you know how to buy NFT marketplace art, it’s time to go shopping. Find your favorite NFT artists or collections and start building out your personal collection.
Looking for more NFT tips and tricks? Visit our blog now to keep reading.
Also Read: What is NFT? How does NFT Work? How do you Buy NFT? What are NFTs Used For?
