Want to learn how to buy an NFT? [Easy Guide]

Although NFTs are like a piece of art, NFTs have many more benefits when it comes to buying them. If you are familiar with them, you will know that one of the main advantages they have is their security. This is thanks to the fact that the NFTs are stored in a blockchain, which prevents any type of fraud or theft.

And yes, one of the requirements to have an NFT is to have a wallet. What is a wallet? It is basically an online wallet where you can store your NFTs, and also your cryptocurrencies. And speaking of cryptocurrencies, you also have to know that the NFT market moves with cryptocurrencies. This means that to buy and sell NFT art, you have to use cryptocurrencies.

And do not think that all these are obstacles to buying NFTs, in fact, it is the main reason to buy them. Thanks to all these security systems, NFTs are the best way we have to verify the ownership of art.

Now that you know the basic requirements, it's time to go to the NFT market. NFT marketplaces are platforms created specifically to buy and sell NFTs. One of the most important features is transaction transparency.

If you enter any marketplace, at least the ones that are reliable, it will show you all the information of the NFT transactions. You can see things like the name of the buyer, the amount the NFT was purchased for, and the exact dates the transaction was made. As a buyer of NFTs, you have the benefit of security on your side.

If you want to know more, visit our article about NFT marketplaces.

Once you know the NFT marketplaces, it is time to choose what type of NFT you want. There are different types of NFTs, below we will show you what they are and their characteristics:

Collection NFTs

You've probably already heard about the Bored Apes. This is a collection of more than 10,000 similar NFTs, but with different characteristics such as outfits, accessories or colored backgrounds. These NFTs are probably one of the most famous in the entire NFT market.

And there are many more such collections on the market. Most of these collections consist of the same thing, NFTs that are very similar, but have characteristics that make them unique.

These NFTs are the fastest to go up in value, as if one NFT in that collection becomes famous, the other NFTs in the same collection could go up in value as well. And in this way, each NFT will contribute to the value of the collection.

1 of 1 NFTs

This type of NFT is the complete opposite of Collection NFTs. These NFTs are the ones that were created to be totally unique, without having a group of similar NFTs.

As it is not part of a collection of NFTs, all the value depends only on this NFT. Still, there are many NFTs of this type that have great value in the market.

Gaming NFTs

These NFTs are the ones that have origins in a video game, usually NFT games. NFT games are online games where you can earn rewards in the form of NFTs, such as characters or items. In these games, you can directly send these NFTs to your wallet, allowing you to sell them.

These NFTs are interesting because they can go up in value, either because it becomes valuable to the players of said NFT game, or simply because it becomes very difficult to obtain.

Also, many of these types of NFTs can be obtained for free as they are obtained by completing specific tasks in the NFT game.

Art NFTs

These types of NFTs are the ones that are created to be sold as pieces of art. These NFTs are created by artists, from painters, sculptors and even digital artists.

In fact, the most expensive NFT in history is an Art NFT. It is called “Everydays: the First 5000 Days”, it was created by the artist Mike Winkelmann, known as Beeple. This piece of art was sold for $69.3 million dollars.

If you are an artist and want to sell your art pieces in the form of NFT, we show you how to create an NFT art.

Many people confuse the terms NFT and “NFT Tokens”, but actually NFT means Non Fungible Tokens. So it is the same to say NFT or NFT Tokens.

Ok, enough of theory. Let’s dig into the practical information, on how to buy your NFTs on the two most popular marketplaces:

• OpenSea
• Crypto.com

OpenSea is a marketplace solely for NFTs, and is the most popular platform in the NFT community. OpenSea is based on the Ethereum blockchain network, and all transactions will be made using the ETH cryptocurrency.

Steps to buy NFTs on OpenSea:

1. First of all, you have to have a wallet created. You can create an account in any wallet that handles Ethereum. One of the most popular is MetaMask.
2. When you have created your wallet, you will have to deposit money so that you have funds in that wallet and you can change ETH, which is the currency that will be used to buy NFTs.
3. Next, you will need to create an account with OpenSea. In this process you will have to link your wallet to your OpenSea account.
4. Now it's time to buy an NFT. Choose the NFT that most catches your attention and click on it.
5. When you are in the profile of the NFT, you will be able to buy it or make an offer. The difference between these two is that if you buy it, you accept the price that the holder of the NFT has put on it. If you make an offer, you give another price option for the NFT holder to accept.

If you remember, we mentioned the artist named Mike Winkelmann, also known as Beeple. This was the first artist selling an NFT for very big numbers through art bidding he managed to sell ”Everydays: the First 5000 Days” for $69.3 million.

He is also creating many works of art in the form of NFTs. If you want to buy one of them, the only way to do it is through the OpenSea platform, since it is the platform where he sells his work.

You can visit his profile as Beeple.

PolygonPunks is a collection of 10,000 NFTs. This collection was the first and largest on the Polygon blockchain. This is why they have a high value in the market, especially in Polygon Marketplaces.

The best PolygonPunk you can buy is the cheapest one. The reason for this is that, given the value and popularity of these NFTs, it is very likely that low-value NFTs will go up in price.

As we already mentioned, the best NFTs you can buy are the cheapest ones, as they are the ones that have the potential to go up in price and give you a profit. There are several ways to find cheap NFTs.

You can search for collections of NFTs and buy the cheapest NFT from that collection. In this way you can have much more profit if said NFT collection goes up in price.

You can also search for new projects. When there are recently launched projects, NFTs usually have a very low price. Do your research and, if you believe that this project has a future, bet on buying from its cheapest NFTs.

We have already explained how to buy an NFT. Now we will show you how you can sell your NFTs.

There are two ways to sell an NFT. The first is by buying one at a low price, and selling it at a higher price. And the other is to create your own NFTs and put them up for sale.

The first way, buying and selling an NFT, is to obtain an NFT on the market and sell it to someone else. You can set a fixed price or accept an offer made by someone else. You receive the money at the time of the transaction, and that's it.

The second is more complicated, but gives more benefits. If you are an artist, and you have already thought about what pieces you are going to convert into NFT, you just have to start the registration process. This registry is called “Mint”, and it is the way to convert your works to NFTs. We explain this better in our How To Mint An NFT article.

Once you have your NFT registered, you can start selling it as a creator. As a creator, in addition to receiving the money from the first sale of your NFT, you will also get lifetime commission from these transactions.

What does this mean? This means that if the person you sold the NFT to sells it to someone else, a small percentage of the price your NFT was sold for will be transferred to your account.

Can you imagine the commissions you would earn if you had a collection of thousands of NFTs?