I know you must have heard about NFTs by now. Your favourite rapper, musician, athlete and influencer all buy NFTs, some even sell NFT. Before we go further, you can check our article “what is an NFT?” for better understanding of NFT meaning.
How to invest in NFTs?
1. NFT Drops or Mint: This is the most common way of investing in an NFT. The term NFT Drops refers to a process where a decentralized wallet is connected to the website offering the NFT. The wallet user then interacts with the website, inputting the amount of NFT to be minted and the total cost is calculated either in ETH, USDT, BNB or SOL depending on the blockchain, next user will be prompted to confirm the transaction which signifies exchanging your crypto for the NFT in order for the NFT mint to go through.
NFT Drops can also be for free depending on the project. The popular CryptoPunk NFT were once given for free to anyone that could claim. All the user needed in this case was to pay the transaction fees for the NFT mint to go through.
2. Buy from an NFT marketplace: If you want to invest in NFT today, an NFT marketplace is the easiest way to make that possible. These NFT marketplaces include OpenSea, Rarible, NBA Top Shot Marketplace, Ghost Market, etc. With the growing interest and exponential growth of NFTs, marketplaces have continued to gain more popularity within and outside the cryptocurrency community.
3. NFT Airdrop: NFTs can be given in form of an airdrop to users based on predefined conditions but in this context we will limit it to holding the cryptocurrency or a previous NFT of the project offering the airdrop which qualifies users for the NFT airdrop.
Conclusion
We have come to the end of our article for today and we believe from these three steps highlighted you can conveniently start your NFT journey. You can reply this article with your questions and suggestions.