Where to Buy & Sell NFT

 Where to Buy & Sell NFT

Finding the optimal NFT platform: the most important tips

If you want to buy non-fungible tokens, you need the right platform. There are now dozens of them, with clear differences. The most important include:

  • OpenSea
  • Nifty Gateway
  • Mintable

What makes them different and why OpenSea is one of the best all-round solutions for trading NFTs can be found here.

The differences in the NFT platforms are mainly in the level of costs, usability and payment options.

Buy cryptos and trade NFTs now

OpenSea: trading with NFTs possible since 2017

This NFT platform was founded in 2017 and works with the wallet MetaMask, for example. It can be held with NFTs based on the Ethereum blockchain, especially ERC721 and ERC1155. Registration works without any problems and is free of charge. Buying or selling on the NFT platform can be done without special authorization.

In order to be able to buy NFT, ETH is usually required, which can be purchased or exchanged in advance with Fiat money. With OpenSea it is also possible to acquire non-fungible tokens via auctions. However, there is one special feature to consider here: Each new bid must be at least 5% higher than the previous one. The auction goes on until the seller closes it and is happy with the price.

OpenSea particularly flexible for NFT trading

Buying or selling NFT is very flexible and that is exactly why this platform is so popular. If you wish, you can purchase individual tokens, several of the same work or a series on the NFT platform.

Zu Binance

SuperRare: the more complex NFT platform

If you want to buy non-fungible tokens and take on comparatively little effort, you should better not be active at SuperRare. In order to register, an initial meeting with employees of the platform is necessary. It is about verifying the authenticity of the works and only when this is done are users released for their commercial activity.

Another difference to OpenSea: Here, individual works and not complete series are offered for sale. Registration is via MetaMask to participate in the auctions. Payments are processed via ETH. Here, too, there is a clear difference to OpenSea, because the cryptocurrency is the only permitted means of payment.

Retentions on the NFT platform

SuperRare is also very specific about retention for artists. In terms of sales, it is 15% on the primary market, 10% on the secondary market. If you want to buy NFT, you have to pay a fee as a collector for submitting the bids. This can amount to around €40. Anyone who does not win the auction still pays the fee to the Ethereum blockchain and thus loses it even if the auction is not won.

NFT platform Mintable presented

This NFT platform has a special feature to OpenSea and SuperRare: Not only the NFT standard can be used here, but also Zilliqa. The platform was founded in 2018 and there was a milestone in 2021: the well-known Mark Cuban appeared as an investor. If you want to sell on the NFT platform, you have to calculate a fee of 2.5% to 10%.

Mintable recently had a twist, as it even sold the physical work of Baranoff Rossiné (20th century). The NFT is also for sale.

Nifty Gateway: You can also buy NFT with a credit card

Compared to the other platforms, Nifty Gateway surprises with a special feature: Non-fungible tokens can also be bought here with a credit card. In order to be able to buy NFT, however, a wallet is also required, whereby MetaMask is again primarily supported. To make it even easier for users to buy non-fungible tokens, transactions are also possible with Fiat currencies. For those who want to sell NFTs, there is also an interesting piece of information: the monetization will be paid out in USDC stablecoin.

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NFT platform Rarible in focus

Rarible is another way to buy or sell NFT. The platform was only founded in 2020 by Alexei Falin and Alexander Salnikov. Particularly exciting: it is an open-source NFT marketplace where any user can easily buy or sell non-fungible tokens. As usual, transactions are processed using Ethereum blockchain technology.

Focus on art and collectibles

This NFT platform specializes in virtual collectibles and art. It is particularly popular because of its usability in the NFT minting process. This makes it ideal for anyone who does not have extensive programming knowledge. In this way, artists and creative people can make their offers available on this NFT platform with little effort.

Rarible even has its own token

There is another special feature at Rarible: in 2020 the governance token was introduced in the NFT area. "RARI" is a real surprise, because the price has increased tenfold since the beginning. The token was created to allow the Rarible community to participate in voting on platform upgrades and to help shape the future. However, users cannot buy the token, they can only earn it by participating on the NFT platform.

The future of NFTs: Binance also wants its own NFT platform

More and more users want to invest in NFT . In the meantime, the number of platforms has increased enormously and real giants on the market are also discovering the NFTs for themselves. The renowned crypto platform Binance, for example, announced at the end of April 2021 that it wanted to launch its own NFT platform. In the future, it should be possible to trade photo collages, pieces of music, paintings and other creative and artistic digital content.

The sale by the auction house Christie's in March 2021 showed that NTFs are no longer a flash in the pan, but can actually generate millions in sales. At that time, a digital portrait was auctioned for around €58 million.

In the future, own production will also be possible via the Binance NFT platform

So far, users can mostly buy or sell NFT. The option of producing the NFTs yourself via the same platform is usually missing as a hybrid function. According to the company, Binance wants to change that. Not only trading, but also your own production should be possible via the NFT platform. For the trading service, fees of 10% per NFT sold are to flow to the platform. If you don't want to sell non-fungible tokens, but want to produce them yourself, you have to expect a one percent commission for trading. The authors also receive a one percent commission/work.

How NFTs are created

With the right NFT platform, no extensive programming or cryptocurrency knowledge is required. However, if you want to sell NFTs on the marketplace, you need:

  • Ethereum-Wallet
  • Ethereum

The wallet must be linked to the NFT platform. Most platforms charge fees for converting NFT content, so a small amount of Ethereum is also required to cover costs.

Create digital art file

In order to sell anything on the NFT platform, the digital art file must be created. This is possible as a JPEG, but other file options (e.g. PNG or MP3) are also possible).

Offer NFT for sale

Depending on the platform you choose, the sale will involve more or less effort. Experience has shown that uploading the digital content is just as easy as uploading a YouTube video. Before other users can buy the NFT, individual settings can be made, for example:

  • Should it be unique?
  • Should it be part of a collection of several digital objects?

In addition, the price can be set. Everyone can decide for themselves the conditions under which they want to sell.

Transactions on the NFT platform

If the NFT is listed on the marketplace, you have to wait and see. If you have stopped buying at a fixed price, you have to wait until someone is willing to pay this fixed price. The auction format is different. Similar to eBay, users can buy NFT here and increase it. If the seller is satisfied with the price, he ends the auction.

How much does it cost to create NFTs?

Although NFTs can be created comparatively easily, there are fees involved. Since the deposit is made on the well-known Ethereum blockchain, a “gas fee” is required to process the transaction. Depending on the NFT generated, the fee may vary. When calculating the sales price, users should always take into account that this fee is included.

How many NFTs can I create?

Is there a limit to how much digital content I can offer on an NFT platform? No, everyone has the ability to generate unlimited NFTs and put them up for sale. It is important that there is sufficient ETH for the "gas fee" in the wallet to process the transactions of the blockchain.

Not just our creativity: NFTs are also becoming more common in gaming

The NFTs are experiencing real hype for collectibles and art objects. However, they have been around in gaming for a little longer. For example, Decentraland offers the possibility for gamers to exchange their shares in virtual land or other NFT items.

Gods Unchained is one of the most well-known card games and also uses the NFTs. Here the cards are exchanged digitally and 100% securely. Since all cards are unique (written in the blockchain), there is no risk whatsoever when exchanging cards.

My Crypto Heroes is a particularly interesting multiplayer role-playing game because it pays out rewards or items in the form of the NFTs on the Ethereum blockchain.

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