In the year 2021, Non-Fungible Tokens (NFTs) became popular, with pictures of apes and pixelated “punks” taking over the timeline in just a few weeks. People began investing millions of dollars to buy their own NFTs and research the best NFT stocks to buy. Celebrities such as Jimmy Fallon, Jay-Z, and Justin Bieber have purchased NFTs and showed them on Twitter, increasing demand for this new limited-edition tokenized art.
So, are you saying that you’re trying to enter the NFT market? If so, there are two ways to go about it: either create your own NFTs or buy some of your favorite ones. But what is an NFT token, and how did they appear so suddenly? Like with any other investment, before deciding which NFT to buy, you must first learn how NFTs work, how to buy NFT tokens, and the best NFT to buy, so start learning more about this craze and how you can get started in this guide.
Table of contents
What is an NFT Token?
A non-fungible token (NFT) is a data unit that cannot be traded on a blockchain. However, to store digital goods such as photographs, videos, and music, a variety of NFT data units can be used. NFTs differ from blockchain-based cryptocurrencies like Bitcoin in that each token can be identified individually.
How Do NFTs Work?
So, what are the similarities and differences between NFTs and cryptocurrencies, and are they the same? No, not at all. Unlike fiat money such as the US dollar or the Euro, a cryptocurrency is a digital currency that exists on its blockchains (in the digital domain) and cannot be physically touched.
On the other hand, an NFT is a “non-fungible token” or currency. This word refers to the fact that the token in question is unique and cannot be replaced or owned by two people at the same time. For example, with USD, $1 will always be $1, and you can exchange two banknotes at the store for the same amount of money. The same can be said for most cryptocurrencies. Is there a difference between sending a friend 1 BTC and receiving 1 BTC in return? You still have 1 BTC, so no worries.
Before you run out and buy NFTs, keep in mind that they are one-of-a-kind tokens; there is no equivalent to an NFT since there isn’t one. This is what causes scarcity and, in some ways, powers the market’s enthusiasm. It’s also one of the reasons why people are suddenly interested in learning how to buy NFT tokens.
Best NFT Tokens
Now that you’ve learned most of the basics, the next question seems to be rather straightforward: how do you know which are the best NFTs to buy? Here we gathered the best NFT tokens for you to invest in:
CryptoPunks was founded in 2017 and is one of the first Ethereum-based first non-fungible token projects. Each punk was developed through an algorithm, and the total number of items is 10,000. In the collection, the Human Punks are the most prevalent, but other Punk species exist, such as 9 Alien Punks, 24 Ape Punks, and 88 Zombie Punks.
Bored Ape Yacht Club NFT
This NFT investment specializes in online avatars, just like CryptoPunks. This project features a lot of cartoon apes (10,000), and the crypto ecosystem allows the Bored Ape Yacht Club to remain adaptable. The Bored Ape Yacht Club (BAYC) is a limited edition NFT collection in which the token acts as your ape club membership.
DCF is a hand-drawn collection of 999 NFTs by artist Daehan Dope. The Zilliqa family and its members greeted him as he entered the Zilliqa Metaverse, where DCF resides. To understand how profitable this investment is, you should know that after only a few minutes on the market, the first collection of 99 Dope Crew monkeys was sold out. The cheapest NFT was $Zil 999 ($100). All in all, the artist has sold out many collections on the renowned in the Zilliqa Community Sparda Wallet and has earned over $30,000
Axies are the creature items that appear in Axie Infinity, a popular blockchain-based game. To play the game, you’ll need three Axies, which means that as the platform grows in popularity, the price of Axies will automatically rise. Axie NFTs vary in price based on their features, but you can get one for around $200 right now.
The Decentraland NFTs were the most popular NFTs in the first week of December 2021, with $6.6 million in sales over seven days and an average of $19,469 per transaction. Decentraland claims to be “the world’s first totally decentralized system.” It was first released in 2017, with property portions costing $20 each. If we fast forward to 2022, the same handful of parcels might cost anywhere from $6,000 to more than $10,000.
How to buy NFT tokens?
Let’s take things from the top and start with the first step: you need to buy some cryptocurrencies for yourself so that you can purchase NFTs!
Step 1. The first step is to purchase Ether. Yes, Ether is the coin that you will need to buy NFT crypto tokens.
Step 2: After purchasing Ether, you must transfer it to a secure wallet on an exchange of your choice.
Step 3: Now go to OpenSea or any other NFT marketplace and look around. While you can buy specific NFTs from other people on the blockchain, you’ll want to find a reputable marketplace the majority of the time.
Step 4: Next, you’ll have to connect your MetaMask wallet to the marketplace (create a wallet if you don’t have one) and transfer the Ether you bought from your exchange account to the marketplace wallet in order to buy NFTs.
Step 5: Determine which NFT is best for you. There’s no need to hurry. Set a specific price range, select the type of NFT you’d like to buy, and fill in some other data in the OpenSea interface to help you narrow down your options.
Step 6: Buy the NFT. You may find a few different alternatives when you arrive at the landing page of the NFT of your choosing. Some NFTs can be bought right away, while others may require you to enter an auction first; for the purpose of this article, let’s assume you’ll be purchasing NFTs that can be bought right away. A wallet symbol can be seen in the top-right part of the OpenSea website; press it, and a list of crypto wallets will show up.
Step 7. If you haven’t connected the MetaMask wallet to OpenSea, do it now. To fully receive your NFT, you must connect this wallet to the marketplace. This is a straightforward and quick process; all you have to do is follow the steps on the platform.
Step 8: Have fun with your new NFT! After all the fees have been paid, and the transaction has been confirmed on the blockchain, you are now the happy owner of a non-fungible token! It will show in your MetaMask wallet, and you will be able to trade it or just enjoy the fact that you can now buy NFTs.
Exchange BTC to Ether: Where to Do It at the Best Rates?
Don’t worry if you’re unsure where to get your Ether coins or how to buy ETH using crypto. Ether is traded on a number of major exchange platforms, but Swapzone is the perfect place to go if you’re seeking the best rates. Swapzone provides excellent exchange rates with no hidden charges. The following is a step-by-step guide on how you can exchange BTC to Ether on Swapzone:
- To begin, go to the Swapzone website.
- Choose Bitcoin (BTC) from the pair menu and input the quantity of BTC you want to trade.
- Select Ether in the ‘Get Up To’ section (ETH).
- After you’ve entered all of the information mentioned above, the Swapzone website should display the exchange rate and numerous great offers.
- You can sort the offers here based on various factors such as price and transaction time.
- Choose the best deal you can find and click on the “Exchange” button.
- Next, enter the correct wallet details to convert Bitcoin to ETH and click on ‘Proceed to Exchange.’
- Wait for the exchange service to process the deposit and complete the exchange.
- Finally, don’t forget to evaluate and review the exchange partner so that we can gather more information on these services for users to find the best options.