NFT coins are supporting the growth and economy of NFT and metaverse projects. Here are the top 5 hottest NFT coins and how you can buy them on Binance.
NFTs have enjoyed explosive growth ever since they entered the crypto scene, be it in terms of their adoption rate, creation rate, or use case. Within a short span of time, NFTs have entered the mainstream media and near-future developments like the metaverse.
The expansion of NFT applications and utility enables NFT holders to access and unlock exciting possibilities. Behind the scenes, NFT coins are working hard to support NFTs and are recently gaining attention for supporting the creation, transaction, and economy in the metaverse.
How to buy an NFT
Most NFT transactions take place in a dedicated marketplace. Here’s a quick step-by-step guide on buying these digital assets from there.
Most marketplaces currently use the Ethereum network to power their transactions. So you will need Ethereum’s native token Ether to buy an NFT. If you do not have it, you can open an account with an exchange like WazirX or Binance and purchase the tokens from there.
You also need to set up a crypto wallet compatible with Ethereum. A crypto wallet is a digital address where you can store cryptocurrencies. You can open wallets with platforms like Metamask, Binance, or Coindesk. You need to go to the site of the platform of your preference and register to open a wallet with them. After opening the wallet, you will need to send the ether you bought from the exchange to the wallet’s address.
Choose the marketplace you want to buy the NFT from. There are multiple marketplaces for NFTs. Some of the top NFT marketplaces include OpenSea, Raible, super rare, and Foundation.
Register an account at the marketplace you prefer. Different marketplaces have different registration processes.
Connect your wallet to the marketplace. Most marketplaces have a simple ‘Connect wallet’ option on the platform.
Browse the marketplace and choose an NFT of your liking. Most marketplaces have an auction system set up for purchasing NFTs; you will need to bid for the NFT you want.
After a successful bid, you will complete the transaction and the necessary amount will be debited from your wallet. Remember that you may also have to pay a transaction fee to the marketplace, but the fee will also depend on the marketplace.
How to Buy Metaverse NFTs
The two most known metaverses in which you can purchase land are Decentraland and The Sandbox, but to buy either you will need to make an investment of over $10,000. If you want prime real estate, expect to pay 6-figures.
While land in Decentraland and The Sandbox is extremely limited, Upland has mapped out real-world addresses into a play-to-earn metaverse game. Since there’s so much real estate in Upland, you can own a plot of land for as little as a few dollars.
Prime locations sell for large premiums, and there are plenty of options to choose from within Upland. Upland’s native token, UPX, is used as an in-game currency that can be used to buy and sell land. Get started today and receive a 6,000 UPX token bonus to jump-start your metaverse land ownership.
How to Find the Best NFTs to Invest in
When looking for the best NFT to buy, there is a myriad of factors that you should consider before making your investment. Detailed below are a few of the main ones to keep in mind:
Creator of the Collection
One of the critical factors to consider is the creator of the NFT collection. NFTs with a well-known creator tend to perform better than others – this is evidenced by the popularity of other designs by Larva Labs, the developers of CryptoPunks.
Price Point
The best NFTs often list at a reasonable price before appreciating in the months and years after minting.
Additional Features
The majority of the best NFTs will come with additional benefits instead of simply owning a piece of digital art.
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