What types of NFTs are there?
Ever wonder what are the categories that stand out today?
- Collectibles — This is the most basic use case of NFTs, this idea first started with the launch of Cryptokitties which has a digital cat collectible where they can be bred and be also traded on whatever blockchain. Keep in mind they were considered as a Commemorative Coins that has a value since that as people get aware of what a collectible is, the more they are willing to pay just to collect them.
- Digital art — the most popular type of NFT right now is Digital Art, few pieces were being sold for several millions. This specific category might be art that is hand drawn while others are computer-generated illustrations.
- Virtual real estate — Facebook managed to create this whole new vision of creating a Metaverse that can be an extension of our universe that might exist in what we call cyberspace. In this case, you can now purchase plots of land, buildings, spaceships and more stuff in a Metaverse in the form of NFTs.
- In-game items and characters — Play-to-earn is now benefiting itself on NFTs by joining their non-fungible elements on their very own games.
How to get started with NFTs?
Setting up your Web3 Wallet is the very first and important step if you are planning to start your NFT Journey. Having this wallet is necessary for the purchase, trade as well as for selling digital assets.
Remember that you will be needing different wallets on different networks.
Ethereum
Majority of the NFT Projects can be seen on OpenSea, and one more thing about this Marketplace is that this only supports Ethereum and Polygon. MetaMask, the most well-known wallet and is being used universally, runs on Ethereum.
Solana
Solana is currently building its name and is slowly building its great ecosystem on the majority of NFT Projects. To also include this narrative, fees here are unbelievably low, which makes it more affordable to buy NFTs. Solana has two wallets as of now, Phantom Wallet and Solfare.
Tezos
This is said to be the second most known platform for independent artists aside from ETH and SOL, Tezos is probably one of the most underrated blockchains, and if you are kind of interested in exploring Tezos NFTs, Temple Wallet is the number one choice.
Cardano
Despite being one of the most recent smart contracts, Cardano has to offer some of its NFTs. Nami Wallet is said to be the most perfect wallet that is compatible with Cardano for NFTs. There are also two other options, Yoroi and Daedalus Wallets.
How to mint your own NFTs
Converting a digital file into a crypto token that will be stored on a blockchain, and that will automatically give you an exclusive ownership and access to it is called “Minting”.
When minting NFTs, OpenSea is the most known platform, so in this case this is going to be our example. First step is you’ll need to go to its official website and look for a hamburger icon on the very top-right side. This should show you a sidebar where you will find a “Connect Wallet” button that is color blue and then click it.
You will be seeing a variety of supported wallets, but in this case choose MEtaMask or whatever wallet you currently have, and then that will make your account complete, editing your profile can be done too.
Before minting, make sure that your MetaMask wallet should at least have ETH worth $100.
To start minting, go to your profile and click “Create”, this should automatically bring you to the NFT Creation Page. Filling out some important details about your account is necessary. After filling out the needed information, customizations can be also done.
Once everything’s done, click “Create” once more and then you’re now settled, you’ve just minted your first NFT.
Top 5 NFT Marketplaces to Buy NFTs
Check out this different NFT Marketplaces.
With 140,000 unique wallet addresses, which also conducts transactions in 30 days, OpenSea is the leading and most popular marketplace which offers all existing categories of NFTs from different in-game items, even virtual lands, as well as some domain names. Various types of auction processes also exist here that give users the freedom to sell their NFTs. OpenSea supports Ethereum, Polygon and Klaytn networks..
Rarible is another NFT Marketplace that mainly focuses on Ethereum, this marketplace was run by a decentralized autonomous organization (DAO) which consists of RARI holders. Rarible also offers “lazy minting” that enables users to list their own NFTs without needing to spend gas feed until their item was sold.
For Solana based NFTs, Magic Eden is the best choice to check out. Ethereum users usually find assurance in Solana-powered NFT Marketplaces since the fees are almost non-existent that will allow them to list and mint.
This attracted some of the very best digital artists in the world since the majority or the larger ratio of artworks here are from independent artists who don’t know much about crypto. HEN is a home for a vibrant community of different digital artists.
HEN runs under Tezos, that’s why you will need a Temple or Kukai wallet here.
This is the most popular NFT Marketplace that is powered by Cardano, Cardano is fairly new that’s why expect it to be a bit buggy sometimes. Unfortunately, there are only a few marketplace that Cardano supports.
