NFTs are blockchain-based digital certificates. First established in 2015, this concept is gaining popularity since early 2021. For artists, it is a way to authenticate their work. For investors, this can bring in a lot of money. What do you need to know about crypto NFTs and how to invest in NFTs? Find all the essential information in this guide!
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What are NFTs? Definition
An NFT (Non-Fungible Token) is a non-fungible token that usually represents a specific virtual object or digital object. In other words, it is a certificate of ownership recorded on a blockchain.
As a result, each NFT has unique characteristics, including the date of its creation, its owner, or the object it represents. Also, the token is indivisible and cannot be exchanged for another, hence its name “non-fungible”.
In what context did the 1st NFT Project see the light of day?
The first NFT emerged in 2015 as part of the experimental Etheria project. The objective was then to sell plots of land in a virtual world to Internet users. Each of them was represented by a unique token based on Ethereum blockchain technology. All information, transactions, and transfers of ownership are kept on the network. Today, even brands like Nintendo are selling tokenized items.
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Why were NFTs created?
NFTs were therefore created to authenticate the ownership of a virtual object or good, a digital work of art (image, video, or even audio), or even publications. Since all information is kept on the cryptocurrency blockchain, it is always possible to find out who owns the tokens at any given time. Although the protocol is not regulated and does not prevent copies, it is always important to have proof that you are in possession of the original version.
NFT Crypto: How Does It Work?
The digital object is tokenized by its creator.
Holding the NFT certifies ownership of the original version.
He has the right to sell the object later when it increases in value.
After a sale, the NFT is then transferred to the new owner.
All transactions are recorded on the core blockchain.
In turn, the new owner can resell the object and the cycle begins again.
The prices of non-fungible tokens can go up or down over time depending on the interest of Internet users in the object. But it also varies depending on the collection to which the object belongs. A very similar operation to the art market where your bet can pay off depending on the projects followed and their news.
Good to know: Most NTFs are based on Ethereum blockchain technology. However, it also exists on other networks like Ripple.
How to Invest in NFT Live?
Create an account on an NFT platform like Crypto.com
Login to your account
Choose the NFTs you want to acquire
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Investing in NFTs – 2023 Guide
With Crypto.com, it is quite easy to get NFTs, just follow these few steps:
1. Open an Account with Crypto.com
Head to the NFT Crypto.com platform to open an account in minutes. Start by filling out the registration form and then click on the “Sign Up” button.
Open an Account on Crypto.com
2. Login to your Account
Directly after your registration, you will receive a verification email from your email address where you will have to click on the verification link to access the login page of your Crypto.com NFT account. In particular, Crypto.com will offer you to link your account to the provider's application, which will be necessary to be able to carry out transactions on the platform.
3. Invest in NFTs
Once logged into your account, head to the Marketplace located in the top menu.
Explore the available works and make your choice. You will access more information on the work by clicking on it.
Once you have made your choice, click on the Buy button to finalize the purchase with payment by credit card, for example.
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Where to Buy Crypto NFTs in 2023?
We present to you the best platforms on which you can invest in NFT.
Crypto.com : best place to buy NFTs
Nifty Gateway: diversified means of payment
OpenSea: a wide range of NFTs available
Rare: artistic digital works
SuperRare: a social network dedicated to NFTs
Comparative Marketplaces Where to Invest in NFT Crypto
Discover a comparison of the main online NFT sales platforms:
Characteristic
Crypto.com
Nifty Gateway
OpenSea
rare
SuperRare
NFT
All categories
All categories
All categories
Exclusive tokens like Cryptokitties
Artistic works
Other categories
All categories
Payment
fiat
Fiat and ETH
ETH
ETH
ETH
Interface
Easy to use
Instinctive and welcoming
Intuitive and user-friendly
User-friendly and intuitive
Sober
Specificity
Popular crypto platform
Partner artists known as Grimes
Largest NFT marketplace of the moment
Active members earn ERC620 Rari
Social network with newsfeed
Creation of NFTs
❌
✔️
✔️
✔️
✔️
How to Invest in NFT with Ethereum?
As you can see, apart from Crypto.com and Nifty Gateway in this list, most NFT platforms use Ethereum as their sole means of payment. In this case, it is absolutely necessary to hold ETH tokens before you can invest in NFTs.
Here's how to get ETH to use as payment in an NFT platform.
1- Opening an eToro Crypto Account
To create an eToro account, you must first register with the online broker. Complete the registration form:
Account Verification
Provide additional personal information: full name or address.
Complete a Know Your Customer questionnaire.
Give your phone number and confirm with a code sent by SMS.
Upload IDs.
2- Deposit on the Account
Now you have to fund your account with Paypal, Skrill, bank transfer, or credit card. After clicking on “Deposit of funds”, you will need to complete the form by:
Indicating the amount you wish to transfer to your account.
Choosing the currency and payment method that suits you.
Providing the additional information required.
3- Buying Crypto ETH
Just enter “ETH” in the search bar, select the option you are interested in, and invest. You must then complete the trade ticket indicating the amount you wish to commit to the purchase.
4- Transfer of ETH to a Wallet
Once you are an Ethereum holder, you must transfer your tokens to a wallet like Metamask.
5- Buy NFT with ETH
Go to your favorite NFT platform and link your Metamask wallet to the platform. All you have to do is choose an NFT and buy it by paying via your ETH wallet.
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The Best NFTs to Invest in 2023
The total sales of NFTs in the first half of 2021 amount to approximately $2.47 billion compared to only $13.7 million in the same period of 2020. Moreover, the market for non-fungible tokens weighs today more than 15 billion dollars. Among the crypto assets available, some are more popular and more valuable than others. Discover them in the following table.
NFT
Creator/Game
1st sale price
Year of sale
Everydays: the first 5,000 days
mike winkelman
$69.3 million
2021
CryptoPunk 7523 or Covid Alien
Larva Labs
$11.7 million
2021
1st Tweet on Twitter
Jack Dorsey
$3 million
2021
9 Axie Infinity titles purchased at once
Sky Mavis
$1.5 million
2021
NYAN CAT Remastered
Chris Torres
$587,000
2021
Death of the old
GRAMES
$389,000
2021
Formula 1 track plot
F1 Delta Time
$200,000
2020
F1 vehicle
F1 Delta Time
$110,000
2019
CryptoKitties
Dapper Labs
$180,000
2018
The value of the best NFTs increases over time. Investing in one of these crypto-assets if their owners choose to sell them could therefore earn you attractive capital gains later.
Warning: It is always essential to learn about the NFT as well as the state of the market in the world before investing. Indeed, the value of objects also depends on the collection, the more digital objects you have from the same collection, the more valuable they will be!
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NFT vs Bitcoin: Where to invest?
Should you invest in NFT or BTC? Discover their differences to be able to make your choice.
NFT
Bitcoin
Token: based on an already existing blockchain
Cryptocurrency: has its own blockchain
Certificate of ownership linked to a digital object or a virtual good
Crypto currency
Indivisible
Divisible
Unique characteristics for each NFT, not tradable
1 BTC identical to 1 other BTC, exchangeable
Cannot be used for payments
Can be used for payments
A multitude of NFT categories available in the market
Bitcoin: a single currency
Varied prices according to the NFTs, adapted to all budgets
Single course, but divisible, suitable for all budgets
Payment by fiat currency at certain platforms or crypto, usually ETH
Payment by fiat currency or exchange with other cryptos
Volatile
Volatile
As you will have understood, non-fungible coins are primarily aimed at enthusiasts and collectors, hence the many comparisons with the art market. It's not just about speculation, it's also about collecting digital items to watch your initial bet grow in value.
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Why Invest in NFTs with Crypto.com?
Above all, investing in a non-fungible token makes you the owner of the original version of a digital work or virtual good that you can exploit at your leisure.
It is also a good way to support artists. In addition, the sale of the crypto asset could allow you to benefit from substantial capital gains if its value increases in the future.
Benefits
Wide choice of crypto assets on the market
Wide range of prices
Possession of an original work
Capital gains
Disadvantages
Payment is mainly in crypto
Possibility of devaluation of the property and therefore loss of capital
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Conclusion: Should You Invest in NFTs Now?
NFTs or non-fungible tokens are certificates of ownership linked to unique assets. They are based on the blockchain, which guarantees their authenticity as well as the traceability of transactions. If this market is still young and attracts many "geeks" thanks to its breakthrough in video games, it could attract many other sectors. In particular, its guarantee of traceability could attract the main victims of counterfeiting in the world: the luxury industry! A gigantic potential, which is well worth a small investment today!
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frequently asked Questions
What is an NFT crypto token?
An NFT is a non-fungible token based on a blockchain and linked to virtual movable or immovable property. Each token has unique characteristics that identify the object and its owner at a defined time.
What is the purpose of crypto NFTs?
NFTs were created in order to authenticate the original version of an object and record all transactions involving it on a blockchain. In this way, it is always possible to know its owner at any time.
How to buy crypto NFT?
To buy crypto NFT, you have to pass specific marketplaces like OpenSea or SuperRare. Then, all you have to do is choose the work or property that interests you and then buy. Payments are usually made in ETH or other cryptocurrencies.
What is the most expensive NFT sold?
The most expensive NFT sold worldwide is “Everyday: the first 5,000 Days” by Mike Winkelmann in 2021: $69.3 million.
How to get your money back with NFT crypto?
Selling is the only way to get your money back with NFT crypto. You can even make interesting profits if the value of the work has increased in the meantime.
Charles Ledoux
Charles is an experienced copywriter, delivering his substantive work to Actufinance. During his years of study at the faculty of eco-management, he developed his knowledge of economics and the world of finance. Thanks to this training, he managed to better understand the objects and instruments of the financial universe, he was able to rediscover the full potential of the crypto market. Charles is a French writer, dedicated to creating a conscious planet.
He wrote his first book at age 10 and has since written four more. Ranging from spirituality to natural health, he now puts his writing skills to use in cryptocurrency education. He did several years in medical school and obtained degrees in food. Using his knowledge, he was able to become a health coach, in order to help as many people as possible regain their optimal health. The similarities between permaculture and Bitcoin are, for him, striking. He then decided to join the formation of the Crypto-Academy, of the famous YouTuber Pompliano.
Following a month of training, with the best crypto-currency specialists, to finally receive an NFT diploma. Charles has been at the heart of cryptocurrencies and blockchain technology since 2022. This is why Charles naturally joined the Actufinance team. The crypto industry, being still very young, requires enthusiasts. In order to accelerate their adoption. He will do everything to continue educating others on this new technology.
Find him on his networks, and on Business 2 Community as well, where he writes news on a daily basis.
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