A NFT is a non fungible token, which is a unique digital asset that cannot be replaced by another token. NFTs are based on blockchain technology, which ensures their authenticity and uniqueness.
As with investing in cryptocurrencies, you must use a specialized online platform to buy, sell and mine NFTs.
Find out our pick of the 3 best platforms on the market.
Both in terms of the number of sales and popularity among investors, Opensea is simply the market leader in NFTs. Since its beta launch in 2017, the platform has allowed its users to buy, sell and create NFTs on the Ethereum blockchain, and more recently also on Solana and Polygon.
Opensea now has about a million users worldwide and a daily transaction volume of $200 million. It accepts over 150 different cryptocurrencies and offers a very wide range of NFTs, from the most famous collections (CryptoPunks, Bored Apes, etc.) to digital art, video game items, and domain names.
It's an extensive offering, but it comes with a 2,5 % transaction fee. In terms of ergonomics and ease of use, the platform is fully optimized and novice investors will have no trouble figuring it out.
Although Binance's platform was already a leader in the cryptocurrency market, it quickly took its place in the NFT market. As a result, Binance NFT has become one of the highest quality and most cost-effective platforms for investors targeting non-fiat token trading.
Based on the Ethereum and Binance Smart Chain blockchains, it accepts three different types of cryptocurrency: Ethereum, BNB (the native token of the Binance blockchain), and BUSD.
Although the platform is mainly focused on NFTs related to the video game sector, it offers a wide range of different tokens, with limited fees: as low as 1 % per transaction. In addition, the platform is easy to use, as it is already positioned (and very popular) in the cryptocurrency market.
An NFT platform close to Opensea in its approach, Rarible offers its active users a variety of non-functionalized art tokens. Based on Ethereum, Flow and Tezos blockchains, it also allows artists to mine their NFTs and sell them to investors.
As for virtual wallets, you can use MetaMask or Coinbase on Rarible. However, the commissions charged by the platform are not so small - 2,5 % of the transaction value on both the buyer and seller side.
Useful to know: The Rarible platform also accepts credit card payments.
NFT is a new and rapidly evolving technology that has the potential to change many industries. Investing in NFT can be lucrative, but it is important to understand the risks involved.