This is a detailed article about “just pictures” that are bought and sold for millions of dollars. We explain and show you: what is NFT, where does so much money come from, where and how does NFT trading take place, and how exactly do they earn money from it? We tell you about the main strategies of speculation on NFT, with examples and step-by-step instructions: from opening a crypto wallet to a profitable sale on the secondary market. We warn you: this is not financial advice, but an overview of the main strategies with the translation of crypto jargon into simple human language.
01. OpenSea
OpenSea is the world’s first and largest marketplace that sells all types of NFT: graphics, music, photos, videos, gaming-NFT and much more. Purchases of images for hundreds of thousands of dollars, which are written about in the news, occur on OpenSea. For whom: creators, collectors, and investors. Trading volume: $ 10 billion. The platform has over 2 million collections, 80 million NFTs, and 600,000 users. Currency: ETH (Ether). In 2022, they plan to integrate NFT from the Solana blockchain. Interface: in English. If you don’t know English, don’t worry, the interface is simple and intuitive, and in our article you will find a detailed guide to buying and selling on OpenSea. Advantages: the largest, safest and friendliest platform for trading and earning money on NFT. Disadvantages: since trading takes place in the Eth currency, you can face a space commission for “gas”. In 2022, it is planned to launch Ethereum 2.0: mining will consume less electricity, and the commission should be several times lower. Verdict: if you are interested in the prospect of earning money on NFT — welcome to OpenSea. It is this platform that generates millions of dollars of revenue for the nft community every day.
02. Axie Marketpalce
Axie Infinity is a video game with a revolutionary Play To Earn mechanic: players buy, sell, and earn Axies NFT pets. For whom: for gamers and speculators. Trading volume: about $ 4 billion. 3 million active players play daily. Currency: Ethereum. Advantages: This NFT game has allowed many third world residents to quit their jobs and earn millions within the game ecosystem. Disadvantages: The mechanics of Axie may seem daunting for beginners. To enter the game, you will need to buy three pets for several hundred dollars. Verdict: This is the future of gaming and perhaps the way to overcome global poverty and build world peace. If you are interested in this topic — here the guys discuss how to leave your job in gaming. 🙂
03. SuperRare
SuperRare — a marketplace with elite digital art. For whom: collectors and ambitious artists. Trading volume: Artists published on SuperRare managed to earn $ 129 million. Currency: ETH. Dignities: they position themselves as the “future of culture and art”. Disadvantages: you can’t just publish your NFTs on SuperRare, all collections are subject to strict moderation. Verdict: a platform for professional artists and slow investments, for quick earnings is not suitable.
04. Rarible
Rarible is a large, popular and friendly platform for novice creators that does not require pre-moderation from token creators. For whom: artists and collectors. Trading volume: $ 274 million, 405 thousand NFTs, 1.6 million users. Currencies: Ethereum, Flow, Tezos. Interface: simple and clear, even for beginners. Bonus: the founders of the project are guys from the CIS, which is cool. They are actively working on the development and support of the community. Verdict: If you want to create and sell your own NFTs, try it on Rarible right now.
05. Binance NFT
Binance NFT is a platform with a great future, as it actively attracts users from its main exchange Binance. For whom: an inclusive platform for creators, investors, and collectors. Currency: ETH, USDT, BNB, BUSD. Advantages: Russian-language interface, easy integration with Binance, various currencies. Disadvantages: the trading volume here is definitely less than on OpenSea. NFTs here are not so “transparent”, it is more difficult to track the history and statistics of each image. At first glance, you can see that there are a lot of “fakes” in the top for popular collections with OpenSea, and the liquidity of such NFTs is questionable. Verdict: This is probably the future leader of NFT trading. An accessible platform with a low entry threshold.
