HomeCoinsNEM (XEM)How to Get Rich With NFTs?

How to Get Rich With NFTs?

- Advertisement -


f2a6c9ac7afe6e0f3495e7ce3984aaa1

It’s quite simple. First, you need to find a digital marketplace that you can list your NFT in, then you need to have a crypto wallet, and lastly, you need to ‘mint’ your NFT, before registering it at the marketplace.

1. Finding an NFT Marketplace

An NFT marketplace is somewhat similar to e-commerce sites such as Amazon. It basically lists out NFTs with either a fixed price or with a base price that’s open for bidding. Some marketplace sells a specific type of NFT, like how NBA Top Shot sells only their original video clips of NBA’s live basketball games.

Some are more famous than others, some use different crypto than Ethereum. So, in making your choice, you have to be sure of your preference, art category, and target market. In other words, you have to do your research very carefully. Good thing we have the internet to help you with that!

2. Creating a Crypto Wallet

After you decide on your preferred NFT Marketplace, you need to own some amount of cryptocurrency that is used by the marketplace. If you don’t have it yet, you can create a cryptocurrency wallet and convert your money into the targeted cryptocurrency. For example, if the marketplace uses XEM, you can convert your USD to XEM, or it is also common to say you have to buy XEM using USD.

Typically, Ethereum will be the top choice because it is the pioneer cryptocurrency that supports NFT. Plus, it is currently the most popular one worldwide after Bitcoin. Wait, what if you already have Bitcoins? sorry to inform you that Bitcoin does not support NFT. However, you can use bitcoin to convert it to Ethereum, or any other cryptocurrencies that support NFT.

3. Minting the NFT

Lastly, you need to hook your non-fungible item to the cryptocurrency. This process is called ‘minting’ whereby you digitally register on blockchain the non-fungible file together with related details, such as suggested price, or the story behind the art. Some marketplace offers the service to mint NFT. So yeah, make your choice wisely.

Then once the minting process is done, register the NFT to your preferred marketplace and your NFT is up for sale!

The buying process is quite similar, it’s just that instead of minting your original art, you register your name as the latest owner of the NFT after a successful purchase.

 



Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,494FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,634.00
ethereum
Ethereum (ETH) $ 3,101.66
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 502.65
litecoin
Litecoin (LTC) $ 151.92
eos
EOS (EOS) $ 3.97
okb
OKB (OKB) $ 14.77
tezos
Tezos (XTZ) $ 6.45
leo-token
LEO Token (LEO) $ 2.79
cardano
Cardano (ADA) $ 2.22
monero
Monero (XMR) $ 242.89
stellar
Stellar (XLM) $ 0.278024
chainlink
Chainlink (LINK) $ 24.36
huobi-token
Huobi Token (HT) $ 7.62
tron
TRON (TRX) $ 0.089228
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 162.43
neo
NEO (NEO) $ 38.94
iota
IOTA (MIOTA) $ 1.19
nem
NEM (XEM) $ 0.148992
zcash
Zcash (ZEC) $ 111.50
maker
Maker (MKR) $ 2,387.35
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 47.14
vechain
VeChain (VET) $ 0.091835
true-usd
TrueUSD (TUSD) $ 0.997128
ftx-token
FTX Token (FTT) $ 56.10
kucoin-shares
KuCoin Token (KCS) $ 10.68
waves
Waves (WAVES) $ 24.01