I know crypto but really not much about NFTs. So I researched and want to share with you what I found. In this article I will tell you the major and the minor chains, how to trade or even make your own NFTs. How to find the big, mid-tier and lower-tier projects, how to promote and how to even make your own NFTs totally free!
Introduction (skip if you already know what NFTs are)
Normal crypto is 'fungible' like cash. If you spend $ 10 or BCH 10 and then receive same amount again, it's all the same. There is nothing unique about it.
With NFTs, every single token is unique. So you've probably seen NFT art but maybe also game items and other interesting uses. Even luxury brand companies are using it as a replacement for certificates of authenticity.
Bottom line, they are unique. OK with that said, let's find out more.
How Does NFT Art Work?
OK so most NFT art is really just a link to an image (jpg/png etc.) Yes, it seems like a joke that even cartoon pictures of rocks are selling for huge amounts of money when all you are getting is a link to an image! Don't ask me to explain why people are paying crazy amounts of money, I don't understand. Then again, I didn't understand bitcoin 13 years ago either.
Main Markets
The biggest marketplace is OpenSea. This is where both the big sales take place. Most NFTs are on the Ethereum blockchain but because everybody is annoyed with high gas fees, they also offer NFTs on the Polygon blockchain too which is much cheaper. There are also some other marketplaces similarly supporting multiple chains e.g. cargo.build.
Other Markets
Someone can look at OpenSea, see the high prices, and immediately think NFTs are not for them. What about people who aren't whales? Good news is there are many other sites for you and I.
Cardano
Cardano is one of the leading layer 1 chains and has a thriving marketplace for NFTs. Check out http://cnft.io. Another good site is wencnft.com which shows upcoming Cardano NFTs.
Solana
solanart.io is a nice marketplace for Solana-based NFTs. Also check out digitaleyes.market/explore.
Tezos
Tezos also has a thriving art scene. Check out tezos.art to see all the main marketplaces. hen101.xyz is the main one. byteblock.art is another good one.
Binance Smart Chain
BSC has like the others above a thriving community for affordable NFTs. Take a look at bakeryswap.org, nftb.io and nftblackmarket.io/market/. My favorite though is treasureland.market - you can create NFTs there 100% free!
Trade or Make Your Own NFTs?
Trade
Most people just want to trade. They see the high price at OpenSea and getting a nice NFT seems to expensive. I recommend you look at these other markets. They are not just full of junk, there are some highly traded NFTs there!
It takes a while to get used to buying and selling NFTs. I recommend buying something you actually admire, it will make it an easier journey. Everyone wants to get in early when NFTs are first released, there are a few ways to catch these.
First is to look on Twitter and follow people who are really into the NFT scene. They are easy to find and you will learn a lot. Second is to check new launch tracking sites like nftcatcher.io, buycryptonft.com and wencnft.com (Cardano only).
Make Your Own
There are many ways to do this. You can do your own photography or art work. Yes, you can even create thousands of pixel art characters and it is not difficult to do. Just search for "generative pixel nft" on Google. Personally, that's not for me.
If you do make your own, think first before you start creating. The best and most popular art is when people have new ideas and then express them well. Nobody cares about a rehash of an old idea even if it looks good and nobody cares about a new idea that looks trash. So try to do both.
And don't forget, if you make your own it won't sell itself automatically. You need to get into the community, on discords and on Twitter. Be active on these communities, don't just spam post once and leave and never even talk about your art. If you're not interested in your own creation, why should anyone else be? Your idea needs to have a good backbone, a story maybe even.
Fact Finding
Before you even start to trade or make your own NFTs, you cannot avoid learning more. This article is a great start but you have to discover more. Nice thing with NFTs is that it is all fun! Who doesn't like to collect?
I strongly recommend checking out these sites. They are a mix of rankings and analytics. By checking out this site, you will get a much better idea of:
what sells in the market
find an idea that you can do your own spin on to make it unique
discover more about the market dynamics in general
price histories
analyses and more
Check out all of these: cryptoslam.io, nonfungible.com, howrare.is, wgmi.io, cnftanalytics.io/php/topProjects.php.
Closing Comments
I hope you enjoyed this intro to NFTs. I have even more questions than answers after I did this research! But I'm even more excited and interested. I am going to get into NFTs in a big way so be sure to subscribe using the link below to catch my next article.