So you’ve finally learned what an NFT is, and you’ve bought into the hype of sports NFTs (if you’re new to the game, read our last two blogs to get caught up). Now it’s time to dive into the world of NFTs. Let’s go over how to get started.
NFTs can be found on a variety of marketplaces, so depending on where you’re buying from, some of the steps may be a bit different. However, one thing is for certain - you need to open up a crypto wallet. You can do this directly from the marketplace platform you’re using. For instance, the popular NBA TopShot platform is operated by Dapper Labs, and in order to buy and sell their NFTs (known as topshots), you would need a Dapper Wallet. To make things easier for us, let’s take a look at Opensea.io, one the largest NFT marketplaces, and a personal favourite of ours at white whale mktg 👀
There are at least 15 different wallets that you can use on the Opensea marketplace, each with their own functions and features. One of the most commonly used wallets is provided by Metamask - their wallet allows you to purchase crypto with your credit card, making it easy to top up your account with funds before you want to make a purchase.
Speaking of which, when you are making a bid or purchase of an NFT, you will need Ethereum or another cryptocurrency in your wallet. The marketplace does not directly accept regular currency. A Metamask wallet lets you buy crypto using your credit card, so worry not, you do not need to become a crypto miner to purchase NFTs.
Once you’ve found your white whale - I mean your desired NFT on the marketplace, you can place a bid for it. Like any auction, you will need to be the highest bidder when the auction closes in order to win the NFT purchase. If you’re lucky enough to be the highest bidder, or if you find an NFT that you can buy immediately - congratulations! The fun has just begun. Now you can flex your NFT, build your collection, or put it up for auction if you think you can cash in on it.
Whether you’re looking to invest for the long term, cash in on the hype, or want to support your favourite athlete, you can do it all with NFTs. You’ve read through our quick crash course, and opened up your crypto wallet. Are you ready to make a splash? Only one thing is missing now - the NFT. Finding the right NFT is all about opportunity. Which NFTs are overhyped, and which ones are worth the wait? Which ones are you going to look at and think “I gotta have that”? Stay tuned for the next blog, we think we got just what you’re looking for.