Games
Cryptoworld was born from the digital worlds for games. Thanks to NFT, players can monetize their time spent on a game and purchase items with the right of ownership.
Fashion
Digital fashion is just on its rise. World-famous brands auction their own thematic products as NFTs in order to raise money for charity and expand their
audience. Many people introduce the ideas of virtual collections for their avatars.
Music
In cryptoworld musicians can share their music among listeners without intermediaries, conduct a performance for millions of people in the Metaverse with incredible fantastic shows and keep a close contact with the fans.
Influencers
Many celebrities begin to launch their own avatars or sell unique memories, pieces of art and moments in securitized NFTs.
Sport
Sport industry makes tokens out of the best moments of games, videoclips from games or sport inventory as a collectibles.
This is just a small part of NFT potential.
NFT uniqueness
The main value of NFT is that it is a non-interchangeable token. Bitcoin or Ethereum are interchangeable. But there are no two identical NFTs. Even if multiple copies of the same NFT are created, each will be numbered or identified as a unique one in any different way. This makes NFTs collectibles.
Many NFTs are digital understanding of what already exist. For example, videoclips from NBA games, securitized versions of Instagram and many others. But NFTs themselves are one-of-a-kind items, as they have unique IDs.
NFT legal base
Is there any legal protection of NFT?
Yes. Digital and physical assets are protected by NFT ecosystem, thus, allowing to establish clear traceability. Usage of non-interchangeable tokens in blockchain based on smart-contracts makes trading digital materials on the Internet safe and easy.
Legal framework around blockchain and NFT assets is still developing in many countries.
Is there any legal protection of NFT? Yes. Usage of non-interchangeable tokens in blockchain based on smart-contracts makes trading digital materials on the Internet safe and easy.
Chapter 2:
NFT marketplaces
What is an NFT marketplace?
NFT marketplaces are some kind of large internet stores, where people can take a look at an assortment of digital goods and make purchases. Since NFTs are in a blockchain, many of the NFT marketplaces will force you to have a cryptowallet.
NFT marketplaces nominate listed assets in digital currency, but the most widely used is Ethereum. After you bought NFT, ownership passes from the seller to the buyer, who incurs a transaction fee on the Internet.
Cryptoworld is constantly developing and many different marketplaces are opening every day. Many of them will find its own niche in the market. In this guidelines we will take a look at the most popular platforms.
For artists, these platforms are the best at the moment:
Opensea
Rarible
Foundation
Binance
SuperRare
Sotheby's
Let's take a closer look at how it works.
How do NFT trading platforms work?
First of all, you must have a crypto wallet. Even if you have such a wallet, you
have to make sure, that your currency is applicable for NFT. Many marketplaces transfer NFTs in ETH, while others might use Solana (SOL), Tezos (XTZ), FLOW and many other cryptocurrencies.
Marketplaces offer:
в—ЏВ to buy NFT:
Investors can buy NFT via auction or fixed-price listing. After buying, ownership of the NFT will be transferred to the buyer.
в—ЏВ mint NFT:
Many marketplaces allow users to mint their own NFTs. This includes its changing into a digital asset, placed on a blockchain.
в—ЏВ to sell NFT:
Marketplaces allow sellers to place their NFTs for buying by others. Usually, sellers pay a fee to the platform after a successful transaction, however, many other platforms offer royalties for futher sales on secondary markets.
Types of NFT marketplaces
NFT marketplaces for Arts
There are some markets that specialize exclusively at NFT Art. OpenSea and Rarible have the leading positions in this race, and these marketplaces allow creators to place digital art NFTs and sell them to collectors.
Ethereum NFT marketplaces
These marketplaces are built on Ethereum blockchain and offer digital assets listed in ETH. Nowadays, OpenSea is the largest Ethereum marketplace, with a value worth of around $13.3 billion.
Solana NFT marketplaces
Solana NFT art markets are hosted on the Solana blockchain, offering a faster alternative to Ethereum. Besides, Solana is highly scalable. This makes it possible to reduce network fees. Nowadays, Solana itself is not so popular, but at the same time, Solanart and Solsea are the two largest.
Algorand NFT marketplaces
Algorand is another blockchains network that started developing in NFT not long time ago, and several Algorand NFT marketplaces have emerged. Professionals consider Algorand as a way more ecological and scalable than the current Ethereum framework. Since it represents a blockchain with a clean proof of the fraction – PPoS.
Tezos NFT marketplaces
Tezos is a blockchain with an open source that works with its own XTZ token. Tezos NFT markets became more popular during the last year, and large marketplaces such as Rarible now offer Tezos-based NFTs.
BNB NFT marketplaces
BNB NFT marketplaces use the popularity of Binance Coin, the native token of the Binance cryptocurrency exchange. The most popular marketplace will be definately Binance NFT Marketplace itself, which allows users to buy NFT listed in BNB.
Where and how to buy a cryptocurrency?
Today there are several ways to do it:
Method 1: Buying and selling crypto with a bank card through a cryptocurrency exchange
Due to sanctions in Russia it is impossible to replenish the Visa and MasterCard account directly from a bank card. All transactions within the market are available to Russians, but you cannot deposit or withdraw your money. In orded to do this, you have to use p2p or any other exchange offices.
Method 2: Buying and selling crytocurrency with a bank card through online exchange office
There are a lot of offers on the market with a different range of reputation. The best way is to reach out to aggregators for help.
Method 3: Buying and selling crypto with a banking card through Peer-to-Peer platforms.
Here you can find the best offers, however, the risks are high as well. You have to choose more experienced market participants with long-standing reputation on the market, thus, you will reduce risks.
Method 4: Buying and selling crypto with a bank card through EPS (Electronic Payment Systems)
