Where to buy NFTs
Different types of NFTs you can buy
There are many types of NFTs: art, music, photography, video game items, tickets to events, avatars, domain names, trading cards and virtual worlds, and tons of other digital items---there are even NFTs just for the memes. NFTs can provide utility both in the metaverse and in the real world, with access to special features or even real estate.
Before you start buying NFTs, it is important to understand the difference between a non-fungible token and a cryptocurrency, and to understand the different types of NFTs.
Non-fungible tokens, i.e. unique digital assets on the blockchain, are unlike cryptocurrencies in the sense that if you trade one token for another, for example bitcoin, you'll have exactly the same thing because bitcoin is "fungible". NFTs cannot be replaced by another token as they are unique.
You can buy NFTs on NFT marketplaces. The type of NFT you are looking to buy can influence your choice of marketplace. For example, if you're looking for NBA collectibles, you can head over to NBA Top Shot; but if you're looking for digital artwork, other NFT marketplaces will be better suited. Another example is Axie Infinity, a gaming-oriented NFT marketplace where the assets of the online gaming platform can be minted or bought and sold.
What is an NFT marketplace?
An NFT marketplace is an online marketplace where you can find, explore, buy, trade and sell NFTs. You'll be able to purchase digital art, discover collections such as Cryptopunks, Bored Ape Yacht Club, Megapont, the Guests...
Social media, ever growing interest in the blockchain network and its decentralized nature, as well as the high quality artwork creators have proven to produce for their digital collectibles play a huge part in the popularity of NFTs and NFT marketplaces as well as the NFT market's growth, in general with the total NFT sales volume surging to over $2.5 billion in 2021 and Beeple's record-breaking $69 million sale of a digital collage.
Where do I buy NFTs?
To get started buying NFTs, you'll need a digital wallet and cryptocurrencies. Although some NFT marketplaces accept credit card payments, the majority will require a crypto wallet.
A digital wallet is where you store your cryptocurrencies and digital assets. Several wallets are available, such as Metamask, Coinbase, Gemini, Electrum and many others. At Gamma, we accept Hiro Wallet and Xverse, both compatible with Stacks, a cryptocurrency built on bitcoin.
To purchase cryptocurrencies, head over to a crypto exchange platform such as Binance or Coinbase. You will essentially exchange your fiat (currencies such as dollars, euro etc) for cryptocurrencies (such as bitcoin, ether, stacks).
Once you have cryptocurrencies and a crypto wallet compatible with the NFT marketplace you'd like to use, you can get started!
Note that different wallets enable access to different NFT marketplaces and smart contracts, therefore different NFT collections. For example, a Metamask wallet or a Coinbase wallet allow you to access ETH dApps, Temple wallet allows you to access Tezos dApps and a Hiro wallet allows you to engage with Bitcoin dApps built with Stacks.
Popular NFT marketplaces
Buying your first NFT and choosing an NFT platform to start with can be intimidating. We've put together a short list for you to explore.
You'll find Magic Eden and Solanart on the Solana blockchain, Aavegotchi on Polygon, and Gamma on Stacks, a blockchain layer built on Bitcoin, the must trusted blockchain.
Some popular NFT marketplaces on the Ethereum blockchain (ETH) include OpenSea, Rarible, Nifty Gateway, Mintable, and Superrare.
Where to buy Bitcoin NFTs?
Gamma is the largest NFT marketplace on Stacks, a settlement layer built on Bitcoin.
Once you've completed the cryptocurrency exchanges process and created your digital wallet, head over to the Gamma marketplace.
On Gamma, you can use domain names to transfer NFTs to someone by typing in their .btc name instead of the longer alphanumeric address, or you can use it to view your own (or someone else's) profile and NFTs on Gamma. .btc domains are registered through a smart contract on Stacks, secured by Bitcoin. This smart contract implements a decentralized name registry. Given Stacks' unique connection to Bitcoin, registering .btc names automatically generates a pair of corresponding Bitcoin and Stacks addresses.
Explore the NFT art and other available digital assets. When you're ready to move forward, you can buy an NFT at a fixed price, place a bid on an auction, mint new NFTs and much more! Note that you'll pay gas fees when buying NFTs, transaction fees associated with the blockchain, as well as a small commission fee. Also note that unlike sites like eBay where the buyer has to pay for the goods upfront, there is no trust problem on the Stacks blockchain! Either the transaction is confirmed in an anchor block or it isn't.
Be safe and exercise caution before making any purchase of any NFT, beware of scams and only mint or purchase NFTs from creators and NFT platforms you trust, with the expectation that there may be no future liquid market thereafter or any buyer willing to repurchase the NFT for any amount of money.
Once your transaction is confirmed, that's it, you own NFTs!