Hello everyone and welcome to my blog
Since the emergence of blockchain, a lot of mind blowing projects such as cryptocurrencies, metaverse, and NFTs have been built on it. Some of these blockchain projects are self explanatory whereas some are just quite difficult for an average user to completely understand. Out of all these complex projects, one of the popular but yet confusing one is the NFTs.
A non-fungible token (NFT) is a blockchain-based token that represents a single asset, such as a document, work of art, music, or even real estate. Because each NFT is a distinct digital asset with its own identifier, it is not fungible.
NFTs are not interchangeable, even though they look quite similar. A bitcoin is equivalent to and transferable against another bitcoin, but an NFT is not. As a result, NFT technology is utilized to provide blockchain proof of validity and ownership. NFTs can be complete digital assets, such as play-to-earn game items and metaverse land, or tokenized representations of real-world assets.
The market supply and demand determine an NFT's value. When an NFT is constructed to represent a physical asset, it's usually easier to analyze it. However, in the digital world, most NFTs reside solely on-chain.
Each NFT collection has a unique supply, and each NFT unit might be one of a kind. However, a number of other factors can influence the value of an NFT. Limited series NFTs, for example, are more valuable due to their unique use cases. Demand for NFTs can be influenced by the founding team, as well as artists and the community.
To put it another way, the worth of an NFT could be determined by who produced it, its use in play-to-win games, or simply community and market sentiment. There have been numerous successful NFT projects, but there have also been many failures. Before trading or investing in NFTs, make sure to DYOR and don't utilize money you can't afford to lose.
- ONE
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| Name | Everydays: The first 5000 days |
|---|---|
| Designer | Mike Winkelmann |
| Price | $69.3 million |
| Purchased by | investor Metakovan |
| Period | February 2021 |
- TWO
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| Name | Clock |
|---|---|
| Designer | Pak and Assange |
| Price | $52.7 million |
| Purchased by | AssangeDAO |
| Period | February 2022 |
- THREE
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| Name | Human one |
|---|---|
| Designer | Mike Winkelmann (Beeple) |
| Price | $28.9 million |
| Purchased by | Ryan Zurrer |
| Period | 11 November 2021 |
- FOUR
.png)
| Name | CryptoPunk #5822 |
|---|---|
| Designer | Larva Labs |
| Price | $23.7 million |
| Purchased by | Deepak Thapliyal |
| Period | February 2022 |
- FIVE
.png)
| Name | CryptoPunk #7523 |
|---|---|
| Designer | Larva Labs |
| Price | $11.75 million |
| Purchased by | Shalom McKenzie |
| Period | June 2021 |
- SIX
.png)
| Name | TPunk #3442 |
|---|---|
| Designer | Matt Hall and John Watkinson |
| Price | $10.5 million |
| Purchased by | Justin Sun |
| Period | August 2021 |
- SEVEN
.png)
| Name | CryptoPunk #4156 |
|---|---|
| Designed by | Larva Labs |
| Price | $10.26 million |
| Purchased by | The beloved Anon (initial owner) current owner is unknown. |
| Period | December 2021 |
- EIGHT
.png)
| Name | CryptoPunk #5577 |
|---|---|
| Designer | Larva Labs |
| Price | $7.7 million |
| Purchased by | Robert Leshner |
| Period | February 2022 |
- NINE
.png)
| Name | CryptoPunk #3100 |
|---|---|
| Designer | Larva Labs |
| Price | $7.58 million |
| Purchased by | Straybits.eth |
| Period | May 2022 |
- TEN
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| Name | CryptoPunk #7804 |
|---|---|
| Designer | Larva Labs |
| Price | $7.57 million |
| Period | March 2021 |
Various NFT marketplaces will sell you your first NFT. You'll need a suitable wallet and supported cryptocurrencies for the purchase, depending on the blockchain network. On the BNB Smart Chain (BSC), for example, NFT prices are almost always in BNB or BUSD, whereas NFTs on the Ethereum blockchain are virtually always in ether (ETH).
On the Binance exchange, you can purchase the necessary coins and then transfer them to a wallet that can be linked to the NFT Marketplace.
Polygon.technology
The Sandbox
Onflow.org
Cosmos.network
Illuvium.io
Axie Infinity.com
Kusama.network
Opensea.io
Superrare.io
Bison protocol
Flovater.com
Votexdefi
Decentraland.org
Crypto kitties
MetavillageDao
Superfarm
Fetch.AI
Dmarket
Binance NFTs
In other to buy NFTs on Binance NFT marketplace, you will have to first transfer your fund (BNB or BUSD) from spot wallet to your funding wallet.
After successfully transferring your funds to funding wallet as seen above, move to navigating into Binance NFT marketplace in other to choose any NFT of your choice to buy. In other to enter the Binance NFT marketplace, click on "more" and select "Binance NFT"
On Binance NFT marketplace, click on "Marketplace" and select your desired NFT. After which you click on "Buy" if you are OK with the attached price or click on "Make offer" if you want to bargain for a different price.
Once you click on "buy" and you have the minimum amount required and enough to cover the network fee, the transaction will be completed and the NFT will be added to your collections. But sadly, I do not have enough funds to make the purchase.
- My owned Binance NFT
NFTs are increasingly growing in popularity and a lot are constantly been sold for outrageous prices. Not all NFTs has usecases but there are varieties of them with meanful usecases. I believe that as NFTs continues to grow in popularity, there will be a wider range of adoption and also an increase in value.