How to Buy NFT Tokens – Beginner’s Guide 2023

NFTs are units of data stored on a blockchain with an authenticity certificate associated with them. Many digital marketplaces can trade and sell NFTs.

Considering the exponential growth they have experienced, we will explore the characteristics of the best NFT tokens available on the market and how to acquire them.

Crypto assets are highly volatile and unregulated investment products.

Best NFT tokens to buy – A closer look

Several NFT platforms have seen an increase in value in recent years due to their growing popularity. But not all of them will continue to be successful in the long run. The following are some of the best NFT tokens you should invest in based on their market cap, perceived value, and liquidity.

1. Chimpzee (CHMPZ) – Best NFT token focused on saving the Ecosystem

Chimpzee (CHMPZ) is the native utility coin of the Chimpzee NFT ecosystem. This program enables individuals to generate passive income while protecting animals and the environment.

Chimpzee provides a one-of-a-kind opportunity to earn free cryptocurrency by trading NFTs. Users can buy and sell NFTs on the Chimpzee NFT marketplace, with a portion of the proceeds going to an environmental charity. Notably, the Chimpzee NFT marketplace prominently displays environmental-focused NFTs on its homepage, generating awareness for critical ecological projects.

Furthermore, users can earn free cryptocurrency by participating in the ongoing Chimpzee presale. Early investors receive a 300% bonus, increasing their prospective earnings and maximizing their original investments.

Your capital is at risk

2. Decentraland (MANA) – Best NFT token focused on 3D virtual words

It is a virtual reality blockchain platform that allows users to create, discover, and monetize content and applications. There is also a Metaverse where users can buy and sell plots of land. The Ethereum blockchain is at the heart of Decentraland, which operates with two digital assets. According to the source, the Ethereum blockchain is very energy intensive, the yearly energy consumption being estimated at over $6 billion.

The first is an ERC-721 called MANA, and the second is an ERC-721 called LAND. The MANA token is used for network fees and general transactions, whereas the LAND token represents the number of plots a user has and is not fungible.

Currently, Decentraland’s market cap is $1.5 billion, and the MANAS token is trading for $2.18.

Cryptoassets are highly volatile, unregulated investment products.

3. Axie Infinity (AXS) – Best NFT token for gaming

The blockchain earn-to-play game Axie Infinity was developed by Sky Mavis. In-game avatars called Axies have become increasingly popular on the platform, becoming increasingly valuable. Axie Infinity allows players to collect, raise, battle, and trade these characters as a trading and battling NFT game.

The AXS token’s growth surged through much of the crypto winter season, as NFTs have picked up this year. This cryptocurrency spiked to a record high of $88.91 on Sept. 4 and is seeing serious adoption. On the daily chart, AXS is trading at $47.94.

Cryptoassets are highly volatile unregulated investment products. 

4. Theta (THETA) – Best NFT token based on a video platform with P2P video delivery

Video streaming platform Theta uses blockchain-based technology to solve problems associated with delivering video content. The Theta platform allows users to share bandwidth and computing resources on a peer-to-peer (P2P) basis by using blockchain technology.

In addition to being decentralized, it is also one of the top NFT platforms through which anyone can easily buy NFT tokens. According to the crypto ranking website Coinmarketcap, the Theta blockchain is the most valuable NFT platform, valued at over $6 billion.

Cryptoassets are highly volatile, unregulated investment products.

5. Tezos (XTZ) – Best NFT token with an advanced platform

The Tezos blockchain platform allows developers to build decentralized applications (dApps) on top of an autonomous and future-proof platform. Tezos is secure, scalable, and interoperable. Because Tezos uses a Proof-of-Work (PoW) mining protocol, it has become increasingly popular due to its energy-intensive nature. In addition, it is built to last, so it is unlikely that a hard fork will occur if the network wants to upgrade.

While it is still far from its record high, Tezos is currently trading at $3.22, up 0.26% from yesterday’s close. This suggests that Tezos will continue to rise.

Cryptoassets are highly volatile, unregulated investment products.

6. Chiliz (CHZ) – Best NFT token for eSports and entertainment

Chiliz blockchain can connect clubs and teams with sports fans through Fan Token rewards via their platform.

Chiliz’s blockchain has been integrated with several top-tier soccer teams in Europe, MMA, and eSports. At press time, the blockchain was valued at $2 billion. As a result, you can buy CHZ at a bargain price, as it has been trading at around $0.2383.

Cryptoassets are highly volatile and unregulated investment products.

What are NFT tokens?

People have a long tradition of keeping memories and keepsakes as a species. Moments are treasured, and we generally like to collect items that represent or embody them. Our favorite sports players’ jerseys, cards, and even autographed books by favorite authors show this.

As many critics have pointed out, there is no doubt that NFTs are simply JPEGs that can be downloaded over the internet. However, while it may be downloadable, that does not mean that it is worthless.

Due to blockchain technology, these digital collectibles are stored immutably on the network, and their original owners are recorded as well. You can download an image, but the original copy is pegged to the owner on the blockchain network and can be verified. NFTs have this unique quality as they cannot be easily lost or stolen.

Aside from images, NFTs can also be used on almost any physical or real-world asset. You can tokenize any item you like, such as your favorite card, video, or car. A virtual reality platform like Decentraland sells real estate properties for hundreds of dollars. Several NFTs representing real apartments have been sold, and their owners have the privilege of exploring the space they bought.

Recent sales growth in the nascent sector shows that savvy investors can profit from this investment frontier as this new sub-sector becomes more popular by the day.

Cryptoassets are highly volatile and unregulated investment products.

How are NFTs created?

Minting is the process of creating a nonfungible token. The term has been used to describe creating an asset on the blockchain from a digital item. The NFTs are minted once they have been created, similar to how metal coins are made and added to circulation. The digital item will become tamper-proof, more secure, and more challenging to manipulate upon completion. Due to its nonfungibility, it may be purchased, traded, or resold in the future and digitally tracked.

It is possible to pay continuous commissions to the original creator of a referenced item whenever ownership of the item changes with some NFT technologies. Upon minting the token, creators can include a royalty clause that will allow them to earn passive income after subsequent token sales. In addition, creators can get monetary benefits from their work if it becomes popular and increases in value.

You are ready to begin the minting process when you have signed your NFT and paid the gas fee. Once the transaction has been validated, you will be able to view your newly minted NFT on your profile.

Cryptoassets are highly volatile unregulated investment products.

How to invest in NFTs: Ranking criteria

Non-fungible tokens (NFTs) are unique cryptographic assets on a blockchain with unique identification codes and metadata. Unlike cryptocurrencies, NFTs cannot be exchanged for one another. They are represented by digital artwork and can be bought and sold on NFT marketplaces, typically requiring cryptocurrency for payment. Therefore, it is important for investors to do their research before investing in NFTs, and our experts pointed out the main criteria to look out for when choosing an NFT broker:

Fees

Before investing, investors should examine the best pricing available, from buying to selling costs. Fees should never be traded for security, no matter how simple it sounds.

Security

With the present actions of fraudsters, exchanges that maintain and improve their security architecture have large trading volumes all the time. When opening an account, you should look into whether the platform offers multi-layer verification for withdrawals, two-factor authentication, or is custodial.

Supported NFTs

Before attempting to invest, it is critical to conduct research on the NFTs traded on a marketplace. Several exchanges currently enable the buying and selling of NFTs. However, not all NFTs are created equal. Some are valuable, while others are not. A large majority of them aren’t worth the hype.

Custody and storage

This is concerned with whether an exchange’s wallet is generally secure or whether you have sole ownership of your private keys, which are required to conduct crypto transactions. While centralized exchanges keep these keys, decentralized exchanges allow you complete control over them. Because centralized exchanges keep these keys, your wallet or assets could be compromised if there is a security breach.

Best NFT marketplaces

Without mentioning where you can purchase NFT tokens, this guide on how to purchase NFT tokens would not be complete. Thanks to the marketplaces, you can buy NFT tokens just like any other token. According to the source, the NFT market is estimated at $44 million and NFTs weekly sales volume increased from 100 sales in 2017 to more that 50000 in 2022. Token creators can list and sell their NFTs on these platforms. Listed below are some of the best marketplaces for NFTs:

1. NFT Launchpad – The best choice for traders and creators

NFT Launchpad allows users to buy, sell, and mint NFTs. NFT LaunchPad, unlike many other marketplaces, supports a variety of blockchains, offering NFTs based on the Binance Smart Chain (BSC) and Polygon blockchains, with more to follow.

The NFT Launchpad platform, despite having been created only in February 2022, has already attracted many well-known creators. Aside from the NFT categories, the marketplace offers digital assets from many areas, such as art, gaming, music, photography, trading cards, and more. In addition, it should be noted that NFT Launchpad is the only place where investors can purchase Lucky Block NFTs, which have attracted considerable media attention.

Your money is at risk.

2. OpenSea – Best marketplace for beginners with a wide range of NFTs

OpenSea remains at the top of the market. It offers you a wide range of NFTs, such as domain names, art, virtual worlds, collectibles, etc. Among the assets supported by the service are Ethereum and its related tokens, including ERC-721 and ERC-1155. In addition, you can find digital assets such as Ethereum Name Service (ENS) names, Axis, Decentraland, and others here.

Currently, OpenSea runs over 700 projects. Thanks to OpenSeas’ item minting tool, creators can create items on the blockchain. The tool will allow you to create collections for free without having to write any code. Also, items on OpenSea will be priced differently. Those with fixed prices can be found online, or you can join a price list and hold an auction. Throughout August alone, OpenSea reported 4.3 billion dollars worth of transactions—an increase of 1,000 percent from July.

Your money is at risk.

3. Rarible – Best NFT Marketplace for artists

One of the few NFT marketplaces that can even compete with OpenSea, Rarible was launched in 2020 as an open-source marketplace for buying, minting, and selling digital items. The blockchain technology that underpins Rarible is responsible for exchanging ownership of items.

Even though Rarible supports all types of NFTs, it specializes in virtual collectibles and art NFTs. Also, it offers a very straightforward process for minting, making the platform particularly appealing to creators who are unable to code. Finally, like in OpenSea, Rarible provides an entry point for NFT creators.

The site also acts as a community marketplace. It launched it’s token, named RARI, in July 2020, allowing holders to participate in content curation and vote for updates to the ecosystem. RARI can also be earned by selling and buying NFTs. Many people like Rarible because it has a beautiful interface. NFT lovers can find their favorite tokens easily, and users can easily engage on the platform.

Users have something to look forward to by seeing the top sellers each day on the marketplace. Despite its lack of popularity, Rarible has a lot to offer.

Your money is at risk.

4. Nifty Gateway – Best NFT platform for photographers

It’s another NFT marketplace that’s gained a lot of traction. The Gemini Foundation owns it—a crypto holding company created by the Winklevoss Twins, one of the co-founders of Facebook. Through its NFTs, the platform collaborates with brands and artists.

Nifty Gateway offers exclusive music and artwork marketplaces. The platform has partnered with several high-profile artists, including Lil’ Yachty and Ozuna rappers. As well as classic NFTs, Nifty Gateway offers exclusive work by artists such as Beeple and Trevor Jobes.

Platforms like this have been effective at leveraging collaborations, which have been the platform’s most powerful tool. Its sales are based on drops—basically, limited NFT offerings. Because the tokens last for only a short time, FOMO drives their price up. Following the end of a drop, the Nifties can be resold through the Nifty Gateway peer-to-peer marketplace.

Your money is at risk.

5. SuperRare – Best place to buy digital art and collectibles

SuperRare is another outstanding NFT marketplace. Founded in 2018, the platform offers a great way to buy and sell digital art. The platform describes itself as “Instagram meets Christie’s” and allows users to interact with art and collectibles via the web. The marketplace has a well-developed social network as well. NFT enthusiasts can engage with each other and view showcases from the comfort of their homes.

In SuperRare, all NFTs are ERC-721 tokens. The platform offers both works from popular creators as well as lesser-known ones. Regardless of your budget, you’ll find something affordable at SuperRare. Each NFT sale is charged 3 percent in fees for SuperRare. There is no payment method other than Ether for this marketplace.

Your money is at risk.

Are NFT tokens a good investment?

The NFT industry can offer lucrative investment opportunities, especially now that the market shows a particular interest in them. However, investing in NFT comes with risk, as with any subsector in the crypto ecosystem.

A craze for NFTs is driven by the prospect of owning a piece of art or music. NFT sales have also brought in substantial sums for many popular artists, who distribute tokens to their fans and benefit monetarily from the sale. But it would be best if you were careful too. NFTs have several challenges, including technical issues. For example, there is the possibility of losing your entire collection if your NFT storage platform is hacked or insecure.

It is possible to have difficulty reselling your NFTs, either because no one is interested or because the market is down.

Choosing an Ethereum wallet for buying NFTs

Wallets for Ethereum are very important to NFT buyers. You will need an Ethereum wallet, regardless of where you buy the tokens. This is because most NFT marketplaces use the Ethereum blockchain for most of their transactions, so it is required to complete your purchase.

Cryptoassets are highly volatile, unregulated investment products.

In addition, your Ethereum wallet is the platform on which you store your NFT. NFTs are most often Ethereum-based tokens, so they must be stored in an Ethereum wallet. The wallet indicates who owns the token. Wallets use public and private keys to determine ownership. All assets connected to a wallet, including NFTs, belong to the owner of the private keys. Due to all of these factors, choosing an Ethereum wallet requires a lot of caution.

It is essential to find a safe and secure platform that allows you to make transactions quickly. eToro is a regulated, trustworthy platform. The eToro platform enables you to buy and store ether and NFTs easily and effectively. In addition, it is incredibly secure and supports various assets.

Pros & cons of investing in NFTs

Conclusion

NFTs are a good option, whether you're looking for a long-term investment or a short-term solution. At the same time, you should ensure that you have the right infrastructure to handle and store NFTs.  For the safe storage of your NFT tokens, we recommend purchasing your Ethereum on eToro since it lets you buy your cryptocurrency and securely store it inside your eToro wallet until you are ready to purchase NFT with it.

If you're looking for how to buy NFT tokens in 2023, CHMPZ might be a great place to start. Click on the link below to learn more about the token and how it's revolutionizing the NFT space.

Crypto assets are highly volatile, unregulated investment products.

FAQs

References:

• https://www.businessinsider.com/personal-finance/how-to-buy-nfts
• https://www.investopedia.com/non-fungible-tokens-nft-5115211
• https://www.forbes.com/sites/forbesnonprofitcouncil/2023/05/15/tapping-into-the-power-of-blockchain-a-guide-to-nonprofit-nfts/?sh=319f39e5cc0c
• https://www.cnbc.com/2022/02/02/here-are-the-pros-and-cons-when-it-comes-to-non-fungible-tokens.html
• https://metav.rs/blog/nft-market-statistics-2021-2023/#:~:text=NFT%20sales-,General%20sales%20statistics%20in%20the%20NFT%20market,NFT%20art%20sales%20were%20recorded.