How to Find and Buy Affordable NFTs?
NFTs or non-fungible tokens have been popular around the world for being great money-making assets. There have been flashing news articles about NFTs being sold for millions and billions of dollars. Since not all investors, especially beginners can invest such fortunes of money, here is a quick guide for finding and buying the most affordable NFTs and making money from them.
What is an NFT?
NFTs or non-fungible tokens are digital representations of physical objects that are sold online. The sale and purchase of NFTs are facilitated by blockchain technology that records all the transactions made with respect to a particular NFT. The main idea of creating NFTs for physical assets like artwork and real estate is to improve market efficiency and keep track of the ownership of the product. This is ensured by a digital signature that is unique for each NFT.
How to Find Affordable NFTs?
Finding affordable NFTs is extremely important if you wish to make maximum profits. Some NFTs may be cheap but they may not have the potential of becoming popular in the future. There won’t be any use in buying such NFTs. So how can you find NFTs that are not only cheap but also profitable to the owner? Here are four steps that have proven to be useful for NFT buyers to choose the most profitable NFTs.
Find Upcoming NFT Projects Before They Release
When there is a new NFT project scheduled to go live, the initial asking price is usually low. So it’s best to keep an eye on the upcoming and new NFT releases. A few tools like Rarity. tools and UpcomingNFT can help you find unique and affordable projects to invest in. Following the social media handles of NFT is another way for keeping track of upcoming projects. However, this method can be a little time-consuming as you will have to do the basic research on your end.
While choosing a particular NFT, make sure to ask yourself the questions given below.
- Does the project look unique?
- Are there any social media profiles of the project?
- Is there a detailed website?
- What is the floor price of an item in the NFT collection?
- What is the total number of items in the collection?
Explore Social Media: How to Find and Buy Affordable NFTs?
Once you have chosen a project that you are interested in, check their social media pages. All NFTs, including the cheap ones, have their social media links over platforms like Twitter and Discord. Look at the number of followers who are actively engaging in the community. Also, be sure to spot fake followers as companies buy fake followers to increase their authenticity.
An NFT project that you are going to invest in, must have an eager community of followers. This ensures that when you are going to sell the NFT, you will have enough buyers who will be ready to pay an even higher price for your NFT.
Skim Through the Project Website
The next step in finding an affordable NFT project is to go through the website of the project that you are interested in. Check the website and see if all the interesting information regarding the NFT is given on the website. The information should include a roadmap, the whitepapers regarding the project, the profiles of the founding members, the social media profiles of the project, and any history concerning the project.
Check the social media profiles of the founding members to see if they are actively promoting their NFT project. This will help you to find the legitimacy of the project that you are going to invest in. Any website having grammatical errors or spelling mistakes and unwilling to reveal the names of the founding members is a big NO.
Be Sure to Like the NFT: How to Find and Buy Affordable NFTs?
If you are making the first attempt at finding an affordable NFT, make sure that you at least like the collection. This is to ensure that in case you are unable to sell the NFT for profits, you can at least have something that you like. Also, if you don’t like the NFT, there is a huge possibility that others may also not like the NFT and not buy it.
Therefore, when you are buying an NFT, ensure that it is an original work of art or has something that makes it stand out from others in the market.
Also Read: How to Make Money with NFTs that You Already Own?
Where can You Buy Affordable NFTs?
There are dozens of marketplaces to buy NFTs but they may not sell affordable NFTs. So here are some marketplaces to buy low-cost NFTs.
eBay is a perfect place if you don’t have a fixed budget for buying an NFT. It is because here, the prices start from as low as $13.99 and go up to thousands. Also, you can explore among the striking range of artworks, of which all of them tell a different story.
It is one of the best places if you are looking for an accessible range of NFT artworks. To buy an NFT here, you can sign up for free and buy the NFT arts that you are most interested in. There are remarkable NFTs starting from $10. In the marketplace section, you can directly buy the NFTs without bidding on them.
OpenSea is another one of the most popular marketplaces where you can buy a range of NFTs, from digital collectibles like video games to artworks. You can easily connect your Ethereum wallet with OpenSea marketplace by simply adding your username and password.
NBA Top Shot: How to Find and Buy Affordable NFTs?
At NBA Top Shot, the users can trade digital moments. The NFTs range from video highlights to box scores and are valued at incredible prices. The fans can collect assets and trade them easily on the company’s blockchain.
How to Buy NFTs?
Buying an NFT is very easy and involves three simple steps. Let’s have a look at them.
If you have an account on a cryptocurrency exchange, you can buy Ethereum and add it to your Metamask wallet. If you don’t have an account, you can make one on Coinbase or eToro. Having Ethereum in your wallet is necessary because most of the NFTs are sold using Ethereum tokens.
Connect Your Wallet with Marketplace
The next step is to connect your crypto wallet to the marketplace where you are buying the NFT. There are several marketplaces, each selling a different kind of NFT. While some may be selling NFTs of artworks, others may be selling NFTs of real estate. It should be noted here that each marketplace has its own style of working.
Make Payment from Your Wallet
Once you are connecting your wallet to the marketplace, simply place a bid for the NFT that you want to buy. If the project is awarded to you, the cryptocurrency will get deducted from your account.
Most Affordable NFTs to Buy
Here are some of the most affordable NFTs that you can buy online.
- Keys to the Metaverse ($7.00)
- Labo NFT ($9.00 onwards)
- Neon District (less than $5.00)
- OxUniverse (less than $5.00)
- Canvas Cats (less than $4.00)
- Animated Tissue NFT Art ($2.99)
- Alien Fetus Doodle ($13.99)
- Alien Push Toy ($13.99)
A passionate writer, seasonal poet, and feminist, I am trying to wrap my head around all the topics under the sky. You can often see me talking about crypto, social issues, traveling across the globe, how I am trying to change the world, and how you can be my ally!