There is a lot of buzz around NFT nowadays. But what is NFT? An NFT (Non-Fungible Token) means digital assets which are non-interchangeable. NFTs turn your digital assets into a unique digital signature. These assets can now be bought or sold for real money or cryptocurrency. They are transferable, trustworthy, and maintain ownership rights.
Each NFT contains specific information for establishing the ownership – who owns the digital asset and who sold it, making it distinct and easily verifiable. Furthermore, it will secure its originality forever as it is impossible to forge such a digital certificate.
Bitcoin and Ethereum are fungible tokens, which means if you trade Bitcoin or Ethereum for one another, you will have the same value or item in return, basically money. However, NFT is a unique token. Therefore, if you try to trade it, you may end up with something completely different in your hands.
Owing to its increasing popularity, people are now willing to pay hundreds of thousands of dollars for NFTs. NFT has enhanced media exposure and special perks for aspiring artists, celebrities, cricketers and businesses across the globe.
Do you who are famous Hollywood celebrities that have joined NFT wave.
Hollywood Celebrities with their NFTs
But before we talk the celebrities, do you know why are they exploring NFT? First and foremost to make profit. Secondly, they want to influences their fans and other people to do the same. Now ELts check the famous Hollowood celebrities who have their NFTs.
Lindsay Lohan, who sold her first NFT on February 15 for $57,290. Since then, she’s been minting more NFTs and donating the proceeds.
Shawn Mendes collaborated with Genies, a company that creates digital cartoon avatars, for a series of NFTs on OpenSea, which is the largest marketplace for NFTs.
Snoop Dogg, announced in late March 2021 about his first NFT collection titled “A Journey with the Dogg,” which is a culmination of the rapper’s early memories through the medium of NFTs. The drop lasted a limited 48 hours, with Snoop Dogg earning over $100,000 for just one of the pieces sold.
Ellen DeGeneres, known for interviewing other celebs on her ‘Ellen Show’, sold her first NFT in April of 2021. She decided to auction her explanation of NFTs on the Ellen Show and a physically drawn picture of a cat featured in the clip as her first NFT. The drop lasted for 24 hours while the talk show host earned $33,495 which she later donated to the World Central Kitchen.
Eminem shared his first NFT collection titled “Shady Con”. It took the form of a digital festival that gave fans the chance to own an NFT collectible on Nifty Gateway.
After all the hype and seeing your favourite personalities selling their own NFTs, you might want to try out the same as well. So here’s a list of top global NFT Marketplaces where you buy or sell your own NFT:
OpenSea was founded in 2017 and is the world’s first and largest digital marketplace for crypto collectibles and non-fungible tokens. To transact on OpenSea, users must purchase the cryptocurrency ether on a crypto exchange like Coinbase and set up a crypto wallet like MetaMask to connect to the platform. It offers cross-blockchain support across Ethereum, Polygon and Klatyn. You will first have to create an account with OpenSea and connect your wallet.
The core currencies on OpenSea are Ethereum (ETH)/WETH, USDC, and DAI. You can instantly create, sell or buy a new NFT from OpenSea. There’s also an associated gas fees with the transactions. Gas fees are like transaction fees on the Ethereum blockchain.
When you make transactions, such as transferring crypto to another wallet or purchasing an NFT on OpenSea, you’ll need enough ETH in your wallet for the initial transaction and the gas fees linked with the transaction. There are three types of gas fees: one-time fees, recurring fees, and actions that are gas-free.
Binance is also one of the largest and most trusted sources of crypto trading worldwide. Moreover, the exchange also provides a platform for NFT trading. Powered by Binance’s blockchain infrastructure and community, the Binance NFT Marketplace offers high liquidity for users who want to create, buy, and sell NFTs.
To trade in NFTs on Binance, you need to account with the crypto exchange. Once you are done opening an account, you will need to buy a cryptocurrency and it should be ETH or BND or BUSD. By holding BNB, BUSD, or ETH in your spot wallet, you can start buying and selling NFTs.
If you’ve found an NFT for sale using the Auction sale method, you will have to place a bid to have a chance of winning. The highest bid at the auction’s end will purchase the NFT. You can choose from an Auction or Fixed Price format for your sale and take payment in several different cryptocurrencies.
Binance claims that you can have your collectibles live and ready to trade within five minutes. You can also deposit and withdraw the tokens to a compatible wallet or another exchange.
Rarible is also a large marketplace for all kinds of NFTs, similar to OpenSea. All types of NFTs including art, music, video, GIFs, etc can be bought or sold on Rarible. It is a multi-chain NFT marketplace with Ethereum, Flow and Tezos integrated. One will need to use the marketplace’s token Rarible to buy and sell on the marketplace. Rarible token is built on the Ethereum blockchain as well.
Foundation.app is a new marketplace launched back in February of 2021. However, since its launch, it has sold more than $100 million of NFTs. Anyone can create a profile to start collecting NFTs. All you’ll need is a MetaMask wallet and ETH, the cryptocurrency used to pay for all transactions on Ethereum.
As for Creators, they are invited to join Foundation by community members. Once they have received an invite, they’ll need to set up a wallet with ETH before you create an artist profile and mint an NFT—which means uploading the artworks to a decentralised peer-to-peer storage network. It will then be an NFT which the creator can price in ETH and put up for auction or a private sale on Foundation.
When an artwork is sold on the primary market, creators receive 85% of the final sale price. If an NFT is listed and collected again on the secondary market, a 10% royalty is automatically sent to the creator who originally minted the artwork—in perpetuity.
Nifty Gateway teams up with Top artists and brands to create collections of limited edition, high-quality Nifties, which are NFTs and are built on Ethereum. It’s an art curation platform powered by the crypto exchange Gemini.
Nifty Gateway is also a centralised, USD based marketplace for buying and selling Nifties. It lets you display your Nifties, as well as withdraw them to external wallets, or deposit Nifties from external wallets into your collection. Nifty purchases and sales also can be made in fiat currency (e.g., U.S. dollars) without making a cryptocurrency purchase first.
So these were the top global NFT Marketplaces for you to buy and sell NFTs but what about the Indian scenario? As much as NFTs are booming internationally, India is also catching up. Many Bollywood celebrities have come forward to promote NFTs and NFT Marketplaces have also been launched in India.
One of India’s top fashion designers, Manish Malhotra, recently sold NFTs of digital sketches of some of his most famous creations for $4,000 per piece. His website shows that one can purchase some of his bridal wear outfits at a lower price range of $2,500-$3,500.
Amitabh Bachchan recently also launched NFTs and personal collectibles on beyondlife.club. These NFTs include his autographed vintage posters, a recital of his father’s famous poem Madhushala, and other items associated with his stardom. In a recent auction, the digital collectibles from his NFT series were sold for roughly Rs 7.18 crore ($966,000).
Sunny Leone was the first Bollywood actress to roll out her NFTs in early November. She launched a collection of 9,600 NFTs under the title “Misfitz”. Sonu Nigam is the one to launch a music NFT in India. Further, BollyCoin, an NFT platform for Bollywood enthusiasts that is supposed to go live this month, successfully closed its pre-sale round of 20 million tokens worth $2 million within a month. The platform also announced its partnership with Salman Khan Films, Arbaaz Khan production, Sohail Khan Productionz and more.
Cricketers like Dinesh Karthik, and other personalities including Salim-Sulaiman, Suniel Shetty, Kunal Kapoor and many more have all been associated with NFTs in some or the other way. But what if you also want to jump into the NFT waters and explore the world of digitally owned assets? To do so, you can check out the top Indian NFT Marketplaces we have listed for you:
WazirX is one of the largest Crypto exchanges in India and back in June of this year, the exchange announced its NFT platforms for buying and selling of NFTs. The marketplace can be accessed by going to the WazirX NFT website. You can even connect other wallets with this service so you can trade easily.
You can head over to the ‘Discover’ tab and scroll through various digital art forms, GIFs, music and more. Ironically, as we mentioned above, you can just download the video, or the photo by long pressing on it and you will have the NFT for free.
WazirX NFT trades in WRX which is the utility token of WazirX. WRX token is based on the Binance blockchain. The service also shows you the converted amount in USD next to the creator and owner of the NFT. You can also browse through various creators and collectors to find new NFTs.
Colexion is one of the largest NFT Marketplaces where you can buy, collect and trade officially licensed digital collectibles. It has a big userbase in India as the company has roped in multiple bollywood stars, cricketers, sportsperson, and more, with the most recent one being Indian Snooker player Pankaj Advani.
Indian singers Mika Singh, Salim-Sulaiman and Sidhu Moosewala; Bollywood star Sunil Shetty, Actors Tanuj Virvani, Raai Laxmi, Aamir Ali; cricketers of international acclaim Varun Chakravarthy (India), and more have also been a part of the marketplace.
The company promises to be the most safe and user-friendly licensed NFT marketplace. For multiple streaming of income, there will be a monthly subscription of the digital art museum and artistic short movies, 30 per cent of the celebrities’ sales will be streamed, and all the purchases can be done with CLXN token.
The company’s target audience is the 15 million-plus 25-40 years old cryptocurrency users and 500K 20-25 years old using fan interaction platforms. In India, the target is 510 million 18-24 years old who spend an average of 8.5 hours every day in online gaming.
The company has also secured partnerships, like All Stars Football Club and Tiger Shroff lead MFN fight club, and with several iconic Superhit feature films and award shows and is in talks with various international sports federations for exclusive NFTs.
Moreover, the company is creating unique digital collectibles, rarest artwork and special trump cards for all the celebrities that are attached to it which would be further used for trading and games. Colexion is the first company to create a personalised digital NFT museum of celebrities.
BuyUCoin advertises itself as ‘India Ka NFT Marketplace’. There’s no fees involved in selling or buying with BuyUCoin as a part of a limited time offer. To Collect NFTs, Visit the Marketplace, Search for Bundles or collections and Place your Bidding or Pay the fixed price. You can also compete with other NFT Buyers collecting single NFT resources launched separately out of a collection.
You can also auction your NFT at BuyUCoin. Place Sell Order of your NFT and Enter Minimum price. Then, the auction will start from that price. You will also have to choose the Maximum price for Instant Sell to take place.
Indian Artists Can also use this platform in the same ease-of-use way and create their collections, single art, and it can be anything having uniqueness and no duplicacy option. You can also Buy/Sell NFT using BuyUcoin’s INR Fiat Gateway saving time for conversion. One can also use wallets like MetaMask, Torus and more to pay with ETH at a nominal fee. The platform also has an app available both on Android and iOS.
NFTically launched in July of 2021 and is a more flexible platform than others as it also allows people to create their own NFT Marketplace. It is a global B2B software-as-a-service (SaaS) to enable celebrities, influencers, gamers, clubs & enterprises to launch their own white-label NFT store or NFT Marketplace without any technical knowledge.
NFTically is an open NFT marketplace where users can buy and sell NFTs. In addition, they are protected by a secure blockchain that provides excellent security. Therefore, artists do not have to worry about their art being copied.
When you use NFTically, WalletConnect acts as the mediator to link any of your crypto wallets to your NFTically account with the help of a QR code. WalletConnect is supported by numerous crypto wallets and compatible with various decentralised applications. NFTically currently supports trading and minting in Ethereum, Polygon, Binance Smart-Chain.
If you are based in India and are looking for a market to buy and sell NFTs, here’s your list of top NFT Marketplaces available in the country: