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What Is An NFT? Where to Find and Buy NFTs? | by Ruhi Srivastava | Dec, 2023

Photo by Pawel Czerwinski on Unsplash

NFTs, also known as non-fungible tokens, are unique digital assets with their own distinct digital signatures. These tokens can represent a variety of things, such as artwork, memberships, and in-game items, providing a digital proof of ownership. While the asset itself can be duplicated, the public ledger guarantees the security and accessibility of the ownership record for anyone interested in viewing the proof of ownership. It is worth noting that NFTs, like cryptocurrency, are linked to digital assets. However, the key difference is that NFTs cannot be exchanged, unlike Bitcoin, which operates similarly to traditional currency.

Just like possessing an authentic Leonardo da Vinci masterpiece accompanied by a certificate of genuineness, the acquisition of an NFT grants you ownership of an unparalleled digital artwork. The inclusion of smart contracts within the NFT enables the verification of its authenticity.

How To Get NFTs? Or Where to Buy NFTs From?

Minting: The first step in a project is to develop websites for selling NFTs, a process referred to as “minting.” During this phase, an existing smart contract is activated and the NFT is assigned a specific position on the blockchain network. It is crucial to understand that “minting” is separate from the actual creation of the NFT.

When it comes to buying NFTs, there are two categories of marketplaces: centralized and decentralized.

Centralized NFT Marketplaces: Centralized NFT marketplaces provide users with the peace of mind that their actions adhere to copyright laws, with the marketplace assuming responsibility for this aspect. Conversely, decentralized marketplaces shift the burden of avoiding copyright infringement onto the users. Moreover, centralized platforms can impose specific terms and conditions that users must accept, granting the platform more authority over their engagement and interactions with the available NFTs.

Decentralized NFT Marketplaces: Engaging in decentralized marketplaces carries the potential for copyright violations and harmful NFTs, which can harm your investment gains. Apart from the NFT’s value, there is also a fuel fee that must be paid during the creation of the NFT. This fee can be considered an additional cost imposed by the blockchain network for utilizing its operations.

Although Ethereum (ETH) remains the primary selection for NFT networks, alternative choices such as Flow (FLOW), Cardano (ADA), and Solana (SOL) are available as well.

A multitude of NFT marketplaces are available, each catering to different preferences. OpenSea, the largest platform, primarily operates on Ethereum but also accepts over 150 other cryptocurrencies. In addition to OpenSea, there are three other markets, namely Binance NFT, Rarible, and Foundation, where one can explore a wide variety of art and collectibles.

These marketplaces have their own areas of expertise. The Musician Marketplace, for example, is dedicated solely to music compositions, while NBA Top Shot is the official marketplace for purchasing licensed digital video highlights from the National Basketball Association. Regardless of what you’re looking for, whether it’s art, vintage collectibles, or even website domain names, there is a marketplace that caters specifically to your needs.

  1. Select and Load a Cryptocurrency Wallet

Selecting and loading a cryptocurrency wallet is a crucial step before diving into NFT trading. In order to carry out transactions smoothly, it is necessary to have a crypto wallet and a specific cryptocurrency. There are various crypto wallets to choose from, and for beginners in NFT investing, it may be wise to opt for a well-established option like MetaMask. These wallets are typically more user-friendly when it comes to connecting with most exchanges. To acquire Ether (ETH), you may need to visit a crypto exchange with your crypto wallet at hand. Coinbase or Kraken are reputable companies where you can initiate this process. Once you have exchanged your USD or fiat currency for ETH, you will have the freedom to select an NFT marketplace.

2. Choose a Marketplace and Sign Up

Pick a marketplace and go through the registration procedure. Join the NFT exchange or marketplace that you prefer, like OpenSea or Rarible. The steps may vary a little depending on the platform you select. Nevertheless, you will probably be required to share personal details and, crucially, link your cryptocurrency wallet to the marketplace.

3. Connect Your Wallet To The Transaction

To enable transactions, it’s important to establish a connection between your cryptocurrency wallet and the exchange you’re employing. The procedure may differ depending on the app you’re using, but if you opt for a well-known wallet like MetaMask and a trustworthy exchange such as OpenSea, the process should be uncomplicated. Generally, you’ll be prompted to associate your wallet with the exchange via your profile. Once you’ve successfully completed this step and verified the information provided, you’ll be granted entry to the NFT market. Although the precise steps may vary, you can still initiate the process swiftly.

4. Choose and Purchase an NFT

Acquiring an NFT is like engaging in virtual retail therapy, as long as you have a wallet with funds and connections. Simply use the search feature to find the NFT you desire, evaluate the price (which may be presented in USD or ETH, depending on the platform), and then choose whether to proceed with the transaction. Afterward, click the “purchase” button and witness the NFT and ETH materialize as they are transferred from your wallet.


The realm of NFTs is a vast and ever-expanding market driven by the desire for unique and exclusive ownership. It’s important to remember that there is no guarantee of future value appreciation for NFTs acquired today. However, if you’re open to taking a chance and supporting independent artists, NFTs can be a valuable addition to your digital collection. They can be compared to digital collectibles, akin to limited edition artwork or memorabilia. Like any investment, it’s crucial to thoroughly research and understand the potential risks and rewards before making a purchase.

Several factors come into play when investing in NFTs, including the artist’s reputation, their experience in creating digital art, the popularity of their work, and the demand for their NFTs. It’s also important to recognize that the success of any NFT investment relies on the ever-changing digital art and cryptocurrency markets. With careful research and effective risk management, NFTs offer a wonderful opportunity to support independent artists and add a unique touch to your digital collection.

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