A beginner's guide to collecting and trading NFTs.
In this guide, we aim to answer all questions related to the incredible and exciting world of NFTs. With tips on how to buy and sell, trading safety rules, books and movies about blockchain, and a list of media to follow for the latest updates, we’re confident this will be a great starting point in your NFT journey!
Heard of NFTs? Most likely.
Know what they mean and how to trade them? Maybe not.
In this blog post, we'll cover the basics of NFTs and provide some tips on how you can get started with them!
Firstly, let's quickly recap what NFTs are…
NFTs are unique digital assets that are stored on a blockchain. They can represent a wide range of things, including artwork, collectibles, in-game items, and even real estate. One of the key features is that each NFT is unique with its own value - it’s a unique way to prove the ownership of digital art. If you own an NFT, no one else can own the same one unless you decide to sell it.
Today the most interesting and innovative NFTs are called dynamic NFTs – a digital asset that can change, evolve or update over time.
Unlike traditional static NFTs, which cannot be altered, dynamic NFTs can have their data updated. For example, virtual in-game items or virtual property that can be updated with new features. The next generation of NFTs if you like.
How to buy and sell NFTs
There are a few different ways to buy and sell NFTs. The most common method is to use a marketplace such as OpenSea or Rarible. These platforms allow you to browse and purchase NFTs from a variety of creators and collectors and also see your own NFT collection.
To buy an NFT, the first thing you'll need to do is set up a wallet that is compatible with the blockchain the NFT is stored on. One of the most popular wallet options for NFTs is MetaMask. Once you have a wallet set up, you can then use it to purchase NFTs with cryptocurrencies, such as Ethereum or Solana.
If you want to sell an NFT, you can list it on one of the marketplaces or try to find a buyer directly through social media or forums. It's important to do your research and make sure you're getting a fair price for your NFT.
There are a few things to keep in mind when collecting and trading NFTs:
Authenticity: It's important to verify the authenticity of an NFT before you buy it. This can be difficult, as there have been instances of NFTs being sold that are not genuine. Make sure to do your research and only buy from reputable sources. A great NFT security guide can be found here.
Website: Does the NFT project have a website communicating clearly their project? Look for the WHY, HOW, and WHAT.
Roadmap: How will the utility/value proposition be delivered? Is it a "Buy-and-Sell" NFT project or a "Hold"? Are the next steps achievable or over-promising?
Team and Growth: Who is the Team? Are they able to execute their Roadmap?
Rarity: Some NFTs are rarer than others, which can affect their value. For example, an NFT that is part of a limited edition series is likely to be more valuable than an NFT that is widely available.
Storage: NFTs are stored on the blockchain, but you'll also need a way to access and view them. Given the current bear market, it may make sense to back up your NFTs using Clubnft.com.
Market conditions: Like any asset, the value of NFTs can fluctuate based on supply and demand. It's important to keep an eye on the market and be aware of any factors that might affect the value of your NFTs.
Web sources for NFT information
- NonFungible: news and insights on the current state of the NFT market. They cover the latest projects, sales, and trends, as well as provide a weekly newsletter on NFTs.
- TheBlock: analysis on crypto and blockchain, as well as data and insights on the NFT market.
- CoinDesk:, events and information for the crypto asset and blockchain technology community.
- Decrypt: updates on crypto and the broader financial world. They provide in-depth analysis, news, and reports on NFTs, blockchain and digital assets.
- NFT News: analysis on the NFT market. They cover the latest NFT projects, sales, and trends, as well as provide a weekly newsletter on NFTs.
- NFT Now: updates on the biggest drops of crypto art.
- Right Click Save: critics of refined NFT art.
For inspiration and advice, read about other NFT collectors, like CryptoPlantDr, VonMises, or Benoit Couty. Many of them agree that the best approach to start collecting NFT art is to buy what you love first! After all, it’s part of your digital collection!
Also, check out this list of books about NFT art and Crypto Movie/TVShow List collected by crypto art collector & advisor Fanny Lakoubay.
We hope this guide helped those wanting to get started with NFTs.