NFT (Non-Fungible Tokens) have seen a massive surge in price in recent months. This may turn off new investors as the concept of NFT is still debatable and no one would want to invest such a large amount in something new like this. So if you’re in the market to buy an NFT but don’t want to drain your bank account, don’t worry, we’ll show you some of the best places to buy cheap NFT.
Disclaimer: This article is for educational purposes only. Information is provided according to reliable sources and industry trends. The value and position of NFT in the market are subject to change. Do your research and background check before investing.Best Places to Buy Cheap NFT
The sudden surge in NFT prices is due to their exploding popularity and the fact that they are based on Ethereum Blockchain. So the gas cost maker has to pay while minting and the transaction cost when buying NFT is quite high. We will suggest the best places to buy cheap NFT on various blockchains and other cheap NFT ideas.WazirX NFT Marketplace (Binance Smart Chain)
WazirX is a crypto exchange platform that recently launched its NFT marketplace. It features unique and beautiful artwork created by Indian artists who add their touch of Indian culture to the artwork. The artwork will be sold in WRX, a platform token. The platform itself is based on Binance Smart Chain which is a great alternative to Ethereum Blockchain. The BSC helps keep costs to a minimum due to relatively less transaction costs.
Also read | Sign up on WazirX NFT Marketplace to buy and sell NFTsBinance NFT Marketplace (Binance Smart Chain)
Binance is another cryptocurrency exchange platform and has been doing well for itself in the field of NFT lately. Their NFT marketplace houses several good collections that you can buy for a cheap price. They also focus on gaming NFT projects and Metaverse projects so you can invest in those too if you want. Gaming projects can have a play-to-earn model so that you can recoup your investment costs.Unstoppable Domains (Ethereum Blockchain)
Unstoppable domains allow you to buy domain names and extensions as NFTs. The biggest plus of this is that you can use these domain names for your website and use them as regular domains or add them to your crypto wallet as addresses. These domains are cheap as long as you don’t buy premium options. They are based on ethereum, so you have to factor in the high gas price with the price tag of your NFT.
Also read | Unstoppable Domains: Buy Domain NFT and FeaturesSolanart (Solana)
Solana is another rival crypto blockchain and they have their marketplace called Solanart. Solanart is gradually growing in the NFT space and some of the NFTs in Solanart were sold for 3 times their value. Some of those projects like Solana Monkey Business don’t exist now, but you can still look up projects like Sollama that are available at a cheap price and are promising. The transaction costs on Solana are very low, so you pay the asking price of the NFT.Fractional Art (Ethereum Blockchain)
Fractional art allows you to take partial ownership of an NFT. This lowers the barrier to entry and people can get partial ownership for a slightly lower price. You can find some popular projects whose prices are incredibly high and you can invest a small amount to buy a fraction of a percentage of the property. You can then use it however you like and when the NFT is sold, the profit is split equally among all owners.Metaverse NFT
Metaverse games like Decentraland, Sandbox, and Axie Infinity also have their own NFT. These come in the form of in-game items, animals or creatures, or avatars that you can own by using the game’s native cryptocurrency. You can buy these coins as a crypto investment or use them to buy NFT on their respective platforms. You can even earn the coins just by playing the games and completing tasks. It allows you to invest in Metaverse, NFTs and crypto at the same time.
To learn more about Metaverse crypto and what you can buy with it, read our article on Metaverse Coins.Other ways to get cheap NFT
Social media websites such as Twitter, Telegram and Discord have a huge influence on the NFT market. New NFTs to be minted will be announced on these platforms. So if you want to get the most out of your NFT investment, you need to be active in the NFT circle on all three of these platforms.
Also make sure there is decent and good community support before investing in an NFT. A good community of about 5-10 thousand and preferably more is crucial. This is because if the community is less, there may be a liquidity problem. That is, you will find it difficult to sell your NFT in the market as it is difficult to sell them outside the community.
Also read | Create and sell your own NFT in 3 easy stepsTo block
The future of NFT is very hopeful that it will continue to grow with new blockchains joining in and creators releasing more new and breathtaking arts and games, so it is wise to get into the NFT circle sooner rather than later. But we recommend that you do your research before investing.
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