Are you looking for the best Cardano NFT marketplace options? Then you've come to the right place.

Cardano is a popular and reputable public blockchain founded by Charles Hoskinson, the co-founder of [Ethereum](/coins/eth). It stands out as a Proof-of-Stake blockchain. It features a native token, ADA, that can be used to pay transaction fees and be staked to earn rewards.

Launched in 2017, like Ethereum, Cardano features smart contract functionality. Developers use it to create decentralised apps (dApps) and decentralized finance platforms (DeFi).

Among the many projects built on the Cardano blockchain are NFT marketplaces. The blockchain supports several reputable NFT marketplaces with different features. In this article, we zoom into five of the best Cardano NFT marketplace options.

## [CNFT.io](https://cnft.io/)

Launched by a decentralised team in July 2021, CNFT.io is the first Cardano NFT marketplace. It is one of the biggest Cardano NFT marketplaces.

CNFT.io features various listing options and supports several Cardano wallets, including Nami and Gero. It has a native token, $CNFT. $CNFT tokens are utility tokens that can be used to access projects on CNFT.io's upcoming Launchpad, special giveaways, promotions, and more.

To access CNFT.io, users must first sign in with a username and password. To purchase any NFT on the platform, users must first fund their crypto wallets. It charges a 2.5% service fee for each NFT sold.

## [Jpg.store](https://www.jpg.store/)

Jpg.store is another reputable Cardano NFT marketplace that markets itself as the number one NFT marketplace on Cardano. Its minimalistic design makes it quite user-friendly. Locating available NFTs on the platform is a walk in the park.

Jpg.store features several listing options, minting tools, and a Launchpad, allowing NFT creators to mint, verify, distribute, and market their new NFT projects. It supports several crypto wallets, including Nami, Gero, and Typhon.

Jpg.store stands out with its open-source smart contracts. The platform is all about transparency. Several other pluses include rarity charts on every asset page, traits filtering, and royalties for creators. This Cardano NFT marketplace charges a 2% service fee.

## Tokhun.io

Tokhun.io is a great Cardano NFT marketplace that was initially designed as a minting platform before evolving into a smart contract-driven marketplace. Like CNFT.io, it is among the first NFT marketplaces to be launched on Cardano. It was established in March 2021.

Tokhun.io features various listing options, minting tools, serialised minting, an auction system, creator royalties, and authenticity validation. Like CNFT.io, Tokhun.io has a native token, $TKHN, which can be used to buy, sell, and mint NFTs.

While Tokhun.io isn’t the most visually appealing Cardano NFT marketplace, it does have a decent social media following. You need to sign up for a user account to mint, sell, or buy any NFT from the Cardano NFT marketplace. There is a 2.5% service fee to consider.

## Galaxy of Art

Galaxy of Art is a Cardano NFT marketplace backed by a team of ten persons from Germany, the USA, Greece, and India. The individuals range from programmers, project managers, financial experts, and educational experts to artists.

Like most NFT marketplaces on Cardano, Galaxy of Art claims to be the largest NFT marketplace on Cardano. This is yet to be proven. Launched in January 2022, Galaxy of Art is fairly young. However, it has quickly proven to be a reliable NFT marketplace.

Galaxy of Arts features various listing options, minting tools, and a time auction system. Users are, however, limited to using insider wallets. They cannot link their accounts to external crypto wallets.

## Cardahub

Cardahub is an easy-to-use marketplace that markets itself as the most advanced NFT service on Cardano. While its superiority claims are yet to be proven, it is the most technically refined NFT marketplace on Cardano.

Cardahub, among other things, features various listing options, minting tools, collection pages, free and premium minting, and a Launchpad. Its strategic partnerships are another reason it has become quite popular since its launch in 2021. It has over 25 partnerships that have helped with its growth.

Cardaub supports several wallets, including Nami, Gero, Eternl, Flint, and Yoroi. You will have to connect either of the supported crypto wallets to create, sell, or buy NFTs from the platform.

It is impressive that the platform is run by a team of Vietnamese crypto-enthusiasts working remotely from Switzerland, Germany, Sweden, and Vietnam.

## Final word

Without a doubt, Cardano supports some of the best NFT marketplaces around. While some are still in their early stages, many continue to show great promise.

CNFT.io, Tokhun.io, Cardahub, jpg.store, and Galaxy of Art are only a few of the many NFT marketplaces on Cardano. Most, if not all, of the NFT marketplaces are easy to use and feature various listing options.

With a Cardano wallet, you can easily start minting and selling your NFTs on either of the platforms.


Cardano NFT Marketplace Options for You

## Here, we rank the top 5 Solana NFT marketplace options based on their unique specs. Find out the pros and cons of each of them below!

Ethereum has shaped and dominated the non-fungible token (NFT) market for years. It is considered a pioneering blockchain for these digital assets. But lately, its dominance is shrinking with the availability of more efficient blockchains.

Solana now has become an increasingly popular alternative to Ethereum. It is much faster and requires low transaction fees. That’s why many NFT marketplaces have already emerged for Solana NFTs. Besides,[ these marketplaces](https://decrypt.co/101342/solana-overtakes-ethereum-daily-nft-trading-trippin-ape-tribe) are even overtaking Ethereum in NFT trading.

If you're looking to explore Ethereum alternatives for minting NFTs, you can review the best Solana NFT marketplace options here.

## What Distinguishes Solana from Ethereum?

Before we review the best NFT marketplaces based on the Solana blockchain, we must understand how Solana differs from Ethereum. Here’re the key differences:

1.	Solana can handle 65,000+ transactions in a second, much faster than Ethereum’s limit of 30 transactions per second.

2.	Solana blockchain offers much lower transaction fees in comparison to Ethereum.

3.	Unlike Ethereum’s Proof-of-Work (PoW), Solana operates with a mix of both; Proof-of-History (PoH) and Proof-of-Stake (PoS) mechanisms. This makes the systems energy-efficient and less harmful to the environment.

## Five best Solana NFT marketplace

Across the wide range of NFT marketplaces, you can review the best NFT marketplaces based on the Solana blockchain here!


## 1) Magic Eden

Magic Eden is one of the most well-reputed Solana NFT marketplaces. It allows the trading of Solana NFTs with a low transaction fee of only 2%. It also ensures an efficient transaction process. Besides, if you make a sale on Magic Eden, you can instantly set out your royalties.

Currently, Magic Eden is only approving limited projects to maintain quality. It’s quite an intuitive platform that works with every Solana wallet. The platform also runs a unique collection called Magic Ticket for showcasing its digital assets. Also, it has a separate NFT gaming section, where you can create different in-game objects.

### Pros

•	Low transaction fee

•	Compatibility with nearly all Solana wallets

•	Gaming section


### Cons

•	Approves lesser number of projects


## 2) DigitalEyes

The first NFT marketplace for trading Solana NFTs is DigitalEyes and comes second on our Solana NFT marketplace rankings. It is another popular platform where you can trade your SOL-based NFTs with ease. The platform offers various NFT collections, and if you become the first buyer of any NFT, you can earn profit through its resale.
Moreover, the platform has a mint calendar that gives you updates for the coming NFTs. It creates anticipation for the projects and allows buyers to learn about the upcoming NFTs. However, DigitalEyes charges you a slightly higher transaction fee of 2.5%. An additional fee is payable for royalty on this platform.

### Pros

•	Variety of NFT collections

•	Supports numerous Solana wallets

•	Easy-to-navigate


### Cons

•	Slightly higher transaction fee (2.5%)

•	Extra fee for royalty


## 3) Metaplex

Metaplex can be a good option if you don’t want to list your SOL NFTs on competitive marketplaces. This platform allows you to design your own storefront to market your NFTs. Because of that, you don’t have to follow the set criteria of a platform and enjoy the freedom to showcase your collection as you like.

In addition, you can trade NFTs on this platform via this decentralised platform. Your marketing fee will also reduce as you trade more NFTs. Unlike most marketplaces, Metaplex provides numerous incentives to NFT creators. This is why it has become an affordable option for marketing your collection. 

### Pros

•	Allows separate and creative storefronts

•	Give incentives to NFT creators

•	Secure transactions

•	Affordable marketing cost


### Cons

•	Supports fewer wallets

## 4) Solanart

Among the best marketplaces based on Solana, Solanart is another popular name. It is the biggest Solana NFT marketplace in terms of the collections it offers. The platform features an array of diverse Solana NFT projects. Among them, the notable ones are Aurora and Degenerate Ape Academy.

Other than the collections, Solanart also ensures efficient transactions. Besides, you can integrate any of the Solana wallets with this platform. However, Solanart has one disadvantage: the high transaction fee. It charges you around 3% on each NFT trade, which is higher than most other marketplaces. As an NFT creator, you’ll also have to bear the additional royalty charges.    

### Pros

•	A diverse range of Solana NFT projects

•	Smooth and secure transactions

•	Integrates with most of the wallets

•	Intuitive interface

### Cons

•	Charges 3% transaction fee

•	An additional royalty fee for NFT creators

## 5) SolSea

SolSea is one of the most used Solana NFT marketplaces, as it supports both creators and buyers. The platform features many creative NFT projects that have earned great recognition. Moreover, SolSea features NFTs that support SPL (Solana Program Library) tokens and provide rarity rankings, too.

It is easy to navigate and allows the effortless integration of artwork licences to your NFT collections. It also offers numerous handy features like the SolSea calendar that reminds you of the upcoming NFTs, and for managing finances, there is MoonPay and FXT-pay.

However, SolSea is quite expensive in terms of the transaction fee. It charges 3% on each transaction and an extra royalty fee from NFT creators. Nonetheless, the features it offers justify the high prices.

### Pros

•	Effortless licence integration

•	Rarity rankings

•	SPL compatible NFTs

•	MoonPay and FXT-pay

•	Reminders for upcoming NFTs


### Cons

•	3% transaction fee

•	Royalty fee

## Final Thoughts

The NFT market has been shaped and ruled by Ethereum since the beginning. Though it still holds a large market share, few other blockchain-based marketplaces are also emerging. Among them, Solana is the leading blockchain as it offers faster transactions with lower fees and has energy-efficient systems.

In this article, we reviewed the best NFT marketplaces based on Solana. According to our rankings, Solana NFT marketplace Magic Eden can be the ideal choice for you. It charges much less for transactions and can be integrated with many Solana wallets. Moreover, DigitalEyes, Metaplex, Solanart, and SolSea are also worth exploring marketplaces, as they make up our list of the top 5 Solana NFT marketplaces till today!



Review the Best Solana NFT Marketplace Options

## In January, news of a Fall Out Boy NFT dropped. What happened next?

Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley.
On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by [Invisible Friends](https://invisiblefriends.io/), a well-known [NFT](/news/category/nft-news) creator with a significant following.

The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".

Given the band's international fanbase, it was no surprise that the tweet quickly went viral.
However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.

Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena.
The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.

Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.

Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.

Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
 
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.


Fall Out Boy NFT. What Happened?

eBay announced the acquisition of Manchester-based NFT marketplace [KnownOrigin](https://knownorigin.io/) yesterday. The deal's financial details are unknown. eBay said the purchase was finalised in June 2022.

Andy Gray, David Moore, and James Morgan founded KnownOrigin, a UK marketplace where artists and collectors can make, buy, and resell NFTs. The platform is regarded as one of the best nft marketplaces in the UK.

The purchase will bolster eBay’s position as a leading site as our community adds digital collectibles, said CEO Jamie Iannone. “KnownOrigin has a remarkable, passionate, and dedicated network of artists and collectors, making them a fantastic addition to our seller-buyer community. We welcome these inventors to eBay”.

The deal took place a month after launching its inaugural NFT collection. The new "Genesis" NFT Collection will contain 3D and animated versions of Sports Illustrated cover athletes. eBay's first NFT collaboration was spurred by the collectibles sector.

eBay has a large online retail presence, but it will face stiff competition from crypto-native NFT platforms. Its acquisition of KnownOrigin shows it's serious about entering the NFT space.

“As interest in NFTs grows, we think now is the right time to join eBay. We've spent 25 years establishing enthusiastic communities and are delighted to bring a new audience along. This is a new chapter for KnownOrigin, and we couldn't have picked a better time to work with eBay. This cooperation will attract NFT makers and collectors." Stated co-founder David Moore. The company's latest acquisition expands its blockchain and digital collectibles efforts.

KnownOrigin is the best NFT marketplace because it has a passionate community of artists and collectors, making it a perfect addition to eBay's seller-buyer community. The platform was designed to help creators and collectors promote, sell, and acquire real digital objects. As interest in NFTs continues to grow, KnownOrigin is the perfect place to join the marketplace behemoth. This cooperation will attract NFT makers and collectors from all over the world.

For more developments on the best NFT marketplace go to [Latest Moni](/news)


Ebay Buys KnownOrigin For An Undisclosed Amount

## MoonPay launches NFT Platform with Fox, Universal Pictures. 

MoonPay is partnering with Fox Corporation, Universal Pictures, and Death Row Records (from Rapper Snoop Dogg) in addition to other brands to launch HyperMint, a new NFT platform. 

This partnership was announced by Ivan-Soto-Wright, Chief Executive Officer (CEO) as part of this week’s (June 20 to 24) NFT.NYC conference at Radio City Music Hall in New York City. 

This comes as great news for the digital collectibles space after volume for NFT marketplaces reached new high lows in 2022. 
This also bodes well for the adoption of cryptocurrencies despite complaints by investors Bill Gate and Warren Buffett about the [worth of Bitcoin](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334) and digital assets as a whole.   

HyperMint will enable enterprises, agencies, and large brands to mint hundreds of millions of NFTs daily. This will be an upgrade on the minting process of existing NFT platforms are accustomed to, which takes months to complete.
The platform’s underlying technology has laid grounds for a further breakout in NFTs for legacy brands like Fox and Universal which have several intellectual properties that can be rolled out to millions of digital collectibles lovers. 

Non-Fungible Tokens represent real-world objects in virtual reality such as real estate, music, and art. As digital assets that are indestructible, non-interoperable, indivisible, and verifiable, NFTs cannot be replicated in any shape or form. 
In 2022, brands such as the National Football League (NFL), Nike, Gucci, McDonald’s, Coca-Cola, Louis Vuitton, Burberry, Ray-Ban, Adidas, and Givenchy integrated NFTs into their marketing strategies. 

Commenting on the partnership, Soto-Wright pointed out, “The potential of NFT goes beyond collection; it is the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering.”
MoonPay was founded in 2018 and allows users to buy and sell digital assets using traditional payment methods like mobile wallets (Google Pay and Apple Pay), bank transfers, and credit cards. It also sells its technology to NFT marketplace OpenSea and crypto website, Bitcoin.com.

Despite businessman and celebrity [Elon Musk](/coins/doge) being sued for allegedly misleading people into buying crypto, MoonPay has more than 60 celebrity investors on its balance sheet.
HyperMint will be joining NFT platforms such as LooksRare, Nifty Gateway, and Magic Eden among others. 


MoonPay launches NFT Platform

Since their inception, Non-Fungible Tokens (NFTs) have been seen as a way to create and manage unique digital assets. But many people don't know about NFT collaborations.

Here, we explore some of the ways that [NFT](/news/category/nft-news) collaborations are changing the future of the internet.

## What are NFTs, and do they matter to the future of blockchain technology?

NFTs are a type of digital asset that is unique and cannot be interchanged. NFTs are stored on a blockchain and can represent ownership of assets like property, art, or collectibles.
The key difference between NFTs and other digital assets is that NFTs are not interchangeable. This means that NFTs can be bought, sold, or traded like other assets, but they cannot be replaced by another token.

NFTs are ideal for storing valuable items like property deeds, art, or rare collectibles. They also have the potential to revolutionize the way we collaborate.
By allowing the creation of unique digital assets, a new world of potential NFT collaborations opens up.
The possibilities of NFT collaborations are endless. So far, NFTs have been mostly used to represent ownership of digital items like property or art.
However, the potential applications of NFTs go far beyond that. They could one day be used to create entire virtual worlds or even new economies. The possibilities are limitless.

## Can NFTs be used to create a more collaborative world?

Given the popularity of non-fungible tokens (NFTs), it's no surprise that they are being used in a variety of ways to create new opportunities for collaboration. One of the NFT collaborations is creating digital art collections that can be shared and exchanged between artists and collectors.
This allows for a more direct and transparent exchange of value between creators and their audience. Additionally, NFTs can also be used to create unique experiences that can be shared with others.

For example, one company is using NFT collaborations to create virtual reality (VR) experiences that multiple people can enjoy simultaneously. This type of collaborative experience would not be possible without the use of NFTs.

As more people discover the potential of NFTs, we will likely see even more innovative ways in which they can be used to create new opportunities for collaboration.

## Examples of how NFTs are being used to improve various industries

In the music industry, NFT collaborations are becoming more common. This type of collaboration allows artists to create new and innovative music that can be sold as an NFT.
In the fashion industry, NFTs are being used to create one-of-a-kind fashion items. This allows designers to create truly unique pieces that can be sold for a high price.
In the gaming industry, NFTs are being used to improve game design and development. Developers can use NFTs to create games that are more immersive and interactive.
Finally, in the art world, NFTs are being used to sell and trade artworks such as [Bored Ape](https://boredapeyachtclub.com/). This allows artists to reach a wider audience and sell their art for a higher price.
NFTs are revolutionising the way different industries operate. It is evident that they will continue to do so.

## The challenges to address to make NFTs more successful

For NFTs to be more successful, a few challenges need to be addressed.

One is the lack of NFT collaborations. There are few examples of NFTs working together, making it difficult for NFTs to get exposure and build a following.
This is a chicken-and-egg problem, as NFTs need collaborations to get exposure, but creators are sometimes hesitant to collaborate because they don't want to give up their autonomy. Another challenge is the high transaction fees.

Because NFTs are stored on a blockchain, each transaction incurs fees. This makes NFTs less attractive as a means of exchange since users are often reluctant to pay high fees. Finally, NFTs also suffer from a lack of liquidity.
There are few places to buy and sell NFTs, and the prices can be volatile. This makes it difficult for NFT owners to cash out their investments. It also makes NFTs less appealing as a speculative investment.

These are just examples of the challenges that need to be addressed for NFTs to reach their full potential.


NFT Collaborations and a Better Future

A leading social networking platform, WeChat is reinforcing China’s strict policies for crypto and NFT trading. The platform will be increasing the surveillance on accounts connected with crypto tokens or digital assets. Following the policy change, web WeChat has also banned a few accounts that were involved in trading NFTs.
A crypto reporter, Colin Wu ([@WuBlockchain](https://twitter.com/WuBlockchain/status/1538839036583784448?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1538839036583784448%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fchina-s-wechat-bans-crypto-and-nft-related-accounts)), from Hong Kong, first highlighted the WeChat update. On 20 June 2022, Wu identified the change in its code of conduct section. 

## Web WeChat updated its policy for crypto and NFT trading 

WeChat has updated its terms and conditions for digital assets trading. The platform introduced the policy regarding the prohibition of crypto and NFT trading accounts in the Code of Conduct section.
As per the recent update, any involvement with digital tokens or assets will be against web WeChat’s policies. Now, it will be an offence against the law to trade NFTs and crypto tokens on the platform. 

## Key points from web WeChat update

Here are some of the key points from the WeChat update for the activities related to crypto and NFTs:

1.	Business through cryptocurrencies is prohibited.
2.	Sharing information regarding any transaction involving cryptocurrency is not allowed.
3.	Digital currency derivatives, aka non-fungible tokens trading, are also prohibited.
4.	Digital assets’ secondary transactions will be illegal. 
 
## Crypto activities might lead to ultimate ban from web WeChat

With the current development regarding a [Dogecoin](/coins/doge) investor suing the CEO of spaceX and Tesla, Elon Musk, for $258 billion, and Tech Giants like Bill Gates and Warren Buffet questioning the worth of Bitcoin, web WeChat is enroute to distance itself from the tech.

Now, accounts might face a permanent ban if they are observed to be involved in transactions related to digital currencies and assets. However, in the beginning, the platform will allow users a rectification period and will limit the features of the platform. 

If the user fails to comply with the rules, the account will be permanently banned by WeChat. In addition, the severity of the violation will determine the action web WeChat officials take against the account. As WeChat has over 1.1 billion users in China, this move reiterates China's strict policy against crypto. 

 





Web WeChat to ban users for crypto and NFT trading

If you're a fan of non-fungible tokens (NFTs), you're in for a treat! There are many upcoming Solana NFT projects to watch out for.

## Using Solana for NFTs

Solana is a blockchain with a significant NFT sector. It is considered useful to create a safe and secure environment for artists to sell their work and buyers to complete their purchases.
It also has lower transaction fees than Ethereum.

## About NFTs

Non-fungible tokens (NFTs) are unique digital assets used to represent ownership. Unlike traditional cryptocurrencies, which are fungible and can be exchanged for other currencies or goods, each NFT is unique and cannot be replaced by another token. This makes them ideal for representing digital art, collectibles, or game items.
Recently, the Solana Foundation announced plans to launch a new NFT standard, which will make it easier for developers to create and issue NFTs on the Solana blockchain. This is just one of many upcoming Solana NFT projects that could help boost the adoption of this emerging technology.

## Upcoming Solana NFT Projects

Here are some of the upcoming NFT projects that are being built on Solana:
- [Decenturion](https://www.coingecko.com/en/coins/decenturion): Decenturion is a decentralised autonomous organisation (DAO) that is based on the principles of blockchain democracy. It is one of the first DAOs to utilise NFTs as a means of governance, and it plans to use Solana to issue its own currency, the Decenturion Dollar.
- Aquarius: Aquarius is a platform that allows users to buy, sell, or trade digital collectibles. It plans to utilize Solana to issue NFTs that represent unique collections of digital art, music, and other media.
- DTube: DTube is a decentralised video sharing platform powered by the STEEM blockchain. It plans to migrate to Solana to take advantage of its faster transaction speeds and lower fees.

These are just examples of the many projects that are being built on Solana. With its support for [NFTs](/news/category/nft-news), Solana is quickly becoming one of the most promising platforms for decentralised applications.


Upcoming Solana NFT Projects

## Bill Gates crypto stance

Bill Gates crypto, co-founder of Microsoft, has stated that cryptocurrencies and NFTs are "[100% based on greater fool theory](https://www.msn.com/en-us/money/markets/bill-gates-says-crypto-and-nfts-are-a-sham/ar-AAYuHWF?ocid=uxbndlbing). I am neither long nor short any of those things," the tech mogul said of cryptocurrency. Bill Gates recently joked that "expensive digital photographs of monkeys" will "benefit the world enormously," alluding to Bored Ape NFTs. I am used to asset classes, such as a farm with output or a firm that makes stuff," Bill Gates crypto stated. 

NFTs, according to Bill Gates Crypto, are tokens that cannot be swapped for one another. They are frequently promoted to establish ownership of digital goods such as art or sports collectables. However, given the energy-intensive nature of cryptocurrencies, many regard them as overhyped and damaging to the environment. Many NFTs are constructed on the Ethereum network, which is the second-largest token.  

This week, cryptocurrency prices plummeted when Celsius, a crypto lending service, halted all account withdrawals. After the collapse of UST, a so-called stable coin that was supposed to be worth $1, and LUNA, its sister token, the wounded crypto industry was already licking its wounds. [Bitcoin](/coins/btc) is currently trading at $21,173, a 7 per cent decrease in the previous 24 hours. Since the beginning of 2022, the world's largest cryptocurrency has lost more than half of its value.  

In contrast to the Microsoft mogul, Bill Gates crypto views..

## Visa rolls out Bitcoin cashback cards in Latin America

The payments giant Visa has introduced its first crypto cards in Latin America and will premiere its new goods in Brazil and Argentina through numerous new partner organisations. The company noted in a statement that the move "includes newly announced cryptocurrency card programs and collaborations" with regional finance providers and crypto exchange companies.  

The incentive comes on the heels of Visa's previous, comparable crypto-related action in the region. Late last year, the business collaborated with the Argentine crypto exchange Lemon Cash to introduce a Visa card that provides clients with a 2% bitcoin (BTC) reward when they use the card to make payments. Visa is also launching a Visa Lemon Cash prepaid card in Argentina. Similarly, comparable solutions will be made available in Brazil in collaboration with the crypto-focused banking company Alterbank and the neobank Zro Bank. 

According to a senior vice president of Visa's products and innovations in Latin America, the rationale for this decision is that the region's crypto ecosystem is gaining pace through more investment, higher consumer acceptance, and crypto-enabled use cases. This will enable them to collaborate on our plan to advance the future of cryptocurrency and payments for our customers, clients, partners, and consumers." This contrasts with Bill Gates' crypto view. 


 



Bill Gates on crypto- NFTs are based on 'greater fool theory'

[Non-fungible tokens](/news/category/nft-news) have swept the globe, but they’re not quite as complicated as they appear.

In this article, we will explain how you can create an NFT (Non-Fungible Tokens) on Blockchain-based marketplaces in simple terms and in very few minutes.

## What Is NFT?

The word ‘NFT’ means ‘Non-fungible Token,’ meaning that they are digital assets that can’t be replaced.
NFTs are digital assets that use Blockchain technology to hold the virtual assets of their creators online.
Even a tweet can be regarded as an NFT, whether it is a song, blog post, digital artwork, playing cards, or a collectible.
You’re probably mistaken if you think that making NFTs is only for artists. On the contrary, anyone can make NFTs for free, which is exactly what I’ll demonstrate in this article.

However, do not confuse NFTs with cryptocurrency. They aren’t the same thing at all.
NFT and Crypto are, in fact, components of Web 3.0. However, there are a few ways in which NFTs and Crypto are related.

The following subtopic walks you through the steps of creating your first free crypto wallet using [MetaMask](https://metamask.io/).

## Things to note before creating an NFT

How to make and sell NFT’ is a hot topic that doesn’t seem to be going away anytime soon. It’s quite simple, but you must consider all factors before embarking on your own path. Consider consulting with a professional who can explain how to create NFT art so that you can make an informed choices.

Before proceeding, here’s a list of what you will need to begin creating, minting, and selling your own NFT: 

•	A Crypto Wallet
•	An NFT Marketplace Account
•	A Software to create or generate NFTs

## How to Create a Free NFT Crypto Wallet?

There are plenty of wallet providers to choose from, but we’ll concentrate on MetaMask, the most extensively used crypto wallet.

1.	To get started, go to MetaMask’s official Chrome Web Store page (visit) and click the “Add to Chrome” located on the button in the top right corner. If your browser prompts you for confirmation, select “Add Extension.” Make sure you’re using one of the chromium-based browsers, such as Google Chrome.
2.	When you install the Extension, it will launch a new webpage to get you started. On this new screen, click the “Get Started” button.
3.	Once you’ve done that, MetaMask will then prompt you to log in or register for its wallet. Choose the right-hand option and click the “Create a Wallet” button.
4.	Your secret recovery phrase will now be shown in the app. If you don’t want to lose access to your wallet, don’t share it. Also, remember it or download it for safekeeping using the provided option. Then press the Next button. Before your wallet is complete, MetaMask will require you to enter the security phrase.
5.	After you’ve created your password, you’ll need to come up with a recovery phrase. It’s a 12-word phrase that serves as your wallet’s username. Before you click the “next” button, MetaMask will explain everything in detail.
6.	Your secret recovery phrase is now shown in the app. If you don’t want to risk losing your wallet, don’t share it with anyone. Also, make a note of it or save it to your computer using the option provided. Then select Next. Before your wallet is ready, MetaMask will ask you to type in the security phrase.
7.	Finally, MetaMask will lead you to the wallet dashboard, where you may access all of the cryptocurrency’s details. Finally, our wallet is now ready to produce its first NFT.

## What is Minting an NFT?

In the case of NFTs, minting is the process of taking a digital asset and transforming it into a blockchain-based digital asset, making it a commodity that can be purchased and sold.

To put it another way, a digital asset is any file that is created electronically. This can be an image, an article, a video, or anything else. Minting is the process of converting a digital asset into an NFT by adding it to a blockchain, usually Ethereum. The Blockchain is a decentralised digital ledger that cannot be amended, edited, or destroyed once an item has been added to it. The asset can be sold on an NFT marketplace once it has been minted and certified as an NFT.


## How to Create an NFT for Free: Step by Step Process

1.	Create a Crypto wallet account: You will need a crypto wallet, as we’ve mentioned at the beginning of this article. To create your wallet account, follow the steps above.
2.	Create an account on an NFT marketplace: There are several NFT Marketplaces, such as
•	Crypto
•	Rarible 
•	OpenSea
•	Binance
•	WazirX. 

You’ve probably heard of OpenSea. If you haven’t heard, OpenSea is the world’s largest NFT marketplace as of 2022. On OpenSea, you may use [Ethereum](/coins/eth) to purchase and trade collectibles, NFTs, trading cards, domain names, pictures, and other fun goods. 
Step 1. To get started, create an account. Then, click “Create” in the upper right corner of OpenSea.

Step 2: You’ll then be directed to a page where you’ll be prompted to link your OpenSea account to an Ethereum wallet.

Step 3: Metamask is definitely one of the most popular choices. When you click it, you’ll be directed to the Metamask website to download the Chrome Extension.

Step 4: After you’ve downloaded the Extension, it’ll prompt you for permission to link your Metamask wallet to your OpenSea account.

Step 5: You’re done! You’ll be redirected to an OpenSea website where you can upload and mint your NFT

Congratulations! Your OpenSea account has been successfully created.

Remember to personalize your NFT marketplace account by uploading a banner image and connecting your social network accounts. The more time you spend making sure your social media accounts are connected, the more visible your art will be; the more time you spend adding detail to your profile, the more visible your art will be.

3.	Make some Art: An NFT can be any digital file, so make whatever art you want, if I were to choose, for example, I’d go with a digital painting. Then I’d save the new artwork as a jpg before uploading it to my new NFT marketplace account and minting it as an NFT.

Here are five platforms for creating, designing, or generating beautiful NFTs:

1.	Fotor: This software employs artificial intelligence to assist non-artistic individuals in creating NFTs. Fotor is a no-code platform that allows you to easily make NFTs by uploading your photo and selecting an art style.

2.	NightCafé: This platform allows you to generate several NFTs in bulk. It creates NFT artworks with Artificial Intelligence-based technologies. NinjaFT is an NFT creation program that works on both Android and iOS smartphones. This app allows you to trade directly on the Binance Blockchain. This program allows you to mint, buy, and design NFTs.

3.	NFT Art Generator: This online NFT maker allows you to make NFTs in gif, png, and mp4 formats. Thanks to the software’s simplicity and intuitiveness, the learning curve isn’t too steep. SketchAr is a program that turns digital art into NFT. It chooses the top artists weekly and turns their work into NFT for free.
Each platform has its own user interface and learning curve. If you’re serious about your NFT adventure, getting to know each of these won’t be a problem.

## How to Sell an NFT

Finally, let’s talk about how to actually sell your NFTs on marketplaces like OpenSea now that we’ve covered the subject of creating NFTs.

Interestingly, selling is not as difficult as it appears. Because OpenSea is one of the most often used NFT markets, I’ll walk you through the complete process of selling NFTs on OpenSea.

•	While linking Metamask to OpenSea, sign in using OpenSea and click “Create,” as seen above.

•	You’ll then be led to a website where you may upload your NFT artwork, fill out any required information, and mint your NFT.

•	You’ll need to upload your NFT artwork and give it a name, as shown in the snip above.

•	The external link will be the OpenSea URL for your NFT. The purpose of your NFT description should be to explain why people should buy your NFT.

•	The “Collection” part follows, where you can include or add your NFT to a certain collection name or category.

•	This next step is to choose a Blockchain for your NFT. I’d recommend “Polygon,” a gas-free alternative to Etherium. Simply put, gas fees are the costs incurred by a creator when completing an NFT transaction. In this situation, NFT makers must pay a price to enter their NFTs onto the Blockchain.

Gas costs can be expensive and depressing for artists. However, if you use Polygon as an option, you won’t have to pay a single penny to mint your NFT.

There are a few things to consider if you want to learn how to make an NFT because everyone else seems to be doing it. For example, the cost is a big consideration. In addition, while you can produce NFTs for free on most platforms, selling them may be a different issue. Putting all these together, your NFT is ready to go to the market.



How to Create an NFT for Free

## Metaverse is the future of internet evolvution! But do you know how to invest in metaverse?

The [metaverse](https://www.investopedia.com/metaverse-definition-5206578) comprises a digital environment where people interact with each other. This digital evolution is meant to revolutionise industries like sales, finance, marketing, fitness, education, finance, banking, and more. It is believed the metaverse will achieve this by making an economy with minimal laborious work and more leisure time without compromising the quality and quantity of the work in these industries. The metaverse is an amalgamation of our physical and virtual worlds and sets new goals for the work prospects in a profitable economy.

## How to Invest in Metaverse? Options to Explore

It is possible to invest in metaverse directly and indirectly. There are several ways of investing - let's explore some:

### 1.   Buy metaverse crypto

Buying cryptocurrency is one of the easiest ways to invest in the metaverse. You require a virtual wallet to store crypto tokens and the proficiency to partake in a coin trade. Different nations may have their own rules and regulations for partaking in the trade, such as identification and Know Your Customer (KYC) validation.
Among the most popular metaverse cryptocurrencies are MANA from Decentraland, SAND from The Sandbox, BLOK from Bloktopia, and AXS from Axie Infinity.

### 2.   Invest in metaverse stocks

Purchasing shares in a metaverse enterprise is another way to invest in the technology and it does not require an individual to control cryptocurrency or even open a digital wallet. However, this investment choice is relatively tough as metaverse stock investments are primarily meant for serious investors who have been, generally, involved in the field for a long time.
Some of the top stocks to invest in includes Meta Platforms Inc. (FB), Electronic Arts (EA), Roblox Corp. (RBLX), and Nvidia (NVDA).

### 3.   Build, purchase, and trade NFTs

One of the hottest ways to invest in the metaverse is via [non-fungible tokens (NFTs).](/news/article/nft-art-marketplaces) You can build 3D objects and list them on metaverse marketplaces for sale, which is a technically difficult process. Or, an individual can directly buy NFTs and sell them for a profit, which is comparatively less complicated.
NFTs have gained huge market traction and are one of the popular ways to invest in the metaverse.

### 4.   Acquire metaverse land

Purchasing land is the next most profitable mode to invest in the metaverse. Once the investor creates their digital wallet, they can choose an emerging metaverse platform, explore its layout and available properties, zero in on the property they want, and make an investment.
The process is comparatively straightforward, but involves more risk than crypto token investments as the value of virtual land relies on various unanticipated factors, such as the speed of developing adjacent properties. However, it is among the most famous investment strategies, and experts anticipate the market value could surpass $1 billion this year.

### 5.   Purchase metaverse ETF

A metaverse Exchange Traded Fund (ETF) is a trending investment method that enables you to buy a collection of crypto stocks that a dedicated fund manager actively barters.
ETFs are analogous to mutual funds, in that they curate a set of identical or thematically collected stocks into a single acquisition that delivers relatively predictable returns. However, they vary as a dedicated fund manager actively barters using the ETF and assures it to hold its optimal market worth.
Leading metaverse ETFs that emerged in the last 12 months include Roundhill Ball Metaverse ETF, Subversive Metaverse ETF, and ProShares Metaverse Theme ETF. However, the difficulty of investment is high as most ETFs have the lowest investment threshold of up to $1,000. It is advisable to have initial experience in the stock market.

## Step-by-Step Guide to Investing in Metaverse Coins

### Step 1: Make a crypto wallet.

Every investment, just like physical entities, demands a wallet full of money. You must build a crypto wallet and load it up for purchases in the metaverse. You can build your account on popular platforms like Binance for crypto purchases. For NFTs globally, people prefer MetaMask. Verify your identity to validate your wallet.

### Step 2: Select the mode of metaverse investment you would like to invest in.

### Step 3: Make the payment and enjoy the returns from your metaverse acquisitions.



How To Invest In Metaverse

Why did the share price of NFT Investments go into decline?

British blockchain company [NFT Investments Plc](https://www.nftinvest.pro/) recently announced it was withdrawing its £96 million offer to acquire Pluto Digital. This resulted in the fall of the NFT Investments share price.
The company, which specialises in investing in non-fungible tokens (NFTs),  decided to pull out, claiming, however, that the reasons were not of a financial nature.

 “The company is well-positioned to take advantage of the recent market correction in the blockchain and digital assets sectors by investing at attractive valuations,” the company’s CEO Jonathan Bixby stated.

When talking about NFTs, we are referring to a digital asset that denotes real-world objects such as music, fan memorabilia, sports, art, in-game items, and videos. They are traded online, paid for with cryptocurrency, and generally encoded with the same underlying software as many cryptos.

## Focusing on Building Global Metaverse Company

On 24 January 2022, the company signed a non-binding letter of intent for the proposed acquisition. Its shares were then suspended from trading while waiting for the negotiations to be done.
The company then said it intends to build a world-important metaverse company with this acquisition and boost NFT investments within the non-fungible tokens sector as the Pluto Ventures division has heavily contributed to NFT gaming.

In the meantime, from November to March, the whole blockchain sector went through a month-long bear market, with a total market cap falling more than 40% from its record.

After the company said, in April, that it would not continue with the buy-out, it returned to active market trading. That resulted in NFT Investments' share price (NFT.PL) immediately plunging from 2.4 to 1.75 on the Aquis Stock Exchange. During the last year, NFT Investments' share price has been traded from 2.275, reaching a record of 3.6, and then turning south to 1.325. At the time of writing, the price stood at 1.45.

The company has a market capitalisation of £14 million and around 1,003 million issued shares.

## Still Optimistic on Blockchain

Bixby, however, claims he still feels optimistic about the blockchain industry, especially the NFT sector that, in his words, “continues to show strong growth”.

“Despite volatile market conditions, we secured a stake in seven companies that have high growth potential and are equipped to make an impact on the blockchain sector," he said, hinting that maybe the whole story on possible further acquisitions ain’t over.

 "The NFT sector continues to show strong growth and we have a cash-rich balance sheet to take advantage of new investment opportunities to generate long-term value for shareholders and deliver a sustained increase in net asset value, which currently amounts to 3.43p per share," he added.

The company definitely did its best in only one business year. It raised £35 million before expenses through a flotation on the Aquis Stock Exchange Growth Market.
After that, it invested approximately £5.8 million in seven media start-ups and technology businesses engaged in NFTs and cryptocurrencies.

The company also gained around £1.73 million from the acquisition of NFT gaming company Kodoku Studios Ltd.
The truth is, as the metaverse grows, uses for NFTs will grow as well. Backed by blockchain, NFTs offer immutable records of originality, uniqueness, and ownership that may prove better than old methods.

The shares of the companies investing in the NFT sector will probably rise in the long-term since these companies have a bigger exposure to the whole sector, enabling equity investors to speculate on the sector's growth.


NFT Investments' Share Price Waits for the Right Moment

NFT marketplaces brings back 6.39 million results when searched for on Google. This means that you are not alone in looking for the best NFT marketplaces for 2022.

You continue to come across news of people buying digital cats, apes, in-game designs, and digital art for millions of dollars. It usually surprises you, since art pieces were typically purchased at auctions from well-known galleries across the globe. You may have asked countless times where people keep getting these digital collectibles. Do not worry, Moni Talks has got you covered when it comes to the best NFT marketplaces to buy digital arts that suit your investment preferences.

Since the second half of 2020, non-fungible tokens (NFTs) have sailed on. Many traditional investors, and cryptocurrency holders, are doing everything in their capacity to own and speculate on these blockchain-based assets that are verifiable, indestructible, indivisible, and non-interoperable.

NFTs are digital tokens representing ownership of an asset that is scarce, whether a digital or physical item. Some of these items include real estate, in-game items, collectibles, soundtrack, and artwork.

Unlike cryptocurrencies such as Bitcoin (BTC), ApeCoin (APE), and [Ether (ETH)](/coins/eth), or fiat currencies such as the United States Dollar (USD), Euro, and the Great Britain Pound (GBP), these tokens cannot be exchanged for another.

This is because they come with unique attributes and traits that can be verified but do not have the divisibility of cryptocurrencies or fiat money.

Moreover, unlike digital assets, NFTs cannot be bought on exchanges (centralised and decentralised). Instead, you can find them on specially built online marketplaces.

## What are NFT Marketplaces? 

NFT Marketplaces are platforms where digital collectibles can be displayed, stored, traded, and minted in some cases. These marketplaces are to NFTs what exchanges are to cryptocurrencies and e-commerce websites such as Amazon and eBay are to goods and services.

To be eligible to partake in the activities of these marketplaces, you need to meet the following requirements.

Firstly, you must have a crypto wallet. There are several crypto wallets out there. You should also note that there are several NFT blockchains in the market, as of May 2022. Therefore, the onus falls on you to find a wallet that can access the blockchain network of the NFTs you wish to purchase.

A great example can be attributed to planning to buy or sell NFTs on the blockchain technology of Ethereum. You'll need a wallet like [MetaMask](https://metamask.io/) since it facilitates access to the Ethereum Network. In the same way, should you choose to buy or sell NFTs on other blockchains, you need to find wallets that grant access to those networks.

Secondly, you must have a certain amount of coins in the wallet. You cannot buy cryptocurrencies without fiat or other coins as deposits. In line with the same requirements, you need to deposit coins in your wallet before you can buy, sell, or mint a non-fungible token. More importantly, you will have to check the kind of cryptocurrencies supported by your preferred NFT marketplace before settling on a particular platform.

Lastly, you need to create an account. If you want to buy cryptocurrencies, you must create an account on exchanges that support a particular token. Inferring from the same activities you perform in the crypto space, you need to register for an account on the NFT marketplace of your preference.

In the crypto finance space, you can never do away with fees.

The same holds for listing and creating NFTs. You have to pay a blockchain network fee. There is a not a one-size-fits-all approach and, as a result, you should know your fee is dependent on the blockchain you use for your NFTs. Ethereum has the lion's share of NFT dApps, but it has relatively higher fees than other NFT blockchains.

## What are some of the NFT Blockchain Options?     

Ethereum is the most popular blockchain for decentralized finance (DeFi). Vitalik Buterin’s innovation has the largest blockchain by NFT sales volume. As of May 3, 2022, the total NFT sales volume generated by Ethereum was around $24.99 billion, per data retrieved from CryptoSlam.

This makes Ethereum the most popular chain to buy, sell, and create unique digital collectibles.

Aside from Ethereum, competing NFT blockchains include but are not limited to; Solana, TRON, Polygon, Flow (by Dapper Labs), Polkadot, Algorand, Avalanche, Ronin, BSC, WAX, EOS, Cosmos, Hedera Hashgraph, Cronos, Palm, Arbitrum, Panini, Tezos, Waves, and Fantom.

Interoperability is the hallmark of most of these blockchain systems. For example, you can use ERC20 tokens (Ethereum-based tokens) such as the United States Dollar Tether (USDT), the United States Dollar Coin (USDC), and Binance Coin (BNB), DAI, and others to buy Ethereum-based-non-fungible tokens.

On the other hand, blockchains such as Flow are not interoperable. You can only buy NBA TopShot NFTs with the native asset of the Flow ecosystem, FLOW.

## How Do These Marketplaces Work?

### Register for an Account 

Although there are slight differences when signing up for an account on an NFT marketplace, the main steps are similar.

It involves creating an account and connecting a supported wallet address to your preferred NFT marketplace.

Usually, you can find the "sign up" button at the top right-hand side of the homepage of an NFT marketplace.

Since you know the importance of holding onto your private keys and your passwords, you will be asked to input secret details of your wallet. Once done, your account will be fully set up.

### Buying a Non-Fungible Token 

There are several ways of buying an NFT. You can buy a digital collectible directly at a fixed price. What's more, you can buy an NFT through an auction. In some instances, owners of an NFT are open to negotiating the price of their digital collectibles.

### Selling a Non-Fungible Token 

Selling unique collectibles is more complicated than buying them. Selling NFTs is easy if you are reselling previously purchased items. Unfortunately, if you are selling something you have created, you need to go through a lengthy process.

•	Firstly, you have to upload an image of the digital art, tweet, or soundtrack onto your preferred NFT marketplace. Then you enter a fixed price for the NFT or entice buyers to battle for the piece through an action.
•	Secondly, verification of the NFT is done by the platform. If this is approved, the digital collectible will be listed for sale.
•	Lastly, once a seller accepts a bid for the NFT, the marketplace oversees the completion of the item's transfer from the buyer to the seller.

### Minting a Non-Fungible Token 

Ethereum is the best place to start if you are considering minting NFTs. You'll need an Ethereum wallet like Coinbase Wallet, TrustWallet, or MetaMask that supports Ethereum's token standard for NFTs.

Minting NFTs come at a cost. Therefore, you should have at least $50 in your wallet to cover Ethereum gas fees.
Once you have this, you can access NFT Marketplaces such as Mintable, Rarible, or OpenSea. A "Create Button" is typically found on the top right corner of most platforms.

Once you click on that button, you will be taken to a page where you can begin minting NFTs.

## What are some of the best NFT Marketplaces? 

There are several types of NFT marketplaces. Art-oriented and universal platforms dominate this market. Others, such as niche NFT marketplaces that list virtual real estate, digital collectible cards, and in-game items, are also preferred by millions of people.

Let us look at five of the most popular NFT marketplaces in addition to other honorable mentions.

•	OpenSea: • Launched on December 20, 2017, OpenSea is an online p2p marketplace where NFTs in the form of digital arts, in-game items, and other products can be bought and sold. As one of the most established universal NFT marketplaces, you can find domain names, virtual worlds, sports collectibles, and trading cards. It is the largest NFT marketplace by trading volume.
•	LooksRare: • Launched in January 2022, LooksRare has given strong competition to OpenSea. When you consider data from Dune Analytics, this NFT marketplace recorded more than $800 million in a single week in April. Having spent four months as a platform for buying and selling NFTs, Otherdeed, Bored Ape Yacht Club, and Mutant Ape Yacht Club are the top collections on Looksrare.
•	Foundation: • Founded in February 2021, Foundation has become the go-to NFT marketplace for several creators. This is the playground for collectors, curators, and artists to experience the new way of buying, selling, and minting digital collectibles. Some of the top-selling Foundation (FND) NFTs include Carpoolers, At World’s End, Lucid Journey, Faced Fears, and Arrived.
•	Rarible: • Launched in 2020, Rarible is one of the most patronized NFT marketplaces in the crypto stratosphere today. Data retrieved from Dune Analytics shows that Rarible trails only OpenSea, LooksRare, and Larva Labs in weekly volume. It is an NFT marketplace where millions of people create, sell, and collect digital items. It is one of the few NFT marketplaces controlled by community members through their ownership of RARI tokens. Some of the top collections include but are not limited to CyberBrokers, CloneX, Mutant Ape Yacht Club, Bored Ape Yacht Club, Invisible Friends, Dippies, Azuki, and Dour Darcels.
•	Nifty Gateway: • Founded in 2018, Nifty Gateway is one of the largest NFT marketplaces. This platform holds the record for the most expensive digital collection ever sold. For $69 million, Beeple sold its collection labeled Everydays: The First 5000 Days. Beeple also sold Crossroad for $6.6 million on this platform. Other best-selling digital collectibles include Tpunks and CryptoPunks.

## NFT Marketplaces: Honorable Mentions

Although the NFT marketplaces already mentioned are some of the best platforms to buy digital collectibles, they are not the only ones. Others, such as SuperRare, Larva Labs, GameStop, NFT Launchpad, Crypto.com, DraftKings, and WAX, have great collections.
 
## What are some of the best NFT art collections? 

Once you settle on the best NFT marketplace that can oversee your activities, you have to find an NFT collection to invest in.
Although there are hundreds of collections in the market today, Moni Talks would like to draw your attention to the top five NFT collectibles by all-time sales volume.

•	Axie Infinity: • This NFT marketplace hosts in-game characters from the play-to-earn game called Axie Infinity. On the platform, players earn rewards by breeding, battling, and trading digital pets called Axies. Axie Infinity’s game has become a source of passive income for millions of people. As of May 2022, Axie Infinity has surpassed more than $4 billion in sales volume.
•	CryptoPunks: • This is a collection of 10,000 unique punks. Each CryptoPunk is different and can be officially owned by a single person. It is one of the highest-selling digital collectibles. Overall, CryptoPunks has surpassed more than $2 billion in sales volume.
•	Bored Ape Yacht Club: • Mirroring CryptoPunks and other projects that came before it, BAYC comprises 10,000 unique bored apes. They come in the same template but have different accessories. BAYC is the third-highest selling NFT collectible with more than $2 billion in sales.
•	Mutant Ape Yacht Club: • Mutant Ape Yacht Club (MAYC) is the sister project of BAYC. As of the most patronized digital collectibles, it is the fourth-highest selling NFT with more than $1 billion in sales volume.
•	Art Blocks: • As a unique platform, this project helps you pick a theme or style you like and make payments. Then, a random generation version of your selected style will be created by an Art Block algorithm which will be forwarded to your Ethereum account. Millions of people have taken advantage of this technology. As of writing, Art Blocks as an NFT collection had more than $1.2 billion in sales.

Others deserving of honorable mentions include NBA Top Shot, Azuki, The Sandbox, Meebits, World of Women, Decentraland, Valuables, and Sorare.
 
 



NFT Art Marketplaces: A Beginners Guide

So, it's been a year in the life of [Bored Ape NFT](https://boredapeyachtclub.com/#/).

Bored Ape Yacht Club celebrated its first anniversary with close to $2 billion in sales volume as of the end of April 2022.
This places Bored Ape NFT in third place behind CryptoPunks and Axie Infinity in the all-time rankings in terms of volume.  

Bored Apes became a mainstay in the non-fungible token (NFT) space in 2021 after its launch in April of that year. The Bored Ape Yacht Club contributed substantially to the more than $25 billion spent on NFTs in 2021.

Although millions of people have heard about a digital collectible called BAYC NFT, only a fraction could describe what non-fungible tokens entail.

Yet, if there is a single brand that exposed NFTs to millions of decentralized finance fans and blockchain enthusiasts, it was the Bored Ape Yacht Club. The impact of Ape NFTs on the market has seen numerous celebrities use some of the unique collectibles as their profile picture.

Among them are footballer Neymar JR., comedian Jimmy Fallon, rappers Eminem and Timbaland, and socialite Paris Hilton.

## Why Are There 10,000 Bored Apes?

The Bored Ape Yacht Club was created by Yuga Labs and comprises 10,000 unique collectibles. In the non-fungible token world, like the real world, there are several art forms. Among others, there are one-off visuals and NFT collections that come in limited numbers.

A great example of a one-off visual can be attributed to Beeple’s NFT called The First 5000 Days, which sold for $69.3 million at Christie’s auction house in New York.

On the other hand, digital collection is what you are experiencing with BAYC, CryptoPunks, and NBA Top Shots, among others.
Instead of making a generic image of a bored ape that could be sold at the same price to millions of people, Yuga Labs decided to take a different approach.

Their strategy was to make 10,000 apes with the same template, but each Ape NFT comes with different attributes that confer uniqueness.
In the Bored Ape Yacht Club, each Bored Ape has unique clothes, fur, facial expression, and accessories.

This fell in line with one of the four attributes of NFTs, which is indestructibility. The data of all 10,000 NFT bored apes are stored on the [Ethereum](/coins/eth) blockchain. Each token cannot be removed, destroyed, and, more importantly, replicated.

Out of the 10,000, 46 bored apes came with solid gold fur. Since they remain virtual assets, Bored Apes with solid gold furs are more expensive than Ape NFTs with little to no accessories.

Aside from Axie Infinity, BAYC NFTs has given competition to the World of Women, Art Blocks, Azuki, CloneX, Moonbirds, the Sandbox, Cool Cats, Meebits, Farmers World, and Adidas Originals.

## What Makes Bored Ape Yacht Club Valuable? 

Six attributes confer value on a crypto token in the crypto finance space. They are scarcity, utility, transferability, non-counterfeitability, divisibility, and durability.

Aside from the indestructible attribute earlier pointed out, non-fungibles are indivisible, verifiable, and non-interoperable.

This takes divisibility out of the attributes that confer value to the Bored Ape NFTs, since one Bored Ape is a whole item that cannot be interchanged or divided. Analyst Ollie Leech of Yahoo Finance believes NFTs exist exclusively as whole items.

After being launched in April 2021, all 10,000 bored apes sold out at a price per ape of $190, which was around 0.08 ETH within 12 hours. By the close of July 2021, a single Bored Ape was exchanging hands at $17,334.

Bored Apes ended the third quarter of 2021 with a price of $107,726. In five months, Bored Ape NFT price increased by 56,597.9%.

Bored Ape NFTs' price in the opening days of October 2021 was $122,113, reaching a quarterly high of $306,219 on December 30, and closing the last quarter of the year at $178,660.

There was a 46% increase between BAYC’s opening and closing price in the fourth quarter of 2021.

Overall, there was a 93,931.6% spike in bored ape price from April to December 2021.

With that said, what makes a digital collection successful is subjective. Utility, community appeal, celebrity involvement/influencer, and mainstream potential are factors that have conferred value on Bored Ape NFT.

## Utility

Although several NFT projects claim to offer utility of some sort, most of them do not.

When ApeCoin launched on March 17, 2022, the ApeCoin Foundation linked APE to the Bored Ape Yacht Club and its sister project, the Mutant Ape Yacht Club (MAYC) NFT projects.

Till mid-June 2022, the ApeCoin airdrop remains active.

Holders of the BAYC and MAYC stand a chance of earning free APEs. Bored Ape Yacht Club holders are eligible to claim up to 10,950 APE, while Mutant Ape Yacht Club holders can claim up to 2,042 APE. Overall, 150 million APEs will be airdropped.

This has largely contributed to the soaring Bored Ape Yacht Club NFT price in 2022.

After opening at $183,276 on January 1, a single Bored Ape NFT exchanged hands for $351,561. There was a 91% between ape NFTs' opening and closing price in the first quarter of 2022.

Bored Ape traded for $373,399 in the early days of April and closed the month exchanging hands for $382,423.

Bored Apes reached such valuation due to conferring eligibility on holders to earn free ApeCoins.

Bored Ape Yacht Clubs utility (medium of exchange) or transactional currency comes with APE.

APE can be used as a payment method on the crypto casino BC.GAME. People who enjoy gambling with cryptocurrency can use their APE on their crypto wallets without any extensive verification process from traditional financial institutions. Aside from this, APE can be used to pay for digital subscriptions by TIME magazine.

Moreover, APEs can be earned through the play-to-earn game Benji Bananas.

More importantly, APEs attribute as a utility token will soar as it is the primary currency that will be overseeing all transactions on the metaverse called Otherside.

## Celebrity Involvement/Influencers 

Celebrities have millions of followers across several social media channels. Most of them throw their weight behind projects deemed credible by the major players in the crypto finance space. With Bored Ape Yacht Club, celebrities such as NBA star Stephen Curry, musician Justin Bieber, and other stars have purchased Bored Ape NFT. Some have gone public about it. Once millions of people see the mileage BAYC is garnering in the traditional news media and social media circles online, the resultant effect will be an ascension in the price of the digital collectible.

## Community Involvement 

The ApeCoin Community is one of the most vibrant communities in the space. ApeCoin has channels across Twitter, Facebook, Reddit, Instagram, Telegram, and Discord.

Discord and Telegram are used to promote events such as airdrops, the launch of the metaverse, and news of acquisitions made by Yuga Labs.

Bitcoin would not have survived for 13 years without its community. Dogecoin (DOGE) and Shiba Inu (SHIB) would have become relevant were it not for the impact of Dogecoin and Shiba Inu Army. In the same way, conversations about the Bored Ape Yacht Club project have played a substantial role in each collectible becoming more expensive daily.

## Mainstream Potential 

There are more than 100 NFT projects in the space.

What’s more, as of May 1, 2022, there are more than 19,000 crypto projects in circulation.

If the Bored Ape Yacht Club NFT distribution of 10,000 APEs was not of top-notch quality, the project would have headed into extinction zones, as others have done.

All 10,000 bored apes are unique, poke fun at NFT lovers, and attract buyers.

In April 2021, there were 141 unique buyers, and sales were in the region of $37,556.

When the financial markets reached their peak in May 2021, which saw several coins such as Ether (ETH) and Internet Computer (ICP) reach new all-time highs, the number of unique buyers increased. In May 2021, there were 3,548 unique buyers, and sales were around $17 million. In 2021, Bored Ape Yacht Club's sales volume peaked at $297 million in August, as per data retrieved from CryptoSlam.

As investors rely on past data to make projections about the future sales patterns of digital assets and collectibles, the potency of the project has seen soaring volumes in 2022.

In January 2022, Bored Ape Yacht Club's sales volume was approximately $339 million.

Overall, BAYC's sales volume in the first fourth months of 2022 was $957 million.

With these statistics in mind, it would be extremely easy for a holder to sell a bored ape NFT for more than $400,000.

It would also be easy for a prospective buyer to purchase one NFT bored ape for more than $400,000 since it could be resold for twice that amount within a short period.

## Who are the major players behind the Bored Ape Yacht Club? 

Yuga Labs is the team behind bored ape NFTs. Copying the pseudonymous nature of the crypto stratosphere, the four players behind the project go by unidentifiable names.

They are Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass.

Yuga Labs is also the company behind the Mutant Ape Yacht Club and acquired CryptoPunks in March 2022.

In addition to this, Yuga Labs created the ApeCoin ecosystem.

The ApeCoin Foundation has representatives from cryptocurrency exchange FTX, blockchain-based technology company Horizen Labs, and social media platform Reddit.

They will contribute to the sustainability of the ApeCoin project.
 
## What’s next for the Bored Ape Yacht Club? 

On Saturday, April 30, 2022, the Bored Ape Yacht Club team launched a new NFT collection which crushed the blockchain technology of Ethereum.

This collection was part of Bored Ape’s metaverse launch called Otherside.

The NFT collection comprised 100,000 land deeds specifically designed for the virtual world.

With the project's popularity, demand for a share of these land deeds exceeded supply.

With Ethereum still in the process of making a successful transition from proof-of-work (POW) to proof-of-stake (POS), the network could not handle the load.

As a result, the gas fees, which reached new high lows in 2022 thanks to the EIP-1559 upgrade (London Hard Fork), skyrocketed to record highs. Many users paid thousands of dollars in fees, but their transactions could not go through.

The NFT distribution came in two waves. The first 100,000 lands were sold to new users and some of them were airdropped to holders of BAYC and MAYC.

The other 100,000 lands would be given to users who would make effective contributions to the development of the Otherside.

Concerning the first 100,000 lands, 30,000 were airdropped, and 70,000 plots were sold to new and existing holders of BAYC and MAYC.

For starters, each plot of land cost $5,846, which was the equivalent of 305 APE at the time of sale. The 70,000 lands sold within a few hours and netted Yuga Labs about $420 million, which will be reinvested into expanding the ApeCoin ecosystem.

Like BAYC, Otherside land price has skyrocketed from more than $5,000 to over $20,000 in May 2022.

## Conclusion 

Is now the time to consider becoming a Bored Ape NFT holder? Although the BAYC digital collectibles started small, it has brought in more than $1.9 billion in sales.

There are more than 300 unique buyers monthly, and the average sale value has soared from $213.39 in April 2021 to $308,497 in the same period in 2022.

Being a BAYC holder makes you eligible for ApeCoins and plots of land that could sell for thousands of dollars.
There are many ways of taking a stake in the bored Apes project.

If you cannot afford one BAYC or a plot of land on the metaverse, perhaps you could consider investing in ApeCoin.

The token trades below $50 and with the expansion of the ApeCoin ecosystem, the token could reach new milestones and bring you enormous returns in the short, medium, or long term.
 
 
 
 
 
 
 
 
 
 
 



Bored Ape NFT: A Year in the Life

In July 2021, the US internet sales behemoth [Amazon](https://www.amazon.com/) shook the crypto market after letting out a blockchain and cryptocurrency lead job advertisement.

The ad specified that the company wanted someone to develop the case for crypto, drive the vision and product strategy, and gain leadership buy-in and investment.

According to sources, the directive for this advertisement came from the headman - Jeff Bezos himself - and it meant more than merely looking into options. Allegedly, Bezos was (and still is) interested in implementing cryptocurrencies into Amazon's business, particularly [Bitcoin](/coins/btc), [Ethereum](/coins/eth), Cardano, and Bitcoin Cash. After that, according to reports, the company would develop its native token as well.

Still, even though there were plenty of rumors, they were never officially confirmed. Amazon did, however, hint that it plans to jump into the creation of Amazon cryptocurrency, and the year 2022 was on everybody's mouth.

## Who will be Amazon’s Crypto Head?

According to the job ad, the company searched for "an experienced product leader" to develop a roadmap for Amazon blockchain and cryptocurrency strategy.

It stated that the successful candidate would leverage expertise in blockchain, distributed ledger, central bank digital currencies, and cryptocurrency to drive the concept forward.

This step seems logical since other big fintech companies, such as Facebook, Visa, and Google, also recruited whole teams of experts charged with creating a new blockchain and crypto-related workspace.

## When Could Amazon Launch?

As we already mentioned, there were no official details on Amazon's possible launch date. However, 2022 was the year everyone mentioned when discussing the digital currency that would be standing shoulder to shoulder with Bitcoin and Ethereum.

There is already something called Amazon Coin; a virtual currency that can be bought on Amazon's website and then be used to purchase apps, games, and in-app items from the Amazon Appstore. Each Amazon Coin is worth $0.01 and can be bought in cheaper stacks on the Appstore app, Fire tablets, and the Amazon website. Still, it is not an Amazon cryptocurrency, per se, since these coins are non-refundable after purchase.

In the case of the actual company's cryptocurrency, the users should use it to shop on the Amazon website, trade with it, and, eventually, exchange it for other tokens.

Nowadays, the global finance industry deals with trillions of dollars daily, serving billions of users. However, the whole sector has problems with bureaucracy, high costs, frequent fraud, and constant delays. Third parties such as payment networks, stock exchanges, and money transfer services deal with crime daily. Therefore, the costs of regulation are rising as end-users ultimately bear the burden.

## Amazon to Sell NFTs Soon

Amazon admitted mulling similar projects in the past, even though these projects were rather understated than the one which wraps the Amazon cryptocurrency nowadays.

Amazon already has 'Amazon Managed Blockchain' service that, according to its webpage, "makes it easy to join public networks or create and manage scalable private networks using the popular open-source frameworks Hyperledger Fabric and Ethereum”.

However, the most recent reports show that Amazon is not even near adding cryptocurrencies as the payment option for its retail services but is interested in the Web3 space. Recently, company Chief Executive Officer Andy Jassy commented that even though developing an Amazon coin is not planned for the near future, there is a possibility for the company to sell non-fungible tokens (NFTs) on its e-commerce platform.


Status Quo on Amazon Cryptocurrency Development

When it comes to the most expensive NFT, one might wonder, "How high can the numbers get?". Here you can read about the top five priciest NFTs ever sold.

NFT stands for Non-Fungible Token -- bought and sold on exchanges and secured on the blockchain. First emerged onto the market in 2015, these most commonly art-form tokens have been around all this time. But it was 2021 when they got real prominence in the digital world. Below are the top five NFTs that cost a king’s ransom.

## The Most Expensive NFTs

With a massive rise in popularity, it’s not surprising to see some NFTs selling for thousands or even millions of dollars. Let’s start with the cheapest of the lot!
 
5. [CryptoPunk](https://www.larvalabs.com/cryptopunks) #5822 -- $23 million
On February 12, 2022, CryptoPunk #5822 became the most expensive CryptoPunk’s NFT ever sold when it racked up a huge $23.7m price tag. The alien-style punk featuring a blue bandana NFT has pushed the entire collection of CryptoPunk even further into the sky.

4. Beeple’s HUMAN ONE -- $28.9 million
Designed by [Beeple](https://www.beeple-crap.com/), HUMAN ONE was sold for a record $28.985m when auctioned on November 9, 2021. The NFT shows an astronaut walking through different backgrounds. What’s exciting about this NFT is that it will keep changing over time. Beeple doesn’t own this art, but he retains remote access to it for updates.

3. Clock -- $52 million
The third most expensive NFT ever sold is Clock which depicts a timer that counts the number of days Julian Assange, founder of WikiLeaks, has spent in prison. This NFT was sold for $52.7m to raise Assange's legal defence funds. The whopping priced NFT was ultimately purchased by AssangeDAO, a collection of 10,000 supporters who also own shares of the NFT.

2. Beeple – Everydays: The First 5000 Days -- $69 million
The second most expensive NFT is another high-grossing artwork of the famous artist Beeple. Everydays: The First 5000 Days was sold for an astronomic $69.3m price tag and brought the term "NFT" into the mainstream media and households worldwide. This NFT is a collage of 5000 individual NFTs created by Beeple for his Everydays series. It's also the priciest NFT ever sold to a single owner and is highly respected within the community.

1. The Merge -- $91.8 million
Finally, the most expensive NFT ever sold is ‘The Merge’ by Pak. It officially got the title on December 2, 2021, when 28,983 collectors pitched together for a total cost of $91.8m. The NFT contains three large white masses or dots against a black background. It was built on the scarcity mechanism that ensures its supply decreases over time, resulting in a higher mass value.
 
Without a doubt, [NFTs](/news/category/nft-news) are growing popular as time goes on. But this sparks the question: How high will the pricing ceiling be for NFTs? Of course, if you put your money into the right projects and be a little patient, you might find yourself with a nice little fortune down the road.
 
 

 



Most Expensive NFT Sold: Top 5 List

In early May, Chief Executive Officer (CEO) of [Meta](https://about.facebook.com/meta/) Platform Inc. (NASDAQ: FB) Mark Zuckerberg announced that there would be the testing of integrating non-fungible tokens (NFTs) on Instagram beginning within weeks.

It came just days after Meta announced that the photo and video sharing platform, Instagram, will be supporting NFTs from Flow, Solana, Polygon, and [Ethereum](/coins/eth) blockchains.

Widely used cryptocurrency wallets MetaMask, TrustWallet, and Rainbow will be the go-to wallets for Instagram in its journey of supporting digital collectibles.

Zuckerberg pointed out that the building of NFTs is not only intended to draw the company to the metaverse, but to expand its non-fungible token ecosystem to Meta's family of applications.

He added that after the successful integration of NFTs on Instagram, Facebook would be next in line to enjoy this feature.

## Why is Instagram’s Integration with NFTs important? 

As of March 2022, there are more than one billion active users of Instagram. Although NFTs were first created in 2014 and became popular in 2021, millions of people still ask questions about what digital collectibles entail.

Several people have heard about the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), CryptoPunks, Axie Infinity, NBA Top Shot, Meebits, Cool Cats, and CryptoKitties, but do not know how to get their hands on some of these collectibles.

Others have seen Beeple sell digital art for more than $69 million and could not wrap their head around such a news story.

Instagram NFTs will play an invaluable role in introducing billions of active platform users to several collections.

As of writing, popular NFT marketplaces known to stakeholders of digital collectibles include but are not limited to OpenSea, LooksRare, Rarible, and Nifty Gateway, among others.

The complexities of registering for a crypto wallet and using several digital currencies have not boded well for the adoption of NFTs by the mainstream.

With an Instagram NFT Marketplace, billions of users will trust Meta’s platform as one of the best NFT marketplaces to buy digital art.

One of the key areas you have to consider is the blockchains that Instagram NFTs will be integrating with.

As of May 2022, Ethereum is the [biggest NFT blockchain](https://cryptoslam.io/) by sales volume. Solana has surpassed Flow in terms of periodical NFT sales volume. Flow, the blockchain that holds NBA Top Shots, is in third place when sales volume is considered, and Polygon makes up the top 10 NFT blockchains by sales volume.

Should 100 million users on Instagram take a stake in digital collectibles, there could be an average of $100 million weekly sales volume from NFT art on Instagram alone.
This can contribute substantially to the more than $1 billion in volume recorded as total NFT sales weekly.

Finally, seeing NFT Instagram posts that entice people to buy using the three aforementioned crypto wallets bodes well for the adoption of digital wallets in the mainstream.

As of May 2022, TrustWallet had more than 5 million users, and MetaMask had more than 10 million active users. Although Rainbow wallet is relatively new, it continues to register new wallet addresses daily.

Instagram NFT Marketplace will see a minimum of 100 million users daily. This means that each crypto wallet can be projected to see five times the current number of users.

Once this happens, MetaMask might be soaring to around 50 million users, TrustWallet’s active users could reach 25 million, and Rainbow could see at least 10 million users in the long term.

## What next for Meta Platforms Inc. and NFTs? 

Aside from Instagram, WhatsApp, and Facebook are part of the Meta family. Per the words of Mark Zuckerberg, the success of Instagram NFTs will lead to the integration of Facebook into other NFT blockchains.

Once that is successful, there is a huge chance that WhatsApp could be next to join the non-fungible token (NFT) train.

As of writing, WhatsApp and Facebook have almost 5 billion daily active users.

With billions of people relying on Facebook ads to promote their products purchased by billions of people, NFT ads could be seeing the same reaction.

In the end, digital art from millions of developers could rake in billions of dollars in sales volume.

The resultant effect of this will be a positive reflection in cryptocurrencies backed by NFT projects.




	


Instagram to Start Testing NFTs in May

NFT art finance is under the microscope due to the explosion of interest in non-fungible tokens (NFTs).

Investors are rushing to the trend-setter, but you need to think about the pros and cons before putting your money in.

As an asset class, NFTs are easy for everyone to invest in and ownership of an NFT is highly protected by the blockchain technology used.

## What are the Downsides?

NFTs require an energy-intensive operating protocol:

Ethereum blockchain is chiefly used to support NFTs. That means they need Proof of Work (PoW), an energy-intensive protocol. The electricity required for a single NFT transaction is almost equivalent to the electricity used by a home for a day or two.

## NFTs are an asset class:

As ownership of an NFT is represented as asset ownership, the value of your investment is exposed to market forces. High levels of interest in NFTs have seen values rise impressively, however, you could see the value of your asset diminish should the hype fade.

### [Ether (ETH)](/coins/eth):

While there are other ways emerging, many NFT transactions, because they are based on the Ethereum blockchain, require the use of Ether (ETH). That, of course, requires you to have ETH in order to buy.
And the Upsides?

### Blockchain Confidence:

Your ownership of the NFT is protected by blockchain technology. This makes NFTs feel like more secure and reliable investments, giving buyers confidence.

### Easy for All:

As these digital assets are tokenised, it means NFTs can be easily and effectively traded by people all over the globe. It makes this investment accessible and straightforward.

A wise investor will always look at the positive and negative sides of every story. While NFTs are a relatively new phenomenon, there is plenty of information about the pros and cons of NFT art finance out there for you to research.

Have a strategy for your investment and accept that there is a level of risk with every investment, even something so seemingly fool proof as NFTs.
 
 
 
 
 



Latest Moni

Digital Art News

Read the latest Digital Art news.

Cardano NFT Marketplace Options for You

Review the Best Solana NFT Marketplace Options

Fall Out Boy NFT. What Happened?

Ebay Buys KnownOrigin For An Undisclosed Amount

MoonPay launches NFT Platform

NFT Collaborations and a Better Future

Is a Free NFT Giveaway Legit?

Pi Network News: Pi Going Global?

FTX vs Binance clash: Binance to liquidate funds