The Angry Cats NFT collection is one of the most popular around. The [NFT collection](/news/article/nft-market-2023) comprises a set of 10,000 different cats that represent a cultural identity. The NFTs were launched on Ethereum (ETH) in September 2022 and are part of the profile picture (PFP) category. 

We analysed purchase records of the NFTs and determined that its total trading volume and the number of sales have been exceptional lately. 

 ![angry cats nft homepage](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_03_30_at_11_39_35_a80aa596a9.png)


## What is an Angry Cat? 

An [Angry Cat](https://angrycat.io/home) understands the basic emotion of anger that every human has likely experienced in their lifetime. Angry Cats not only understand this emotion but identify with it and accompany their human companions on their respective journeys, helping them conquer their anger and realise the fruits of their struggle. 

 ![kitties land nft website page](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_03_30_at_11_39_43_0dfc783b6f.png)

Your Angry Cat will stick with you through thick or thin. It will help you fight this emotion and cross all the hurdles life places on your path to success. As the website mentions, "Together with the fighters, we break the rules, meow or never"! Quite catchy. 

Built on ERC-721W technology, the implementation complies with IERC721 technology. Bluechip NFT holders will thus receive signature-free whitelisted secure mint solutions in the case of a new launch. Another interesting feature is Build Home, which we will explore later. 

First, let us understand the basics of the NFT collection. 

## Angry Cat basics and analytics 

As mentioned earlier, there are 10,000 Angry Cats NFTs. According to [OpenSea statistics](https://opensea.io/collection/angrycat-official/analytics), the total trading volume at the time of writing is 1,722 ETH, with a floor price of 0.0648 ETH. Currently, 245 NFTs are listed on OpenSea, or around 2% of the total supply, with 17% unique owners of the circulating collection. 

 ![angry cats nfts on opensea website](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_03_30_at_11_39_49_678132227a.png)

The creators of the NFTs receive 7.5% of earnings. [To purchase an Angry Cat](/news/article/guide-to-minting-nfts-opensea), hover your mouse icon over the PFP art of your fancy, and click on Add to Cart. Click on the cart icon and complete the purchase. You can complete the payment via crypto or credit/debit card. 

Once the payment is complete, you can send the NFT to any Ethereum-compatible wallet. MetaMask is one of the best options available for the same. 

When purchasing an NFT, it is important [to analyse](/news/article/nft-tax-uk-rules-explored) the short and long-term potential of the collection as a whole and to identify the NFTs with special features that may make them more valuable than others in the future. Angry Cats, for example, has a vibrant community on Discord and more than 60k followers on Twitter! 

 
![angry cat tweet](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_03_30_at_11_39_57_4f7688a589.png)

Source: Twitter (@angrycat_nft) 

Talking of Twitter, the collection's recent partnership announcement with Conflux Network made waves. It was one of the Twitter handle's most-viewed tweets of all time. You should gauge the potential of such partnerships, for example, when making an investment decision. 

This partnership announcement was one of the primary reasons why the total trading volume of the NFT collection rose nearly 500% between 13 February and 13 March, 2023 (the partnership was announced on 23 February). Total sales increased by over 700% in the same period! 

Currently, E16A30 holds the most Angry Cats, with 299 NFTs to this name, or in other words, 2.99% of the total supply. Four other collectors hold three-digit figures from the digital art collection. Another feature of interest is the collection’s Build Home facility. What is it exactly? 

## Angry Cats: Build Home feature 

The Meow Castle program (as the Build Home feature is called) launched on 10 December, 2022. To access the feature, you must first connect the wallet in which your NFT is present. You can now stake your digital collectible to receive staking rewards in the form of W, an ERC-1155 token. 

The staking velocity steadily increases with the number of days you stake your NFT for. For one to three days, for example, you will receive 0.02 W per day. This number increases to 0.1 W per day if you stake for 19 days or more. 

Rare elements will receive a bonus of up to 18% per day. Bonus traits include Copper Badge, Gold Badge, Patch, Paint, Panda, Cold Machina, Royal Machina, Rainbow Coral, Topless, and a couple of Eye features. The deflation rate of W is 10% every couple of months. 

The token can be traded on [secondary markets such as OpenSea](/news/article/opensea-nft-lays-off-employees). Additionally, W holders receive perks such as Angry Cats-related addresses and domains in the future, the opportunity to participate in derivative projects, free use of the paid features of projects it is in a partnership with, etc. 

It should be noted that W holders will receive an additional staking income of 30-50%, based on the royalty of other projects obtained through Angry Cats’ investment banking business model (exit, market making, issuance). As always, you must DYOR and ask all the right questions before making an investment decision. 

While an Angry Cats NFT is [relatively cheap](/news/article/bored-bunny-nft-price) at the moment, you must ask yourself whether it is worth purchasing one or more. 



pink image of cats  and angrycats NFT paw in front of nft sign

Angry Cats NFT Collection: Should You Buy?

It is one of the most familiar names in the NFT space, but what is the real story behind the Pudgy Penguins brand, and what does the future look like?

Pudgy Penguins are a collection of 8,888 NFT pieces of digital artwork revolving around, you guessed it, penguins. Released by eponymous developer ColeThereum in July 2021, the collection gained notoriety with its rapid price rise through the bull market of that year.

Within weeks the original mint had quickly sold out, with those clamouring to get involved resorting to the secondary NFT market on OpenSea. With an outstanding level of community support, the highest price paid for a Pudgy Penguin occurred in September 2021, reaching 225 ETH, or close to $1 million at the time.
So that leaves the question, where are we now? Is there still demand for the collection given the recent downturn in the crypto market? If so, what does the future hold?

## Brand potential

After a tumultuous 2022, it looks as if PP fortunes may be about to revive. The hype surrounding NFT started to die off once the crypto market took a trip to the downside - none more so than Pudgy Penguins. In this increasingly hostile and fraught environment, suspicions began to rise regarding the morality of creator ColeThereum. With whispers of his involvement in previous rug pulls and scams, fears were finally confirmed in late 2021 when it was [revealed that the founding team had emptied the project of funds](https://nftevening.com/pudgy-penguins-founders-cancelled).

The resulting fallout saw ardent community member 9x9x9 publish a blizzard of tweets accusing the founder and his support team of underhand activity and scamming the community. As the debate wore on, 9x9x9 revealed that the team had turned down his offer to buy the IP to the collection for 888 ETH. However, despite this knockback, another community member stepped forward and declared his interest with a deal completed in April 2022, which saw complete titular leadership of the brand [handed over for the princely sum of 750 Ethereum](https://dappradar.com/blog/pudgy-penguins-thrives-with-new-owner-luca-netz).

The new owner, Luca Schnetzler, declared his admiration for the brand and revealed he was a long-term fan of the project and the community. Schnetzler went on to say, “Pudgy Penguins was my first PFP NFT, and I knew when I first bought it that Pudgy Penguins had the highest upside when it came to brand potential. When I saw other people bidding on Pudgy Penguins, I knew I had to step in. I’ve built multiple brands to nine figures in revenue over the last five years, and I felt like my skill set was the best to succeed at the job.”

## Meme potential

With many holders using their coveted Penguin as an online flex, there has been much speculation over the appeal of this artwork. Their simple and unique features have created a legion of followers seduced by the plain yet serene nature of the NFTs. Although the original design team of four sought to remain anonymous, the New York Times did what they do best and revealed their identities at the peak of the NFT hype.

The four Computer Science undergraduates behind the brand were led by a head honcho MrTubby, also known as Clayton Patterson. In an interview with the newspaper Patterson revealed the reason for the project's creation, saying, "There was a huge meme potential in fat-looking penguins, so we decided to roll with that". 

While other NFT projects opted for a more serious approach, the Pudgy Penguin collection decided to lean heavily into memeology. Based on the Claymation adventures of popular children's cartoon Pengu, the Pudgy Penguins are helping to develop much-needed innovation within the Web3 ecosystem.

## ‘Feel-good factor'

And so, from being on the brink of capitulation, it seems the well-loved NFT brand is finally back in a happy and confident place. In the weeks following the deal, the newly installed team at Pudgy Penguins has been hard at work rebuilding the brand image and increasing the levels of community engagement. Schnetzler believes this is partly due to the project's 'feel-good factor', which helps "uplift people and make their day a little easier".

Whatever the reason, the process appears to be working as interest in the brand continues to evolve. From a floor price of 1.7 ETH in August 2022, the new team at the helm has managed to drive an increase of some 400% to a peak of 6.9 ETH in early January this year. This price surge has made many people sit up and take notice. 

Many believe the Penguins are leading the charge in a resurgent interest in NFTs.

Whatever the future, due to their versatility and wide-ranging use cases, NFTs look like they are here to stay. The ability for anyone to design, create and publish an NFT on platforms like [OpenSea](/news/article/guide-to-minting-nfts-opensea) means the appeal is assured and sustainable. And with values rising by the day, now could be the time to invest.


pink image of pudgy pengiun nft on pink background

Pudgy Penguins - Is the Hype Worth the Price?

Reddit NFT continued to trend online in December 2022 due to its massive impact on the non-fungible token (NFT) market. It is a kind of avatar that can be bought on the Reddit marketplace. Launched in July 2022, the Reddit NFT marketplace provides users of Reddit (a popular network site where contents are shared and various topics discussed), known as Redditors, a platform to buy blockchain-based images for a set price.

## What are some of the types of Reddit NFT? 

Unlike NFT projects such as the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherside for Otherdeeds, which is backed by a huge developer like Yuga Labs, Reddit has forgone mainstream companies. Instead, Reddit has partnered with several independent artists to create diverse designs which can be patronized by the billions of people across the globe that visit Reddit.com.

Despite several NFT types on Reddit, the main and exclusive NFT collection launched by the popular networking site is CryptoSnoos.

Like other NFTs, CryptoSnoos has different features that help determine scarcity. CryptoSnoos are grouped into Rare, Epic, and Legendary. While Epic CryptoSnoos NFTs are limited and Rare CryptoSnoos NFTs are extremely limited, Legendary CryptoSnoos NFTs are unique. This is why prices of Legendary NFTs are higher than Epic and Rare NFTs. 

## What blockchain houses the Reddit NFT

The team behind the NFT chose Polygon to house the digital collectibles. Polygon was selected because it is a layer 2 scaling solution that has found an answer to the blockchain trilemma of decentralization, security, and scalability. Once a particular protocol finds an answer to the blockchain scalability problems, transaction costs related to the use of blockchain are reduced to the barest minimum.

As of 17 December, 2022, collectibles on Reddit have contributed to the [$40 billion](https://www.cryptoslam.io/blockchains/polygon) in sales Polygon-based NFTs have generated in the six months to December. In addition to Reddit collectibles, some of the avatar collectibles minted on Polygon include, but are not limited to, Doodle Collection, Cute Snacks, and 5 Boro Bodega. 

As of December 2022, the total sales volume from Reddit collectible avatars was [$11.95 million](https://dune.com/polygon_analytics/reddit-collectible-avatars), and there were more than [four million collectible avatar holders](https://dune.com/queries/1428687/2423544). There are more than four million single collectible avatar holders, and more than five million [collectible avatars](https://dune.com/queries/1428579/2423370) are in the market.  

## Where to buy NFTs from Reddit?

NFTs can be bought and sold on different NFT marketplaces. While some of the best NFTs to invest in can be found on multiple platforms such as Nifty Gateway, LooksRare, Rarible, and X2Y2, the best NFT marketplace to buy digital images is OpenSea - aside from Reddit’s marketplace. Bank cards can be used to buy NFTs on Reddit, but OpenSea is crypto only.

Before you purchase digital art that can be used as a profile picture on your social media channels on OpenSea, you need to have a crypto wallet. Some of the crypto wallets that support
OpenSea includes Rainbow Wallet, MetaMask, Coinbase Wallet, and TrustWallet. Since the digital collectibles are housed in the ecosystem of Polygon, you need the native asset of Polygon, MATIC. You can also hold Ether (ETH), the native asset of Ethereum, since most of the NFTs sold on OpenSea are priced in that cryptocurrency.

Once you have MATIC, you can connect your wallet to OpenSea, search for NFTs with links to Reddit, make a purchase, and your digital collectible with be deposited into your crypto wallet. 

## Conclusion

NFTs by Reddit continue to see huge liquidity due to the popularity of Reddit as a networking website. As a result, you can invest in the NFTs with an eye on future sales due to the increasing usage and patronage of Reddit and its collections.

But, like all investments, you should consider the pros and cons of investing in digital collectibles from Reddit before you risk your hard-earned money on digital collectibles. 


Reddit NFT: What is it and where can I buy one?

CloneX has broken ranks in just 12 months to become one of the ten best-selling NFTs by all-time sales volume. It has generated approximately [$775 million](https://www.cryptoslam.io/clonex/sales/summary) from December 2021 to date, data from NFT aggregator CryptoSlam shows.

While many articles online continue to give a vague explanation of what the NFT is, there is more to CloneX than just being pieces of digital art in the blockchain technology of Ethereum. 

Launched in November 2021, CloneX NFT comprises a collection of 20,000 3D avatars called clones, designed with a broad focus in mind. The 20,000 3D anime avatars, the size of profile pictures (PFPs), come in eight deoxyribonucleic acid (DNA) types.

The DNA types are Human, Murakami, Demon, Angel, Undead, Robot, Reptile, and Alien. Among them, the alien DNA subtype is the rarest. It has 15 to 50 avatars, representing just 0.075% to 0.25% of the total collection.

The second rarest clone comes from Murakami. Murakami clones came about in October 2021 when [RTFKT](https://twitter.com/RTFKT/status/1454101172265132039?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1454101172265132039%7Ctwgr%5E3d3022ef7bf58e92ab668e68cc3d0c67025c1478%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnftnow.com%2Fart%2Frtfkt-partners-with-takashi-murakami-clone-x-project%2F) announced, via its verified Twitter account, that it had partnered with Japanese pop art sensation Takashi Murakami for its CloneX avatar project. Murakami raised the project's profile due to his more than 300,000 Twitter followers being exposed to CloneX NFTs. 

While half of the NFTs (about 10,000) are Human DNA subtypes, three-tenths (around 6,000) are Robots, and two-tenths (roughly 4,000) are Undeads, Reptiles, Demons, and Angels. You should note that a tiny fraction of the Human DNA subtype possesses the "vitiligo" trait. This is a disease that causes patches of skin color loss that became synonymous with pop icon Michael Jackson.

Each of the 20,000 clones is also a turnkey. Thus they are ready to be used with the global fashion brand Nike and with RTFKT Studios, which employs the latest Web3 technology to create digital artifacts such as one-of-a-kind sneakers' Metaverse.

The Metaverse is what many analysts in the computer industry believe is the future of the internet as a single, universal, and immersive virtual world facilitated via the use of augmented and virtual reality headsets.

## Is CloneX NFTs' success down to Nike and RTFKT? 

Like other digital collections in the NFT sector, CloneX NFTs would have remained unknown for some time without its direct links to the global reach of Nike since the NFTs are made by RTFKT (pronounced artifact).

[Nike acquired RTFKT Studios](https://nftnow.com/news/nike-acquires-rtfkt-nft-studios/) in December 2021. President and CEO of Nike, Inc., John Donahue, said of the acquisition that Nike planned to invest in the RTFKT brand so that Nike's digital footprint and capabilities could be extended in the NFT sector.

Many industry experts expect the digital footprint to include the Metaverse, which has been forecasted to reach [$824.53 billion](https://www.prnewswire.com/news-releases/metaverse-market-size-worth--824-53-billion-globally-by-2030-at-39-1-cagr-verified-market-research-301585725.html) by 2030. 

Nike's acquisition of CloneX maker RTFKT impacted sales of the NFT, which soared in December 2021 to reach approximately [$187 million](https://www.cryptoslam.io/clonex/sales/summary?groupingtype=daily&month=2021-12) from the activities of 3,785 unique buyers and 3,025 unique sellers who contributed to 6,482 transactions. 

The average sale value of CloneX NFTs during the last month of 2021 was $28,867. Monthly sales volume for December 2021 remains at its all-time high, and that figure is still higher than the total sales volumes of MekaVerse, NFT Worlds, Adidas Originals, Okay Bears, Invisible Friends, Ethereum Name Service, Cool Pets, Gods Unchained, and World of Women Galaxy, as of 8 December, 2022.

## Nike impact on the NFT sector aside from CloneX NFTs

Nike Inc. filed for a patent for its blockchain-compatible sneakers dubbed [CryptoKicks](https://thenextweb.com/news/nike-blockchain-sneakers-cryptokick-patent) in 2019. The patent was officially issued in December 2019 by USPTO (the United States Patent and Trademark Office).

With this patent, Nike can use the possibilities of blockchain technology through cryptography to tie digital assets to a physical product. Nike took advantage of its partnership with RTFKT by launching RTFKT Nike Dunk Genesis CryptoKicks, a collection of 20,000 NFTs, in April 2022.

As of 8 December, 2022, the collection has generated more than [$19 million](https://www.cryptoslam.io/mnlthrvld/sales/summary) in all-time sales and falls into the top 300 NFT collections by total sales. CryptoKicks and other NFT activities which involve Nike have contributed to Nike Inc. topping a list of NFT brands by total NFT revenue. 

As of 8 December, 2022, Nike NFT revenue was [$185.74 million](https://dune.com/kingjames23/nft-project-possible-data-to-use), seven times more than second place Dolce & Gabbana, which had $23.69 million.
 
Nike took another step into Web3 and the Metaverse by filing three trademarks for its [DOTSWOOSH](https://twitter.com/KondoudisLaw/status/1594657887367925760) in November 2022 with the USPTO. The applications cover virtual, crypto goods marketplaces, virtual footwear, clothing, sports gear, and custom manufacture of real-world versions of digital footwear and apparel, among others.

## How do I get CloneX NFT?

CloneX NFTs can be found on NFT marketplaces such as LooksRare and [OpenSea](/news/article/nft-hackers-passports). Since OpenSea is the largest NFT marketplace by volume, we would like to direct you on how you can get the Clone digital collectibles on the platform. 

Firstly, you must create a crypto wallet that will store your NFTs. Several wallets support OpenSea, such as TrustWallet, Coinbase Wallet, Rainbow Wallet, and MetaMask. Once you create a wallet, private keys ranging from 12 to 24 words must be stored appropriately, and you need to buy ether (ETH). 

As the second step, ETH is the native asset of the [Ethereum](/news/article/ethereum-the-merge) ecosystem and oversees all transactions on the blockchain. CloneX is Ethereum-based and therefore needs ether to facilitate the transaction on OpenSea. Once you have ETH deposited in your wallet, you can connect it to OpenSea. 

On OpenSea, you can search for CloneX and buy one of the 20,000 NFTs available for sale. Once the purchase is complete, the CloneX NFT purchased will be deposited directly into your [crypto wallet](/news/article/tony-fadell-launches-crypto-wallet).



pink image of Clonex logo on pink background image of Anime girl NFT

Are RTFKT and Nike Behind CloneX NFTs Success?

Are you desirous of joining the non-fungible token (NFT) revolution and looking for the largest NFT marketplace fit for your design or artwork? Don’t worry; we’ve got your back. 

Whether you’re an artist, designer, or creative, there’s an opportunity in NFT space waiting to be exploited – if you play your cards right. 

According to an October 2021 [Bloomberg report](https://www.bloomberg.com/news/articles/2021-10-29/here-s-a-532-million-nft-trade-that-wasn-t-what-it-appeared?leadSource=uverify%20wall), CryptoPunk #9998 is the most expensive NFT ever sold at $532 million. 

There are many other success stories. However, your financial success story as an NFT creator begins and ends with exploring different NFT marketplaces and selecting one that fits your NFT. 

## Choosing the largest NFT marketplace

NFT marketplaces, often referred to as the eBays and Amazons of the digital world, are gateways for anyone interested in buying or selling the latest digital assets, from music to works of art or digital land. Just like traditional markets, there are dozens from which to choose. Since you need one that caters to your specific niche, we have compiled a list of largest NFT marketplace options to help you decide.

## OpenSea

The popular [OpenSea](/news/article/haas-f1-opensea-collaboration) is the largest NFT marketplace. 

Founded in 2017, it currently supports ETH, $MATIC, and Klatyn blockchain. OpenSea features all categories of NFTs, including digital art, utility, collectibles, music, sports, and virtual worlds. Users can trade leading NFT projects like Decentraland and CryptoPunks. The platform's mining tool is its most fantastic selling point, enabling content illustrators and creators to develop and create their own NFT collections.

Also, users can mint NFTs directly from their websites onto the Ethereum blockchain, meaning they can convert their artwork now with the click of a button.    
 
## Pros 

•	Creators don't pay gas fees until they sell.

•	Limitless choice of NFT collectibles.

•	Different payment options.

•	Compatible with iOS and Android OS devices.

•	Supports up to 14 crypto wallets.

## Cons 

•	10% royalty paid is relatively low.

•	Doesn't support fiat currencies.

## Rarible 

As a community-owned NFT marketplace on the Ethereum blockchain, [Rarible](/news/article/rarible-nft-marketplace) dramatically emphasizes the social aspect of its business and allows users to track their peers’ general activity. The platform enables users to create ERC-721 tokens besides being able to add royalties or build smart contracts as miners. Moreover, Rarible offers a unique regulatory crypto called $RARI, which users can earn via weekly pay by interacting on the platform by buying or selling NFTs.   

## Pros 

•	Artists can pick up to 50% of their future income.

•	Easy-to-use marketplace with a user-friendly interface.

•	Hassle-free NFT creating and selling.

## Cons 

•	High gas fees.

•	Unresponsive customer support.

## NBA Top Shot 

A brainchild of the NBA and Women’s NBA, the NBA Top Shot is famous for tokenizing all NBA top players by recording their different outstanding performances into NFTs as cards. 

NBA Top Shots runs on the Flow Blockchain from Dapper Labs. That platform that runs as a private NFT marketplace gives users the right of ownership and credibility besides allowing them to trade NFTs on the site.

## Pros 

•	Flow blockchain is cheaper than Ethereum.

•	Best for people using debit/credit cards.

•	NFTs have a great resale value. 

•	New NFTs released often.

## Cons 

•	Limited cryptocurrency support.

•	The project is still in its infancy.

•	It only deals with NBA stuff. 

## SuperRare

Like the name sounds, SuperRare is an NFT marketplace dedicated to unique NFT collectibles. The platform that has distinguished itself as the upmarket alternative of Rarible presents a polished user interface that's extensively curated, giving it a minimalist appearance. SuperRare pays out 85% of NFTs' total sales price to artists and keeps 15% as fees, while creators receive a 10% royalty on all their secondary sales. 

Buyers pay a 3% transaction fee for every transaction, and all payments are made using Ether (ETH).

## Pros 

•	Offers exclusive NFTs.

•	Excellent user interface.

•	High royalty fees.

## Cons 

•	High commission rate at 15%.

•	Only accepts ETH as payment.

## NiftyGateway

NiftyGateway partners with businesses and leading artists to create NFT collections called Nifties that users can transfer to their crypto wallets and personal collections or display on the Metaverse. The platform is ideal for users who make or trade top-of-the-range exclusive NFTs. Individuals buying exclusive NiftyGateway NFTs are assured of a high-end market offering limited edition collectibles. Nonetheless, leading projects like Bored Apes and CryptoPunks don't feature due to many existing restrictions.  

## Pros 

•	Custodial marketplace.

•	Best for newbies without technical skills.

•	Allows using credit/debit cards.

## Cons 

•	It doesn't support crypto wallets.

•	Exclusive for influential artists.

## Foundation

Foundation NFT marketplace aims to advance the digital art and cryptocurrency culture by making it easy to trade, besides promoting disadvantaged users. The platform primarily focuses on art projects, and the leadership team is famous for holding live auctions that streamline the bidding procedure. 

Foundation gives creators 85% of the NFT sales price and keeps 15% as commission, while artists are given a 10% royalty. You may want to know that [Nyan Cat NFT](https://www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html#:~:text=In%20the%20final%20hour%20of,Roughly%20%24580%2C000.), a renowned NFT, was sold on Foundation.

## Pros 

•	Easy-to-use interface.

•	Artists receive a 10% royalty fee.

•	Runs an auction systems.

## Cons 

•	Invite-only platform.

•	High commission rate.

•	High gas and minting rates.

## Binance NFT

Binance is a world-class crypto exchange that launched an NFT platform in 2021. It has become a popular contender due to its diverse Metaverse collectibles. Despite being a new digital asset marketplace, Binance already features over 800 creators and a massive following of collectors. While users in other platforms pay between 2.5 and 5% transaction fees for secondary and up to 5% on primary transactions, Binance charges 1% and avails numerous payment methods. However, sellers receive only 1% as royalties.    

## Pros 

•	Highly trusted in the crypto sphere.

•	1% transaction fee for sellers, buyers, and traders.

•	Free account creation and verification.

•	Easy-to-use interface.

## Cons 

•	Both buyers and sellers pay the fee.

•	New entrant and lacks rarest NFTs.

## How to choose the largest NFT marketplace

The best way to choose the largest NFT marketplace starts with deciding which category of digital asset you want to create, buy or sell. Since NFTs represent anything from videos, collector items, written word, music, and more, narrowing your area of interest and considering the type of token supported are good starting points. Moreover, confirm a platform's security protocols and whether it's had any [breaches](/news/article/nft-hackers-passports) in the past.


Pink Image of Person Making an NFT with Marketplace Icon overlayed

Largest NFT Marketplace Options in 2023

Wondering how to find new NFT projects you can invest in?

Most popular NFT collections rely on hype, so getting in early is the only way to get the best deal. However, [investing early](/news/article/buy-nft-market) means that you are taking considerable risks. So, if the project goes bust, you will be left holding the bag.

Most NFT scams are usually quite elaborate and may be challenging to identify. Therefore, you should understand how to source for new projects and avoid scams.

If you invest right, you will get tremendous gains on your investment. This article will give you key points on how to find new NFT projects and avoid scams.

## How to find new NFT projects

In this section, we cover the best way to find new NFT projects from credible sources.

## Scout Twitter feeds

[Twitter](https://twitter.com/) is one of the best places to get information on all things crypto, NFTs included. When used right, you can get the inside line on emerging projects before they reach mass adoption. By the time of mass adoption, the token value will have doubled, and you've made your gains.

However, scouring Twitter can be challenging, especially if you are not an active platform user. Try to learn how to identify trends and crypto influencers.

First, find an NFT community. You can do this by following known crypto figures and established NFT brands. Within the community, you will get access to the latest news and announcements on established and up-and-coming NFT projects - some of which also host Twitter space and live Q&A sessions.

We recommend that you follow [@monineversleeps](https://twitter.com/monineversleeps) for reliable news and updates.

A word of caution: Just as you find great projects on Twitter, you can also stumble on scams masquerading as [free giveaways](/news/article/free-nft-giveaway-legit). Ensure you do your due diligence before investing in any new NFT project.

## Join Discord servers

[Discord servers](https://discord.com/servers) are like chat rooms for nerds. They are a great source of information and a great meeting place. If you want to connect directly with NFT community leaders and get updates on upcoming collections, you need to join the right communities.

Some NFT communities also invite you to provide discord servers when you invest in their collections. You can get the inside scope on upcoming NFT launches within these invite-only servers.

The best thing is that Twitter and Discord work well together when it comes to finding new NFT projects. Crypto influencers can direct you to great Discord communities based on their niches. In turn, you can find great Twitter profiles from the Discord channels.

A side note: Just as we warned about scams on Twitter, there are also scammers on Discord. Some of them create usernames that are identical to those of verified community members. So remember to verify twice before engaging in a conversation with another outside an authorized discord server.

## Surf OpenSea

[OpenSea](https://opensea.io/) is one of the biggest platforms for minting and selling non-fungible tokens. It provides a user-friendly platform for beginners and experts to create NFT within minutes. It even offers a mobile app to browse its hidden collection of NFTs on the go.

OpeanSea is the launchpad for many of the most significant NFT projects, including CryptoPunks, [Bored Ape Yacht](/news/article/bayc-derivatives-explored), and Doodles. So if you are seeking a platform to get NFTs before they hit their all-time high (ATH), consider getting an account on OpenSea.

Plus, you can access multiple NFTs from multiple blockchains. In addition, the platform allows you to bid for NFTs, track the price of each one and analyze the market trends.

## NFT news and resources

While social media and communities are great for finding new collections, you need expert insights to be well-rounded. This area is where news aggregators and blockchain learning resources become essential.

News aggregators will help you stay updated on the latest news and trends in the crypto space. These include news on up-and-coming projects, updates on existing projects, and analysis of some of the significant events happening in the crypto space.

[Blockchain learning resources](https://gist.github.com/65cdfe2f7fa1f84b4914f188d49d5323) might not directly help you find new projects. However, they provide background knowledge that helps you understand the tokenomics of new collections. That way, you can tell the good ones from the wrong investments. Many blockchains and wallets offer free academies and tutorials to brush up on your knowledge and insight into crypto.

## Do your own research (DYOR)

It is essential to filter NFT projects to get credible projects from the scam projects. Many NFT analytics tools can help you better evaluate the NFT and determine if it is a good project. Some of these tools are:

•	Upcoming NFT: This website tool shows you the presale, mint date, price, and community strength of NFTs. Focus on the closed or yet-to-be-announced collections to find great projects before they go live.

•	NFT Watcher: This is a great tool that notifies you of new drops. Check through the 'newly listed drops' section for rare gems.

•	Rarity Sniper: Rarity Sniper is an excellent tool for anyone who wants to get rare collections before they go mainstream.

•	NFT Calendar: This popular tool gives you timely information on NFTs in a simple interface. It shows real-time tracking of how many NFTs are minted by the day or on a blockchain.

•	Oxalis: This tool is like NFT Calendar but for gamers.

## Wrapping up

Finding NFT projects is like going on a treasure hunt. With the right tools and information, you can find a rare gem that will blow up your investment portfolio.


pink abstract image of person finding NFTs

How to Find New NFT Projects Early

Presently selling at 9.49 SOL, the Bored Ape Solana Club (BASC) NFT is the first platform to implement the Proof of History protocol. In this article we take a look at the club's origins, how it works, and how it is doing now.

## What exactly is BASC?

[BASC](https://boredapesolana.club/) is a community-run Solana NFT project with 6,000 hand-drawn bored apes that do not correspond to any Ethereum BAYC NFTs.

## How it all started

BASC first launched a stealth mint on 4 January, 2022. On 13 January, 30 minutes after completing 100% of the mint, the collection went live on Magic Eden.

Bored apes were selling for 50+ SOL 48 hours after the launch, while the floor price had risen to about 10 SOL.

![boredaoe1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/boredaoe1_1da6582a81.png)
 
Contrary to what anti-BASC trolls predicted, it retained a 20 SOL floor price after only three days of being posted live on Magic Eden and was trending as the top NFT collection on bored apes 48 hours after the debut, while the floor price had climbed to roughly 10 SOL.

Since then, these Solana NFT collectibles have already achieved significant milestones, including crossing the $10 million market cap threshold.

[BASC](/news/article/how-to-buy-monkey-nft) also uses a novel Proof of History algorithm to process up to 10,000 transactions per second.

BASC NFT is listed on [MagicEden](https://magiceden.io/marketplace/bored_ape_solana_club), [OpenSea](https://opensea.io/collection/bored-ape-solana-club), [Solanart](https://solanart.io/collections/basc), and WeYu. However, to own these collectibles, which grants you many benefits, you must have a [Phantom Wallet](https://phantom.app/) installed and linked with Solana. You can now [head to claim artwork (PFP)](https://www.basc.app/frame/) and follow other instructions.

Similarly, you can exchange another NFT for a bored ape in only four easy steps.

![boredape2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/boredape2_85378e8de9.png)
 
Following your confirmation that you are [trading](https://www.yawww.io/) for a valid BASC NFT, which will contain a check for the collection, you must link your Solana wallet, put in an offer, agree to the terms of the trade, and then wait for the buyer(s) to respond before concluding the transaction.


Bored Ape Solana Club Explored

Unless you've been living in space, there's every chance you've heard about the millions of dollars made from minting NFTs. Whether you're a newbie intrigued by the whole idea or an expert seeking to showcase your artistic prowess, minting NFTs is your chance to digitally immortalize your souvenir on the blockchain or make a fortune. We're about to show you an easy, breezy process for creating NFTs.

## Introduction to minting NFTs

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain having unique metadata and identification codes that differentiate them from each other. Owners have total control over their tokens and can transfer to others or sell them on an NFT marketplace.

Even if you have zero knowledge of NFTs and blockchain technology, here is a hassle-free way to mint NFTs.   

## Step 1: Select an NFT marketplace

Begin by researching the [different marketplaces](/news/article/solana-nft-marketplace) available online to find the appropriate one for your NFT. Among the leading marketplaces are [OpenSea](https://opensea.io/) (Ethereum blockchain), AtomicHub (Wax blockchain), and [Rarible](/news/article/rarible-nft-marketplace) (Flow blockchain). OpenSea is popular among novices and charges a one-time fee for initializing your account the first time you list your NFT. However, note that only select marketplaces use other blockchains, meaning the exercise should be simple.  

## Step 2: Set up a crypto wallet 

A [crypto wallet](/news/article/crypto-wallet-multiple-currencies) is the equivalent of a bank account where you store digital assets like NFTs that you mint or buy. Apart from holding your private keys (password), a crypto wallet safeguards your crypto assets and makes them accessible – crypto wallets can be either physical or digital. Ensure that your chosen wallet is compatible with your selected NFT marketplace's blockchain. Popular examples are Coinbase and Metamask.    

## Step 3: Connect your crypto wallet to a marketplace

Once you've set up your crypto wallet, it's time to connect it to the desired NFT marketplace. If you choose to sell your assets on [OpenSea](/news/article/haas-f1-opensea-collaboration), visit the website and click "create". You'll be directed to a tab showing a list of all the wallets compatible with the marketplace. Select the digital wallet you intend to connect with your OpenSea account – your wallet is now plugged in and ready for NFT trading. 

## Step 4: Create your NFT 

We're now at the heart of the matter – minting your NFT. If you get it right and luck is on your side, you could, just like other NFT traders, change your life overnight!   

From your browser, search for the OpenSea website, go to "My Collections" in the top right-hand corner of your profile and click on "Create a Collection." Follow these steps to create your first NFT:  

Enter the required details to be able to upload the item you wish to sell as an NFT. Choose the file format and name, and add external links to your social media outlet and an appropriate description.   

Select the blockchain you desire to mint your NFT (Ethereum in the case of OpenSea). Carefully verify that all the information you entered is correct (there's no going back after this step), and click on "Create".

Congratulations! You just created your NFT, and it's ready for trading. 

## Step 5: Decide on a pricing strategy

The three main ways of setting prices for NFTs are:

•	Fixing the price – fix a price and place it next to the item.

•	Timed auction – put your NFT up for auction for a predetermined period.

•	Bidding – allow interested buyers to bid to buy it.

## Step 6: Minting NFTs 

Minting NFTs is converting your idea into a digital asset (NFT), associating it with a price tag, and selling it. 

## Step 7: List your NFT 

Once you decide on a price strategy for your NFT, click the "Complete Listing" button to finish the process. If you did everything right, you'd see an announcement that your NFT is listed for sale.


pink image of person making and minting digital nfts

Guide to Minting NFTs on OpenSea

Fidelity Charitable, an autonomous charitable trust, has launched the "Art of Generosity," a unique non-fungible token (NFT) project meant to honour generosity.

[Fidelity Charitable is getting into NFTs](https://abcnews.go.com/Business/wireStory/fidelity-charitable-launches-nft-raffle-amid-crypto-downturn-94100732) despite the crypto winter, which has led to the dissolution of many big crypto and NFT projects in recent months.

Participants in the raffle, which ends today, can win one of the NFTs. Fifty people will also receive $1,000 to donate to a Fidelity donor-advised fund.

Donor-advised funds enable donors to claim a charitable tax credit before donating to an eligible non-profit.
According to Amy Pirozzolo, head of donor engagement for Fidelity Charitable, the promotion is being run to reach a new generation of philanthropists.

## Cryptocurrency donations

Fidelity claimed that donations made in cryptocurrencies to donor-advised funds skyrocketed last year, increasing from $28 million in 2020 to [$331 million](https://www.fidelitycharitable.org/content/dam/fc-public/docs/insights/2022-giving-report.pdf) last year.

Engiven facilitates cryptocurrency donations to non-profits such as Christian ministries. Co-founder and CEO James Lawrence estimates that only 4,000 or 5,000 of the 1.5 million-plus non-profits that are registered with the US IRS (Internal Revenue Service) could receive cryptocurrency donations directly.

He also noted that many people making significant gifts in Bitcoin are the same types of donors that make large donations generally, rather than the younger demographics who are more prone to invest in cryptocurrencies.

According to Robbie Heeger, Endaoment's president and CEO, there is a great opportunity for non-profits to transition from paper checks to cryptocurrency. Heeger further said that the cryptocurrency space is very focused on adopting flywheels and ways to incentivize or encourage traditional economies to migrate into the crypto economy.

## Fidelity Charitable: NFT project 

According to Fidelity, 50,000 different [wallets](/news/article/best-crypto-wallet) potentially show that many people have already registered to create an NFT and could win the money to donate.

The company is covering NFT production costs, including a "gas" fee that covers the creation and registration of the item. It has also stated that it has compensated the artists who created the images.

To claim the NFTs, users must create a cryptocurrency wallet with access to the [Polygon blockchain](/news/article/polygon-nft-drops-2022). The Fidelity Charitable NFTs are hosted on the OpenSea platform.

When participants sign up, they will see the NFT in their wallet, but the art and the winners of the $1,000 tickets will not be revealed until Giving Tuesday (29 November).


Fidelity Charitable NFT Raffle

[Lazy](/news/article/lazy-monkey-nft) minting is a strategy that is increasingly being used in NFT contracts. It helps in reducing high gas fees on Ethereum.

The process of converting a digital item into a crypto-collectable or non-fungible token on a blockchain is known as minting. It is the process of uploading a particular item and allocating it to a unique token on the blockchain. The digital item is kept in a decentralised database, or distributed ledger, and cannot be edited, modified, or deleted.

## What is lazy minting?

Lazy minting allows NFT artists to sign "minting authorisations", enabling users to mint NFTs later. These mint authorisation signatures are free to create and ensure that no NFTs are minted without prior approval.

It is a method of deferring minting until the non-fungible token is about to be sold. Buyers pay the fee after their NFT has been sold, making digital asset creation more affordable and equitable for creators. 

It is now available on major NFT platforms such as [OpenSea](/news/article/nft-hackers-passports) and [Rarible](https://rarible.com/).

## What is the significance of lazy minting?

It is vital because it allows artists to save money when minting, which is a significant concern when gas prices for [Ethereum](https://ethereum.org/en/) transactions are high.

When the Ethereum blockchain is overcrowded, the gas price can skyrocket. This forces artists to pay large sums of ETH to list their work for sale on digital asset marketplaces.

During hyped NFT launches, bull markets, and market-related headlines where many people try to conduct on-chain transactions, the cost to mint an NFT can become relatively high.

## How does it function?

The creation of off-chain NFTs is used in lazy minting. This implies that until an NFT is purchased, it is not officially on the blockchain. Once the digital item is bought, it is minted on-chain and the buyer is responsible for paying the gas costs to mint the NFT.

It can be broken down into three general steps:

1.	A smart contract is used by the creator to mint an NFT. On behalf of the seller, this contract will mint and sell the NFT.

2.	To approve the lazy procedure, the seller offers a private signature containing a wallet and token information (such as the token ID, price, etc.).

3.	The buyer buys the token and pays a price that includes the NFT and the cost of minting it. After that, the NFT is added to the chain and delivered to the buyer's wallet.

## What advantages does it offer?

It offers several advantages, including:

1.	Reducing the impact of gas fees: By moving the payment of the gas fee to mint NFTs after the sale, sellers can include the fee in their pricing models, reducing the deterrent effect of the high costs on budding artists.

2.	Lowering the entry barrier: One of the chief advantages is the removal of high gas costs required to mint an NFT, lowering the entry barrier and making the process more accessible to developers and artists.

3.	Boosts liquidity: It promotes liquidity because NFTs can only be transferred after being sold. As a result, buyers won't have to wait an eternity for their NFT to be transferred, and sellers won't end up with a stockpile of newly minted, unsold NFTs.

## Bottom line

[Lazy](/news/article/lazy-lions-nft) minting is a thriving trend in the market for non-fungible digital assets, with numerous advantages for artists and developers. It removes the initial cost of minting NFTs, making the process more affordable and accessible. 

Furthermore, because only sold NFTs are minted, and unnecessary power-hungry transactions are removed from the blockchain, the benefits aren't limited to artists and developers.



What is Lazy Minting?

As an official partner of Haas F1, they will collaborate with the team and external [contributors](https://www.haasf1team.com/news/haas-f1-team-partners-opensea-future-nft-collaborations) to create a range of branded NFTs. The F1 Team and OpenSea will work together to create an outstanding utility that will bring fans closer to the team and fascinating collections to the NFT community. 

They seek to present new and differentiated collections to the NFT community, with a shared vision of increasing participation and creating unique, best-in-class Web3 experiences.

## Where will the OpenSea logo appear on Haas F1 car? 

In support of the collaboration, the [emblem](/news/article/nft-hackers-passports) will feature on the F1 Team's VF-22 entry for increased exposure. 

"We've been looking for the perfect partner in the NFT area, and we've found it in Guenther Steiner, Team Principal of the respective F1 Team".  

Haas added that they know they will be in excellent hands with the leading peer-to-peer marketplace guiding them on their collections and fan interaction opportunities since OpenSea is an industry leader with innovation at the heart of all they do.  

According to Shiva Rajaraman, [NFTs](https://www.thepaddockmagazine.com/opensea-and-haas-f1-team-sign-a-partnership-agreement/) can unlock new experiences and provide a canvas to bring people together in new ways around the things they love. We're excited to work with the F1 team to create unique collections, new experiences for their devoted fan base, and new opportunities for everyone to come even closer to the action.

## What is OpenSea? 

OpenSea is the world's leading peer-to-peer marketplace for NFTs. They are on a mission to help the world's creators, collectors, and collaborators own and shape their relationships directly. We're building the world's most trusted and inclusive NFT marketplace with the best selection.

The leadership team is based in New York and includes Google, Palantir, Lyft, Uber, Stanford, and Berkeley members. a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital are among the investors.


Haas F1 racing team's collaboration with OpenSea

An eastern European hacktivist organisation claims to have hacked every individual passport in Belarus, including its despotic dictator, Alexander Lukashenko, who refers to himself as the "last tyrant of Europe." Following the alleged data theft last summer, the Belarusian Cyber Partisans (BCP) minted many of the country's citisens passports as NFTs, including Lukashenko's. They listed them for sale on the crypto marketplace OpenSea earlier this week.

The NFT hack group is said to be made up of unknown Belarusian IT specialists who have launched a digital war on the Lukashenko administration, which they consider corrupt and illegitimate.

Lukashenko is a divisive person who has been in power in Belarus since the country's founding in 1994. Despite being elected on the promise of eradicating corruption, he has been accused of "rigging elections, torturing critics, and detaining and assaulting protestors" in the past by organisations such as the Organized Crime and Corruption Reporting Project.

The hacktivists claim to be fiercely opposed to what they perceive to be a corrupt dictatorship led by Lukashenko, who has also irritated the group by supporting Russia's invasion of Ukraine.

Through this [NFT](/news/article/what-is-timeless-crypto-nft) hack, the Belarusian Cyber Partisans also indicated that they wanted to sell NFTs containing the passport information of additional government officials close to Lukashenko.

"We also provide passports of his closest friends and traitors to the peoples of #Belarus and #Ukraine." "All funds will be used to support our work in targeting bloodthirsty regimes in #minsk and #moscow," the group wrote.

## OpenSea took down the offerings made by the NFT hacks

OpenSea took down the offers the same day they went up, later notifying [Gizmodo](https://www.gizmodo.com.au/2022/09/opensea-boots-hackers-for-claiming-to-mint-nfts-of-belarusian-dictators-stolen-passport/) that the crypto assets violated its rules on "doxxing." According to a business spokesperson:

"OpenSea's Terms of Service prohibit Doxxing and exposing personal information about another individual without their knowledge. The site enforces its policy in various methods, including blocking purchasing and trading on infringing content, delisting, and, in certain cases, banning accounts, as was the case in this case."



NFT hackers sell stolen passports on OpenSea

The [HypeBears NFT](https://nftdroops.com/nft/hypebears/) is a collection of varied digital artworks that are based on a bear graphic. They are composed of low-resolution visual art, with the bear serving as the main character in each piece.

The art collection can be bought via the primary NFT marketplace OpenSea. Payment must be made in [ETH](/coins/eth) by the user. Each NFT in the collection has a unique look. The costumes and backdrops in the digital art determine the worth of the collection. The more expensive the NFT, the rarer it is.

## HypeBears NFT overview

The HypeBears NFT features a set of 10 thousand static and animated 3D images of bears designed by Ernest Siow. The [Discord platform](https://discord.com/) of the digital art has a large community of aficionados from all around the world. 

According to Ernest Siow, HypeBears will be more than just an art project; they aim to make it a self-sustaining social club. The objective is to guarantee that the project provides a long-term benefit to all stakeholders. Ernest further mentioned in the press release that the initiative is unlike any other and that the movement is real and boundless.

By holding a HypeBear NFT, you will have unlimited access to an elite social club with a range of privileges, such as real-world utilities and whitelists in cooperative projects. The creator believes that the current achievement is merely the beginning of far greater things to come.

As HypeBears makes headlines with its sales volume in the coming weeks, the team is already planning the launch of a governance token ($HYPEB). With the token, HypeBears may boost the degree of innovation in the NFT business while also influencing how holders interact with the assets. You will be able to engage in ecosystem conversations and give your opinions on the project's future as a token holder. You may also stake the $HYPEB token to generate passive income.

## Is HypeBears NFT a promising investment?

The team is actively striving to collaborate with fashion labels. Although it is still in its early phases, brand agreements and partnerships have already been established to ensure that HypeBear NFTs are more than simply about digital art.

They intend to diversify into fashion, technology, and toys.

HyperBear is undoubtedly poised to 'wow' the whole NFT space. As the partnerships and collaborations begin to materialise, the value of the assets might skyrocket. 

Considering all this, we anticipate that HypeBears will emerge as the next big boom in the market. The NFT art has presented positive returns in the past and a completely new ecosystem to interact with the artists’ work.



Comprehensive guide on HypeBears NFT project

The [Lazy Lions NFTs](https://www.lazylionsnft.com/) were made available on August 7, 2021. NFTs are currently popular and in demand, and they are spread all over the world. NFT collections have gained enormous popularity. The Lazy Lions NFT collection, which operates on the Ethereum blockchain, is marketed on the OpenSea Marketplace. Non-fungible tokens (NFTs) are a hot topic right now, and for a good reason—the market is growing. Lazy Lions is one of the NFT projects booming in the market. Read on to discover all there is to know about the Lazy Lions NFT Collection.

## What are Lazy Lions NFTs?

10,000 different Lion NFTs, the one-of-a-kind digital treasures, make up the Lazy Lions collection. They operate on the [Ethereum](/coins/eth) Blockchain. Each Lazy Lion is unique; therefore, over 160 potential traits are produced programmatically, including attire, mane, expression, and many more. Lazy Lion NFTs are a collection of NFTs that feature a variety of drawn lions with unique qualities created by an algorithm.

Lazy Lion NFTs developed a community that started to drive up its price and make it a well-known NFT project outside traditional cryptocurrency venues on social media platforms. 


## How to purchase Lazy Lions NFT on Opensea? 


1.	You must first fund your wallet with crypto currency before you can buy your NFT. Ether, the native coin on the Ethereum blockchain, is used to buy and sell the bulk of NFTs on OpenSea. Make sure you have enough Ethereum (ETH) in your wallet to pay for the NFT in full as well as any additional costs, like gas. If your wallet needs to be refilled or you're running low on money, compare your options for buying ETH.

2.	You can use OpenSea to find your NFT. Consider browsing collections to assist in limiting your possibilities because OpenSea has thousands of NFTs listed.

3.	Transfer your ETH to a web3 wallet. One popular web3 wallet option is MetaMask.

4.	It's simple to buy the Lazy Lions NFT oversea. When you're ready to purchase, select the NFT you want to participate in by clicking the "Buy Now" button next to it. When making a purchase, OpenSea will show the complete price, including fees. After doing so, confirm the transaction in your MetaMask wallet.


A guide to Lazy Lions NFTs

OpenSea, the biggest [NFT](/news/category/nft-news) market in the world, announced it is slashing around 20% of its employees.

This is the latest in a series of layoffs that turmoiled the already shaken, crypto community as the cryptocurrency prices plunged.

OpenSea’s Chief Executive Devin Finzer [confirmed the layoffs](https://twitter.com/dfinzer/status/1547648521607659522) in a tweet and asserted that the crypto winter might be longer than expected. However, he added that things are not so gloomy and said he has immense conviction in the NFT space and  OpenSea’s role in it. 

Finzer explained that, during this winter, we might see “an explosion in innovation across the ecosystem. And with the changes we’ve made, we’re in a strong position to continue.”
He also said that in uncertain times, the company’s mission to build a foundational layer for new, peer-to-peer economies feels more urgent and essential than ever.

According to the firm’s representative, Allie Mack, around 230 employees will stay with OpenSea, which was, by the way, valued at over $13.3 billion in the year’s beginning.

Other exchanges that also decided to fire their people are Gemini, Coinbase, Crypto.com and BlockFi.

It all started with the Terra Luna collapse in May this year that entailed all other companies halting withdrawals, firing employees or even filing for bankruptcy. 
 
Demand for NFTs has also plummeted, that cut the sales of OpenSea in half during just one month. The average price of an NFT on its marketplace fell by approximately 40%.
This includes even the most famous NFT collections such as Bored Ape Yacht Club and CryptoPunks, who, even though are still selling, have felt the winter breeze.

According to Finzer, this whole situation can be seen as an opportunity. He said that during this winter he expects an explosion in innovation and utility across NFTs.
“With the hard (but important) changes we made today, we’re in an even better position to capture what will soon become the largest market on the planet. Winter is our time to build”, Finzer concluded.

The company added it will provide health coverage next year for all fired employees. 



OpenSea NFT Platform lays off 20% of employees

[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

When Forbes magazine, widely-recognised as the bastion of strategic investing, publishes an article touting Non-Fungible Tokens as a _must have_ and declaring them an asset class that is _here to stay_, as they did last summer, investment communities were officially being put on notice - it is time to start talking about NFTs. 

Let’s start with a simple description: Non-Fungible Tokens, or NFTs, are tokens guaranteeing ownership of a distinct and unique asset — usually a digital asset such as a piece of art, music, or even a video. NFTs are digital proof of ownership used to represent virtually any type of real or digital item. NFTs are _created_ and _managed_ on digital ledger technology systems referred to as blockchains with the Ethereum network being the most popular. 

If that isn’t helpful, we’ll put it this way: “Non-fungible” tells us that the asset is unique and _cannot_ be replaced with anything. For example, one bitcoin is fungible — you can trade one for another bitcoin, and you will have exactly the same thing. A one-of-a-kind trading card, on the other hand, _isn’t_ the same thing.  It is one of a kind.  It is…non-fungible.

The important thing to remember is that no two NFTs are the same.

Here’s how and where to buy them.

## Places to Buy Non-Fungible Tokens

In most cases, you will be required to set up and fund a crypto wallet with Ethereum (a popular cryptocurrency) as one of the first steps in buying NFTs on exchanges (or marketplaces). MetaMask is one of the most common for purchasing NFTs and also seems to be the easiest crypto wallet for newbies to set up.

The popularity of NFT investing is proliferating a variety of new trading platforms where you can buy, sell, and even create them. Based on our research, we believe the following three marketplaces are the most resourceful for those who are new to NFT investing. 

### OpenSea

Arguably the most popular choice, OpenSea is the largest digital marketplace for NFTs offering millions to choose from in categories like art, music, and collectibles. Launched back in 2017, OpenSea continues to focus on offering consumers a trading experience that is quick, easy, and fun.  In fact, the marketplace recently launched an app for users in the Google Play and Apple App Store.

One of the key advantages of using OpenSea is the platform’s application of smart contracts to keep transactions legit. The advantage being that if either party _doesn’t_ fulfill their end of the deal, the transaction becomes void and neither party is out anything.

### Rarible

The [Rarible](https://rarible.com/) marketplace is an all-in-one platform that was launched in 2020 where creators, sellers, and buyers of NFTs can convene to trade and conduct their business. Quite simply, new investors interested in a creator centric NFT marketplace that allows for creating, selling, or collecting NFTs will find that Rarible is an appealing platform to use because of how it simplifies the process of trading without needing a middleman.

### Nifty Gateway

Launched in 2018, [Nifty Gateway](https://niftygateway.com/) is an NFT digital art marketplace that makes it easy for users to buy and sell NFTs as easily as one can buy products on eBay. Nifty Gateway offers NFTs from celebrities, popular digital artists, and major brands. It is a marketplace that distinguishes itself as a platform that continues to build a wide offering of desirable, high-value assets that have huge investment potential. 

One great thing about Nifty Gateway is that this platform allows you to buy and sell NFTs in US dollars, meaning that besides a crypto wallet you can also connect your account directly to your bank.

## Now What?

The opening up of NFTs as another class of investments creates a wide array of opportunities. Consider that it was only four years ago that the head of JP Morgan infamously called Bitcoin “worse than tulip bulbs” referring to the Tulip Mania bubble in the 1600s. Today, that same bank is looking at how cryptocurrencies may be an alternative to gold assets for hedging against inflation. 

NFTs are now in a similar place to where cryptocurrencies were a couple of years back – the opportunity has not yet been seized in the mainstream. None of us have a crystal ball, and you always want to be prudent in your research, but the bottom line is that millennials and Gen Z are living lives that are becoming increasingly more digital. Isn’t it only natural to want to take digital representations of luxury brands, music, and art into these worlds?  Now you can with NFTs.

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