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Mar 27, 2022

NFT Investing for Beginners

What is NFT?

NFT stands for non-fungible token, and it is an unique cryptographic token that exists on a blockchain and cannot be replicated. It is a digital asset that represents real-world objects like art, music, in-game items and videos. It is bought and sold online with cryptocurrency, like BTC or ETH.

Axie Infinity

Axie Infinity is an NFT-based gamewhich takes inspiration from the popular Nintendo franchise Pokemon. The game has its own ecosystem and features a variety of small monsters called Axies. Players here can breed, raise trade, and battle Axies with other players or teams.

Every Axie in this game is an NFT characterplayers can trade Axies for real money on the games marketplace and generate profit. Axie Infinity also has a virtual economy and here players use two cryptocurrencies: SLP (or Smooth Love Potion) and AXS (or Axie Infinity Shard). Players also use these coins to purchase Axies, buy land, farms, etc.

Decentraland(MANA)

Decentraland is a software running on Ethereum that seeks to incentivize a global network of users to operate a shared virtual world. Decentraland users can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world. There are 2 different types of tokens govern operations in Decentraland,which are LAND and MANA.

Ø  LAND is a NFT used to define the ownership of land parcels representing digital real estate. 

Ø  MANA is a cryptocurrency that facilitates purchases of LAND, as well as virtual goods and services used in Decentraland.

 

How to invest in NFT?

First, youll need to get a digital wallet that allows you to store NFTs and cryptocurrencies. Youll likely need to purchase some cryptocurrency like ETH, depending on what currencies your NFT provider accepts. You can buy crypto using a credit card on platforms like Coinbase, Binance, FTX, Bitfinex and so on. Youll then be able to move it from the exchange to your wallet of choice.

 

Exchanges to Invest

 

Disclaimer: Cryptocurrency investment is subject to high market risk. TOPSINMETA is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.