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Crypto.com’s NFT marketplace is a platform where users can create, display, buy and sell NFTs. The marketplace has been developed by Crypto.com and was built on top of the Crypto.com blockchain.
Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.
What is the Crypto.com NFT marketplace?
Established in March 2021, the Crypto.com NFT marketplace is a platform backed by the cryptocurrency exchange, Crypto.com.
Crypto.com has been in the cryptocurrency space since 2016 and has grown to become one of the most popular cryptocurrency exchanges and crypto payment platforms. It is now used by millions worldwide. The NFT marketplace is the latest addition to its exchange and blockchain ecosystem. New NFTs can be created, displayed, bought and sold.
NFT, which is short for non-fungible token, is a digital asset that represents ownership of a unique item. Popular items include digital art, music, videos, memes and gaming accessories. Similar to cryptocurrencies, an NFT is stored on a blockchain digital ledger. However, unlike cryptocurrencies, they are not interchangeable. 1 BTC can be swapped for any other 1 BTC. An NFT cannot be swapped for any other NFT. Each holds a unique value.
How to buy NFTs on Crypto.com
The Crypto.com NFT marketplace provides 2 ways users can buy NFTs: by auction or set price. Set price means that an NFT is purchased or sold at a predefined price, which is set by the seller. Auctions allow multiple users to bid on the value of an NFT.
Although riskier, auctions have been known to generate increased hype and, therefore, increased profits. However, this depends on the NFT being sold.
Buying at a set price is the simplest way to buy NFTs on the platform and will be the focus of this section.
Step 1: Create an account
You cannot buy an NFT on the Crypto.com NFT marketplace without a Crypto.com NFT user account. To create a user account, click on the green button below. On the homepage, click the “NFT” tab.
On the NFT marketplace page, click on the highlighted “Sign Up” button to begin creating a Crypto.com user account.
The sign-up process will require your full name, email, username and password. Once you have entered your user details, you will need to verify your email and accept the terms and conditions before your Crypto.com account is created.
Step 2: Select payment method
Crypto.com NFT marketplace offers 2 ways to pay for NFTs. You can either pay via debit/credit card or via Crypto.com Pay. Paying through a debit/credit card will be the simplest way for beginners or non-crypto users. The method is best suited for people who don’t already hold cryptocurrencies.
If you wish to buy NFTs with cryptocurrencies, Crypto.com Pay is the way to go. Before using Crypto.com Pay, you will need cryptocurrencies either in your Crypto.com wallet or your personal cryptocurrency wallet.
If you have cryptocurrencies stored in a third-party personal cryptocurrency wallet, you will need to link that wallet to your Crypto.com account. The digital wallet must be supported by Crypto.com. Crypto wallets supported by Crypto.com include MetaMask and Trust Wallet.
Step 3: Buy your NFT
To buy an NFT, find the Crypto.com NFT marketplace homepage and click on the “Marketplace” button at the top of the screen. You will be directed to all of the NFT listings.
There are different categories of NFTs available on the Crypto.com NFT marketplace. You can use the search bar to quickly search for a specific NFT or use the category filters to browse through different collections.
Once you find an NFT you wish to buy, click on it. A new page will load displaying all the information regarding the NFT, such as description, the edition and previous sale history.
Once you have verified all of the information, click the “Buy” button. You will then need to choose whether you’ll purchase the NFT using a credit/debit card or with Crypto.com Pay.
Once the transaction has been completed, the NFT will be deposited into your Crypto.com account. From there, you can transfer your NFT to a personal cryptocurrency wallet.
How to sell NFTs on Crypto.com
As with buying NFTs, there are 2 ways you can list your NFT for sale within the Crypto.com NFT marketplace: by auction or set price. Regardless of the method chosen, the steps for listing an NFT for sale are easy to follow.
How to sell an NFT on Crypto.com:
Step 1: Create a user account
If you already have an account, you can skip this step. If not, click on the green button below to start the process.
As outlined in “How to buy an NFT on Crypto.com”, creating a user account is a quick and easy process. Simply head to the Crypto.com NFT marketplace homepage and click on the “Sign Up” button. On the next page, input all of the required information. Verify your email and agree to the terms and conditions. Once verified, you are good to go.
Step 2: Find or create an NFT
You can either sell NFTs you have created or sell NFTs that you have purchased through the Crypto.com NFT marketplace. All of the NFTs available for sale can be viewed by clicking the “My NFTs” button in the top right of the screen.
Step 3: Sell your NFT
From your “Collections” tab, click on the NFT you wish to sell. At the bottom of the NFT page is the option for “Sale”. Remember, you can choose to sell your NFT through an auction or fixed price. Selling your NFT at a fixed price is simpler than using the auction method. Input the price that you wish the NFT to sell for and confirm the listing.
What NFTs can you buy on Crypto.com NFT marketplace?
NFTs on Crypto.com are categorized into Art, Celebrities, Gaming, Sport, Music and Crypto. Each category holds a number of NFTs from different creators all over the world.
Art: The Art category holds artwork in digital NFT form. Bosslogic is a popular NFT artist who had the honor of dropping the first 2 collections on the Crypto.com NFT marketplace. All of his NFTs sold out within 24 hours.
Celebrities: This category holds NFTs from celebrities like Snoop Dogg, Lionel Richie and Boy George. Some of the NFTs sell for as little as $80 while others sell for as much as $250,000.
Gaming: The Gaming category hosts gaming-based NFTs. Most of the current gaming NFTs are cards selling for as little as $2. This category is great for beginner NFT holders not looking to spend a lot in the NFT space.
Sports: The Sports category displays NFTs of different sports mostly in video format. The category contains soccer NFTs of internationally acclaimed footballers like Lionel Messi, Ángel Di María, Sergio Agüero and even the late Diego Maradona.
Music: The music category displays music NFTs in photo and video format. Notable NFTs within this category include celebrities like Lionel Richie, Boy George and Snoop Dogg.
Crypto: The Crypto category is the most populated category in the marketplace. The category is filled with a range of visual digital art and collectibles that do not fit into one of the previous categories.
Is Crypto.com NFT marketplace safe to use?
Crypto.com, the crypto company behind Crypto.com NFT marketplace, is a reputable and regulated crypto company. It was first launched in 2016. Ever since the company hit the crypto market, it has never suffered a hack or theft of funds.
The Crypto.com application is one of the most popular, with over 10 million users to date. Crypto.com NFT marketplace has also entered into many strategic partnerships that help promote its credibility.
The marketplace might be very young in the NFT space, but due to its backing by Crypto.com, it stands out as one of the safest and most secured NFT marketplaces currently in existence.
Crypto.com NFT marketplace vs Binance NFT marketplace
Crypto.com NFT marketplace and Binance NFT marketplace are currently fairly young NFT marketplaces that promise a lot of good things. Both NFT marketplaces are backed by reputable companies, which is a plus, but what are their differences?
Crypto.com NFT marketplace
Binance NFT marketplace
Powered by Crypto.org blockchain
Powered by the Binance Smart Chain and Ethereum blockchain
No visible way for users to create NFTs
Users can create NFTs on the Binance smart chain and Ethereum blockchain
Users have to connect to Crypto.com to use the Crypto.com NFT marketplace
No need to connect to Binance exchange to use the Binance NFT marketplace
No transaction fees for buying NFTs
1% fee for all transactions on the Binance NFT marketplace
Just as there are some advantages that come with using Crypto.com’s NFT marketplace, there are also a few disadvantages.
Pros and cons of Crypto.com NFT marketplace
Simple and easy to use. The NFT marketplace is extremely intuitive and should be easy to navigate even for the most inexperienced NFT investor.
Zero NFT transaction fee. There are no transaction fees when purchasing NFTs through the Crypto.com platform, which places it as the market leader for cost.
Debit/credit card flexibility. Unlike other NFT platforms, you can buy NFTs directly using a debit or credit card.
Accessibility. Users have to connect to the Crypto.com app to use the Crypto.com NFT marketplace.
Market share. Due to the platform being relatively young in comparison to other marketplaces, not much is known about how to create NFTs on the platform.
Frequently asked questions
Yes, the Crypto.com app includes NFT accessibility for users. The app is available for download on both Android and iPhone devices.
All transactions take place and are recorded on the Crypto.com blockchain. The platform is looking at other blockchain compatibility, such as Ethereum.
For a full list of cryptocurrencies that you can use to purchase NFTs, please click here.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
James Hendy is a writer for Finder. After developing a keen interest in traditional financial investing, James transitioned across to the cryptocurrency markets in 2018. Writing for cryptocurrency exchanges, he has documented some of the key blockchain technological advancements. James has a Masters of Science from the University of Leeds and when he isn't writing, you will either find him down at the beach, reading (coffee in hand) or at the nearest live music event.
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