Technology does not cease to amaze us every day and right when we think it cannot go any farther, it does exceed our imagination. During the COVID-19 pandemic, the world all found its way to the virtual spaces, be it for work, learning, or entertainment, and this paved the way to what is called today the Metaverse.
Metaverse is a combination of two words, Meta means “beyond” and verse refers to “universe”. The Metaverse will create another separated virtual reality and it aims to give people the chance to be always connected regardless of the physical barriers.
The users will be able to live in it by creating personalized avatars, building their personal spaces and homes, creating rooms for meetings, and buy lands and buildings, purchasing products and services by using the cryptocurrency, and at this point, you will have to be exposed to NFT, learn more at Bitcoineer.
What Exactly Is an NFT?
NFT or non-fungible tokens are digital assets that you find on a public blockchain that demonstrate your record of ownership, and they are not only dedicated to selling and buying NFT as most people think, but everything regarded as digital assets such as books, videos, audios, images, blogs, tweets, or even memes.
Big names and well-known brands have layed their hands on the NFT concept as they are walking their first and stable steps into developing their own Metaverse.
Although there are a lot of sceptical thoughts towards the blockchain from the business community, yet large companies have been taking NFTs very seriously. Learn more about smart business management at this blog post with a pay stub maker software review.
So many different famous artists such as Beeple has sold an NFT of his piece for 69 million dollars and Nike has acquired RTFKT that is currently creating NFT sneakers, companies such as NBA, Pepsi, Gucci, Universal Music Group, Alibaba, Disney, Marriot, and Tencent have all found their way to NFTs.
NFT is continuing its growth because of the stable progress of cryptocurrency as its market is worth 3 trillion dollars and is expected to grow even more in 2022 along with NFTs mainly in the areas of sport, digital art, and gaming.
Companies are very interested in using NFTs also because they want to enhance their brands’ awareness, engage more consumers with their products and services, and of course to pave their way into the Metaverse to reincarnate their brand in the new form of the internet and build their base as strong as possible from the very beginning, such as Adidas that has established a partnership with NFT creators Bored Ape Yacht Club and Pixel Vaults Punks Comic, signed a deal with GMoney who is a crypto investor and bought a digital land in the Sandbox that is a blockchain-based virtual universe.
NFT will familiarize people with the concept of Metaverse as more brands will adapt its culture and join the NFTs cult, the public will be able to understand more what the Metaverse is about and draw them a clearer picture of what to expect.
Now that you have got a clearer idea about NFTs, it is time for you to learn how to buy your first NFT, and nothing would serve your purpose as Binance NFT. For more on financial growth, read this post about overcoming cash flow issues.
What Is Binance NFT?
Binance NFT is the biggest NFT marketplace, this virtual centre allows people to browse and trade so many different in-game items, virtual lands or buildings, digital art and more, all with a flat trading fee that doesn’t surpass 1percent.
And with all the different NFTs that you can find in there from very talented and famous artists and content creators, it will not be so hard to find something that suits your taste and you are willing to buy your first NFT using Binance NFT, here is how to simply do it:
How Do I Buy NFT?
Step 01: Fill your account with cryptocurrency
First, you will have to create a Binance account and fill your wallet with either BNB, BUSD or ETH as they are currently the only accepted cryptocurrencies on the Binance NFT Marketplace, and because Binance NFT belongs to the Binance ecosystem, you will be able to buy crypto or fill your Binance wallet all in the same platform, all that you have to do is:
- Create a Binance account.
- Buy crypto, using a credit or your debit card, or buy it on Binance P2P, or you can simply buy it through third party channels.
- Put your crypto in your Binance account, however, this step is only for people who have or get crypto from a different platform or buy it via third party channels.
Step 02: Explore the Binance NFT marketplace
Now that you got your BNB, BUSD or ETH in your Binance account, it is time for you to start exploring the Binance NFT Marketplace, and you can do it in two different ways:
- Binance app: open the app, you will find yourself facing the homepage, then click on “More” and under the “Trade” tab, choose “Binance NFT”.
- Desktop Browser: search up Binance.com, you will face the Binance website homepage, then click “NFT” at the very top of the page, and in no time you will find yourself exploring NFT Marketplace.
Step 03: Choose the right NFT
You must be lost trying to find the right NFT among all the different choices, well do not worry, here are some pieces of advice for you to figure your way out before purchasing any NFT.
- If you are a gamer, then you doubtlessly find your go-to NFT in the gaming gallery. On the Binance NFT homepage, you will find “Gaming/IGO” click on it and you will be facing all the different gaming collections that have been released and the ones that are yet to be dropped, you can choose whatever gaming project that catches your eyes and check their full collection page.
- You can limit your choices by filtering them out using secondary market or the Mystery Box market.
- On the homepage of Binance NFT, you will be also exposed to the different trending NFT and the recommended creators and projects.
- Finally, you can check the ranking boards that you will find on the marketplace page, all the best NFTs, creators and projects will be showcased there.
Step 04: Buy your chosen NFT
Alright, now that you have finally chosen your NFT, it is time to purchase it! and there are three different ways you can purchase an NFT, it goes according to how the creator/seller has made the sale process, the three processes are Auction, Fixed Price, and Mystery Box.
1. Auction
- Go to the NFT listing page, and press on “Place a Bid”
- Put your bid sum and press “Place a Bid”
- You will receive a confirmation splash screen, once the auction ends up, the highest bidder will be the one who gets the NFT.
- Keep in mind that you cannot cancel bids, and you will not be able to use your funds until a different new bid is placed or the entire auction finishes.
2. Fixed-price
- Go to the NFT listing page, and press on “Buy Now”.
- You will receive a pop-up to confirm your purchase including the sum you are willing to pay, and press “Confirm” to finish the transaction.
- Once the transaction is done, you will receive a different pop-up to inform you that the purchase process has been done successfully, and you can check your NFT by clicking on “Collections” in that pop-up.
3. Mystery Box?
The concept of Mystery Boxes is so interesting, as you get a surprise NFT as you open the box. You can possibly receive foud different types of NFTs: super, super rare (SSR), super rare (SR), rare (R), and finally normal (N).
- Click on the Mystery Box listing page, you can find all different boxes you can buy (with fixed price), choose what you are drawn into and press “Buy” to get it
- You will receive a pop-up or an “Order Detail” so you can confirm your buying process details and you can press “Confirm” to get it done.
- Now that you have bought it successfully, press “Collections” on that same pop-up to check your Mystery Box.
Now how to open your Mystery Box?
You have the choice to open it right away or keep it saved in your collection, however, if you want to open your Mystery Box directly, here is how to do it:
- Click on “User Centre” then “Mystery Boxes” and choose “Collections”, and choose the Mystery Box you want to check.
- Now, you will be facing the Mystery Box product page, click on “Click to Reveal”, and then press on “Open box”
- Finally, you will get to see the NFT you pulled from your Mystery Box, and you can always check all the NFTs you got in your Mystery Box collection.
And as simple as that you are now all set to start exploring your NFTs adventure!
