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How to buy an NFT

How to buy an NFT

How to buy an NFT

In order to buy an NFT, you'll need a crypto wallet and cryptocurrency (or, in some cases, just a credit or debit card). Using OpenSea, you can buy items listed for sale instantly, bid in auctions, or make offers on any NFTs.

What do you need in order to buy an NFT?

To buy NFTs, you’ll need to set up a crypto wallet. A crypto wallet is a program that stores your NFTs and cryptocurrency. Not all wallets store NFTs, and not all wallets support all blockchains, so make sure your wallet is compatible. A few of the most popular wallets include:

  • Metamask (Ethereum, Polygon and Klaytn)
  • Coinbase (Ethereum, Polygon and Klaytn)
  • Phantom (Solana)

NFT transactions happen using cryptocurrency, although many NFTs on OpenSea are available to buy with a credit or debit card. More on this later.

Where to buy NFTs

There are two main ways to buy NFTs: on independent project websites, or on NFT marketplaces.

Projects will sometimes set up their own websites to sell their NFTs. This is often for a project’s “mint” (the very first sale, when the NFT is written to the blockchain), although some projects have their own independent marketplace, like Coachella and Larva Labs. In most cases, when you buy from a project website, you can still resell your NFT on other NFT marketplaces.

"Nouns" project website, where one Noun is minted every day.

NFT marketplaces will sometimes support primary sales or mints, but they are also a major driver of secondary sales. Marketplaces can differ by the blockchains they support, their fee structure, the types of NFTs they specialize in, and more.

“Archetype” collection on OpenSea.

How to find an NFT you like

If you want to get into NFTs but don’t know how to find something you like, here are some good places to start exploring:

Creators you already follow

Many “traditional” creators are also active in the NFT space, like Snoop Dogg, Damien Hirst, and Gary Vee. You can check out some of your favorite creators and see if they have any cool NFT projects, like this interactive music project by SiA.

Twitter

Much of the conversation around NFTs happens on Twitter, making it a great place to discover new NFT projects. You can follow accounts, hashtags, and topics that you’re interested in. It’s a great way to not only see what’s currently trending, but also to see what projects are coming soon.

Marketplaces

NFT marketplaces are another great place to discover NFTs. On OpenSea, you can look at “Trending” charts, explore by category, and more. You can also sort and filter by criteria like price, making it easier to find the types of projects you’re looking for.

How to buy an NFT

Once you’ve found an NFT you like, how do you actually purchase it? There are three main ways to buy an NFT using OpenSea: “buy now,” auctions, and offers. 

Buy now

NFTs listed to “buy now” are listed at a set price. They can be purchased any time during the sale period and without any additional involvement from the seller. This is the simplest method, and is a lot like buying on other e-commerce websites.

The Association on OpenSea.

Auctions

When an NFT is up for auction, potential buyers can bid on the item. The NFT will either go to the highest bidder, or the seller can choose to accept any offer during the auction.

Offers

You can make an offer on any item using OpenSea, even if it’s not listed for sale. You can also make an offer on a listed item, if you want to offer less than its listed sale price.

The purchase process: A step-by-step guide

Let’s walk through how to buy an NFT.

1. As we discussed above, there are multiple ways to buy an NFT. For this example, we’ll buy an NFT that’s listed for sale by clicking the “Buy now” button.

2. Connect your crypto wallet

If you haven’t already connected and set up your crypto wallet, you’ll be prompted to do so during this step.

3. Choose your payment method

Next, you’ll be prompted to choose if you’d like to pay with crypto or with a card. For this example, we’ll use a card. If you want to buy using crypto, you’ll need to load your wallet with cryptocurrency.

4. Review fees 

You may notice that your total is higher than the listed price for that NFT. This is due to network (“gas”) fees and, if you’re paying with a card, processing fees. The gas fee occurs on all transactions on the blockchain and the amount varies based on a variety of factors, such as how many people are using the network at that moment. OpenSea does not receive these fees. Learn more about gas fees here.

5. Enter your payment information

Follow the prompts and enter your information to complete your purchase. If this is your first time purchasing with a card (through MoonPay), you may be asked to verify your identity.

6. Your purchase is complete!

Once you’ve entered all your necessary information and clicked “Pay”, your NFT purchase is officially complete and has been written to the blockchain. Congratulations on your NFT purchase!

7. Check out your newest NFT

After a few seconds, your brand new NFT should be visible in your collection. You’ll be able to see your new NFT in your OpenSea profile!

🧠 Q&A

Can I resell an NFT?

Yes! You can list an NFT you own for sale, put it up for auction, or wait until you get an offer on it. Read more about selling NFTs here.

Why should I buy NFTs?

There are many reasons to buy an NFT that all depend on what the NFT is. You may like the art, want to support the creator, gain access to exclusive content or events, or find a community you identify with. Learn more about the different types of NFTs here.

How can I know if an NFT is authentic?

Like any purchase, you want to make sure what you’re buying is authentic. Blue check marks mean a creator is verified by OpenSea or a verified user created the project (to learn more, we have a guide on NFT verification and more information about our commitments to removing copymints. You can also check if the collection is linked to an official Twitter account. Keep the golden rule in mind: if it seems too good to be true, it probably is!

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