Crypto.com NFT Marketplace in Focus
If you want to buy and sell non-fungible tokens (cryptographic tokens representing something distinctive), have you looked at the Crypto.com NFT marketplace? Given the popularity of the search term 'crypto com NFT', it seems many have.
In contrast to bitcoin and other cryptocurrencies, it does not represent an interchangeable commodity. Therefore, unlike money, you cannot part with an NFT and replace it with something of equal value later. The main use of NFTs is within the digital art world.
While digital art can be copied by duplicating the file, NFTs put an end to that by encrypting the digital source of artwork with blockchain, preserving its origin. Consequently, the person in ownership of an artwork's NFT holds the 'original' piece and affords a value to the art beyond what you might expect from a computer file.
NFTs are sold to other collectors for as much as they are prepared to pay. The boom in popularity of NFTs over the past year has seen many marketplaces spring up that offer NFT trading services. The Crypto.com NFT Marketplace is one.
The marketplace contains several NFTs to buy, ranging from art and gaming to sports and music. Each NFT is either listed at a fixed price or through a traditional auction, offering flexibility for buyers and sellers. Due to a large amount of art NFTs on the marketplace, Crypto.com allows users to filter through by blockchain, price, listing date, likes, and views.
NFTs can be purchased on the marketplace using a credit or debit card, unlike other NFT marketplaces that require crypto to facilitate payments. The platform will now offer Ethereum-based NFTs, further expanding the potential universe of assets.
Crypto.com does not charge any fees to the buyer when an NFT purchase is made. In contrast, other NFT marketplaces charge a commission when making a purchase. Furthermore, the Crypto.com DeFi wallet also supports NFTs, and allows users to purchase NFTs using FIAT currency. Selling NFTs on Crypto.com costs a fee of 1.99% per NFT, and applies to the initial sale of the NFT to incentivize more creators to join their platform.
This fee structure works well for those regularly buying and selling NFTs. In the long term, it could save them significant amounts.
Since the Crypto.com NFT Marketplace launched in September 2021, they have onboarded over 10,000 creators and built a 46K-strong following on their Twitter page and a growing Discord community.
For more NFT news, see here.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.