There’s no way you can talk about the upsurge in the cryptocurrency world without mentioning the new drive – Non Fungible Tokens (NFTs). In recent years, NFTs have brought more profit-making opportunities to the digital currency space giving young folks a golden opportunity to flex their creative muscles and make a considerable amount of money as a reward. Thanks to the advent of NFT launchpads, NFT creators now have several dependable platforms that make it easier to raise liquidity to develop, launch and market NFT projects, as simple as it sounds.
Without a doubt, NFT launchpads have proven to be an intelligent addition to the crypto launchpad community. It allows holders to convert physical and digital assets creating a new vibrant ecosystem where interested participants can come together to trade in-game items, art, music, and more for huge profits. Click here for comprehensive guide to understand the development of metaverse NFT launchpads.
NFT launchpads remain one of the most credible platforms that provide easy ways to make a massive fortune on digital platforms. Little wonder, most young folks in developing countries are putting their funds on NFT platforms solely intending to have financial freedom.
Would you also love to join the trend and start generating colossal income? That’s what you are about to learn in this article. You will discover the best way to invest your money in non-fungible tokens (NFTs) in practical steps as you read.
But before we dive into details, it is vital that we first understand what it means to invest in NFTs from an expert point of view. That way, you will know how to maximize the opportunities on NFT launchpads to your advantage and void the common pitfalls.
How does NFT Investing Work?
To invest in NFTs, you should go for the best available. Hence, you-ness a vast understanding of at NFTs stand for and how the investment can work for you.
As you might have noticed earlier in this article, NFTs (Non-fungible tokens) are digital assets that guarantee ownership of a specific physical or digital asset. The asset could be anything from arts, music items, in-game properties, pictures, designs, and more. Most NFT trading links with digital music, art, images, and blockchain gaming items.
NFTs host on the blockchain, a decentralized network that holds the operations of several cryptocurrencies. Blockchain technology was not so much popular until Bitcoin came into the finance limelight. Although there has been so much improvement on the platform, many other impressive networks have come out to fortify and elevate the foundation Bitcoin laid years ago.
Ethereum is among the newer networks that have risen to become the leading force in the NFT space. Binance Smart chain, Solana, and Cardona are also top players in blockchain technology.
The NFT Marketplace
If you are ready to invest in NFTs, you can’t do without NFT launchpads. Launchpads are also known as a marketplace where investors come in contact with creators to discuss business. A credible NFT launchpad provides an easy-to-use digital space for investors like you to browse NFTs created for purchase.
In most cases, NFTs are listed for a price, or you can purchase them through an auction in which you compete with other interested buyers to bid until the highest bidder wins the NFT. In this instance, you may pay more than you initially budgeted; that’s why most buyers prefer going for NFTs listed for fixed prices.
Lastly, on this part, You will need a crypto wallet to keep the crypto required to facilitate the NFT purchase transactions and even the NFTs themselves. A quick reminder, NFTs work in the cryptocurrency ecosystem. Hence, obtaining a crypto wallet is essential.
How to Invest in NFTs Launchpads
After you have understood what NFTs mean and how their lNFT launchpads works, the next thing is to learn how to invest. Why? Every successful investment has a method that has been proven effective over several years. Frequently, people ask if NFT investment is profitable. Well, I will confidently say a big YES! But, how much you understand the process determines your NFT investment’s success.
Without further ado, let’s learn the how in practical steps.
Step 1: Create a MetaMask Wallet
You can purchase Lucky block NFTs through NFT launchpads, one of the most dependable platforms where you can trade digital assets. Meanwhile, NFT launchpads can only link you to a MetaMask wallet, and you get a guide to set it up in the straightforward instructions provided on the page.
On the MetraMask official website, you will find the options to download the app and add it to your internet browser.
Step 2: Add BNB Chain to your MetaMask account
MetaMask is linked only to the Ethereum blockchain. So, by default, it automatically takes you to the Binance Smart Chain. Getting to the page, locate the ‘Add Network’ button on the wallet’s setting menu and click on it. After that, the page will display empty dialogue boxes which require the following information:
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: http://bscscan.com
Make sure you enter the above information precisely as written. Then, click on ‘save’ to connect your MetaMask wallet to the Binance Smart Chain.
Step 3: Obtain Wrapped BNB (BnB)
Lucky Block NFTs denominates in wBNB (wrapped BNB), a replica of BNB, but conform to the standards of the BNB Chain. You can obtain wBNB via PancakeSwap on Defi exchanges. You can transfer your tokens into the MetaMask created when you purchase your wBNB.
Step 4: Link the wallet to the NFT launchpad
The next step is to visit a credible NFT launchpad to connect your wallet. When you log in to the site, find the ‘Connect Wallet’ button and click on it. Then, follow the simple steps to link your wallet to the platform.
Step 5: Purchase NFTs
Lastly, browse for NFT Collections on NFT and choose the NFT you want to purchase. Note that the; price can range from 1 – 10 000. After you might have found your favorite, click on ‘Buy Now and confirm the transaction. Once that is done, the NFT transfer begins and gets stored in your wallet in seconds.
Investing in NFTs can be life-changing if you know how to do it. The massive outburst of several NFTs in the present market has made it more challenging for beginners to make the right investment move. However, with the aid of NFT launchpads, you can monitor the progress of each NFT available to make an informed decision.