NFTs were introduced in 2017 and were first made official. Since then, it has come a long way. Off lately, NFTs are gaining huge popularity and traction across the globe. These are among the top digital entities which enthusiasts all over the world are trying to collect. While some look forward to enhancing their collection, others are eyeing the investment opportunity that NFTs offer.
For those who are unaware, NFTs (Non-Fungible Tokens) are a type of digital entity, much like the cryptocurrency copied or substituted. However, unlike cryptocurrencies, these cannot be exchanged or traded at equivalency. These are completely unique cryptographic tokens on a blockchain differentiated from one another based on their unique identification codes & metadata.
How To Buy An NFT?
If you are now wondering how you can get your hands on one of these, look no further. There are online NFT marketplaces, which enable artists across the globe to exhibit their art and list them for people to purchase. However, unlike other virtual eCommerce platforms, NFT marketplaces enable transactions through digital tokens and cryptocurrencies. As soon as an entity gets sold on an NFT platform, its ownership gets transferred and the buyer can store the newly acquired digital entity in a crypto wallet.
One such marketplace is UPCRIC, a rising sports-based NFT marketplace that will be soon launched in India. Upcric, basically, allows a user to not only own some extremely cool NFTs but also allows the user to place trades and earn a profit on different events within the match, using their knowledge of sports. Users can invest, and trade across different categories within each game, depending on their opinion and they are rewarded with NFTs which are automatically sold back to Upcric, at a profit (which is also called potential payout), if their opinion is correct. Or it remains stored in their account, in case the opinion and the outcome of the specific trading market are different from your opinion.
While there are multiple types of NFTs available for buying & trading, sports-based NFTs are among the fastest-growing segment of NFTs. Sports NFTs include but are not limited to unique virtual memorabilia, digital trading cards, autographs, and much more.
Given the high percentage of sports fans worldwide, the sports NFTs give sports brands, clubs, and athletes, a monetization opportunity. Since their inception, sports-based NFTs have become hugely popular as these give sports fans an opportunity to own rare & unique collectibles. As the demand for a rare collectible increases, its value also gets impacted. There are many people who have sold their sports NFTs for substantially higher prices attracting the interest of investors towards them.
They have decided to use their expertise to create the best and safest Sports NFT Trading platform in India to enhance the match-watching experience for fans of the sport. While you back your favorite team, or player, to perform and win, you can buy NFT Units, which are customized and curated across categories like player NFTs, Team NFTs, and NFTs for events within each game.
Important Points to Consider Before Buying NFTs
Now that you have some information at hand as to what NFTs are, how & why it can be beneficial to invest in these, it’s time to consider the vital points that you should be aware of before jumping onto this bandwagon.
If you are looking from an investment perspective, the first step would be to decide on the budget (as to how much you are willing to safely spend). Thereafter, you would have to start your research on which project you’d like to invest in. There are some platforms that can be helpful in your research. Another significant consideration would be the credibility of the seller. Online NFT communities could be helpful in staying abreast with newer developments in the NFT space and thus, one should be a part of such channels. While you cannot trust all the information being shared here but some discussions are quite knowledgeable.
In addition to these, rarity score and gas fees are other couples of terms that you should be aware of before entering the NFT market. While the former determines how rare an NFT is, the latter is essentially the unavoidable transaction fee that can also depend on the platform that you have chosen to purchase or sell your NFT.
At Upcric, you get a niche concept, easy to use, and a secure environment. One of its outstanding features will be low investment options for people, as one would be able to invest from as low as 100 INR.
All you need to do is follow the below-mentioned steps and upgrade your trading experience with Upcric
1) Signup on upcric.io
2) Explore multiple trading options (across sporting events) & their respective payout
3) Make use of your sports acumen & start trading in NFTs of your favorite sport, events, players
4) See your NFT trade get published on the blockchain
The bottom line is that you would need a safe and reliable platform if you are starting out in the NFT space. At the same time, ensure that you are not investing more money than you can afford to lose as buying/selling these digital assets is accompanied by a risk factor.
While it is hard to predict what will happen in the future, you can minimize the risk by using a safe & reliable digital platform. One of India’s safest NFT platforms in India is UPCRIC which offers a genuine and stable marketplace for selling & purchasing NFTs.