Collecting NFTs can be a fun hobby for people who are interested in technology, cryptocurrency, art and collectibles. Explore these great NFT platforms and beginner information to get started!
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What are NFTs?
NFT stands for Non-Fungible Token.
It is a digital asset that represents ownership of a unique item or asset, such as artwork, collectibles, and even virtual real estate.
NFTs are stored on a blockchain and are unique because they cannot be exchanged for other tokens or assets on a one-to-one basis like Bitcoin or other cryptocurrencies.
This is because NFTs represent ownership of a specific item, which makes them unique and non-interchangeable. Some people buy and sell NFTs as a form of investment, while others collect them as a hobby.
If you are new to the world of crypto, we recommend checking out our Beginner’s Guide to Bitcoin & Cryptocurrencies before purchasing NFT’s.
Is collecting NFT’s a good hobby?
Sure! NFTs can be collected as a hobby in much the same way that people collect physical items like stamps, coins, or artwork. The main difference is that NFTs are digital assets that are stored on a blockchain, rather than physical objects.
One way that people might collect NFTs as a hobby is by purchasing artwork or other creative works that have been turned into NFTs.
For example, an artist might create a digital painting and then issue a limited number of NFTs representing ownership of that painting. Each NFT would be unique and could not be exchanged for any other NFT on a one-to-one basis.
Collectors of NFTs might also be interested in buying and selling NFTs as a way to build their collection. Just like with physical collectibles, the value of an NFT can fluctuate based on a variety of factors, including the rarity and desirability of the item it represents.
Overall, collecting NFTs as a hobby can be a fun and exciting way to engage with digital art and culture, and to potentially build a valuable collection over time.
Check out our list of Items to Collect for more ideas to start a hobby collection!
Where can I buy NFTs?
There are many places where you can buy non-fungible tokens (NFTs), and the best one for you will depend on your specific interests and needs as well as which cryptocurrency and wallet you prefer.
Here are a few of the best NFT platform options to consider:
OpenSea
OpenSea is one of the largest and most well-known NFT marketplaces, and it offers a wide variety of NFTs for collectors and enthusiasts to browse and purchase. It is an online destination for people interested in exploring and engaging with the world of NFTs.
It is a platform that allows users to browse and discover NFTs of all types, including art, collectibles, and virtual real estate.
Users can buy NFTs directly from the platform using cryptocurrencies such as Ethereum.
They can also list their own NFTs for sale on OpenSea and set their own prices. OpenSea takes a percentage of each sale as a fee for its services.
Coinbase NFT
Coinbase NFT is a platform for buying and selling non-fungible tokens (NFTs) that is operated by Coinbase, one of the most popular cryptocurrency exchanges in the United States.
It allows users to browse and purchase a variety of NFTs, including art, collectibles, and virtual real estate with a variety of cryptocurrencies and blockchains.
Coinbase NFT is known for its user-friendly interface, easy-to-use payment system and robust platform of products include the Coinbase Wallet and Coinbase Exchage.
Overall, Coinbase NFT is a major player in the NFT space and is a good place to consider if you are looking for a simple platform to buy or sell NFTs.
SuperRare
SuperRare is a platform that is focused on digital art and features a curated selection of non-fungible tokens (NFTs) from talented artists. It is known for its high-quality artwork and strong community of artists and collectors.
One of the key features of SuperRare is its curation process, which ensures that only the best and most interesting artwork is featured on the platform. This makes it a great place for collectors to find and purchase unique and valuable NFTs.
NBA TopShot
NBA TopShot is a platform that allows users to buy, sell, and trade collectible non-fungible tokens (NFTs) featuring highlights and moments from NBA games. It is run by Dapper Labs, the same company behind the popular CryptoKitties.
Each NBA TopShot NFT represents a unique and limited edition highlight from an NBA game, such as a dunk or a three-pointer. These highlights are packaged into “packs” that users can purchase and open to see what highlights they have received. Users can then trade or sell their NFTs on the NBA TopShot marketplace.
NBA TopShot has become extremely popular and has helped to bring attention to the world of NFTs. It is currently one of the most popular NFT platforms, with a strong community of collectors and enthusiasts.
Rariable
Rarible is a decentralized marketplace for non-fungible tokens (NFTs) that allows users to buy and sell a wide variety of digital assets using Ethereum. It is known for its user-friendly interface, which makes it easy for users to browse and purchase NFTs, as well as its features that allow users to easily create and sell their own NFTs.
One of the standout features of Rarible is its “Create” feature, which allows users to create their own NFTs and list them for sale on the platform. This makes it an attractive option for artists and creators who want to get involved in the NFT space and sell their own work.
In addition to its user-friendly interface and strong focus on creators, Rarible is also known for its active community of NFT collectors and enthusiasts. The platform features forums and other social features that allow users to connect with each other and discuss NFTs and other topics.
Rarible currently supports Ethereum, Polygon, Solana, Flow and Tezos, and plans to integrate more blockchains in the near future.
Nifty Gateway
Nifty Gateway is a digital art online auction platform for non-fungible token art founded by Duncan and Griffin Cock Foster, and has since been acquired by Gemini and the Winklevoss twins.
Nifty Gateway has sold NFTs by Beeple, Pak, Refik Anadol and other widely followed NFT artists.
Nifty Gateway is known for its partnerships with major brands and celebrities, which has helped to bring attention to the platform and the NFT space in general.
NFTs on Nifty are stored in a secured wallet, powered by Gemini’s state-of-the-art custody technology.
By doing this, collectors are able to move work on platform (buy, sell, gift) without the cost and hassle of gas fees. In the off chance you lose access to your account, or forget your password – all is not lost, we can help you retrieve these.
Mintable
Mintable is a platform that allows users to easily create and sell their own non-fungible tokens (NFTs). It is designed to be user-friendly and accessible, with features that make it easy for anyone to create and sell their own NFTs.
On Mintable, users can create NFTs using a variety of templates and customization options. They can then set a price and list their NFTs for sale on the platform. Mintable takes a percentage of each sale as a fee for its services.
In addition to its NFT creation and sales features, Mintable also has a marketplace where users can browse and purchase NFTs created by other users. It is a popular destination for artists and creators looking to get involved in the NFT space and for collectors looking for unique and interesting NFTs to add to their collections.
Mintable allows you to browse its marketplace to make bids and purchases on digital items. These items live on the blockchain and are deposited into your wallet upon purchase. The Ethereum blockchain records all transactions providing indisputable proof that you are the owner, crediting the seller in the process. All items feature a preview image illustration making them recognizable in your wallet. Some digital items will contain private files (digital content) that can only be unlocked by their owners.
Upon purchasing, both the seller and buyer’s wallets are credited with a MINT token. This is a collectible token that gives users voting rights in the Mintable DAO.
Jpg.store
JPG.store is the an NFT marketplace, operating primarily on the Cardano Blockchain.
The JPG store marketplace that allows you to discover artwork, support creators and join communities on a decentralized blockchain.
On JPG, you can buy & sell Cardano NFTs, make offers, customize your profile, and much more to make the Cardano NFT experience even better!
For creators, JPG store has a Launchpad to support artists in the Cardano community as well as a minting feature that enables artists to turn their artwork into an NFT.
Binance
Binance NFT is a non-fungible token (NFT) platform launched by Binance, a leading cryptocurrency exchange.
The platform allows users to buy, sell, and trade NFTs, which are digital assets that are stored on a blockchain and can represent a wide range of items such as art, collectibles, and even virtual real estate.
Binance NFT aims to provide a marketplace for creators to sell their NFTs and for collectors to discover and acquire unique and rare NFTs.
The platform also includes tools and resources for creators to mint, manage, and track the ownership of their NFTs.
It is important to note that Binance NFT is a separate entity from Binance.US, which is a digital asset exchange that primarily focuses on trading cryptocurrencies.
Enjin
Enjin is the leading ecosystem for non-fungible tokens (NFTs), offering a comprehensive suite of products for creating, trading, distributing, and integrating NFTs into virtual worlds.
As a scalable, affordable platform, Enjin’s technology has seen wide application in blockchain games, apps, enterprise programs, and innovative marketing campaigns.
The Enjin ecosystem is fueled by Enjin Coin (ENJ), a utility token used to back the value of blockchain assets, and the native ERC-1155 token standard created by Enjin CTO Witek Radomski. To date, over 1 billion Enjin-powered blockchain assets have already been created.
Enjin kickstarted the NFT movement on Ethereum, creating the advanced ERC-1155 token standard, which is implemented alongside a unique token infusion mechanism that now powers billions of digital assets on the blockchain.
The company has released a full ecosystem of blockchain software products and solutions that enable developers, businesses, and individuals to create, manage, trade, distribute, and integrate NFTs.
This integrated ecosystem is comprised of an NFT minting platform, wallet, marketplace, SDKs and plugins, a robust API, and a QR code asset distribution service.
What are the risks of collecting NFTs?
There are a few risks to be aware of when it comes to non-fungible tokens (NFTs):
- Market risk: As with any investment, there is a risk that the value of an NFT could go down. This could be due to a variety of factors, including changes in market demand or the failure of the project or platform associated with the NFT.
- Technology risks: NFTs are built on top of blockchain technology, which is still a relatively new and rapidly evolving field. This means that there is a risk that the technology could change in ways that could impact the value or usability of an NFT.
- Scams: As with any online market, there is a risk of scams and fraud when buying and selling NFTs. It’s important to do your own research and due diligence before making a purchase, and to be cautious of any offers that seem too good to be true.
- Cybersecurity risks: As NFTs are stored on a blockchain, there is a risk that they could be hacked or stolen. It’s important to take steps to secure your digital assets and ensure that they are safe from cyber threats.
- Legal risks: The legal status of NFTs is still somewhat unclear in many jurisdictions, which could create uncertainty and risk for NFT buyers and sellers.
Overall, it’s important to be aware of these risks and to carefully consider them before buying or selling NFTs. It may also be a good idea to seek the advice of a financial or legal professional if you have any concerns.
How can I keep my NFTs safe?
The safest way to store your non-fungible tokens (NFTs) will depend on your specific needs and the type of NFTs you have. Here are a few general tips for storing your NFTs securely:
- Use a hardware wallet: One of the safest ways to store NFTs (or any type of cryptocurrency) is to use a hardware wallet. These are physical devices that allow you to store your NFTs offline and keep them secure. Hardware wallets are generally considered to be much more secure than software wallets, as they are not connected to the internet and are therefore less vulnerable to hacks and other cyber threats. We recommend investing in a Ledger Nano X or a Trezor Hardware Wallet to protect your cryptocurrency and NFTs.
- Use a secure software wallet: If you prefer to use a software wallet, it’s important to choose one that is reputable and has a good track record of security. Look for a wallet that has strong security features, such as multi-factor authentication and secure backup options. Check out Coinbase Wallet as a simple and secure interface to protect your NFTs.
- Keep your private keys safe: Your private keys are what allow you to access and control your NFTs. It’s important to keep them safe and secure, as anyone with access to your private keys can potentially access and control your NFTs. You should never share your private keys with anyone, and you should consider using a hardware or software wallet to keep them safe.
- Enable additional security measures: Many NFT marketplaces and wallets offer additional security measures that you can enable, such as 2FA (two-factor authentication) or account recovery options. These can help to further secure your NFTs and give you additional security and peace of mind.
It’s important to be proactive in protecting your NFTs and to choose storage solutions that are reliable and secure.
Overall, NFT collecting is a rewarding and engaging pastime for those interested in the convergence of art, technology, and collectibles and can provide a sense of connection and camaraderie with like-minded individuals in online communities.
This article is not financial advice and we at Fresh Hobby are not financial advisors. We aim to educate and offer an avenue to learn more about hobbies and interests, not to advise financially.
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