The past year has changed the world in many ways, including how we look at personal finance. With young investors looking to diversify their portfolios by moving beyond the traditional formula of SIPs and mutual funds, digital assets like cryptocurrency and NFTs took center stage. If you’re someone who has always wanted to be an art collector, now is the time to hop on the bandwagon.
Non-fungible tokens are all the rage and rightly so. They secure the ownership of digital tokens on the blockchain, recording their uniqueness. As of yet, there is no separate regulatory framework surrounding NFTs in India, making it extremely convenient and easy to acquire and collect them. Here are 5 platforms to explore and have a look at the hottest NFT drops this year:
If you’re someone who is just beginning to understand NFTs, NFTically is your one-stop solution. A marketplace in itself, NFTically hosts a plethora of NFT stores on its platform. The user-friendly interface makes the process of both buying and selling extremely uncomplicated. Further, NFTically also accepts wallet and card payments, making NFTs extremely accessible. The platform partnered for exclusive drops with well-established names such as AnyDay, AltiusDAO for Milkha Singh’s collectibles, and ZEE Studios for various projects.
WazirX is a platform that gained popularity as the first centralized cryptocurrency exchange in India. Taking it forward, they have also launched an NFT marketplace. Their carefully vetted set of spotlight artists makes things convenient for collectors.
The platform prides itself on being a marketplace for rare digital collectibles. With strong analytics and multiple offerings for NFT enthusiasts, OpenSea has built a credible name.
Powered by the Binance blockchain infrastructure and community, the Binance NFT marketplace is a relatively new but known name in the NFT space. Their marketplace allows users to not just buy but also bid for collectibles from around the world.
Rarible is also a marketplace for the sale and purchase of non-fungible tokens. Launched in 2020, the platform is built primarily on the Ethereum blockchain. Additionally, rarible is governed by its native cryptocurrency token RARI, giving users the power to vote on the development of the platform.
There are a number of other platforms paving way for themselves in India’s up-and-coming NFT space. In most of these marketplaces, you can pay either through the platform’s wallet or you can pay via cryptocurrency. To add to that, as a first-time collector, it would be a good idea to speak with a friend fluent in the crypto-verse to ensure you’re getting a good deal. Au Revoir as you ride the NFT wave!