With the rise in popularity of NFTs (Non-Fungible Tokens), it’s no surprise that the one-stop-shop for crypto, Crypto.com has jumped in on the act. Crypto.com will be offering unique digital content from the likes of Bosslogic & Snoop Dogg on their new Crypto.com NFT platform.
In this review, we’ll take a look at what Crypto.com NFT is, what are NFTs, how to buy NFTs, and the different payment methods and supported wallets.
What is Crypto.com NFT?
Crypto.com NFT is looking to become the world’s largest and most user-friendly NFT platform. Having the aim is to accelerate the world’s transition to cryptocurrency, with NFTs being the next step.
Crypto.com launched its NFT platform on March 26th, 2021. The platform is dedicated to delivering unique content to collect and trade from the most popular artists, musicians, and sports. These include the likes of Aston Martin, BossLogic, Boy George, Snoop Dogg, and Lionel Richie.
Leading this brand new venture is Crypto.com’s newly appointed Executive Vice President Global Head of NFTs Joe Conyers. Joe was named a Digital Power Player by Billboard Magazine four years in a row, and most recently served as Chief Strategy Officer at Downtown Music Holdings. Joe brings over a decade of experience building global businesses that support artists.
Crypto.com’s first NFT dropped on March 26th, 2021, is was a new collection entitled “Greater Heights” by Marvel artist BossLogic. Within 24hrs of going live, the “Greater Heights” collection from BossLogic completely sold out. Some of the digital artwork is already being resold on the platform, with editions going for more than $5000. If you would like to track the prices and history of the artwork being sold, check out NFT LamboFactory.
Future drops include partnering with Aston Martin Cognisant Formula One. Who are introducing NFTs as a way to celebrate the team returning to F1 for the first time in 60 years. On Saturday 27th March, the crypto.com NFT platform will offer a new way for their fans to own a piece of their history. And the collection of NFTs they’re making available will capture the very first moments of their return to F1.
Boy George also has a drop. Which will display his creativity and brings together animated and still versions of his own paintings together with his iconic music, representing the full breadth of his artistic output.
What are NFTs?
An NFT, or “Non-Fungible Token” is type of digital asset. These NFTs are unique and one of a kind and can be bought or sold like any other piece of property or artwork.
In the same way as cryptocurrency, the ownership of your NFT is recorded on a blockchain. Therefore records cannot be forged as its maintained by computers all around the world.
NFTs can also contain smart contracts that could possibly include royalties for an artists for any future sales.
How to Buy NFTs?
To buy an NFT with Crypto.com, you simply register and create a Crypto.com NFT account on their site. This will include providing your name, email address, and a display name for your profile. You will then be required to verify your email address and login.
When a drop is available you will be able to view this under the “Drops” section of their site. If its not yet “Live” you can also subscribe to be notified when these are launched.
Locate a listing that you would like to purchase, this will then provide you with the description of the NFT, plus the description and cost. You can also “view available editions” to choose a specific one.
When you are happy you can then select to “Buy your NFT”.
You’ll then be prompted for your payment method.
Any collector or fan can pay for NFTs, regardless if they are a crypto.com user or not. Users can pay with a single click with a credit or debit card.
Alternatively, existing Crypto.com App users can pay using the Crypto.com Pay feature. Meaning that they can purchase their NFTs with the likes of Bitcoin, Ethereum, and the more recently added Dogecoin.
Payments with the Crypto.com App is incredibly easy to do. Simply scan the QR code shown on the screen with your crypto.com app and confirm the payment. Plus this is instant and there are no network fees to pay.
What can you do with your NFT?
Once you have your NFT what you do with it is up to you. You can keep it as a collectable, or you can sell it. Any NFTs purchased can be found under “My NFTs”.
Under the “Explore” tab within the platform, you’ll find a host of NFTs being sold by users on Crypto.com NFT. Where you’ll find see the editions that are available to buy, the current owner at the price.
This is great for those who might miss out on a drop and still want to get their hands on these popular NFTs. Or, for those looking to make a bit of money on the artwork that they’ve purchased.