NFT (Non-Fungible Tokens) have seen a massive increase in prices over the past few months. This can turn down new investors as the concept of NFT is still debatable, and no one would like to invest such a high amount into something this new. So if you are in the market to buy an NFT but don't want to empty your bank account, then worry not. We will show you some of the best places to buy cheap NFTs.
Disclaimer: This article is intended for educational purposes only. Information is provided according to reliable sources and industry trends. The value and position of NFT in the market are susceptible to change. Please do your research and background check before investing.
Best Places to Buy Cheap NFT
The sudden increase in NFT prices is due to their exploding popularity and the fact that they are based on Ethereum Blockchain. So the gas fee creator has to pay during minting and the transaction fee on buying NFT is quite high. We will suggest the best places to buy cheap NFTs on different blockchains and other cheap NFT ideas.
WazirX NFT Marketplace (Binance Smart Chain)
WazirX is a crypto exchange platform that recently started its NFT marketplace. It features unique and beautiful artwork created by Indian artists who add their touch of Indian culture to the artwork. The artwork is sold in WRX which is a platform token. The platform itself is based on Binance Smart Chain which is a great alternative to Ethereum Blockchain. The BSC helps keep the cost to a minimum due to comparatively fewer transaction fees.
Binance NFT Marketplace (Binance Smart Chain)
Binance is another cryptocurrency exchange platform and lately has been doing well for itself in the field of NFT. Their NFT marketplace hosts several good collections that you can buy for a cheap price. They are also focusing on gaming NFT projects and Metaverse projects so you can invest in those as well if you like. Gaming projects may have a play-to-earn model so you will be able to earn back your investment cost.
Unstoppable Domains (Ethereum Blockchain)
Unstoppable domains let you buy domain names and extensions as NFTs. The biggest plus side to this is that you can use these domain names for your website and use them like regular domains or add them as addresses to your crypto wallet.
These domains are cheap as long as you don't buy any premium options. They are based on Ethereum, so you will need to factor in high gas prices with the price tag of your NFT.
Also, read | Unstoppable Domains: Buying domain NFT and features
Solana is another rival crypto blockchain, and they feature their Marketplace called Solanart. Solanart is gradually growing in the NFT space, and some of the NFTs featured in Solanart were sold off for three times their value.
Some of those projects, like Solana Monkey Business, don't exist now, but you can still look up projects like Sollama that are available at a cheap price and show promise. The transaction fee on Solana is very low, so you are paying the asking price of the NFT.
Fractional art (Ethereum Blockchain)
Fractional art allows you to become a partial owner of an NFT. This lowers the barrier of entry, and people can get partial ownership for a marginally lower price.
You can find some popular projects whose prices are unbelievably high, and you can invest a small amount of money to buy a fraction of a percentage of ownership. You can then use it like you want to, and when the NFT is sold, the profit is equally distributed among all owners.
Metaverse games like Decentraland, Sandbox, and Axie Infinity also feature their own NFT. These are in the form of in-game items, animals, creatures, or avatars that you can own by using the game's native cryptocurrency.
You can buy these coins as a crypto investment or use them to buy NFT on their respective platforms. You can even earn the coins by just playing the games and doing tasks. This lets you invest in Metaverse, NFTs, and crypto simultaneously.
To learn more about Metaverse crypto and what you can buy with them, you can read our article on Metaverse coins.
Other ways to get cheap NFT
Social media websites like Twitter, Telegram, and Discord have a massive influence on the NFT market. New NFTs that will be minted get announced on these platforms. So if you want to make the best out of your NFT investment, then you will need to be active in the NFT circle on all three of these platforms.
Also, make sure that there is decent and good community support before investing in an NFT. A good community of around 5-10 thousand and preferably more is crucial. This is because if the community is less, there can be a liquidity problem. That is, you will find it hard to sell your NFT in the market as it's difficult to sell them outside the community.
Also, read | Create and Sell Your Own NFT in 3 Simple Steps
The future of NFT is very hopeful that it will grow further with new blockchains also joining and creators putting out more new and jaw-dropping arts and games, so it is wise to get into the NFT circle sooner rather than later. But we will recommend doing your research before investing.
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