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NFT or non-fungible token is a digital asset that exists on the Ethereum blockchain platform. Each NFT is unique and cannot be replicated, whether it be collectable items like sports or cartoon character cards, digital lands which can be accessed in video games and VR or digital pieces of art.
We remember when we first heard of NFTs – it sounded so surreal. But as we delved deeper into this fascinating subject, our interest piqued. I know all of this can be a bit confusing to the uninitiated (we know we were!) and we’re gonna try our best to unpack this enigma in this guide.
An easy way to get to know the digital art collectible aspect of this, I’ve always felt it’s kind of like Pokémon cards; they’re a certain niche that appeals to a certain audience. These cards have different characters with different values and they each differ in rarity and uniqueness.
As mentioned, the same is with a lot of NFT artwork you’ve probably heard about. Often, they’re collectable. For example, once you acquire a certain amount, you might win a super rare edition from the same collection. This edition could potentially be quite valuable and that makes even more people want to get a piece.CNFTs are the same deal, except those are Cardano based NFTs. They exist on the Cardano blockchain platform.
I know, I know; we’re talking about .jpegs and .mp3s that are selling for ridiculous amounts of internet money on the internet. Crazy, right? This is where supply and demand comes in. Some pieces become desirable and a reason for that may be that a celebrity or a public figure has endorsed it (Hey, Elon!) or a known artist created one, automatically making it more valuable. There’s also FOMO (fear of missing out) which can have an effect on the market.
And of course, in comes the digital land aspect. This one is a doozy. You can buy a piece of land, an actual digital property that you can visit in a video game or VR. Welcome to the future, we have digital real estate, essentially, where you can store your digital artwork and keep it up for display.
There’s also NFTs with utility. These tokens may grant you access to bonus content, give you a claim to royalties or act as avatars and/or characters in a video game. Utility NFTs are on the rise as they offer more than just a nice image to look at. For instance, some of them may be useful in the Metaverse when it rolls around.
Wild times, right? We think so.
But there’s a caveat. As this magnificent meta-market is on the rise with all of its wondrous potential, forgeries and fakes inevitably hitch a ride. After all, NFTs and CNFTs have given more and more artists the opportunity to get recognized for their hard work and make a profit. Unfortunately it also opened the door to scammers and hackers and who wants to deal with that? Make sure the pieces you are spending your hard earned crypto on are authentic.We recommend:
1. Checking out different marketplaces to see if the same artwork exists there. If it does, chances are some of them may be fakes.
2. Artists tend to post their listings on social media, so it might be a good call to check that out as well.
3. With CNFTs, however, because there isn’t a smart contract (yet) if you want to verify its authenticity, you need to check that the Policy ID matches with what the creator listed.
For buying CNFTs, you need a Cardano wallet. There’s a variety of wallets, like: ADALite, Daedalus, Nami and Yoroi, to name a few. Once you’ve got that down you can go ahead and visit a CNFT marketplace of your choice.
Popular marketplaces:
jpg.store
CNFT.io
SpaceBudz.io
PIXLZ.org
epoch.art
Tokhun
Now you’re ready to venture into the realm of Cardano based NFT deliciousness! Just keep in mind the Policy ID and as always, be careful with your funds.
This is not financial advice. Please do your own research. This site is simply a collection of drop dates for CNFT projects. The information about drop dates, prices and supply may change at any time due to the fast paced environment of the space and as such, we may not be able to update all the projects in time. Please verify everything yourself before buying. We are not responsible for your funds. If you choose to continue, make sure you are careful in doing so. Stay safe.
- CNFTRadar Team
