Today, any lover of the nft music world faces a very high barrier to start buying these tokens.
The world of nfts is relatively new and because of that there are steps in the process that are not so easy to do.
As the blockchain world becomes more popular the ways of trading nfts and cryptocurrencies will change.
Therefore, we wanted to make this tutorial on how to buy nft music, so that anyone who is interested in buying a music token knows the steps to go through today.
Getting started in the NFT world is not an easy task, as it requires a minimum of knowledge about blockchain and cryptocurrencies. Therefore, in this post we explain how you can get started in this world as a buyer or creator.
What are NFTs?
The first step to get into the world of NFTs is obvious: to know what they are. There is a lot of misinformation about NFTs, so we 100% recommend you to read the post NFTs: What Does NFT Stand For?.
Broadly speaking, an NFT is a new form of digital property that is possible thanks to blockchain technology. We can make an NFT of anything: from an illustration, to representations of physical goods such as chairs or bottles of wine. The important thing is that we will always need a file linked to the NFT, which will usually be an image.
Choose the Blockchain
The second step to enter the world of NFTs is to know in which blockchain you are going to collect or create (mine) NFTs. Each blockchain is a different ecosystem with different decentralized applications (Dapps). It’s a bit like using MacOS or Windows: everything is similar and there are things in common but they are not the same. However, don’t worry because many people use several at the same time.
The most widely used blockchains are Ethereum and Tezos, although there are many more such as Binance, Solana and Cardano.
The main blockchain is Ethereum, as it was one of the first to make NFTs possible. This has made it the blockchain where there are more collectors and dapps, having the most developed ecosystem. The downside of this blockchain is that the gas fees, which are the fees you have to pay to make a transaction within the blockchain, at times can be quite high. This means that we will pay to create an NFT from $35 to any amount we can imagine.
Other blockchains like Tezos or Binance are much cheaper and we can create our NFT for 1-2$. This is because they use a more efficient validation system called PoS (Proof of Stake). However, we will do this at the expense of the possibility to reach more collectors and massive integration with Dapps.
Creating a Wallet
Recommended wallets: Metamask, Temple Wallet
Depending on the blockchain we want to use, we will create a wallet using one application or another. A wallet is something like a bank account or safe inside the blockchain in which we can have digital assets such as NFTs and cryptocurrencies. Each wallet has its unique address, just like bank accounts.
For Ethereum, the most used wallet is the Metamask browser extension, although we can also configure it to be used with Binance or Polygon.
On the other hand, if we want to use the Tezos blockchain, we have wallets and browser extensions such as Kukai or Temple Wallet.
Depositing cryptocurrencies in the wallet
Once the wallet is created, the process to deposit cryptocurrencies is the same for all of them, no matter which blockchain it is: we create an account in an exchange like Binance, Kraken or Coinbase and we transfer those cryptocurrencies to the address of our wallet.
What we do have to take into account is that the cryptocurrency we are sending corresponds to the blockchain of the cryptocurrency. So, for example, if we send BTC to an Ethereum wallet, we will lose it forever because that wallet does not exist. To understand it, it would be like using a Spanish account number using the IBAN (ES, AD, etc) of a foreign account.
In this post we tell you everything you need to know about Depositing and Withdrawing Cryptocurrencies in your wallet: from cryptocurrency ATMs to exchanges.
Buying and selling Music NFTs
Once we have cryptocurrencies in our wallet, we can buy or create NFTs. This will depend on whether we are creators (sellers) or collectors (buyers).
If we are creators, we will have to choose the marketplace in which we want to mine our first NFT. It will depend on our path the access we have to different marketplaces, since many of them have a curation filter, that is, there is an entry barrier. The best marketplaces to start with are Opensea and Rarible, as the entry barrier is zero or very easy to pass. You have a pretty comprehensive list of cryptocurrency marketplaces out there here.
Also, if you want to mine a free NFT, although it is not the most recommended, you always have the option of Mintable.
On the other hand, if we want a marketplace with a large community and on the Tezos blockchain, Hicetnunc, without a doubt, is one of the most recommended.
If what we want is to buy some NFT, you have a wide variety of marketplaces to choose from. In Ethereum, you can see this Complete Guide to NFT Marketplaces. The biggest marketplace, without a doubt, is Opensea. You can also get NFTs on specific collection sites, where they will have programmed it so that you only need to use Metamask for it.
You also have the option of collecting on marketplaces of other blockchains such as Hicetnunc (Tezos) or Binance NFT (Binance).
Cybersecurity and scams
Something to keep in mind in the NFT world is not to let your guard down and try not to fall for scams. There are many scams around the world and there are many projects that are not reliable.
The first thing to keep in mind is your own cybersecurity when surfing the internet with your wallet, so we put out this Security Guide for your Wallet and organized a Cybersecurity Resources page with Limbo Mask and Div Security.