With the launch of lucrative new NFTs — for instance, MetaBlox’s cloud-mining collection — the Web3 community has renewed its interest in NFT investing, although many people outside of this space are still wondering how to purchase them. If you’re part of this group, keep reading to learn how to buy NFTs.
Why Buy An NFT?
NFTs and NFT investing constitutes a core element of Web3, and are evolving into much more than glorified pfp files.
For example, the MetaBlox NFT earns holders ongoing token yields through cloud mining while supporting the deployment of MetaBlox’s decentralized WiFi OpenRoaming network. This global WiFi network is designed to integrate with Web3 through tokenomics and interoperability with dApps.
The special credentials used to access the internet (and the dApps built) on MetaBlox’s network are exported to and verified on the blockchain in a mining process. Anyone can generate a credential for MetaBlox’s OpenRoaming network on the free MetaBlox app, which is available for IoS and Android.
How The MetaBlox NFT Supports Web3 WiFi OpenRoaming
Since MetaBlox’s WiFi OpenRoaming network uses credentials that are verified in a mining process, MetaBlox’s OpenRoaming routers issue $MBLX tokens as they establish WiFi connections, which is where the NFT collection comes in.
Each MetaBlox NFT represents the rights to the token yields from a MetaBlox OpenRoaming router in a premium location with high WiFi traffic. This maximizes yields for NFT holders, since MetaBlox routers issue more tokens the more connections they establish.
The popular MetaBlox NFT collection, known as the Genesis Series, is currently available on BinanceNFT.
How To Purchase, Connect to Your Crytpto Wallet
Below are the steps for purchasing a MetaBlox NFT and connecting it to your electronic wallet for deposits of cloud mining yields, although the purchasing steps can be used to purchase any NFT on the market.
How To Buy in Five Easy Steps
There are five main steps involved in buying an NFT. After buying your first NFT, the first two steps are eliminated. The 5 initial steps are:
- Opening an account with a crypto exchange
- Creating an electronic wallet
- Purchasing crypto with which to buy your NFT
- Connecting your electronic wallet to an NFT marketplace
- Buying your NFT
Step 1: Open a Crypto Exchange Account
The first thing you need to do when purchasing your first NFT is open an account with a crypto exchange. Crypto exchanges function as brokerages where anyone with a virtual wallet can buy and sell various cryptocurrencies.
Investors can also use these exchanges to convert their assets into other cryptocurrencies. Some reputable crypto exchanges include:
- Coinbase
- Binance
- Crypto.com
- Kraken
- Gemini
Crypto exchanges are necessary for buying NFTs since they can only be purchased with cryptocurrency, and since these exchanges are the easiest way to buy cryptocurrency. When creating an account, the exchanges issue users two digital identifiers they should record and keep safe: a public and private key.
Crypto holders rely on their private keys to withdraw, spend, and convert crypto assets. Essentially, private keys are needed to authenticate crypto transactions.
Public keys are used to facilitate transactions between two asset-holders, functioning like bank account numbers and thus letting asset holders send money to each other. By identifying their accounts, these keys let asset holders receive crypto.
Step 2: Create a Virtual Wallet
After setting up an account on a crypto exchange platform, you need to set up an electronic wallet that lets you access your digital assets. Electronic wallets simply safeguard these keys for NFTs by requiring a multi-step login to access them.
Crypto wallets are thus like a storage vault for your most valuable passwords. Usually another password that holders set themselves is used to secure their virtual wallets. These passwords are called seed (or sometimes recovery) phrases.
If you are purchasing your MetaBlox NFT from Binance, create a MetaMask wallet to connect with the marketplace.
Step 3: Connect Your Virtual Wallet to A Crypto Exchange
To purchase crypto used to buy your NFT, you need to make sure your wallet is connected to the exchange where you’re buying that crypto. After logging into to one of the exchanges listed above, use the instructions provided by the given platform to connect your wallet.
Step 3: Buy Crypto
After setting up a wallet and connecting it to an exchange, purchase enough crypto to cover the cost of your MetaBlox NFT. If you are buying your NFT from Binance, purchase USDC. You can add your credit card info to the exchanges in order to purchase crypto using fiat currency.
Step 4: Connect Your Wallet to an NFT Marketplace
Once you’ve added crypto to your wallet, connect it to an NFT marketplace.
To connect your MetaMask wallet to Binance, follow these detailed instructions from MetaMask.
Step 5: Buy Your NFT
To purchase your NFT from Binance, follow these instructions:
b. Click on the MetaBlox Genesis NFT collection
c. Click on the NFT you want (select up to 50)
d. Click ‘confirm’
e. Select the BSC address you want to withdraw your NFT to
f. Click ‘withdraw’ and then ‘confirm’
Are NFTs Worth It?
Some NFTs are risky investments, and won’t provide a source of income. On the other hand, MetaBlox’s NFT creates ongoing value for its holders by collecting the profits from miners maintained by MetaBlox. The tokens issued at MetaBlox WiFi passpoints go directly to NFT holders, making this NFT special.
Make sure to visit Binance to claim your MetaBlox NFT.
To get updates on the MetaBlox NFT and how its helping build Web3, visit MetaBlox’s website and social media channels!
