Sunday, February 25

Exchange FTX allows you to create and trade NFTs

Exchange FTX allows you to create and trade NFTs

The volume of NFTs (non-fungible tokens) traded as well as the number of their traders has fallen sharply in recent times since the first peak that was experienced after its close birth, but the same has not happened with the volume of fiat that these assets move, which is down just 5 percent, which may indicate a smaller market with a higher individual value.

And it is that companies such as Meta, YouTube, Google or Twitter (the latter a social network that will allow these tokens to be used as a profile picture showing ownership and even the collection to which it belongs) have confirmed their interest in this market that is taking its first steps. , steps that can also be taken by any user who registers in the FTX Exchange, a platform that is used for much more than the sale of cryptocurrencies.

NFTs on the FTX Exchange

The FTX Exchange makes available to its users an easy-to-use platform for the sale or creation of NFTs, taking into account that an account created on the platform simply to trade cryptocurrencies or send and receive fiat also allows the minting of NFTs with FTX, not It is necessary to open different accounts for each way of trading, investing, accumulating or creating that this Exchange offers. Once you have a verified account (verifying your account is something you’ll have to do sooner or later if you trade enough, so doing it at the beginning saves you a little hassle later and takes no more than a few minutes) you can start trading NFTs in various ways.

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The first is to buy them on the platform itself, among the owners of NFTs who have become such because they have bought them right there from the community of creators of FTX itself or because they have bought them from other Exchange users who are already owners, given that the NFTs that are already owned can be transferred to the FTX wallet as long as they have been created in the solana or ethereum blockchain, which are the ones that work on this platform and also the networks in which the FTX is minted. vast majority of non-fungible tokens. The purchase price of the different NFTs is in dollars, and can be paid by bank transfers, credit cards or, and since with the FTX Exchange account you can also send and receive fiat in addition to selling crypto assets, you can pay with the liquidity already in the account as a result of other operations or transactions.

The other type of operator of non-fungible tokens that can be found in the FTX Exchange are the creators, the origin of all the NFTs that are then traded through platforms such as the one in question and that of course can also combine the facets of buyer and collector. , given that the seller is practically implicit, and that is that the creators of NFTs can put their creations up for sale at a fixed price or for sale through the auction procedure starting from a minimum price set by the creator himself.

Although at first the minting of NFTs may seem too complex for those who have never thought about it before, the truth is that with the FTX Exchange it is extremely simple, so the fear of the technical parts of creating these digital works of art It should not be an obstacle to approach this world if you have any kind of concern about it, since the process is guided so that even beginners can unleash their creativity and, or collect their own works along with those they acquire, or put them up for sale using the procedures already mentioned.

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The NFT market, although undergoing a correction after its initial explosive growth, is a niche asset-based business derived from blockchain technology that is still in its infancy, so the FTX Exchange platform is one of the easiest and most accessible ways to enter or delve into the world of non-fungible tokens if you trust that the life of NFTs as financial assets will be long and fruitful.

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