This article explains how to buy, sell and transfer NFTs on the popular NFT Marketplace by Crypto.com.
Launched in 2021, the Crypto.com NFT platform is committed to delivering unique content from top celebrities, artists, athletes and sports. They are already working with some big names such as Aston Martin, Boy George, Snoop Dogg, Lionel Richie, Boss Logic and more, to develop enthralling content for this new medium.
NFTs (Non-Fungible Tokens) are unique collectable crypto assets stored on the blockchain to verify ownership. The tokens can be used to represent any type of real world or virtual item including artwork, video games items and land/real estate, music, digital trading cards, real-world tokenized assets, video footage and many more.
Crypto.com NFT allows users to browse NFTs in fiat currency, make purchases by using their credit/debit card,Crypto.com Pay via the Crypto.com App, or a wallet that supports ERC20 tokens (ex. Metamask, WalletConnect).
How to buy an NFT
- Go to Crypto.com NFT Marketplace.
- Click “Sign Up” to create a free account.
- Choose a username and password and complete the sign up by verifying your email address.
- Browse the NFT marketplace items and choose an item which you want to buy and click “Select” then “Buy for $x”. If the item is on a bidding auction, you can place a bid (similar to eBay).
- Choose your payment option (Credit/Debit Card or Crypto.com Pay) and confirm your payment.
- Once the on-chain transaction has completed, the item will appear in your account in “Collectables” tab. Click “My NFTs” to see it.
How to sell an NFT
- Login to your Crypto.com NFT Marketplace account.
- Click “My NFTs” and go to the “Collectables” tab.
- Select the item you wish to sell and click “Sell”.
- Select one of the 2 pricing models:
Fixed price model
- The seller sets a fixed price for the item.
- The buyer purchases the item at its fixed price.
- The seller puts an item up for auction by inputting the end date and minimum bidding amount.
- The buyer places a bid, which has to be higher than the previous highest bid by 5% or $10, whichever is higher. Bids can only be made in cryptocurrency through Crypto.com Pay (credit/debit cards not supported currently) and full payment is required upfront. If a bidder gets outbid, the amount will be refunded immediately in the currency the purchase was made through Crypto.com Pay. The highest bidder cannot cancel his/her bid.
- Sellers can choose to end the auction earlier by a) cancelling the auction, and the current top bidder gets a refund or b) terminating the auction early, and the current top bidder wins the bid**. When the auction ends, the current top bidder wins the bid. If it ends without any bids, the item goes back to “Not for sale” status.
How to transfer an NFT
The transfer feature is coming soon.
Available Payment Methods
The Crypto.com Marketplace currently supports the following payment methods:
- Pay with Credit/Debit Card
- Pay with Crypto (BTC, ETH, DOGE using Crypto.com pay)
- Pay using Crypto.com App
- Pay using Metamask Brave Browser Wallet
For further help check out the Crypto.com NFT support page or watch the video below.
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