NFTs are Non-Fungible Tokens, word non-fungible means irreplaceable and unique. I'm relating unique with nonfungible, everything irreplaceable is unique. For instance, if you draw a sketch, it becomes a masterpiece and nobody can replace it, which comes with uniqueness additionally being non-fungible. And the word Token means proof of authority which means the sketch you draw belongs to you and you are the authorized owner of this sketch.
If someone wants to buy the NFT, first they have to exchange some currency with you and in return, they will receive a token of that NFT.
Now the question arises of where you can buy or sell NFTs. Well, there are many marketplaces where you can sell and buy NFTs like OpenSea, LooksRare, Binance, Super rare, Rarible, Magic Eden, and more…
What is Magic Eden
Magic Eden is one of the most popular and largest NFT marketplaces, it runs on Solana Blockchain. It enables users to sell, buy, mint, and manage NFTs. It has a user-friendly and attractive interface. Additionally, you can connect Solana and Ethereum wallets to perform secure transactions.
How to Get Started NFT Marketplace Magic Eden
To buy or sell NFTs on Magic Eden NFT Marketplace you must join this platform. Here we are going to discuss the NFT marketplace Magic Eden setup process, as it is a big marketplace on the Solana Blockchain where you can create, buy, and sell your NFTs. Step-by-step guidelines are given below:
Step 1: Set up the Wallet
Connect your digital wallet with the NFTs marketplace account. Register yourself on one of these given wallets like Coinbase Wallet, MetaMask, Enjin, Math Wallet, and others. A Digital wallet is essential for sending or receiving money while buying and selling NFTs. Here step by step guide to setting up the crypto wallet:
Go to the install MetaMask Extension, and click on the button Add to Chrome to install the extension:
Click on the Add Extension button:
After installation, click on the browser's extension icon on the right side of the screen and open MetaMask. Or it will redirect you by default:
Click on Get Started:
First read and then click I agree:
Here you can create or import a wallet, to create a new wallet click on Create Wallet:
Create a password, here one thing you should keep in mind is you have to remember everything because MetaMask doesn’t provide a forgotten password, and then hit the button Create:
Watch the video to learn good practices to secure the MetaMask and the hit button Next:
Reveal the word phrase and copy it to the clipboard or write down the given phrases in the given sequence and hit the Next button:
Check each phrase in the same sequence, that was given on the previous page and hit the Confirm:
Read and hit All done:
Here the wallet has been created:
Step 2: Open Magic Eden
To go to Magic Eden Marketplace, click here:
Step 3: Connect the Wallet to Buy the NFT
Link your MetaMask wallet to this website. To link the wallet, click on the button Connect wallet given on the top right side of the screen, and then select the MetaMask wallet to sync:
Here you can select Solana or Ethereum Wallet, it is totally up to you, here I select Ethereum based wallet MetaMask:
Click the button Next to connect with MetaMask:
Hit the Connect button:
Here, it has been successfully connected:
To sign in to the MetaMask Wallet hit the button Sign In:
Hit the button Sign Message:
Hit the Sign button on the prompt:
Everything has been done successfully now you can sell and buy NFTs on Magic Eden:
To explore the market for buying and selling go to the Marketplace and select the Popular collections:
Select any one collection to buy:
Here you can read the following details (total volume, owners, total supply average sale, and more details) before buying:
Select anyone NFT, add funds and hit the button Buy:
Conclusion
To buy the NFTs, you must have a digital wallet and enough funds in it so that you can buy it from any marketplace platform. There are multiple NFTs platforms in the marketplace through which you can sell and buy NFTs. On the Magic Eden platform, you can create and mint NFTs.
