Crypto.com launched a new NFT platform on the 26th of March 2021
Crypto.com has launched the new open-source public blockchain that is focused on payments, DeFi and NFTs. At Crypto.com, the NFT platform is looking to become the world’s largest and most user-friendly NFT platform.
Of course, the news pushed the CRO coin higher, the community expects the new platform.
Today, I will explain what the NFTs are, and why I am also looking forward to the new NFT platform from Crypto.com.
NFTs are the new mania, the new phenomenon, the new unbelievable digital assets that sell from a couple of hundred dollars up to tens of millions.
NFT stands for a Non-Fungible Token, which means that this is a digital token. That’s a type of cryptocurrency like all the rest we know, but unlike a standard coin, the NFT crypto coins are unique. Meaning that every NFT is just one and it is a unique token in the digital world and this might pump their prices to mind-blowing figures.
An example is Twitter CEO, Jack Dorsey, who sells the first tweet for 2.5 million.
And the NFTs are something new for the cryptocurrency world. It is new for me, it is new for the crypto exchanges too. And I’m very excited that Crypto.com launches the NFT platform. I believe everyone in the community will feel safe purchasing NFT crypto coins from the Crypto.com platform, and not from any website that is not established as Crypto.com is.
Purchasing NFT crypto coins
And at the same time, we will feel much comfortable purchasing NFT crypto coins with the funds we already have in our accounts on Crypto.com instead of trying to fund accounts on external websites where currently the NFTs are available.
On some of the websites, it’s kind of hard to fund an account especially from some countries outside the U.S. And exactly for that reason, I didn’t purchase any NFT coins so far but having them on Crypto.com, I guess it will be much easier. And if I decide to purchase any, of course, I will record a lecture while doing it.
But again, keep in mind that this is something new, we can say it’s still experimental. We don’t know where it will go, we don’t know if we purchase NFT crypto coins for $1,000, will we able to sell them after that for a more expensive price or we will be just keeping it for ourselves?
For the moment, most of the investors accept the NFTs not just as an investment but also as a support to a favorite artist.
So let’s see below what exactly Crypto.com published on their blog. Crypto.com launching the NFT platform, with exclusive content from the different artists, as I said.
This could be a piece from Aston Martin up to Snoop Dogg, for example. And Crypto.com has promised that this will be the most user-friendly and the world’s largest NFT crypto coins platform. Below, you can read more information about the event. But I will definitely make a review of it once it is live.
NFT crypto coins are different from other cryptocurrencies
I don’t want to go into details about the NFTs, how exactly they are being created and how they work.
But with very simple words, this could be just a JPEG or a very short video from an artist that is one of a kind. It’s a token but it’s unique. This is what makes the NFTs very different from the other crypto coins we know. Because most of the tokens that we know have a certain number of coins into circulation.
But with NFT crypto coins, it is just one. It’s a unique token and this is why some investors might find a huge value in the piece because it’s unique and they hope that they can sell that piece after years at a much more expensive price. Or they just want to have it for themselves, so no one else will have it. But the important thing is that the ownership of the NFT crypto coins is recorded on the blockchain.
So why did the news about launching the NFT platform pushed the CRO coin higher?
For beginners, the CRO is the Crypto.com token, which I also invested in and recorded already many lectures about it.
But the sweet thing about it is the fact that when Crypto.com launches a new platform, services, anything that will be useful to the community, it pushes the price higher.
A month ago, I recorded a video about the mainnet launch and the CRO coin is burned. If you haven’t watched it, you can follow this external link (opens in a new tab).
I’m very glad that Crypto.com is offering new features, new platforms, new wallets. All the time they have something new to launch. And obviously, the community recognizes this as progress. And many investors and retail traders find value in the CRO coin because it represents the service that Crypto.com offers.
I have invested in the CRO coin too. And if you want to see all the assets that I invested in, I have shared my crypto portfolio spreadsheet. Check out my Patreon page to get access to the spreadsheet.
And if you want to get a bonus when you are staking CRO coins, you can follow this referral link.
Crypto.com NFT platform review
From what I saw on the first day Crypto.com launched the NFT platform, I think they have a huge chance of achieving that. One sentence for those of you who do not know what NFTs are, and I will review the platform from my computer.
The NFTs are Non-Fungible Tokens representing a digital piece of art, a JPEG, a short GIF, or a video. And the most important is that the NFTs are unique and their ownership is recorded on the blockchain.
Now, let me show you the Crypto.com NFT platform right on my computer.
So when you land on Crypto.com, on the top you can see the new tab, NFT. And if you open it, the first thing you will see (on Saturday, March 27th) is the cool Formula 1 Aston Martin car.
Now, the first thing you will notice, it’s really simple. On the top, we have the Explore, Drops, My NFTs, and My Profile.
So I will start from the Drops. Basically, these are the NFTs that Crypto.com will be offering. At the current moment, we have “A New Era Begins” with the Aston Martin. And below, we have the ones that ended, so yesterday or the first day was with the artist Boss Logic. And it’s ended, so we cannot buy straight from Crypto.com these NFTs anymore.
How you can purchase NFT crypto coins
We can only buy them from the people who have bought them and are now reselling them. But at the current moment, we have live the Aston Martin NFTs. And if I tap on it, you will see some info about the creator, about the Drop, and below are the pieces. So we have the unveiling which starts from $10,000, then we have the first run from Vettel and we have the number of editions.
So let me click on one and you will see what it looks like, let’s hear it. I’m not going to leave it until the end but the price is $3,000. Some people might find it costly, others that are huge fans of formula and Vettel might find it super cheap and they just might want to have it in their wallets. However, that’s a personal choice. What I want to show you more, is how you can purchase one.
So let me click on the 131 available, so these are the pieces that are available until the moment.
And I will tap on buy for $3,000, you see that I have the option to pay with credit or a debit card. Which makes it very easy for the people that are not Crypto.com users or the people that don’t have any cryptocurrencies. They can just purchase NFT crypto coins with a debit or a credit card. And this is what makes the Crypto.com NFT platform super simple according to me.
The new Drops from Crypto.com
Let me go back and what’s interesting here is if you don’t want to miss the new Drops from Crypto.com, you can just subscribe. I will do that right away.
And then on the top, we have as well the Explore. This is where we will be seeing the NFTs that users bought and are now selling them. So, for example, these arts from Boss Logic, yesterday were selling for $2,000. And you see that the users are selling them at a more expensive price, which is obviously very logical. At the same time, someone has bought the Vettel’s first run which we saw starts from $3,000 and the guy is selling it for $3,688.
Actually, if I tap on 34 for sale, we will see how many of those pieces are available. If I click on Select available editions, right away we can see that there is a user who wants to sell his piece for $1 million. I wish him luck selling it for this price. However, it’s a personal choice what will be your strategy once you purchase NFT crypto coins. You can just keep it in your Collectibles.
So if I tap on My NFTs, you will see that I have the page with Collectibles. And then I will have the ones that I am selling or the ones that I have created and pretty much that’s it.
You can manage your profile easily, you can follow the Drops coming from Crypto.com, and you can explore the NFTs that you have missed to buy and you want to buy from other users who have bought it from the Crypto.com NFT platform.
I really found it awesome, it’s user-friendly, everyone can easily become an owner using a Visa card. Usually, NFTs are complicated but when you see a platform like this one, it’s just simple. And I’m a step away from purchasing one of these cool Aston Martin NFTs. But really? $3,000 for a short video? It’s not just a short video, but these are tokens. And later we can sell them. But I will think about it again.
Is it worth spending $3,000 for NFT? Do you plan to do it? Let me know what you think in the comments below. I’ll be glad to hear your thoughts. And if you enjoyed this article and our vlogs, subscribe to Trading Academy YouTube channel so you won’t miss anything new about the crazy crypto world. I will see you guys in another lecture.
NFT stands for a Non-Fungible Token, which means that this is a digital token. The NFT tokens represent a digital piece of art, a JPEG, a short GIF, or a video. The NFTs are unique tokens and their ownership is recorded on the blockchain.
DeFi, or decentralized finance, is a form of finance, based on blockchain, that does not rely on central financial intermediaries such as brokerages, or banks to offer financial instruments. DeFi recreates traditional financial instruments in decentralized blockchain architecture.