The explosion in popularity of NFTs over the past year has paved the way for numerous marketplaces to spring up that offer NFT trading services. One of the most exciting additions to the trading scene is the Crypto.com NFT Marketplace, which aims to make the investment process as streamlined and cost-effective as possible.
In this guide, we’ll review the Crypto.com NFT Marketplace in detail, examining its fees and features before showing you how to buy an NFT on Crypto.com today.
How Does Crypto.com Score?
What is the Crypto.com NFT Marketplace?
The Crypto.com NFT app and marketplace is a division of Crypto.com – one of the best crypto exchanges on the market. Most traders will have heard of Crypto.com, as the exchange has a stellar reputation regarding fees and user-friendliness. Given the remarkable popularity of NFTs, Crypto.com decided to launch its own marketplace in March 2021, constructed on the Crypto.org chain.
The Crypto.com NFT Marketplace requires Crypto.com users to create an additional account to use it – although this only takes a matter of minutes. Once created, users can instantly verify their NFT account by linking it to their Crypto.com trading account via the app. Overall, this process is rapid and enables users to benefit from the features contained in Crypto.com’s ecosystem.
The marketplace itself contains an array of the best NFTs to buy, from categories such as art, gaming, sports, music, and more. Each NFT will be listed for a fixed price or through a traditional auction, offering flexibility for buyers and sellers. Interestingly, Crypto.com NFTs can be purchased instantly using a credit or debit card. This is in contrast to many other NFT marketplaces that require crypto to facilitate payments.
Ultimately, this streamlined approach to NFT trading has made the Crypto.com NFT Marketplace incredibly popular. Users can make investments through the browser-based platform or the Crypto.com NFT app, ensuring there’s an option for everyone. Finally, a recent press release from Crypto.com announced that the platform will now offer Ethereum-based NFTs – greatly expanding the potential universe of assets.
Range of NFTs Available on Crypto.com
Now that the Crypto.com NFT app and marketplace offers Crypto.org chain and Ethereum NFTs, this has provided scope for limitless potential when it comes to asset selection. With that in mind, let’s take a look at some of the main types of NFTs that are available through Crypto.com:
The Crypto.com NFT app and the browser-based platform offer a vast range of digital art to invest in. Art pieces can range from as little as $1 up to $10,000 plus. Due to the sheer number of art NFTs on the marketplace, Crypto.com allows users to filter them by blockchain, price, listing date, likes, and views.
Crypto.com also offers NFT music, usually featuring a very limited number of editions. These music NFTs tend to be supplied by artists looking to raise capital whilst providing fans with unique collectibles, such as unreleased songs or album art.
Gaming NFTs are a broad asset category that includes trading cards, characters, and game-based art. Crypto.com even offers its own NFT collection in this category called ‘CryptoCards’, which come with unique benefits – making them a must-have entry on your NFT calendar.
As the name suggests, sport NFTs are all related to specific sports, whether than be Formula 1, NFL, or soccer. Top brands such as Aston Martin have offered NFTs within this category, usually taking the form of iconic photos or videos.
Finally, Crypto.com also offers NFTs from high-profile names. In the past, celebrities such as Snoop Dogg and Boy George have dropped NFTs on Crypto.com’s platform, with other household names such as Gareth Bale and The Game currently offering their own collections.
Your capital is at risk.
Crypto.com NFT Fees
When researching how to invest in NFTs with Crypto.com, the platform’s fees should be one of your top considerations. Like all NFT marketplaces, costs will differ depending on whether you are a buyer, a creator, or a trader (reseller). Let’s take a look at each of these areas individually:
The most important thing to note for buyers is that Crypto.com doesn’t charge any fees to the buyer when an NFT purchase is made. This is one of the platform’s main selling points and contrasts with numerous other NFT marketplaces that charge a commission when making a purchase.
If you are interested in minting NFTs and selling them on the Crypto.com NFT app and marketplace, this will cost 1.99% per NFT. This is termed the ‘Primary Seller Fee’ and only applies to the initial sale of the NFT. Notably, this used to be 15%, although Crypto.com has reduced the fee to 1.99% to attract more creators to the platform.
Trader (Reseller) Fees
Finally, if you own an NFT and wish to sell it in the secondary market, then reseller fees equate to only 1.99% per transaction. Again, this used to be priced at 5% per transaction, although Crypto.com decided to lower these fees in December 2021. Ultimately, this is ideal for investors who buy and sell NFTs regularly, as it will save them significant amounts in the long term.
Crypto.com NFT Marketplace Features
Due to the extensive nature of the Crypto.com ecosystem, the NFT marketplace is filled with valuable features for traders to benefit from. Let’s dive in and take a look at some of the best attributes of the marketplace:
Free DeFi Wallet App
Crypto.com also offers one of the best crypto wallets on the market – the Crypto.com DeFi Wallet. This is a free and non-custodial wallet that users can download from the App Store or Google Play. The wallet supports over 100 crypto assets and is protected by biometric and two-factor authentication (2FA).
The great thing is that the Crypto.com DeFi wallet also supports NFTs, with a dedicated ‘Collectibles’ section being designed like a gallery to showcase your digital assets. This section even presents a variety of stats on your NFTs, including rarity and traits, along with the ability to share your NFT to social media.
The Crypto.com Marketplace has a dedicated ‘Drops’ section that showcases all of the noteworthy NFT collections set to release shortly. The section presents the mint date, creator, and price of each NFT within the collection. Another handy feature is that Crypto.com allows users to sign up for a mailing list and be notified when the NFTs go live.
Can Use FIAT to Purchase NFTs
As touched on previously, Crypto.com is one of the few NFT marketplaces that allows users to purchase NFTs using FIAT currency. This is evidenced by the fact that Crypto.com’s NFTs are denominated in USD, with many showcasing an ‘Auction’ price and a ‘Buy Now’ price. The ability to buy NFTs using a credit or debit card is one of Crypto.com’s key features, as it ensures that newcomers to the NFT market are still able to invest just as freely as experienced NFT traders.
Finally, the Crypto.com NFT Marketplace also facilitates regular giveaways. The most memorable giveaway in recent times was the Crypto.com Arena NFT collection (also referred to as the Crypto.com Opening Night NFT). This collection was released to commemorate the renaming of the Staples Center to the Crypto.com Arena in December 2021. A total of 50,000 Crypto.com Arena NFTs were released and airdropped to users, who could then sell them in the secondary market.
Crypto.com NFT Marketplace Compatible Wallets
Since the Crypto.com Marketplace now supports Crypto.org chain and Ethereum-based NFTs, users who wish to transfer their digital assets to an external wallet must set up one that is compatible with these blockchains. When an NFT is purchased on the Crypto.com NFT Marketplace, the asset does not instantly get transferred to a crypto wallet – which is the case with decentralized exchanges.
Instead, the NFT is stored in the user’s marketplace account on the NFT platform. Ultimately, this isn’t the safest method of storing NFTs due to the potential for cyberattacks, so most people opt to transfer their NFT to a crypto wallet.
Numerous wallets are compatible with the Crypto.com NFT app and marketplace, most notably Crypto.com’s native DeFi wallet. Other wallets that are supported include MetaMask and Ledger wallets. Once you have a supported crypto wallet, you can easily transfer your NFT from the Crypto.com NFT Marketplace to your wallet using the wallet address.
Crypto.com NFT App
Crypto.com offers one of the best NFT apps on the market, featuring the same functionality that the browser-based platform has. This includes the option to scan the marketplace, buy and sell NFTs, mint NFTs, transfer balances to your Crypto.com Trading Account, and more.
The Crypto.com NFT Marketplace does not have its own dedicated mobile app, as it is incorporated into the regular Crypto.com app. Users can access the marketplace through the app’s homepage and utilize the funds contained in the app’s crypto wallet to facilitate purchases.
If you’re wondering how to buy an NFT on the Crypto.com NFT app, it’s important to note that this feature is currently only available to Australia-based investors. However, Crypto.com is in the process of rolling out this feature to investors around the world – so it’s best to keep an eye on the ‘Product News’ section of the website for any updates.
Your capital is at risk.
Crypto.com NFT Marketplace User Experience
Whether you’re looking to purchase items for the best NFT games or invest in unique digital art, it’s crucial that the user experience is up to scratch. Fortunately, the Crypto.com NFT Marketplace is one of the most user-friendly platforms in this exciting area of the cryptocurrency market. The marketplace can be accessed through your web browser and features a clear layout with sections for upcoming drops and notable brands.
Users can easily filter the vast selection of NFTs by category, price, likes, views, blockchain, listing type, or end date. There is also a button where you can toggle on ‘Curated’ NFTs, meaning that Crypto.com will only show NFTs from popular creators or that were featured in noteworthy drops.
The purchasing process is also straightforward, as the listing page will show the current bid and the ‘Buy Now’ price if there is one. Users can click on the creator’s name and read their bio, along with obtaining links to their social media pages. Finally, each NFT listing page has detailed information on the blockchain it was minted on – and even a link to the blockchain explorer for in-depth data.
Crypto.com NFT Marketplace Customer Service
In terms of customer service, Crypto.com has an extensive FAQs section, presenting answers to most of the popular questions. During our research, we noted that this section covers almost everything you would need to know about investing in NFTs with Crypto.com, making the process much easier for beginners.
In addition, Crypto.com also has a dedicated email address for any enquiry that isn’t answered by the FAQs section. Finally, each page even has a ‘Live Chat’ box where you can ask questions and receive answers from a member of the Crypto.com team.
How to Buy NFTs on Crypto.com
Now that you have a clear understanding of the pros and cons of the Crypto.com NFT app and marketplace, let’s turn our attention to the investment process. Investing in NFTs follows a different approach from when you buy Bitcoin, so it’s vital to understand all the steps before entering the market.
With that in mind, the steps below will show you how to buy an NFT on Crypto.com today – all from the comfort of your own home.
Step 1 – Open a Crypto.com NFT Marketplace Account
Head over to the Crypto.com NFT Marketplace homepage and click ‘Sign Up‘. Enter your name and email address on the page that appears before choosing a username and password for your account.
Your capital is at risk.
Step 2 – Verify your Account
Once you have signed up, you’ll have to verify your account before making an NFT purchase. You can accomplish this in one of two ways:
- If you already have a Crypto.com account – Head over to the ‘Settings’ menu of your account and opt to ‘Connect to App’. You’ll then be sent an email containing a link which you have to click to verify your NFT account.
- If you don’t have a Crypto.com account – Go to the ‘Settings’ page of your account and provide your mobile number. Crypto.com will then send you an SMS with a unique code, which you can enter on the settings menu to verify your account.
Step 3 – Browse the NFT Selection
Now you can head to the ‘Marketplace’ section and browse the list of NFTs that Crypto.com has to offer. Once you see an NFT that you are interested in, click on it to be taken to the listing page.
Step 4 – Buy NFT
NFTs will either be listed for a fixed price, an auction, or both. If it is an auction, you can place a bid and participate in the auction process. On the other hand, if it is a fixed price, you can purchase the NFT instantly. In terms of payment methods, Crypto.com allows you to use a credit/debit card to facilitate payment, or you can pay with crypto using the Crypto.com Pay gateway.
Either way, once you have completed the NFT purchase, it will be placed in your account’s ‘Collectibles’ section. You can then view the NFT or transfer it to an external crypto wallet.
Your capital is at risk.
What is Crypto.com NFT Marketplace Best For?
Finally, before wrapping up, let’s briefly overview what the Crypto.com NFT Marketplace is best for. Through our research and testing, we’ve noted that this marketplace will ultimately appeal to anyone interested in NFTs. This includes:
- First-time NFT buyers
- Experienced NFT investors
- People interested in NFT drops from celebrities
- NFT traders looking to benefit from secondary market sales
- Users interested in NFT giveaways
- People looking for a great NFT app
Thanks to Crypto.com’s ‘all-in-one’ approach, all users can seamlessly link between the NFT marketplace and the trading platform. Overall, this facet of Crypto.com’s ecosystem ensures that users do not need to go anywhere else when trading NFTs.
Crypto.com NFT Marketplace – Conclusion
To summarise, this guide has provided an in-depth review of the Crypto.com NFT Marketplace, exploring its numerous features and highlighting its benefits to traders.
We would also like to recommend Lucky Block as one of the best NFT cryptocurrency projects to invest in 2022. This is an NFT-based competition platform that allows participants to purchase NFTs to take part in weekly draws. Interested investors can purchase the NFTs that have been minted on the Lucky Block platform itself. LBLOCK is the native cryptocurrency of the platform and has recently been listed on PancakeSwap – a popular decentralized exchange.
Cryptoassets are a highly volatile unregulated investment product.
Can you buy NFTs on Crypto.com?
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What fees does Crypto.com charge for NFTs?
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