NFTs can be classified in a variety of ways, including collectible and playable NFT trading cards. What are NFT trading cards and how they work? These NFTs are similar to regular NFT trading card collections, with values that are determined by market conditions, consumer demand, and rarity.
What is a trading card NFT?
A non-fungible token better known as an NFT is a one-of-a-kind digital asset that can take the form of a graphic, audio file, video clip, GIF and more. In video game metaverses, you can even purchase an NFT character to play.
An NFT trading card is formed by transforming a digital file into a cryptocurrency token that resides on a blockchain, which is a public ledger that records transactions. NFTs are purchased by collectors to show in their personal collections or to sell on the secondary market in the hopes of making a profit.
The NFT isn’t the only thing that’s recorded on a blockchain: every transaction involving that NFT is as well, allowing the NFT’s author to collect royalties on subsequent sales.
On online marketplaces, the majority of NFT trading cards are bought and sold using cryptocurrency.
How does a trading card NFT work?
The utility of trading card NFTs varies. Many collectors purchase them to flaunt for clout or bragging rights, similar to how hobbyists purchase physical cards at conventions. Others amass NFT cards as investments, selling those that increase in value.
NFT-based trading card games, sometimes known as TCGs, are popular among role-players and battlers. Players can design decks of NFT trade cards to face other players in games like Gods Unchained, a multiplayer blockchain game.
With Axie Infinity, players rely on NFT cards to give their Axies special abilities that are helpful in battles.
Deck builds or cards are valued based on their use, rarity, and popularity, similar to IRL trading card games like Magic: The Gathering or Pokémon TCG.
However, NFT trading cards aren’t limited to gaming. Online markets such as NBA Top Shot, which specialized in selling NBA player NFTs, are good sites to look for NFTs for sport trading cards.
Trading card NFT marketplaces
Deciding on a marketplace for trading card NFTs depends on the genre you’re interested in, among them:
- NBA Top Shot — NBA-licensed marketplace featuring NFTs of NBA video clips, players and team packs.
- OpenSea — Mixed marketplace that includes gaming trading cards, sports, blockchain gaming NFTs and more.
- Sorare Marketplace — Fantasy soccer marketplace featuring player trading cards.
How to make money with trading card NFTs
Making money with NFT trading cards is similar to making money with trading cards in real life.
You concentrate your efforts on acquiring rare or high-profile NFTs with the intention of reselling them at a profit when they appreciate. Keep an eye out for scheduled drops to get limited cards to sell on the secondary market.
There’s nothing prohibiting you from starting your own trading card line and hope to make money from it. However, smaller artists find it difficult to compete in the market because many trading card NFTs are licensed through organizations like the NFL or minted by video game corporations for usage within connected metaverses.
What makes NFT trading cards valuable
Consumer interest and rarity are the two most important elements that influence the value of NFT trading cards. Rare precious metals, like scarce NFTs, are valuable because they are rare.
The following factors influence trade card values:
Rarity. If obtaining a particular NFT or collection is difficult, it will be valued more on the market.
Utility. Cards are used in video games to symbolize stronger or weaker game characters.
The value of NFT trading cards can fluctuate by the second, just like traditional trading cards. New NFTs and collections are launched on a regular basis, and trends, particularly in gaming, shift. Keep a watch on price decreases, breaking news, and play styles to assist you decide what to purchase and sell.
How to buy NFT trading cards
You can buy, sell and trade NFT trading cards by signing up for a marketplace or game that offers them. While steps differ among these platforms, you can expect to follow four general steps:
- Set up a digital wallet. Compare top crypto wallets like MetaMask, WalletConnect or Ledger.
- Add crypto to your wallet. Buy crypto from an exchange with fiat currency and transfer it to your digital wallet. Or transfer tokens you already own to your wallet.
- Choose a marketplace or game. Look for NFT collections on marketplaces and games like OpenSea, NBA Top Shot, Candy Digital, Axie Infinity and Upland, among many other marketplaces.
- Choose a trading card NFT. Most marketplaces allow you to filter by collection and creator to narrow down your options, with NFTs sold at fixed prices or at auction.
You’ll need to transfer trading cards designed for use in a game to your account or wallet attached to that game. For example, the play-to-earn game Bomb Crypto requires a MetaMask wallet.
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