A Review of Crypto.com NFT Platform [2021]

This article will discuss the newly launched NFT platform – “Crypto.com NFT” in detail. First, I will talk about crypto.com and its products. Then, I will discuss crypto.com NFT’s collaboration with artists, foundational concepts like a drop. After that, I will go through Sign up and sign-in steps for crypto.com NFT. I will also discuss upcoming drops, live drops, and ended drops. In the end, I will talk about buying NFTs via placing a bid or at a fixed price.

Crypto.com

Crypto.com is a cryptocurrency platform having a mission to accelerate the world’s transition to cryptocurrency. Crypto.com owns many products as mentioned below –

  1. Apps — Buy and sell, Metal visa cards, crypto.com pay, crypto.com earn, crypto.com credit, NFT
  2. Exchanges — Exchange home, Margin trading, Derivatives trading
  3. Defi — Wallet, Earn, Swap

Here, we will discuss the Crypto.com NFT product in depth.

Crypto.com NFT Platform: Overview

In March 2021, Crypto.com announced the launch of Crypto.com NFT. The first drop took place on 26 March 2021, featuring a new collection by famed Marvel artist, BossLogic.

NFT represents a digital entity, a JPEG, a short GIF, a piece of music, a video, etc. Most importantly, they’re unique, and their ownership is recorded on a blockchain.

Usually, NFTs are released as ‘drops.’ Artists launch the collection of their unseen digital artwork in drops. 

NFT drop - a collection of digital artwork of an artist
NFT drop – a collection of digital artwork of an artist

During dropping, eager buyers rush on the NFT platform (like crypto.com NFT) to buy art pieces as artists launch them in limited numbers. After purchasing NFTs, it is up to the buyer whether they want to resell purchased NFTs at a higher price or keep them in the collection.

Many famous digital artists have collaborated with crypto.com NFT to share their exclusive drop of arts. Launch partners include Snoop Dogg, BossLogic, Boy George, Klarens Malluta with Lionel Richie, Axel Mansoor (the King Of The Clubhouse), Bag Raiders, Jonathan Monaghan with Nathan Evans (of #1 single Sea Shanty ‘Wellerman’ fame), KCamp, KLOUD, and Mr. Brainwash, among others.

Users can buy NFTs using crypto-wallets. Crypto Pay allows users to use more than 20 cryptocurrencies, including Bitcoin, Ethereum, and even Dogecoin.

Users can also buy NFTs using debit or credit cards. And this is the most significant plus point of Crypto.com NFT. Any fan can buy NFTs of their favorite artists using a debit/credit card. Hence, to buy or sell NFTs in crypto.com NFT, users are not required to hold any cryptocurrency.

How to get started with Crypto.com NFT Platform?

Crypto.com NFT’s home page shows the upcoming drop releases. As per the below image, the Upcoming drop — “An Especially Iconic drop” by Axel Mansoor, will release on 8 April.

Crypto.com NFT home page
Crypto.com NFT home page

Before we create, buy or sell any NFT, we need to sign up for crypto.com NFT.

Crypto.com NFT sign up
Crypto.com NFT sign up

Sign up step requires the user’s full name, working email id, username, and password. Crypto.com NFT will send email verification mail.

After verifying the email address, users can sign in to crypto.com NFT using the same credential.

Crypto.com NFT’s home page has four tabs on the top.

Navigating through Crypto.com NFT Platform: Features

Marketplace

A Marketplace is a place where users can buy NFTs and resell purchased NFTs.

Drops

Users can find all live, upcoming, and ended drops’ details here.

My NFTs

My NFTs
My NFTs

My NFTs will show your collectibles, NFTs on sale and created by you.

Profile

This is the place from where users can edit or view their profiles.

Edit profile
Edit profile

Users can also view all the account activities like sales history, purchase history, and bids by selecting “Account Activity” from the profile menu.

Account activity
Account activity

Crypto.com NFT Drops

As we discussed earlier, a drop can be defined as an event when artists release the collection of their unseen digital art for selling purposes.

To explore dropping events, switch to the “Drops” tab.

Crypto.com NFT — Drops page
Crypto.com NFT — Drops page

The “Drops” page shows upcoming drops and the ended dropping events depicted in the above image. It also displays a live drop, if any available.

You can see the details of the drop by clicking on the drop name. Let’s discuss upcoming drop details.

Upcoming Drop Details

Upcoming drops are the drops that are scheduled to release in the future.

To see the upcoming drop details, click on any upcoming drop name available on the Drops page.

Upcoming drop details
Upcoming drop details

In drop details, you will find information on the artist who created art (NFT) and information on the drop. You can subscribe for a drop by clicking on the “Subscribe” button available on the drop details page so that you will get notified when a drop is about to live.

You can also see the artist’s profile by clicking on “See Profile” on the drop details page.

Artist’s profile
Artist’s profile

Artist’s profile displays the collectibles of an artist. It also shows selling NFTs (NFTs put on sale by artists) created by artists.

Live Drop Details

Live drops are the drops that are released and live now. During a drop event, you can buy NFT editions directly from a drop. There will be a limited no of editions for each NFTs of a drop.

To see the live drop details, go to the Drops page and select any live drop if available. This will open the live drop details page as shown below.

Live drop details
Live drop details

When you scroll down on the Drop details page, you will find the items of the drop. 

Live drop’s items(NFTs)
Live drop’s items(NFTs)

These items can be considered as NFTs. There can be any number of copies for each NFT that is defined by the number of editions. You can also see the live count of editions available for buy as “* Available.”

If total number of editions is 10, then each edition uniquely identify by edition #1, #2, #3,…, #10. This means there are ten copies of NFT available. Consider, four copies have been sold, then still there are six editions available to buy. 

To see more details of NFT, Click on your choice of NFT.

Live drop’s NFT listing
Live drop’s NFT listing

On live drop’s NFT listing page, you can find a description of NFT, its editions and can buy your choice of edition. We will discuss buying steps in depth later in this article.

Ended drop details

Ended drops are the drops that were released in the past.

To see the ended drop details, click on any ended drop name available on the Drops page.

Ended drop details
Ended drop details

Here, I selected BossLogic’s Greater Heights drop; the first drop took place on 26 March 2021. This drop has three NFTs; each has 200 editions. In simple terms, there are 200 copies of each NFT.

Let’s click on any NFT.

Ended drop’s NFT details
Ended drop’s NFT details

The drop has ended for the above NFT. Hence, you will not be able to purchase it from a drop. But you can buy it from the peer users who purchased this NFT’s editions during a drop and owning it right now. You can buy it from the marketplace if any owner has put it on sale.

You can go to the marketplace by clicking on “View in Marketplace.” Click on it.

Listing on marketplace
Listing on marketplace

The only option to buy NFT of the ended drop is Marketplace. The name of the above NFT is “It will be ok.” There are a total of 200 editions of this NFT. On the marketplace, users can also see all available editions’ details. For that, click on “Explore All Editions” available on the Marketplace listing page.

View editions
View editions

It lists all the editions’ details. The NFT that we opened in the marketplace has 200 editions. Hence 200 entries will be found here. It displays the current owner of all editions and also specifies whether they are on resale or not.

Edition #130
Edition #130

You can also select an edition to buy from available editions. In the above image, the selected edition is #130, which is owned by “mishamatic.” 

To select any other edition of this NFT, click on “Select Available Editions.”

Select edition
Select edition

Select edition lists all the editions which are currently available for sale with price. You can select any edition from this list that fits your budget.

Selected edition #177
Selected edition #177

I selected edition #177, which is available for buy at $7,777 price.

How to buy NFT on Crypto.com Marketplace?

Now we will see how to buy NFTs.

Go to the Crypto.com NFT marketplace.

Crypto.com NFT Marketplace
Crypto.com NFT Marketplace

Marketplace shows all the NFTs which are available for sale. You can filter out NFTs based on types like art, celebrities, gaming, or sport.

To buy NFT editions, there can be two possibilities:

  1. Place a bid
  2. Buy at a fixed price

It is up to the seller to sell his NFT edition via bidding or at a fixed price.

Place a Bid

Select any NFT from the marketplace.

NFT listing
NFT listing

Click “Select Available Editions”

Select an edition to buy by placing a bid
Select an edition to buy by placing a bid

Now which edition to select to place a bid?

For that, see the price column. Some editions have a price as “Starting Bid: $****” while some editions are having “$****”. Starting bid indicates that users have to place a bid to buy an edition. And only price telling that edition is available for sale on the mentioned price.

Edition #6 is available for sale at fix price, while to buy Edition #4, users have to place a bid.

So I will select Edition #4.

Selected edition to buy by pacing a bid
Selected edition to buy by pacing a bid

Click “Place a bid.”

Place a bid to buy NFT edition
Place a bid to buy NFT edition

Enter a bid amount. The bid amount should be greater than the starting bid.

Click “Place bid.”

How to buy an NFT on Crypto.com at a Fixed Price?

Select any NFT from the marketplace.

NFT listing
NFT listing

Click “Select Available Editions”

Select an edition to buy at a fixed price
Select an edition to buy at a fixed price

Select an edition to buy at a fixed price

Now, select an edition that is available for sale at a fixed price.

So I will select Edition #6.

Selected edition to buy at a fixed price
Selected edition to buy at a fixed price

Click “Buy For $250,000.”

Select payment option
Select payment option

As we discussed before, there are two options to pay on crypto.com NFT.

  1. Pay with a credit/debit card
  2. Pay with crypto

Pay for NFT with a Credit/Debit Card

You can go with a credit/ debit card option if you are not holding any cryptocurrency.

To pay via credit/debit card, click the “Credit/Debit card” button.

Pay with a credit/debit card
Pay with a credit/debit card

Enter the card details and click “Pay Now.”

Pay with Crypto

You can also pay for NFT using crypto.com pay. Crypto Pay allows you to use more than 20 cryptocurrencies, including Bitcoin, Ethereum, and even Dogecoin.

To pay via crypto.com pay, Click the “crypto.com Pay” button.

Crypto.com Pay - Select wallet
Crypto.com Pay – Select wallet

Crypto.com NFT supports the Crypto.com app, MetaMask, WalletConnect, and also other cryptocurrency wallets. If you have a Crypto.com account, it is advisable to go with the “Crypto.com App” option. This option doesn’t charge any network cost.

If you are not holding any cryptocurrency, you can also sign up to Crypto.com app and buy cryptocurrency by clicking on the link on the bottom — “Sign up and buy here” and then continue with the below steps.

I have a crypto.com account. So, I select “Crypto.com App.”

Scan with crypto.com app
Scan with crypto.com app

To pay :

  • Open Crypto.com App (In mobile)
  • Hit the “Pay” button
  • Scan QR code

Don’t close the above window until the payment is confirmed.

This is how you can buy NFTs.

After purchasing the NFT edition successfully, you will find the purchased NFT edition in My NFTs > Collectibles.

Crypto.com NFT Creators Community

If you want to join the NFT creators’ community on Crypto.com NFT, you will be required to have a conversation with Crypto.com NFT about what you want to bring to life as an NFT. For this – 

  • Go to crypto.com NFT home page
  • Scroll down to the footer
Crypto.com NFT home page
Crypto.com NFT home page
  • Click “Creator Waitlist”
Creator waitlist
Creator waitlist
  • Click on “Talk To Us”
  • Provide all the information as asked.

Crypto.com NFT Platform Review: Conclusion

After discussing a lot of things about Crypto.com NFT, we can conclude:

  • Crypto.com NFT has collaborated with many famous digital artists like Snoop Dogg, BossLogic to share exclusive drops of arts.
  • The first drop of Crypto.com NFT was scheduled for 26 March 2021.
  • Drop can be defined as a collection of NFTs(Digital arts). Each NFT can have any number of editions(Copies) that users can buy.
  • Users can buy ended drop’s NFT editions from the marketplace.
  • There are two possible ways to buy NFT editions: place a bid or buy at a fixed price. It is up to sellers how they want to sell their NFT edition.
  • Users can buy NFT editions using debit/credit cards or crypto wallets. If a user is not holding any cryptocurrency, he can also purchase art from his favorite artist via debit/credit card.

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