This is the first article in a two-part series about the Crypto.com NFT platform. Our goal in this article is to provide answers to three important questions concerning the NFT platform and its associated non-fungible tokens.
So, let’s dive and have a look what’s cooking with the Crypto.com NFT marketplace.
— Crypto.com (@cryptocom) December 15, 2022
Crypto.com NFTs to OpenSea
Crypto.com NFT, a specific platform for trading non-fungible tokens, tries hard to become a one-stop service for their NFT marketplace. As a result, in July 2022, they announced a new opportunity with OpenSea. You can now browse and buy selected OpenSea listings with a fixed price.
This comes with a couple of advantages. For example:
- You only need one account with Crypto.com’s NFT platform. Consequently, you don’t need a non-custodial wallet, like a MetaMask.
- Anything you buy from your account with Crypto.com’s NFT platform can be in USD. You can use your account balance, a credit/debit card, or the Crypto.com Pay option.
- Listing has no fees.
- If you sell one of these collectibles to another Crypto.com NFT user, there’s also no fee.
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— Crypto.com (@cryptocom) September 30, 2022
Crypto.com NFTs on the App
The Crypto.com NFT marketplace is different from Crypto.com. The latter is a centralized crypto exchange (CEX). So, the fact that Crypto.com has an app doesn’t necessarily mean that the NFT platform also has an app.
Having said that, there is good news. The marketplace is also available on the regular Crypto.com app. You can connect your NFT account to your Crypto.com account by following a few easy steps. You can do this as an existing NFT account user or as a new one. So, if you already have an account with Crypto.com’s NFT platform, this is how you can connect to the Crypto.com app.
- Go to your Crypto.com home screen.
- Click “Crypto.com NFT > Connect existing account.”
- Enter your Crypto.com NFT password.
- You will receive a verification code in your inbox. Enter this code and click “Confirm Connection.”
If you are a new user, follow these steps:
- Go to the home screen of the Crypto.com app.
- Click “Crypto.com NFT > Get Started.”
- To activate your Crypto.com NFT account, you need to enter a username and password.
- Confirm this and once you’re done, you can connect to your NFT account.
Here’s also a short video that explains all these steps.
Crypto.com NFT Marketplace
Crypto.com launched their non-fungible token marketplace in 2021. So, they’re the new kids on the NFT marketplace block. For new NFT collectors, this marketplace may be precisely what they are looking for or what they need.
As one of the very few NFT marketplaces, the platform allows credit or debit card payments. Most Ethereum or Solana-based marketplaces don’t have this option. So, that is a definite plus. Another great feature is that if you pay with the Crypto.com app, which means no fees.
However, there are also a few downsides. For example:
- If you want to launch a mint, you must become a creator. This process takes three days. There’s also a $3 fee for each NFT submission. In case they reject your submission, there’s no option to re-submit.
- They offer collections from five different chains: Ethereum, Crypto.org, Polygon, Solana, and Cronos. However, they only offer selected collections. For an avid trader, this may be too restrictive. For a newbie in NFTs, this may be an ideal solution. It reduces the chance of a scam or rug pull.
- They only support five formats: JPEG, JPG, PNG, GIF, and WEBP.
To sum up, the platform may be an ideal solution for a NFT newbie. Due to the selected available collections, there’s a limited chance for a rug pull or scam. There’s also the option to pay with fiat by credit or debit cards. On the other hand, experienced NFT collectors might find this marketplace too restrictive. The picture below shows the Crypto.com NFT marketplace landing page.
Source: Crypto.com NFT marketplace
This is Part 1 of two articles about Crypto.com’s NFT platform. We covered OpenSea, their app, and their NFT marketplace in this article. Be on the lookout for Part 2, which is coming soon.
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