How to Buy Your First NFT Using Trust Wallet
Learn how you can acquire Binance Smart Chain NFTs directly within the Trust Wallet DApp Browser.
The NFT market is booming, with some crypto art and collectibles selling for millions. In this guide, you will learn how to get your hands on some of the first NFTs issued on Binance Smart Chain.
What Are Non-Fungible Tokens?
Unless you are new in the crypto space, you would agree that non-fungible tokens (NFTs) are a hot topic right now. You can hardly scroll through your Twitter or Facebook feeds without seeing threads on how much potential they carry.
This past February bore witness to some of the biggest NFT sales: Grimes selling $6 million worth of digital art pieces as NFTs and Beeple’s NFT — a 10-second clip — sold for $6.6 million. And, in early in March, Twitter’s CEO, Jack Dorsey, created an NFT for his first tweet.
**NFTs are unique cryptographic tokens that represent a physical or digital asset. **
NFTs can represent anything: art pieces, properties, achievement, trophies, unique video game items, digital IDs, or even domain names.
How to Buy an NFT using Trust Wallet
This is Binance Winter — an NFT we just bought off an artist on Bakeryswap using the Trust Wallet app. Below, you will learn how you can do that too.
What is BakerySwap
BakerySwap is an automated market maker and decentralized exchange platform on Binance Smart Chain. It is also a pioneering marketplace for NFTs on Binance Smart Chain.
Considering BSC’s edge over Ethereum in transaction speed and gas fees, it is only a matter of time until more NFTs projects come on board.
What NFTs Can You Buy on BakerySwap?
The NFT Supermarket on BakerySwap offers various a range of NFTs, including digital art, GIFs, weapons, virtual kittens, and puppies.
Available sections include:
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Musk & Doge;
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Binance NFTs;
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BTC Artworks;
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Battle Pets;
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Weapons;
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Pet Eggs;
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and Bakery Combos.
These NFTs vary significantly in price, ranging from 2 BAKE to over 1,000,000 BAKE. The good thing is that you can sort pieces in each section by price so you can quickly know where you stand on the luxury scale.
The ‘BSC Artists’ is a special section for artworks from artists all around the world. Anyone can “mint” an NFT on Binance Smart Chain and put it up for sale. This is where we got our Binance Winter artwork.
Step-by-step Guide
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Fund your trust wallet with BNB
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In the Trust Wallet DApp Browser, open Bakeryswap.org, go to Exchange and swap BNB for BAKE. All NFT purchases are made with BAKE — the platform’s native token. At the time of writing, 1 BAKE is $1.12 and 0.0049 BNB. (Remember to leave some BNB for gas fees)
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Now that you have BAKE, head to the NFT Supermarket. You will see the available NFTs in each section.
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Select one of your choosing and click on Approve NFT Supermarket.
- Once the transaction is completed, go to your Trust Wallet dashboard and click on Collectibles. Your NFT will be listed there. Yes, it’s as simple as that!
Transaction Summary
In the example above, we purchased an art piece off Rumelgraphy, an active BSC artist, for 55 BAKE. We can decide to hold as a store of value or put it back on the marketplace in an attempt to sell it for a higher price.
While NFTs are a highly speculative and risky asset class, they can also be potentially lucrative.
To get started with NFTs on Binance Smart Chain, download Trust Wallet today.