The Many Ways to Buy An NFT
How to Buy an NFT? Buying an NFT is something that is not as complicated as it might first seem. There are two different ways to buy an NFT. The first way is to “mint” or to create an Awkward Monkey on the Awkward Monkey’s Official website. The second way to buy an NFT is to buy one on an NFT marketplace. These are two very different ways of obtaining a Monkey NFT art. Let’s look at the benefits and detriments of minting and buying an NFT on a Marketplace versus minting an NFT.
Minting an NFT: Creating an NFT
All Monkey NFTs and NFT Monkeys are first created or minted at the main website of the NFT Monkey Project. This is the first difference between minting or creating an Awkward Monkey NFT versus purchasing an NFT Monkey on our website. Indeed, minting or creating an Awkward Monkey NFT only happens on the main website of the Awkward Monkey’s NFT Project. As with all NFT Monkey and Monkey NFTs, minting and creating an NFT only occurs on the main website of the NFT project.
But what does it mean to “mint” or to create a Monkey NFT, as opposed to just simply purchasing an NFT on OpenSea, MagicEden, or on any other popular NFT marketplace. The difference is significant. Let’s look at what happens when an individual clicks on the “Mint” button on an NFT Monkey Project. First, as you can see from the screenshot below, from the Awkward Monkey’s official website, the NFT Project’s main website will have a “Mint” button somewhere highlighted on the main page.
Almost all NFT Project websites have a “button” to click for “minting” or for “creating” your own NFT. Because each NFT is unique by its very nature, each minted NFT will have unique characteristics, even if that unique characteristic is simply a serial number.
The Awk Monk Limited Edition NFT Collection
The Awkward Monkey NFT Project is similar to all minting Monkey NFT and NFT Monkey websites. There is only a “mint” button to press and the “minting” and “creating” process begins. Conversely, when purchasing an NFT on an NFT secondary marketplace, such as Digital Eyes, the consumer can actually choose the NFT Monkey they desire. Below is a screenshot from the NFT Marketplace’s Awkward Monkey Collection:
No one knows, not even the NFT Monkey Project itself, what characteristics and what type of Awkward Monkey the individual will obtain when they go to mint their own Awkward Monkey NFT. Alternatively, if the consumer wants to purchase a specific Awkward Monkey, and knows the characteristics and traits that the consumer wants, or they just simply like a particular Monkey NFT, then purchasing the Monkey NFT directly from a marketplace such as Digital Eyes would be advantageous to the buyer.
Unique Piece of Art
Minting an NFT is a random process. In other words, the NFT you get when you mint an NFT t is random and there is some excitement involved, as the minter of the Awkward Monkey never knows – until they look in their cryptocurrency wallet – what Awkward Monkey they obtained. The Awkward Monkey could have rare and valuable characteristics.
Each Monkey NFT and Awkward Monkey NFT are unique and one-of-a-kind. No other individual will ever have the exact combination of colors, characteristics, and other attributes unique to your Monkey NFT. For example, each Awkward Monkey could come up with 8 different Body types alone. Some of these characteristics are more common than others, thereby adding to the value of the Awkward Monkey NFTs that have those more sought after characteristics. For an example of one of the rare Awkward Monkey NFTs, check out this screenshot of one of the Genesis Awkward Monkeys:
Buying NFTs on the Secondary Marketplace
Usually, NFTs are minted on the NFT project’s website. For example, you can mint an Awk Monk NFT at our main page. After an NFT has been minted the NFT owner can place the NFT for sale on an NFT marketplace such as OpenSea or Magic Eden.
NFTs Supplies are Limited
All NFTs have a limited supply. The NFT Project in charge of the NFTs set the limit for the NFT supply. For example, with respect to the Awkward Monkey NFTs there are only 8,888. That it is. Once the entire supply is minted, the only way to obtain an Awk Monk NFT is to purchase the NFT on a secondary NFT marketplace.
Accordingly, what we have seen over and over again on the secondary NFT Marketplaces is an increase in price from what the “Mint” price was to what the price is of NFT Monkey secondary marketplace.
Thank you for reading this article, we hope it was helpful. Please check back for more news on NFTs, resources, and updates on our Project, Awk Monks! Also, check out our Ultimate NFT Monkey Guide for more in-depth information on all things NFT Monkey Art at: The Ultimate NFT Monkey Guide.