ApeChain NFTs are digital assets you can buy, mint, sell, and trade on ApeChain, the dedicated blockchain of the ApeCoin DAO.
Read on to find a step-by-step guide on how to buy ApeChain NFTs.
What Are ApeChain NFTs?
ApeChain NFTs are unique digital assets that exist within the ApeChain ecosystem. These NFTs are stored on the ApeChain network and have a unique identifier and metadata. Like those on other networks, ApeChain NFTs are designed to represent digital assets, such as art, digital items, and media.
The ApeChain network is a Layer 3 protocol created as an Arbitrum Orbit chain by the ApeCoin decentralized autonomous organization (DAO). Built specifically for the APE ecosystem, it is powered by ApeCoin, an ERC-20 governance and utility token.
ApeCoin holders can vote on decisions affecting the APE ecosystem and gain access to exclusive events and services. Additionally, the token incentivizes third-party developers to create apps that integrate ApeCoin.
Buying ApeChain NFTs: Step-by-Step
Now that you understand what ApeChain NFTs are, let’s look at how to purchase them using Magic Eden, a market-leading multi-chain NFT platform that enables users to discover, browse, buy, mint, sell, and trade NFTs.
You will need several items to buy ApeChain NFTs. These include a secure NFT marketplace, a compatible crypto wallet, and sufficient APE to purchase the NFTs.
Set Up a Compatible Wallet
The first thing you’ll need to do to buy ApeChain NFTs is find a compatible wallet. You can use various wallets but it has to be one that supports ApeChain and NFTs.
Fund Your Wallet
To buy APE, you’ll need to buy the token on an exchange or swap crypto you already have in your wallet into APE. Once the transaction is verified, the APE tokens will be deposited into your wallet in minutes.
Connect Your Wallet to Magic Eden
Visit the MagicEden.io platform and select your chain as ApeChain. Next, click on the login icon, choose to connect your crypto wallet from the list of wallets, and sign the confirmation.
And that’s how to connect your wallet to the Magic Eden NFT marketplace.
Browse and Choose an ApeChain NFT
Next, browse the list of ApeChain NFTs and select your preferred NFT.
You can apply different filters to narrow down your NFT collection. These filters can include status, price, rarity, and traits.
Confirm and Complete the Purchase
There are two ways to buy an NFT on Magic Eden: you can choose the ‘Buy Now’ option or ‘Make an Offer’.
The ‘Buy Now’ option lets you purchase the NFT immediately at the fixed price, while the ‘Make an Offer’ option allows you to bid for the NFT and wait for the seller to accept your offer.
If the selected ApeChain NFT is available for immediate purchase, click ‘Buy Now,’ follow the prompts to finalize the transaction, and click ‘Approve’ in your Magic Eden Wallet to confirm the transaction.
You can then view the NFT in your wallet. Within the wallet, navigate to the ‘portfolio’ section and click ‘Collectibles’ to view your ApeChain NFT.
That’s how to buy ApeChain NFTs on Magic Eden.
How Should You Store Your NFT After Buying It?
Storing your NFTs is just as important as buying them.
After purchasing your NFTs, you want to ensure they are safe from accidental loss, hacks, or phishing attempts.
The best way to securely store your NFTs after buying them is to use a non-custodial wallet. Make sure it supports the chain your NFT is on. Additionally, never share your seed phrase with anyone, as this can lead to the loss of your funds.
However, if you are looking to HODL your NFTs for a while, consider using a hardware wallet storage option.
Should You Ape Into ApeChain NFTs?
Whether you should Ape into ApeChain NFTs depends on your NFT collecting goals and your risk tolerance.
If you have some APE tokens in your wallet and want to experiment in a growing NFT ecosystem, then go for it. However, if you prefer buying into well-established NFT projects on well-known chains, ApeChain NFTs might not be for you.
Should you choose to buy ApeChain NFTs, make sure to do your own research (DYOR) and make informed decisions regarding your purchases. And, as a rule of thumb, only invest what you can afford to lose.
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