In this video clip from “The Crypto Show” on Motley Fool Live, recorded on Feb. 2, Fool contributors Jon Quast, Travis Hoium, and Chris MacDonald discuss the two different ways that investors can buy NFTs.
Jon Quast: If somebody was interested in buying an NFT, there’s two ways to do that, right? You can either buy it on the drop, when the project goes forward, the mint, or you can buy it on the secondary market. I don’t know if you just want to speak to that really quickly. Maybe the basic process somebody will go through and what would influence that decision?
Travis Hoium: Yes. On a basic level, the mint is the first sale of the NFT. Let’s go with our Bored Ape Yacht Club. Those minted for .08 Ethereum ( ETH -4.51% ), so about $200.
Quast: Right. Yes. Not very much.
Hoium: [laughs] Just to give you an idea of how far that has gone up. There’s typically a website, sometimes they’re moving out to marketplaces where you connect your wallet. That’s another topic we can dive into another day if…
