A Beginner's Guide to Acquiring Solana NFTs in 2022

You might have heard about the digital artist Beeple making headlines when he sold his first NFT for an eye-popping amount. $69 million Or heard about Visa’s jaw-dropping acquisition of a CryptoPunk NFT for a truly hefty cost. $150,000 No matter how you slice it, you've got the itch to get involved in the NFT craze, whether it’s to buy your first digital collectible or to simply explore this trending market.

If you haven't yet familiarized yourself with the concept, NFTs— short for non-fungible tokens— represent distinct, indivisible digital assets stored on a decentralized blockchain ledger. Because NFTs are created directly on the blockchain, they inherit the robust security and resistance to censorship characteristic of this technology. Moreover, as blockchain networks allow public traceability, NFTs serve as the first truly tamper-proof certificates of digital ownership.

Almost anything can be tokenized; from tangible items like vehicles, clothing, and property to digital resources such as research articles, digital art, and music. No matter what type of asset you seek, you can certainly find it on a Solana NFT marketplace— a network known for its speed and cost-effectiveness. NFT This guide will walk you through everything necessary to know about Solana, what you need to kick things off, and how you can effortlessly purchase your first NFT.

Getting Started: Essentials for Buying Your First Solana NFT

Table of Contents:

What Is Solana?
Step 2: Acquiring SOL - the Native Cryptocurrency of Solana
- Step 1: How to Set Up a Phantom Wallet
- Step 3: Selecting an NFT Marketplace on Solana
- Step 4: A Step-by-Step Approach to Buying Your Very First NFT
- Solana is renowned as one of the initial web-scale blockchains and is among the fastest available networks, boasting a claimed capacity of 50,000 transactions per second (TPS). It positions itself as a 'high-performance' blockchain, leveraging rapid transaction speeds, scalability, and economical fees— with transaction costs averaging just $0.00025.
Closing Thoughts: Why Solana?

What Is Solana?

Solana This innovative technology was birthed in 2017 by Anatoly Yakovenko, who previously held positions at Qualcomm and Dropbox. Yakovenko partnered with his old colleague Greg Fitzgerald to launch the initial Solana testnet in February of 2018.

The layer 1 blockchain protocol’s white paper Solana’s decentralized network utilizes a blend of innovative consensus mechanisms, specifically Proof of History (PoH), a unique approach focused on scalability that allows transactions to finalize in a mere 2.5 seconds with a throughput of 50,000 TPS. To put it in perspective, this means Solana executes transactions around 10,000 times quicker than Bitcoin, approximately 3,800 times faster than Ethereum, and significantly surpasses Visa's theoretical throughput of 24,000 TPS.

Developers can take advantage of Solana’s open and permission-free blockchain environment to craft highly scalable decentralized applications, such as cryptocurrency exchanges or NFT platforms. Users engaging with cryptocurrencies can send funds in just seconds, benefiting from some of the industry's lowest fees. These economical transaction costs also positively impact those who create and purchase NFTs. proof-of-stake (PoS) and proof of history The impressive speed and minimal transaction fees that Solana offers are made possible by its unique infrastructure, which aligns the performance of its decentralized, permissionless network of nodes with that of a single node. To summarize, the key computational innovations from the Solana team include:

Proof of History (PoH), which serves as a timing mechanism for consensus; dApps) Tower BFT — an optimized version of PBFT tailored for PoH;

Gulf Stream — a mempool-less protocol for transaction forwarding; 8 core innovations Sealevel — a runtime for parallel smart contracts;

Pipelining — a transaction processing unit for enhanced validation;
Cloudbreak — a horizontally scaled database for accounts;
Turbine — a block propagation protocol;
Archivers — a system for distributed ledger storage;
Now that we’ve highlighted the foundation and advantages of the network, let’s delve into what you’ll need before you can start purchasing NFTs on Solana.
You may think that the process looks complicated with its multiple steps, but in truth, it boils down to just four simple steps: setting up your Phantom wallet, acquiring some SOL tokens, selecting an NFT marketplace, and finally purchasing your inaugural NFT.
While most marketplaces for NFTs on Solana accommodate three main wallets— Phantom, Solflare, and Sollet— Phantom shines as the clear favorite, especially regarding user-friendliness. Here are three straightforward steps to easily set up your Phantom wallet:
As you open your browser, the page for the Phantom web extension will appear, guiding you to add the extension.

Upon installing the extension, select 'Create New Wallet' and follow the prompts that appear.

Step 2: Acquiring SOL - the Native Cryptocurrency of Solana

Important note: It’s crucial to write down your unique crypto recovery phrase and keep it secure. If you lose this phrase, you will lose access to your funds, with no way to regain them.

Step 1: How to Set Up a Phantom Wallet

For further instructions, you can consult the community guide available on Solana’s resources. Now that your Phantom wallet is ready, let’s guide you through acquiring your initial SOL tokens.

Visit the Phantom App’s page and download Phantom for Desktop.
SOL serves as Solana’s native cryptocurrency, essential for paying transaction fees on the chain, smart contract charges, and generating passive income through staking. Currently, SOL ranks as the 8th largest cryptocurrency in terms of market capitalization, trading at about $85.87, with a total market cap of $27.4 billion.
Various platforms offer SOL token sales, but to keep things straightforward, we’ll focus on one popular centralized exchange. The exchanges that generally provide the best user experience include:

Although the buying process tends to be similar across these platforms, we’ll use Binance as our key example. Here’s what you need to do:

To begin, create an account on Binance, going through the necessary Know Your Customer verification to authenticate your identity. This process may take a couple of days for the platform to complete. how to create a new wallet After setting up your account, submitting your id documents, and linking your payment method, you’re all set to buy some SOL.

Step 3: Selecting an NFT Marketplace on Solana

SOL Navigate to the homepage and select the 'Buy Crypto' option located at the upper left of the screen. You’ll find three different purchasing methods here:

56 crypto exchanges You can deposit fiat currency directly from your bank account into Binance, using that to purchase cryptocurrencies. This often proves to be the more economical choice since you only incur your bank's transaction fees, although it could take up to two days for the funds to appear.

Alternatively, you can make an instant purchase with a credit or debit card. This is the fastest and simplest method but may include an additional 2.5% fee.

Create an account You might also find third-party payment services like Simplex, Banxa, and Paxos available, but these typically come with higher costs.

Regardless of your chosen method, you can use your fiat to buy SOL right away, or you may choose to wait for a more favorable price.
On the Binance After acquiring your SOL, it’s time to transfer those tokens into your Solana-compatible Phantom wallet. Head over to your

Select SOL as your coin, choose Solana for the network, and prepare to withdraw to a fresh address.
You can also buy crypto Log in to your Phantom wallet and copy your public address displayed at the top of the extension. It should resemble something like this: 13rckdUMUtwhQbTdq8Utfp4CibhMBW3TcAs8ErTDeqC7. Paste this into the withdrawal section on Binance and indicate how many tokens you wish to send.
Once you’ve carefully reviewed all your details, hit the withdrawal button at the bottom of the page to complete the transaction. Your funds should land in your Phantom wallet within about five minutes, enabling you to purchase and mint NFTs on Solana.

For additional guidance on this process, you can refer to Binance’s
Step 3: Selecting an NFT Marketplace on Solana Binance wallet and then click on the “ Withdraw Crypto ” prompt.

With the challenging steps behind you, all that's left is to pick an NFT marketplace on Solana. Here are some of the most well-regarded options:
While every NFT marketplace within the Solana network enjoys low transaction and minting fees, for simplicity’s sake, we’ll go with Solanart.
Now, let's get down to business— making your first NFT purchase on Solanart. Follow these steps:

Click on 'Connect Wallet' at the upper right corner of the screen to pair your Phantom wallet. video tutorial or print tutorial You can explore popular collections by clicking on them, or you can search for a specific collection if you already have one in mind.

Once you’ve found a collection you like, such as the popular one, select an NFT by clicking on it to view its attributes.

At this stage, you can either make an offer by selecting 'Make Offer' or simply choose 'Buy now' to pay the asking price for the NFT.

After opting for 'Buy now', a prompt will appear from your Phantom wallet to confirm the transaction. The transaction will proceed once you approve it in the wallet.

Solana is renowned as one of the initial web-scale blockchains and is among the fastest available networks, boasting a claimed capacity of 50,000 transactions per second (TPS). It positions itself as a 'high-performance' blockchain, leveraging rapid transaction speeds, scalability, and economical fees— with transaction costs averaging just $0.00025.

Wait around 2.5 seconds for the transaction to conclude and the NFT to appear in your wallet, and voila! You are now the proud owner of your very first NFT.

Visit Solanart Should you be considering launching your own collection and minting your first NFT, Solana-native marketplaces are an ideal starting point. You can find comprehensive information on how to mint your initial NFT on Solanart by visiting their resources.
A Comprehensive Guide to Purchasing Solana NFTs: 2022 Edition by Metaverse Post
You might have come across the sensational news of digital artist Beeple making headlines by selling his first NFT for an astounding $69 million. Additionally, there’s the story of Visa investing a mind-boggling $150,000 into a CryptoPunk NFT. If you’re eager to dive into the world of NFTs yourself, this guide will show you precisely how to do it using Solana. SolPunks A Comprehensive Guide to Purchasing Solana NFTs: 2022 Edition

If you’ve been keeping up with the buzz in the digital art world, you likely heard about Beeple’s incredible NFT sale. Or perhaps you know that Visa made a substantial investment in a CryptoPunk NFT.
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Here is the list of best Solana NFT marketplaces that you should know about.

Closing Thoughts: Why Solana?

To enhance your experience in your local language, we sometimes utilize an automatic translation tool. Please understand that this tool may not provide perfect translations, so do take a moment to read through carefully. $14 You may have seen headlines about Beeple’s astounding NFT auction results.

Or how Visa invested heavily in a CryptoPunk NFT that cost them a staggering amount. $6.9 billion , up from $148.99 million a year ago.

In any case, if you're keen on exploring the world of NFTs and acquiring your first digital collectibles, or even just wishing to learn more about this rapidly growing market, you're in the right place.

For those who might not be familiar, NFTs, or non-fungible tokens, represent unique digital assets that aren’t interchangeable with anything else. They exist on a decentralized blockchain, granting them not only security but also heightened resistance to censorship. Furthermore, since blockchain networks can be publicly tracked, NFTs serve as the first-ever reliable certificates of digital ownership. guide .

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In line with the Trust Project guidelines What You Need to Get Started Before Purchasing Your First Solana NFT