I was confused the very first day I heard about NFT trading cards.
My years of experience as an NFT writer were about to be trampled upon because I thought NFT trading cards were the same as NFT.
I kept mute and went to research about NFT trading cards.
Several other people shared my misunderstanding.
After spending 30+ hours researching this topic, I have summarised everything for you so you spend less than ten minutes reading time to understand it.
NFT trading cards: What are they and how do they work
What is a trading card NFT?
A trading card NFT is a kind of NFT that mimics the features and functions of physical trading cards, such as sports cards, game cards, or collectible cards.
Trading card NFTs have different attributes, such as rarity, design, stats, etc., that determine their value and desirability.
One example of trading card NFTs is NBA Top Shot, which features video clips of basketball highlights.
Curio Cards, which showcases artwork from various artists.
Gods Unchained, which is a multiplayer card game.
These NFTs can be bought, sold, and traded on online marketplaces using cryptocurrencies such as Ethereum, Solana, Polygon, etc.
Difference Between a Trading Card NFT and NFT.
NFTs are unique and indivisible digital tokens. Each NFT has a distinct identifier on the blockchain, proving its authenticity and ownership.
They can serve various purposes, including digital art ownership, in-game assets, event tickets, virtual collectibles, and more.
NFT trading cards are a specialized subtype of NFTs designed to mimic physical trading cards’ appearance and collectible nature. They often feature visual artwork, rarity levels, and sometimes in-game attributes.
They are primarily collectibles within the NFT ecosystem, frequently used in gaming, entertainment, or fan communities.
How does a trading card NFT work
Creation: An artist or creator designs a digital trading card, including its visual artwork, attributes, and any relevant information. This card is then minted as an NFT on a blockchain platform supporting NFTs, such as Ethereum, Binance Smart Chain, or Solana.
Minting: Minting means creating the NFT. A digital certificate of ownership and authenticity is generated during this process, linked to the specific trading card design. This certificate includes metadata like the card’s name, description, and any attributes that make it unique.
Ownership: Once minted, the trading card NFT can be bought, sold, or traded like physical trading cards. Each trading card NFT has a distinct identifier on the blockchain, proving its uniqueness and ownership.
Marketplaces: Trading card NFTs are typically listed on NFT marketplaces, where collectors and enthusiasts can browse, purchase, or trade them. These marketplaces provide a platform for buyers and sellers to interact.
Attributes and Rarity: Trading card NFTs may have specific attributes, rarity levels, stats, or abilities, depending on the game or collection they belong to. These attributes can affect the card’s desirability and value.
Utility: In many cases, trading card NFTs are designed to be used within virtual games or online communities. Owners can use their NFT trading cards for gameplay, battles, or other in-game interactions.
Scarcity and Collectibility: The scarcity of certain trading card NFTs, often determined by their rarity or limited edition status, can make them highly sought after by collectors and enthusiasts.
Ownership Provenance: The blockchain records the complete ownership history of each trading card NFT. This transparency ensures that the card’s provenance can be easily verified, reducing the risk of counterfeit or fraudulent cards.
Interoperability: Some trading card NFTs are designed to be interoperable, meaning they can be used across multiple games or platforms that support NFTs, increasing their utility and value.
Trading card NFT marketplaces
You can buy and sell trading card NFTs in many marketplaces, depending on your preferences and interests.
Here are some of the most popular ones:
–NBA Top Shot: This is a platform where you can collect and trade video clips of NBA highlights, players, and team packs.
Each clip is a unique NFT that represents a moment from NBA history. You can also play fantasy games and earn rewards with your collection.
– OpenSea: This is a decentralized marketplace where you can buy and sell NFTs of various genres, including gaming, sports, art, and more.
You can find trading cards from popular games like CryptoKitties, CryptoPunks, Gods Unchained, and more. You can also create your NFTs and sell them on OpenSea.
– Sorare: This is a fantasy soccer platform where you can collect and trade digital cards of soccer players from over 140 clubs worldwide.
Each card is a unique NFT that represents the player’s performance and statistics. You can also join tournaments and win prizes with your cards.
– Axie Marketplace: This is a platform where you can buy and sell Axies, which are cute creatures that live in the Axie Infinity game.
Each Axie is an NFT with traits, skills, and abilities. You can use your Axies to battle other players, explore the land, and earn tokens.
– Magic Eden: This is a Solana-based NFT marketplace where you can buy and sell NFTs that run on the Solana blockchain.
Solana is a fast and low-cost blockchain that supports high-performance NFTs. You can find NFTs from various categories, such as art, gaming, metaverse, music, and more.
What makes NFT trading cards valuable
NFT trading cards are valuable for the following reasons.
Scarcity: Limited supply can make an NFT trading card valuable. For instance, “CryptoPunk #7804” is a rare and valuable NFT because only a few exist.
Rarity of Traits: Certain traits or features on an NFT trading card can be rare, making it more valuable. “Ape #8888” from the Bored Ape Yacht Club is valuable because it has unique and desirable traits.
Historical Significance: Cards linked to historical events or significant moments in the NFT world can be valuable. “The First Tweet” NFT card is valuable because it’s the first-ever tweet by Twitter’s CEO, Jack Dorsey.
Famous Creator: NFTs created by well-known artists or celebrities can have higher value. “Beeple’s Everydays: The First 5000 Days” is valuable because Beeple is a famous digital artist.
Provenance and Ownership History: Knowing the ownership history and having proof of authenticity can increase the value of an NFT trading card. The “CryptoKitty #1” is valuable because it’s the first CryptoKitty ever created.
Utility and Use in Games: Some NFT trading cards have special powers or uses within blockchain games, increasing their value. “Axie #12345” from the Axie Infinity game is valuable because it can be used in battles.
Community Demand: High demand from collectors and fans can drive up the value of specific NFT trading cards. “Pudgy Penguins” NFTs gained value because they became popular in the NFT community.
Market Demand: Market demand refers to the level of interest and desire consumers have for a particular product or service. The higher the market demand, the higher the price and value of the product or service.
Limited Editions: Cards that are part of limited editions or special sets can be more valuable. “NBA Top Shot Legendary LeBron James Dunk” is valuable because it’s a limited-edition highlight moment.
Condition: Condition in this context means the quality or state of the digital file representing the NFT trading card.
Unlike physical trading cards, which are prone to creases, stains, and scratches, NFT trading cards are digital and resistant to wear and tear. However, this does not mean they are immune to degradation or damage.
The condition of NFT trading cards can be affected by the following factors:
- File format
- File size
- File Security
Aesthetics and Artistry: Exceptional artistic quality and aesthetics can make an NFT trading card valuable. “Art Blocks Curated #12345” is valuable because it’s a highly regarded generative art piece.
Cultural Significance: NFT trading cards that become culturally significant or part of a meme can have increased value. “Nyan Cat” NFT became valuable because it’s a well-known internet meme.
– Certification: If an NFT is authenticated or verified by a trusted source, it can boost its value.
It assures collectors that they are acquiring a legitimate digital asset, not a counterfeit, fostering trust and credibility within the NFT community.
This verification often comes with marketplace advantages, legal protection, and provenance tracking, all of which contribute to the NFT’s perceived value and desirability among collectors and investors.
How to buy NFT trading cards.
To buy NFT trading cards, you need to follow these steps:
- Choose a marketplace from any of the following: Opensea, Sorare, and Magic Eden.
- Create a wallet using MetaMask.
- Add Ethereum or Solana to your wallet.
- Browse and select NFT trading cards.
- Buy the NFT trading card.
NFT trading card fees
NFT trading card fees are the costs you must pay when buying, selling, or creating NFT trading cards on a blockchain network.
There are two main types of fees that you may encounter when dealing with NFT trading cards:
– Gas fees. You pay These fees to the network for processing your transaction.
They depend on the amount of computational power and data required to execute your transaction and the level of network congestion and demand.
Gas fees are usually paid in the native cryptocurrency of the blockchain, such as Ethereum, for most NFT marketplaces.
They can vary significantly depending on the time and the platform you use, so checking the current gas prices before making a transaction is advisable.
– Marketplace fees. You pay These fees to the platform or service that facilitates your transaction.
It can include listing fees, minting fees, selling fees, and royalties.
Marketplace fees are usually a percentage of the transaction value or a fixed amount, and they may vary depending on the platform and the type of NFT trading card.
For example, NBA Top Shot charges a 5% fee for each sale, while OpenSea charges a 2.5% fee for each sale and a one-time gas fee for creating your collection.
The total cost of buying or selling an NFT trading card is the sum of the gas fee and the marketplace fee.
For example, if you buy an NFT trading card for $100 on OpenSea, the gas fee is $10, and the marketplace fee is $2.5, your total cost is $112.5.
Ideal ways to showcase NFT trading cards
Showcasing your NFT trading cards effectively can help you attract buyers and collectors.
NFT marketplaces are the most popular ways of selling your NFT. People list their NFTs and then go about their businesses, hoping that a buyer will buy their NFT one day.
But as someone who may urgently want to sell their NFT trading cards, this method is slow and sounds lucky. I mentioned more strategies you can use to showcase your NFT trading cards.
NFT Marketplaces: List your NFT trading cards on popular NFT marketplaces like OpenSea, Rarible, or Mintable.
These platforms offer built-in galleries and profiles for your NFTs, making it easy for potential buyers to browse and discover your collection.
Personal Website: Create a website or portfolio for your NFT trading cards.
You can display high-quality images or interactive 3D renderings of your NFTs, detailed descriptions, and ownership history. This provides a professional and customizable showcase for your collection.
Social Media: Share your NFT trading cards on X, Instagram, or TikTok. Use visually appealing posts and engaging captions to attract attention. Utilize relevant hashtags and engage with the NFT community to increase visibility.
Virtual Galleries and Metaverse Spaces: Explore virtual galleries or metaverse spaces like Decentraland or Axie Infinity, where you can create immersive exhibitions of your NFTs. Visitors can explore your virtual gallery and interact with your NFTs in a unique way.
Collaborate with Influencers: Partner with NFT influencers or content creators who can feature your NFT trading cards in their content. Influencers often have dedicated audiences interested in NFTs and can help you reach a broader audience.
Email Newsletter: If you have a mailing list or newsletter, regularly update your subscribers about your NFT collection.
Provide insights into your creative process, upcoming drops, or exclusive offers to keep your audience engaged.
Alternatively, instead of creating a new email newsletter, which takes months or years to build, you could partner with an existing email newsletter and give them a percentage of each sale.
Art Shows and Exhibitions: If you have physical art shows or exhibitions, consider displaying your digital NFT trading cards alongside your physical artwork. This can introduce traditional art enthusiasts to the world of NFTs.
NFT Discord and Communities: Join NFT-related Discord servers and online communities to share your collection with like-minded individuals. Engaging in discussions and networking can help you find potential buyers.
Press Releases and PR: Send press releases or collaborate with NFT-focused media outlets to feature your NFT trading cards.
How to maximize the engagement for your NFT trading cards
To maximize engagement engagement for your NFT trading cards. Do the following.
- Storytelling
- Offer Incentives
Storytelling
Create a compelling story and value proposition for your NFT trading cards.
Explain what makes them unique, rare, and valuable.
Highlight the benefits and features of your NFT trading cards, such as utility, exclusivity, or authenticity.
Jack Dorsey sold his first tweet as NFT for $2.9 million.
Do you think the cost of producing such a tweet was worth $2.9 million?
You find out that most NFTs aren’t expensive because of the cost of production but because of the stories the founders attach these NFTs to.
Use storytelling techniques to create emotional connections with your potential buyers and collectors.
The better your story is, the more money you can generate from your NFT.
Offer Incentives
Offer special perks and incentives to your NFT trading card buyers and holders.
For example, you can offer exclusive access to events, content, or experiences related to your NFT trading cards.
You can also offer discounts, bonuses, or royalties for future sales of your NFT trading cards. You can embed metadata in your NFT trading cards to unlock these benefits.
How Are NFTs Trading Cards Changing The Collectible Card Industry?
NFT trading cards are causing significant changes in the traditional collectible card industry in several ways:
Digital Ownership: NFT trading cards, recorded on blockchain technology, provide true digital ownership. This contrasts with physical collectible cards, where ownership is often based on possessing a physical item. This digital ownership empowers collectors, allowing them to easily trade and prove ownership without physical cards.
Global Accessibility: NFT trading cards are accessible to a global audience. Geographic limitations and distribution networks often constrain traditional collectible cards. NFTs can be bought, sold, and traded worldwide, breaking these barriers.
Interoperability: NFT trading cards can be used across different platforms and games, creating interoperability. Collectors can use their cards in various virtual environments and blockchain-based games, expanding the utility and value of their collections.
Immutable Provenance: Blockchain technology records the entire ownership history of NFT trading cards, offering an immutable and transparent provenance. This provenance can be crucial in verifying the authenticity and rarity of cards, reducing the risk of counterfeits.
Fractional Ownership: NFTs can be divided into fractions, allowing collectors to own some high-value cards. This fractional ownership democratizes access to valuable collectibles that may be financially out of reach as whole physical cards.
Dynamic Value: The value of NFT trading cards can evolve dynamically. Market demand, collaborations, and in-game usage can all influence an NFT card’s value, making the collectible card space more dynamic than traditional card collecting.
Direct Engagement: Collectors can directly engage with creators and other collectors in the NFT space. Artists and creators often have closer interactions with their audience, and collectors can participate in auctions, discussions, and collaborations.
Cross-Promotions: NFT trading cards enable cross-promotions between creators, brands, and blockchain projects. This can lead to innovative partnerships and limited-edition releases, creating excitement and value for collectors.
Environmental Concerns: The environmental impact of blockchain technology in NFTs has raised environmental concerns. Some collectors and creators are looking for more eco-friendly blockchain solutions, potentially influencing the industry’s direction.
Hybrid Models: Some traditional collectible card companies are exploring hybrid models, combining physical cards with NFTs. These hybrid approaches bridge the gap between the physical and digital collectible worlds.
One example of the hybrid model in the collectible card industry is the NBA and NBA Top Shot collaboration.
NBA Top Shot combines traditional basketball trading cards with NFT technology. Fans can purchase officially licensed NFTs of NBA moments, effectively owning a piece of basketball history in digital form.
This hybrid model bridges the physical and digital collecting worlds, offering basketball enthusiasts a unique and interactive experience.
How to Create an NFT Trading Card
There are several ways to create an NFT Trading Card. However, we will discuss creating an NFT Trading Card on the SettleMint platform and listing it on the OpenSea NFT marketplace.
How to Make Money with Trading Card NFTs
Trading
You can make money with trading card NFTs by buying and selling them for a profit. This is also known as flipping NFTs.
Flipping NFTs involves buying low and selling high based on the market conditions, consumer demand, and rarity of the NFTs.
To flip NFTs, you need to have
- a crypto wallet
- an account with an NFT marketplace such as Opensea
- some cryptocurrency.
You also need to research and analyze the NFT trading cards you want to buy or sell, such as their popularity, reputation, scarcity, utility, and historical significance.
Flipping NFTs can be risky and challenging, as the value of NFT trading cards can fluctuate significantly depending on consumers’ trends, preferences, and behavior.
Therefore, you should only invest what you can afford to lose and be prepared for volatility.
Creating and Selling
You can make money with trading card NFTs by creating and selling them using the marketing strategy I mentioned in this article.
Creating and selling NFT trading cards involves turning your digital art, gaming, sports, or other creative works into unique and verifiable digital assets that can be bought and sold using cryptocurrencies.
To create and sell NFT trading cards, you must follow these steps to create one on the SettleMint platform.
Collecting
Collecting NFT trading cards involves buying and holding NFTs sought after by collectors for their scarcity, historical significance, utility, or popularity.
Collectors derive satisfaction, enjoyment, or prestige from owning and displaying their NFT trading cards.
Collecting NFT trading cards can be profitable if the value of the NFT trading cards appreciates over time due to increased demand and interest from other collectors and buyers.
However, collecting NFT trading cards has risks and challenges like volatility, regulation, security, and competition.
Therefore, you should only invest what you can afford to lose and be prepared for fluctuations.
FAQs
Are trading cards considered NFTs
Trading cards can be considered NFTs if created and stored on a blockchain network.
Can you make your trading cards
Yes, you can make your trading cards and turn them into NFTs.
How is NFT converted to cash
Sell your NFT on Opensea and get Ethereum or any cryptocurrency.
Send the cryptocurrency to Binance or any centralized exchange that supports peer-to-peer.
Exchange your cryptocurrency to cash with another peer.
What is the best software to make trading cards?
There isn’t a single “best” software for making trading cards because the choice largely depends on your specific needs and preferences. However, Here are some popular options:
- Adobe Photoshop
- Adobe Illustrator
- Canva
- Inkscape
- Trading Card Maker Software
What paper is best for trading cards
When choosing paper for trading cards, the ideal type of paper depends on your preferences and the desired outcome. Here are some common options:
- Coated Cardstock (Gloss or Matte)
- Photo Paper
- Linen Cardstock
- Metallic Paper
Can you sell trading cards as NFT
Yes, you can sell trading cards as NFTs.
Is card collecting profitable
Card collecting can be profitable if you know what cards to buy, how to sell, and how to protect them.
Are digital cards worth anything?
They can be worth anything depending on the market’s demand and supply, the artwork’s quality and rarity, and the creator’s popularity and reputation.
Can a Pokemon card be an NFT
Yes, a Pokémon card can be an NFT.
Can I buy an NFT with a credit card?
You can buy an NFT with a credit card, but not directly. You will need to use a platform that supports credit card payments for NFTs, such as Coinbase, Switchere, or Mintable.
Does Pokemon have NFTs
No, Pokemon does not have official NFTs.
Is it possible to make a copy of a non-fungible token?
You can make a copy of an NFT that would make it look similar to the original one, but you can copy the exact one.
What prevents someone from saving the image of an NFT?
Nothing prevents someone from saving the image of an NFT, as it is possible and easy to do so by right-clicking and choosing the save option or using other tools to capture or record the image.
What are all the things that can be sold as NFT?
- Art
- Photography
- Music
- Gaming
- Domain names
- Memberships
Can you sell the same NFT multiple times?
You can sell the same NFT multiple times, but not in the same way. There are two main methods of selling the same NFT multiple times:
- Creating multiple copies of the same NFT
- Selling fractional ownership of the same NFT
How do NFTs differ from other types of digital assets?
NFTs are unique and cannot be replaced or exchanged with another identical item. Other types of digital assets, such as cryptocurrencies, are fungible, meaning they are interchangeable and have a standard value.
How are NFTs different from traditional digital art?
NFTs are stored and verified on a blockchain, meaning they have a clear record of ownership and provenance that cannot be altered or tampered with.
Traditional digital art can be saved or downloaded on various devices or platforms, but it may not have a clear or secure history of creation or ownership.
What’s the appeal of NFTs?
NFTs can represent anything digitized, such as art, music, gaming, domain names, memberships, etc.
This gives them a sense of diversity and creativity that appeals to different audiences and interests.
Why are NFTs expensive? Where do they get that value?
NFTs are expensive because they are unique digital assets verified using blockchain technology, which ensures their authenticity and scarcity.
Also, their value is determined by market demand and the perceived value assigned by collectors and investors.
Can anyone create a digital asset and sell it as an NFT?
Yes, anyone can create a digital asset and sell it as an NFT, as long as they have the necessary tools and resources.
How can NFT be useful for me in the future?
NFTs can be useful for you in the future in many ways, depending on your interests and needs. Here are some possible scenarios where NFTs can benefit you:
– If you are an artist, musician, or content creator, you can use NFTs to sell your digital works online and earn royalties from their resale.
– If you are a collector or investor, you can use NFTs to buy and sell unique and scarce digital assets with high artistic or cultural value.
– If you are a student, professional, or entrepreneur, you can use NFTs to create and verify your digital identity, credentials, and reputation.
Can all art be digitalized and sold as an NFT?
Yes, theoretically, any form of art can be digitalized and sold as an NFT as long as it can be converted into a digital file that can be uploaded to a blockchain network.
What are gaming NFTs?
Gaming NFTs are non-fungible tokens representing digital items or assets from online gaming and the metaverse.
Can screenshots be sold as non-fungible tokens (NFT)?
Screenshots cannot be sold as NFTs, at least not legally or ethically.
What are some games that use non-fungible tokens (NFT)?
- Axie Infinity
- Gods Unchained
- Decentraland
- The Sandbox
What is NFT token-gated membership management?
NFT token-gated membership management grants exclusive access to certain online content or services based on the ownership of a specific NFT or a type of NFT.
Can I mint the same NFT twice?
You cannot mint the same NFT twice, at least not legally or ethically.
Can NFT be used for virtual games?
Yes, NFTs can be used for virtual games.
How do I make my NFT collection successful?
Creating a successful NFT collection involves various factors, from concept and creation to marketing and community engagement.
Here’s a step-by-step guide on how to make your NFT collection successful:
Define Your Niche and Concept
Create High-Quality Art or Content
Build an Online Presence
Leverage Community Engagement
Collaborate with Influencers
Offer Utility or Benefits
Document the creation process
Market Your Collection
Manage Scarcity and Rarity
Build a community
Adapt and Evolve
Legal and Ethical Considerations
Create a Long-Term Vision
PS: This is not financial advice. This article was produced to educate people. Kindly consult your financial advisor before making any investment.