As the NFT marketplace continues to evolve, owners have more options for displaying and gifting their collectibles.
Owners can give their non-fungible tokens to someone else as a new utility called the “send-as-a-gift” feature. If you own an NFT, you can gift the blockchain crypto art to your friends and family.
Table of Contents
Making an NFT a Gift
If you want to give an NFT as a gift, you must choose the digital art piece first. Your recipient must have a digital wallet that can hold the digital assets. You also have to have access to their profiles so you can add items into their collectibles folder. Gifting NFTs involves a few more steps than sending a gift the traditional way.
To gift the NFT, you have to own it yourself, after you’ve purchased it using Ethereum or another cryptocurrency, like Bitcoin. Your recipient does not need to spend any Ethereum to receive the gift, but they should have an Ethereum address so you can give them the gift.
Once you know their Ethereum address and Metamask wallet address, you should be able to transfer the gift into their NFT collections. Before you finalize the transaction, be sure you have the correct address. Otherwise, the gift might end up in an unknown location, and you’ll never get it back.
Artist Control
Not every NFT will be giftable. If artists place limits on their works, they don’t become trade pieces in video games or other NFT spaces.
Artists can add programs to their digital pieces to earn more money each time it changes hands. Since all NFT gifts require gas fees, the artist could receive a small percentage through the Ethereum network.
Places to Gift NFTs
As long as your recipient has an NFT wallet, you can gift NFTs from several locations. With a tiny bit of Ethereum currency to cover the gas fees, you can give digital art through an OpenSea account, through social media like LinkedIn, or through other private NFT collections. Your friends can also gift NFT to you through your Ethereum blockchain account.
The challenge comes with gifting your first NFT, as the process usually takes longer than most people anticipate. Once you’ve given one NFT, the rest of them are easy, as long as you have the necessary information from your recipient.
A fun spot to gift NFTs is at sites like Topps, where NFT owners can buy, trade, and gift digital baseball cards. Digitally trading and gifting baseball cards lets modern baseball fans get a glimpse of what their parents and grandparents did in the golden age of baseball cards. NFT
collectors with baseball cards can trade entire packs or individual gift cards.
Watch for Hackers
Before you begin trading and gifting NFTs, make sure the site you’re using is secure. Because the value of an NFT lies in its uniqueness and the digital contract, hackers work hard to gain access to digital wallets in popular NFT sites.
Gifting NFTs can make your account vulnerable for a brief moment. Before you open your account and a hacker gains access to it, check the status of your NFT website to be sure your account is protected.
Wrap Up
Gifting NFTs creates new opportunities for collectors to exchange items with friends and family. It also gives you new ideas for gifts for your friends and family who value digital art.
Be prepared to pay a small gas fee when you give an NFT, and always be aware of the safety status of the site you use for transactions.