If you want to join the NFT bandwagon, you have to opt for an NFT marketplace. It allows you to take part in the purchase and sale of digital assets, including art, music, and other virtual worlds. Basically, the NFT marketplace is the Amazon of the digital arena.
There are many NFT marketplaces, and many focus on one niche. There are certain things you should keep in mind before you decide which one you should choose. Have a look at them and all that you must know.
Choosing An NFT Marketplace
First, you must remember that the NFT is just the ownership of the asset. Before you select an NFT marketplace, you have to decide which type of asset you wish to buy, sell or create.
Anything that is digital in nature, like videos, written word, video games, art collector’s items, maybe tokenized on the blockchain. So if you reduce yourself to a particular niche, it will be a good idea.
Apart from that, you have to see the tokens the marketplace supports. Some of them support many tokens. Other marketplaces are closed, and they use a specific token. When you open an NFT marketplace account, you have to fund the wallet with the correct crypto and token that you can use to take part in the site’s activity.
You will be asked to link the wallet to the marketplace once you open the account. Plus, you should check the security level that the marketplace offers and if it has faced any problems.
15 Top NFT Marketplaces
Here we mention some of the top 15 NFT marketplaces.
OpenSea is a leader in NFT sales. It has all sorts of digital assets that are available on the platform. You are free to sign up and go through all the offerings it shares. It is a support for the artists and creators. If you want to create your own NFT, you can do so through a process of minting.
This marketplace allows the use of 150 different payment tokens hence its name. If you want to start in the NFT world, OpenSea is a great place to begin with.
2. Axie Marketplace
The Axie marketplace is an online shop for the video game Axie Infinity. Axies are actually mythical creatures that you can buy and train and then compete against Axies of other players. You get rewards in return for that. On the Axie marketplace, players can choose to purchase new Axies and also entire lands as NFT’s.
The Axie infinity tokens are built-in Ethereum blockchain. They may be bought and sold on multiple NFT marketplaces and on crypto exchanges like Coinbase Global.
3. Larva Labs/CryptoPunks
Larva Labs is also known for its CryptoPunks NFT project. In the beginning, they were given for free in 2017. However, since then, they are now being sold for millions of dollars. Larva Labs is also working on other digital art projects like the Autoglyphs and some other Ethereum blockchain app development projects.
The CryptoPunks NFT are now sold out, but you can bid on them and buy from another third-party marketplace. Still, there are many Larva Labs projects that you can keep an eye on. This includes the Meebits that you can bid on directly from their built-in marketplace.
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4. NBA Top Shot Marketplace
NBA’s Top Shot, as the name suggests, is National Basketball Association and Women’s National Basketball Association’s entry into the NFT world. On the marketplace, you can buy video clips and play highlights from world-famous basketball leagues.
The NBA is a closed marketplace made using Flow Blockchain built by the Dapper Labs. You can sign up on it quickly on their marketplace website. The collectible moments are available for purchase for a moderate price.
Rarrible is another marketplace for multiple NFT’s similar to the OpenSea. You will be able to buy and create all sorts of videos, art, collectibles, and music. But unlike OpenSea, you will have to use their own token Rarible to be able to do so. The Rarible is built on the Ethereum blockchain, but their artwork could be managed on OpenSea using these tokens.
This company partners with many famous companies. Taco Bell and Yum! have already listed art on Rarible, while Adobe has partnered with them to secure NFT creator’s work.
Just like Rarible, SuperRare is creating a marketplace for digital creators. The site comprises of art, videos, and 3D images but the collectors have to use Ethereum for purchasing artwork.
They recently announced their own token of the same name. These will now be used to find and create new talent for that marketplace. Just like Rarible, the SuperRare NFT’s can be purchased and sold on OpenSea as well.
Foundation. App is a simple way that helps in bidding on digital art. Here the sales are made through Ethereum. The marketplace was launched at the beginning of 2021 and till now has sold more than $100 million worth of NFT’s.
Artists can be invited to this platform by the Foundation community, and the buyers should have a crypto wallet that is funded with Ethereum in order to make a purchase. If you want to start creating your NFT’s quickly, Foundation is not the right place. But this marketplace will have multiple artworks.
8. Nifty Gateway
Nifty Gateway helped in the sale of some major artists like Beeple and musician Grimes. In simple terms, this is an art curation platform that is powered by the exchange Gemini. The NFT’s or nifties are created on Ethereum.
Apart from being a curated platform, the Nifty Gateway hosts any NFT’s that are bought. This means that the NFT’s are not stored in your wallet but in Nifty Gateway and Gemini. This would not be suitable for the NFT collectors who want flexibility in the case of art investments. You can also make Nifty purchases and sales in any flat currency. It does not require you to make a crypto purchase first.
Mark Cuhan, a billionaire, backed Mintable, and he wishes to be an open marketplace just like Open Sea. In order to buy and sell NFT’s on Mintable, you will require Ethereum. The platform also allows the minting of NFT’s for all types of creators who want their work to be sold like a digital asset.
An NFT collector who wants to sell their art has to purchase Ethereum from an exchange. Then they have to connect the wallet to Mintable to help in the bidding and buying on Marketplace.
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10. Theta Drop
Theta is another blockchain platform that is built for the decentralized distribution of TV and video on the internet. Theta Drop was created in 2021 using World Poker Tour’s digital collectibles. This was because the World Poker Tour was the first few to adopt ThetaTV and can use the platform to stream any content.
Theta has its own blockchain technology. To take part in this marketplace, you have to buy Theta Token. Multiple crypto exchanges like Binance are supporters of Theta. The tokens that you purchase using them could be stored in the crypto wallet and in Theta’s own wallet app.
Decentraland is like a revolution to the virtual world technologies. Just the concept of making real things thrive on building a virtual community using NFT as the technical wrap changed the market altogether. Minting the NFT’s in this platform will lend a futuristic approach to cryptos.
12. Binance NFT
Binance NFT is the potential NFT market that can revolutionize things in the future. This platform gets backed with one of the best crypto networks. It offers the users multiple minting choices and also supports EVM to improve compatibility. So if you want to adopt a futuristic approach, you should go for Binance NFT.
13. Coinbase NFT
At present, Coinbase is the closest competitor to OpenSea. The source says that there are nearly 1.1 million users that were listed in the database.
As the collectibles increase in value, the marketplaces must control them so that they can respond to the requirements of future collectors and buyers. Coinbase NFT has understood the importance of connecting the NFT’s to society.
Decentralization and Web3 are what Zora takes care of. The NFT marketplace comprises of many historical transactions. This includes the dog meme NFT offered by PleasrDAO. The price of the same remained around $4 million.
This platform does not allow just the investors to do as they please, but it helps establish the artists’ trust. They have coined it because of the seamless autonomy they get for their creations.
Zora requires loads of improvements, but it can beat OpenSea in 2022 if it can make the changes that people want.
15. FTX NFT
For the Solana Fans, FTX is a good marketplace that you must go to when you want to grab the collectibles. The interesting thing about the site is its bidding system which other marketplaces do not offer.
Its President Brett Harrison expects that the people will be coming to them as they do not need any fees for the bids. The company is looking forward to some of the price actions that will happen on the implementation.
In October, the platform said that it would reject the projects, which give the owners a bonus when it comes to the royalties. 2022 is the best year for the site to modify how NFT is traded.
Investing In NFTs
The NFT marketplaces are a method using which you could buy digital assets and art. You must choose an asset that matches your buying and storage needs. Apart from that, you have to see what NFT you want to sell and the crypto you are looking for.
Also, you must know that the industry is new and prone to speculations. Some NFTs may shoot up in value, but there is no surety about it. The value of collectibles and digital art remains the same as physical art.
The value remains subjective and is affected by factors like uniqueness and the artist’s reputation. When you make a purchase, just think of your investment strategy, net worth, and the investment period you have thought of.