The Best NFT Marketplaces:
If you want to get in on the NFT frenzy, an NFT marketplace is your ticket to buying and selling digital goods ranging from art to music to entire virtual worlds. Consider NFT marketplaces to be the Amazon of the digital world.
There are dozens of NFT marketplaces, many of which cater to a specialized sector or niche. What should you look for in an NFT marketplace before picking which one to utilize, and which are the best NFT marketplaces? Here’s everything you need to know about it.
The top ten NFT marketplaces
Here are some of the most popular NFT exchanges right now.
In terms of NFTsales, OpenSea is the market leader. OpenSea has a wide range of digital materials available on its platform, and signing up and browsing the broad choices is completely free. It also helps artists and creators, and it provides a simple approach for creating your own NFT (known as “minting”).
The platform’s moniker is fitting because it supports over 150 different payment tokens. OpenSea is a wonderful place to start if you’re new to the NFT realm.
2. Axie Marketplace’
Axie Marketplace is the online store for Axie Infinity, a video game. Axis are legendary animals that can be purchased and trained before being battled against the Axis of other players for rewards. Players can purchase new Axis, as well as entire lands and other items, as NFTs for use in the game on the Axie Marketplace.
The Ethereum network is used to create Axie Infinity tokens (also known as Axie Shards). As a result, they’re available for purchase and sale on a number of additional NFT markets, as well as other cryptocurrency exchanges like Coinbase Global (NASDAQ: COIN).
Read more: How To Invest In Defi Coinbase
3. Larva Labs/CryptoPunks
Larva Labs is primarily known for the CryptoPunks NFT project, which went viral. CryptoPunks were originally handed away for free in 2017, but some have since sold for millions of dollars. Larva Labs is working on a number of additional digital art projects, including Autoglyphs and other Ethereum blockchain-based app development initiatives.
The CryptoPunks NFTs from Larva Labs are sold out, however, they can be bid on and purchased on a variety of third-party marketplaces. Nonetheless, Larva Labs’ numerous projects are worth following, particularly the Meebits, which can be purchased directly through the company’s built-in marketplace.
4. NBA Top Shot Marketplace
The National Basketball Association and the Women’s National Basketball Association have entered the NFT realm with NBA Top Shot. Collectible moments (video clips and play highlights) and art from the world’s top basketball leagues may be acquired on its marketplace.
Using Dapper Labs’ Flow blockchain, the NBA created it as a closed marketplace (you can only purchase and sell on Top Shot). Signing up and purchasing directly from the Top Shot marketplace website is simple. You may buy collectible moments for as low as a few dollars.
Rarible, like OpenSea, is a big marketplace for all kinds of NFTs. On the site, you can buy, sell, or create all kinds of art, movies, collectibles, and music. However, unlike OpenSea, you’ll have to purchase and sell using the marketplace’s own token, Rarible (CRYPTO: RARI). The Ethereum blockchain underpins Rarible (although artwork can be managed on OpenSea as well using Rarible tokens).
The company has teamed up with a number of well-known businesses. Taco Bell (NYSE: YUM) has listed art on Rarible, and Adobe (NASDAQ: ADBE), a cloud software giant, recently joined with Rarible to help secure NFT artists and creators work.
super rare, like Rarible, is creating a marketplace for digital producers. Collectors can purchase artwork using Ethereum on the site, which includes art, films, and 3D imagery.
super rare just announced the launch of its own Ethereum-based currency with the same name. The tokens will be used to discover and curate fresh talent for the platform. super rare NFTs, like Rarible, can be bought and sold on OpenSea.
Foundation.app was created as a straightforward, no-frills method of bidding on digital art. Ethereum is used to make sales. Since its inception in early 2021, the marketplace has sold over $100 million in NFTs.
The Foundation community invites artists to join the platform, and buyers only need an Ethereum-funded crypto wallet to get started. Foundation isn’t the ideal place to start if you’re looking for a quick and easy way to start making your own NFTs, but the marketplace offers plenty of artwork that can be seen in a basic fashion.
8. Nifty Gateway
Nifty Gateway has helped some of the most well-known digital artists, including Beeple and singer/musician Grimes, sell their music. It’s a cryptocurrency exchange-backed art curation platform (controlled by the Winklevoss twins). The NFTs, sometimes known as Nifties, are Ethereum-based.
Nifty Gateway, in addition to being a curated platform, also hosts any NFTs acquired, which means the NFTs aren’t stored in your wallet but rather by Nifty Gateway and Gemini. While this may not suit NFT collectors who like more flexibility in their art investments, Nifty purchases and sales can also be made in fiat currency (e.g., US dollars) without first purchasing cryptocurrency.
Mintable, which is funded by billionaire Mark Cuban, aspires to create a similar open marketplace like OpenSea. You’ll need Ethereum to participate in purchasing and selling NFTs on Mintable. The platform also allows creators of all kinds (from photographers to musicians) to mint NFTs in order to market their work as digital assets.
An ambitious NFT collector or creator must first purchase Ethereum on a crypto exchange, then connect their wallet to Mintable to participate in the marketplace’s bidding and buying.
10. Theta Drop
Theta is a blockchain platform for decentralized video and television distribution on the internet. Theta Drop, a new NFT store, debuted in 2021 with digital artifacts from the World Poker Tour. The World Poker Tour was an early adopter of ThetaTV and now streams programming on the network.
Theta’s proprietary blockchain technology is used. You’ll need to buy Theta Token to participate in the Theta Drop NFT marketplace (CRYPTO: THETA). Theta is supported by a number of crypto exchanges, including Binance, and the tokens and NFTs purchased with them can be saved in a crypto wallet or in Theta’s own crypto wallet software.
Tips for choosing an NFT marketplace
To begin, keep in mind that an NFT (non-fungible token) merely symbolizes asset ownership. Before you choose an NFT marketplace, you’ll need to figure out what kind of digital asset you wish to purchase, sell, or create. The written word, videos, video games, art, collectibles, and so on may all be tokenized on a blockchain (such as Ethereum (CRYPTO: ETH), the most prevalent blockchain network on which NFTs are built), so narrowing down your interests is a smart place to start.
Another factor to examine is the type of tokens that a marketplace supports. Some exchanges accept a wide range of tokens. Others are closed exchanges that use a unique proprietary token. When creating an account on the NFT marketplace, make sure to fund your blockchain wallet with the appropriate coin or token to engage in the site’s activities. Once you’ve created an account, you’ll be invited to link your wallet to the NFT marketplace. Check to discover what kind of security the marketplace has in place, as well as if it has ever had any problems.
Investing in NFTs
NFT marketplaces are a good place to start if you want to invest in digital assets, collectibles, or art, but there are plenty of other choices. Depending on the sort of NFT you want and the crypto you want to use for transactions, make sure you pick one that meets your buying and storage demands.
Also, keep in mind that this is a brand-new industry with a high level of risk. There’s a chance that some NFTs will skyrocket in value, but there’s no assurance. Digital art and collectibles have the same subjective value as real art and collectibles: value is decided by criteria such as uniqueness and the reputation of the artist who created it. Consider your overall investment strategy, net worth, and investing time horizon when making a purchase, if any.
Read more: How to Sell An NFT(Non-Fungible Tokens)