An NFT marketplace is a platform that enables you to buy and sell non-fungible tokens, which are one-of-a-kind digital assets. The unique characteristic of NFTs is that they are all different in terms of their value and properties. For instance, if you exchange one bitcoin for another, you neither gain nor lose anything as all BTC tokens are identical. NFTs are the exact opposite.
The great thing about NFTs is that anyone can create their digital asset, anything from a unique meme to a rare piece of art. These NFTs can then be sold on marketplaces such as Opensea, Nifty Gateway, and Rarible.
Choosing the Right NFT Marketplace
From Opensea to Nifty and Rarible, there are many feature-packed NFT marketplaces that you can choose from. However, being a new user, it’s vital to understand all the essential factors you must consider when deciding what NFT marketplace to choose.
For starters, you should know that not all NFT exchanges use the same token standards. While the first non-fungible token on Ethereum was ERC-721, many other token standards such as ERC-1155 quickly followed suit.
ERC-721 are NFT tokens, which also means that every token is different in terms of value. You can regard a token as a collectable, taking into consideration its uniqueness and rare properties. This is essentially what propels the core foundations of non-fungible tokens. Even though there are many token standards, such as BEP-115 and BEP-721, most traders in the NFT marketplace go with ERC-721.
The sudden and consistent growth of NFT markets has also increased impersonators and scammers. This is one of the most important reasons you must select a marketplace that offers an airtight creator verification process. There has been an unfortunate string of incidents where creators fell prey to scammers who steal and mint their work and sell them for exorbitant amounts of money, completely fooling many NFT buyers.
You see, converting artworks, videos, and other digital properties into NFTs isn’t that hard – and you can tokenize them on the blockchain. Impersonators convert these assets into tokens without the knowledge of the buyer and sell them online. This is why you must select a platform that has an excellent verification process.
NFT marketplaces like Opensea have become a significant part of impelling NFT trends. These marketplaces have granted users unparalleled access and flexibility to buying and selling non-fungible tokens. Moreover, they have also mitigated common problems associated with revenue streams and transactions for creators. In light of this, here are the top NFT marketplaces you should consider:
There is no argument that Opensea is the largest NFT marketplace offering a diverse variety of non-fungible tokens, including s, virtual worlds, censorship-resistant domains, and art. These digital assets are set up on ERC721 and ERC1155 standards. You have the option to create your marketplace on the blockchain relying on the minting tool.
You can use the tool to create a whole collection of NFTs for free without writing any code. Moreover, if you are in the process of developing a smart contract for a unique digital item such as a game or collectable, you can add it to your Opensea marketplace.
Opensea is ideal for users interested in a marketplace that sells blockchain-based assets through a smart contract. Customer support is available online, while you can also get help from the documentation. One of the significant advantages of using Opensea is that it offers a wide range of integrations, including Ethereum, MetaMask, Arkane, Coinbase Wallet, Dapper, Mintbase, and more.
OpenSea is most suitable for collectors who have an interest in a wide variety of NFTs. It is also ideal for beginners who would love to learn more about digital collectables, and it is perfect for traders seeking to buy and sell different types of NFTs. The most common advantages of NFTs include; competitive commissions, security types that lead the industry, and a wide variety of NFT collectables.
Founded in 2018, Nifty Gateway is amongst the most trusted platforms for non-fungible tokens and a high-end marketplace for crypto assets. Moreover, it’d excite you to know that Nifty Gateway also collaborates with various top brands worldwide, including prominent athletes and top NFT creators. Some top-notch artists that use Nifty include Mad Dog Jones, Genies, 3LAU, and Justin Roiland (co-creator of Rick and Morty).
One of the best advantages of Nifty Gateway is the fact it primarily focuses on artwork aesthetics. Prominent artists make NFTs on the marketplace. This, in turn, means the NFTs have the potential of becoming high-value collectables. So, one of the biggest draws of this platform is that it excels in abstract art – offering a vast amount of unique collections.
Another reason why Nifty has become so popular is due to its exclusivity. The platform thoroughly vets all its NFT creators and artists and handpicks only the best to join the marketplace. Its unique selling point is its swank. When you become a part of Nifty, you’re becoming a part of the cream of the crop, and this is why Nifty is the best possible choice if you’re looking to buy an NFT for long-term investment.
Starting in 2020, Rarible is an open-source NFT platform where you can sell, buy, and mint your digital IPs. You can exchange your NFTs on Rarible using Ethereum. The marketplace has a specific emphasis on virtual collectables as well as art assets. One of the biggest reasons behind its blooming popularity is that it offers simplified NFT mining. This appeals to users without a background in coding. It essentially provides a minimal barrier to entry for creators who want to sell their NFTs.
Some of the best advantages of Rarible include:
-RARI regulation token
Rarible supports a variety of cryptocurrencies such as DAI, ETH, ATRI, WETH, etc. However, NFT creators are subject to a 2.5% fee on every sale. In addition, Rarible is also a trusted platform for royalties – which means artists and creators can share a percentage of profits from the secondary sale of their items.
Axie Marketplace is the online shop for Axie Infinity Video games. Axies refer to mythical creatures that can be easily bought, trained, then put up against opponents’ Axies to earn rewards. Through the Axie Marketplace, players can purchase new Axies, lands, and other items as NFTs to use during the game. Axie shards, which are Axie infinity tokens, are built on the Ethereum blockchain, and they can buy and sell them on several other marketplaces, including Coinbase Global.
Larva Labs Marketplace
Larva Labs is also another NFT marketplace. Larva Labs is also known as CryptoPunks, and this is because of its very successful CryptoPunks NFT Project. The CryptoPunks was first given for free in 2017, but some CryptoPunks have sold for millions of dollars since then. Larva Labs’ CryptoPunks NFTs are all now sold out, but they can still be bid on directly through the company’s in-built marketplace.
NBA Top Shot Marketplace
NBA Top Shot refers to the National Basketball Association and Women’s National Basketball Association’s investment in the NFT world. With its marketplace, the association has put together collectable moments and arts that you can now purchase from premier basketball leagues from all over the world. The NBA Top Shot Marketplace is a closed marketplace, but you can quickly sign up and directly buy from the Top Shot Marketplace website.
SupeRare has similar features to Rarible as it is also establishing a marketplace for digital creators. The site consists of art, videos, and 3D images, but collectors can now purchase artwork through Ethereum. Recently, SuperRare announced its token, SuperRare, based on the Ethereum blockchain. These tokens will help to discover and curate new talent for the marketplace. Just like Rarible, you can now buy and sell SuperRare NFTs on OpenSea.
Foundation is another marketplace designed as a simple way to bid on digital art. You make sales through Ethereum, and the marketplace has sold over $100 million of NFTs since 2021, when it launched in 2021. Artists get invites from the community, while all buyers need an Ethereum-funded crypto wallet to begin making procedures. For those seeking a quick and easy way to begin creating NFTs, Foundation is probably not the best choice, but they have a variety of artwork you can easily explore.
Mintable aims to be a marketplace, open just like OpenSea. Mark Cuban, the billionaire, backs up this marketplace. For you to buy and sell on Mintable, you will need Ethereum. The platform also encourages the minting of NFTs for different kinds of creators, ranging from photographers to musical artists who are seeking to sell their works as digital assets.
This is also a blockchain platform established to allow for the decentralized distribution of video and TV on the internet. Theta Drop is an NFT Marketplace that debuted in 2021 through the World Poker Tour’s digital collectables. The World Poker Tour was one of the very first adopters of ThetaTV, and they used the platform to stream their content.
Theta also makes use of its blockchain technology. To participate in the Theta Drop NFT Marketplace, you will need to purchase your Theta Token. It is also called Crypto Theta. Several crypto exchanges such as Binance support Theta.
Coinbase NFT Marketplace
Coinbase NFT is also a new marketplace for NFTs. At Coinbase, their primary mission is to boost economic freedom all over the world. They plan to do this by giving people access to be a part of the creator economy and also profit from their work. NFTs have a significant contribution to this goal, and NFT artists have already begun shaking the world of traditional art. More industries are beginning to recognize the overwhelming importance of NFTs and are now using them to unravel new levels of creativity and ownership. Coinbase NFT provides a new and more suitable marketplace with an even better user experience.
Coinbase NFT is a peer-to-peer marketplace that will make for easier minting, purchasing, discovering, and showcasing NFTs. Just like Coinbase helped millions access Bitcoin for the first time in a trusted and secure way, they will also make people easily access NFTs easily and securely. They will be doing this by making NFTs more accessible through user-friendly interfaces to ensure that the process is more straightforward and less complex.
Coinbase will also be adding social features to open up new avenues for discovering NFTs. They will also be creating a platform for the exponential growth of the creator community. Coinbase NFT will serve as a platform that empowers users’ imaginations through intuitive designs and a decentralized marketplace. For Coinbase, they are majorly focused on putting the art and the artist’s experience at the very fore.
A significant part of the experience Coinbase will be providing controls. They will be enabling artists to easily purchase NFTs and maintain creative control utilizing metadata transparency and decentralized contracts. The Coinbase marketplace is vibrant and secure, and it is undoubtedly a marketplace that will meet your needs.
If you seek the perfect place to sell your non-fungible tokens, the above marketplaces are excellent for you. They are secure, tested, and guaranteed. With a new trend like NFTs, one can get so caught up that you become confused or lost on what to do and what not to do. But these marketplaces, with the right experience and professional guidance, are sure to give you the satisfaction you desire.
Creating your own NFT marketplace has many benefits, but to develop a reliable, stable, and secure platform, you will need professional assistance. You should consult with different development agencies who have prior experience in creating custom NFT marketplaces. This will put you in a better position to identify the team of developers that fully understands your requirements and possesses the expertise and experience to deliver a reliable product.