NFTs can be bought and sold in a decentralized, international market at any given time. With the help of Ethereum blockchain technology, the ownership of an asset cannot be changed or removed from its owner.
There is no need for any intermediary to facilitate trading activities. Now, where does the trading of NFTs take place? That’s right! In the NFT marketplaces.
The marketplace for NFT is a decentralized platform that facilitates the trading and storage of Non-fungible Tokens. It provides an auction environment for digital crypto art, arts, and many other items that can be bought and sold by users.
If you want to get access to new and trending digital assets, you should actively participate in the NFT market. The origin of the NFT Marketplace was when users wanted it to work across different chains, like Ethereum and Tron. It was popularly known as a million-dollar revenue system.
One of the requirements of NFT marketplaces is that the users must have a crypto wallet to carry out their transactions. It gives the asset holder a sense of ownership and security that cannot be taken away, combined with easy, quick transactions.
We have curated an NFT marketplace list to help you get started with buying and selling them easily:
One of the most popular NFT marketplaces is OpenSea. This platform is a peer-to-peer market where you can trade games, music, and other pieces of art. It’s the world’s first, largest, and most efficient marketplaces for trading NFTs.
It's one of the best NFT marketplaces with all the resources! From high trading volumes to voluminous market capitalization. One interesting fact is that it includes ERC-1155 and ERC-721 tokens.
Another aspect that gives OpenSea an advantage over its competitors is that its mining tool is exceptional. With this mining feature, content creators and illustrators can create new digital art and illustrations and transform them into NFT collections.
It has now grown to become the only marketplace in this space to grow significantly - by more than $10 billion net worth as the recent survey shows.
You have to pay a 2.5% market fee for each sale in OpenSea.
Rarible is also a lucrative marketplace for NFTs. It has a very adaptable minting process. They also have an elegantly designed user interface, which makes it easy to interact with apps and trade without any difficulty.
You can find all sorts of art, videos, collectibles, and music on this platform. But unlike OpenSea, Rarible has its own token called RARI that you have to use if you want to trade on this NFT platform.
Rarible focuses especially on art assets and providing a robust service. It is a decentralized, community-driven platform, which will help you create amazing digital artwork which you can convert to NFT.
On this NFT marketplace, you will be charged a commission of 2.5% on each transaction, and the creator gets a royalty of 5-10%.
3. Binance NFT
The Binance NFT market is considered an emerging one with immense potential since it has a vast market share. All the digital assets on this platform are backed with the best blockchain technology of all time.
Binance NFT is a marketplace that offers varying choices on minting NFT and it's supported by EVM (Ethereum Virtual Machine) to make it compatible with different platforms. Therefore, if you're thinking about the future, then Binance's NFT is your best choice.
The Binance NFT Marketplace also offers assets via the Binance smart chain and Ethereum blockchain. This gives you access to assets from a variety of different blockchains, so you have an array of options.
This platform is committed to making its fees as low as possible, charging a 1% transaction fee for the users
Mintable is also one of the popular NFT marketplaces that enables users to buy, sell and trade NFTs. You will need Ethereum to participate in trades on this platform.
The platform provides extensive support to creators for minting digital assets like photos, digital artwork, music, etc. The blockchains that Mintable uses are Ziliqa, Ethereum, and Immutable X, thus you will have a wide range of assets to select from.
Mintable takes into account the way people buy their products. Payment can be made with ETH or by card transaction - credit or debit.
Are you an NFT enthusiast or an NFT creator? To get started with Mintable, you have to purchase Ethereum from a crypto exchange. After this, you have to connect the same to your Mintable wallet to start your NFT trading journey.
Mintable has a varied commission structure. You will be charged a 2.5% transaction fee on everyday items and 5% on gasless items.
5. Nifty Gateway
A few of the most popular NFT artists had successful sales on Nifty Gateway, for example, Beeple and Grimes! One of the reasons why Nifty Gateway has sky-high popularity is because it collaborates with top brands, content creators, artists, and athletes.
It's a digital art curation platform that is powered by the cryptocurrency exchange 'Gemini'. Within the app, you can collect and manage NFTs popularly known as 'Nifties' which are built on Ethereum.
Nifty Gateway is a safe platform to buy and sell NFTs, but it is important to remember that it is a custodial marketplace. This means that NFTs are stored on the platform itself and not in your wallet. There’s no requirement for transferring it from your crypto wallet just like how it operates on OpenSea.
You have to pay a 20% marketplace fee to get on Nifty Gateway.
SuperRare provides an NFT marketplace for digital creators. The platform includes artwork, videos, 3D images, and so many other digital assets. SuperRare is focused on facilitating the sale and purchase of unique, single edition digital assets or artwork.
You will be able to purchase such collections via the Ethereum cryptocurrency. Each of the digital artwork is secured by cryptography and registered on the blockchain.
Alongside the marketplace, SuperRare has created a social network for its users. Since digital collectibles hold a transparent ownership history and can be tracked easily, they're suitable for an interactive environment.
SuperRare charges a commission of 3% to the buyers and the artists get 10% as royalty.
To sum it up...
NFTs are tokens that represent ownership of digital assets and these assets are what you will be looking to buy, sell or create. There are lots of different kinds out there so before choosing a market, it's important to think about what kind of asset it is you want.
You can convert literally anything to digital format these days, be it written texts, videos, pictures, games, art, or collector's items. These digital assets can be tokenized on a blockchain for trading purposes.
So if you're looking for an opportunity in the NFT marketplace, try to narrow down your options to understand what you’re actually interested in. This will give you a good idea about the kind of NFT marketplaces that you should target.