If you have been following our blog, you know we are 4rtian Pride, and we are here to guide you through the NFTs realm. As you are already aware, 2021 has been a crazy year – we witnessed one of the worst pandemics ever. Fortunately, we are recovering from that. But the other major thing that happened this year was the explosion of the NFT market. People who still call it a fad would be disappointed to know that significant investments firms, including Mark Cuban’s, have also started pouring into NFTs. As we said, it is here to stay. If you are ready to invest in NFTs, you should know about the best NFT marketplaces. As the name suggests, these marketplaces are online repositories, mostly built on Ethereum Blockchain or some other one, containing different kinds of NFTs. Keep reading to find out which marketplace would best fit your needs.
Before talking about best NFT marketplaces, you should know a few things. Most NFT marketplaces support cryptocurrency that means when a creator sets the price of digital assets in crypto, such as Eth, after minting their NFTs. Therefore, when collectors visit a marketplace, their digital wallets should contain such currency. You can check out our guide on how to buy an NFT. We have covered the steps such as creating a crypto wallet and then connecting it with an NFT platform or marketplace.
Although we have covered this in detail, you should know that these marketplaces conduct NFT sales in two ways. The price of Non-Fungible Tokens (NFTs) can either be fixed, or the creator can be selling it through an auction. Moreover, the artist can either have the auction for a limited time or without any limit. For instance, in the unlimited auction, the artist can stop the Non-Fungible Token sales at any time. Whereas in the limited auction, the artist sets a time when the bidding will end.
OpenSea is very aptly named, as it is currently the largest NFT marketplace with a total trade volume of more than $4 billion as of October 2021. Also, it was the first-ever NFT marketplace, which adds to its authenticity and credibility. Creating an account on OpenSea is intuitive enough for beginners. And the best part, as the name suggests, is that it holds all kinds of NFTs ranging from digital art to music and even virtual worlds. It also allows buying with several tokens and blockchains.
As mentioned, you can connect the wallet with a marketplace. Then, buy the NFT tokens of the assets using that currency.
SuperRare is among those best NFT marketplaces having a simple and intuitive interface. Surprisingly, SuperRare has a social media or an online magazine feel to its interface. And coincidentally, one of the best NFTs sold on this platform was a Time Magazine cover which fetched $300,000 (126.5 Eth). Just like OpenSea, it is also a peer-to-peer marketplace that enables you to buy or sell NFT art at either a fixed token price or auction.
Based on the Ethereum blockchain, Rarible is now a community governed NFT marketplace. Like other best NFT marketplaces, it is easy enough to use for newcomers. You can easily find the hot digital art collections and live auctions on the platform. And just like OpenSea, Rarible holds a variety of NFTs, ranging from digital art to memes. Also, Rarible supports digital art creators that means it will allow you to mint your own NFTs.
Since its launch in February 2021, Foundation has hosted numerous popular NFTs, including the sensational meme, Nyan Cat (300.00 ETH), and Edward Snowden’s first NFT (200 ETH). Moreover, Foundation calls itself a creative playground not just for buyers but also for digital art creators. Buyers can easily browse their collections, and the platform often invites the creators. Like other best NFT marketplaces, Foundation operates on Ethereum, and if you already have a crypto wallet such as metamask, you can easily set up an account on the platform.
Axie Marketplace has a special spot among the list of best NFT marketplaces. Unlike others, it is based on a videogame named Axie Infinity. Quite surprisingly, it is inspired by Pokémon – You have to collect Axies (Cute and Mythical Pets) which are sold on Axie Marketplace. You can use these Axie to fight other players in the game to earn rewards. Moreover, you can also sell virtual land plots in the Axie marketplace.
NBA Top Shot is one of the most unique and successful NFT marketplaces. The reason behind its soaring success is that DapperLabs made it quite easy for a beginner to use. And not only that, it is officially licensed by NBA. NBA Top Shot Marketplace has given another stream for collectors. Fans can now own the best moments of a game. Additionally, you buy highlights, player stats, and even scores on the marketplace.
Nifty Gateway, backed by Gemini Exchange, is counted among the best NFT marketplaces as it has hosted NFTs by widely popular artists including Beeple, Grimes, and some brands as well such as Playboy and Forbes. The NFTs on this platform are called Nifites, and the unique part about them is that they can be sold or bought using fiat currency as well (US dollars). Of course, you can use crypto, but if you wanted to use your dollars directly, you have that option as well.
As the name suggests, the Solana coin is at the back of the Solanart marketplace. Even though it is in beta at the time of writing, it shows promise. The neatest part is that the transaction gas fee is low, and you can mint your NFTs in just a few seconds.
Larva Labs has been in the news for its famous NFTs project named CryptoPunks. As the name sounds, it included 10,000 digitally generated pixelated punks, which were originally given away for free. However, now they are worth millions of dollars. Larva Labs has some other noteworthy projects going on as well. However, if you want to buy a CryptoPunk, you would have to bid on a pre-owned one.
Sandbox is one of the most innovative blockchain marketplaces. Just like Axie Infinity, Sandbox is also a game. And the craziest part is that users can buy anything in the game. The assets of each creator are visible to all, and anybody can buy that using Sand tokens.
You can not only buy but sell Non-Fungible Tokens on these platforms as well. Moreover, you do not have to be an artist to upload your digital work on a marketplace. You can buy an NFT, and sell it again after some time on the same platforms. However, every transaction occurring on blockchains, including Ethereum, has a price. This price is known as gas fees. And gas fees are apart from the sales price of NFTs.
Most of the marketplaces mentioned above including OpenSea, Rarible, Axie, and Foundation are present on the Ethereum blockchain. That is why most artists use Eth as the common crypto to buy and sell NFTs. However, some other blockchains are also present.
These are just a few of all the NFT marketplaces that are currently operating globally. However, the ones we have listed are among the best NFT marketplaces, not just because their platform is good but because they hosted some widely popular digital artists on their platforms. Therefore, make sure that you are not only buying from a credible platform but a credible digital artist as well.
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