NFT marketplaces hold a unique position in the blockchain game ecosystem. They are seen as the future of digital asset trading. But what are these NFT marketplaces? This article will expatiate on everything you need to know about an NFT marketplace, including the best NFT marketplace platforms in the market.
What is an NFT marketplace?
NFT marketplace is an online site that allows users to sell, buy and exchange NFTs. NFT marketplaces are the main form of circulation of non-fungible tokens. They are similar to online marketplaces like Amazon or eBay, but they have unique features.
NFT exchanges can be decentralized, or centralized platforms (DEX or CEX) using different types of blockchain networks. For example, the Ethereum blockchain network is the most common type used by NFT marketplaces today, but platforms are based on other blockchains such as Tezos, Binance Smart Chain, EOS, etc.
How to Choose an NFT Marketplace?
Where you sell your NFTs is as important as what you sell. Knowing the right marketplace can make all the difference between a successful sale and be lost in the noise.
Here are seven major points to consider when selecting an NFT marketplace:
- Make sure they accept your type of art. Some NFT marketplaces specialize in video, others in photography or music. Before you invest any time planning your campaign, make sure the marketplace accepts your type of NFT — and that it’s the type of NFT people want to buy.
- Look for a robust blockchain-based platform. There may be places online where you could sell your NFTs without a blockchain, but those markets are not accessible to crypto enthusiasts and collectors who want to use cryptocurrency to purchase your work.
- Consider fees and commissions. Many marketplaces charge fees when you list works, and nearly all take a percentage of each sale as their commission. Compare these fees across multiple platforms before deciding where to list your work — but don’t choose based on only the costs. Commission percentages can vary widely, ranging from 10.
Best NFT Marketplaces
Many NFTs platforms allow you to mint and sell digital art, music, video, tickets, and other digital collectibles. You can also buy digital goods from other users on the platform.
Here are the best NFT marketplaces to buy or sell digital art.
OpenSea is the best choice for artists who have already established themselves and are looking to take the next step by selling their art as NFTs. Artists must apply to OpenSea to become verified sellers, and the platform can be strict about quality control.
OpenSea takes a streamlined approach to sell NFTs, making it more accessible than other marketplaces. As a result, it’s a great place to buy and sell collectibles, artwork, in-game items, and much more.
OpenSea doesn’t charge buyers any fees, but sellers have a 3.5% fee. The platform also offers escrow services and mailing labels for physical goods.
Rarible is an NFT marketplace where you can mint, buy and sell your digital creations. The marketplace was established to provide creators the chance to make their own rules, monetize their work, and interact directly with fans.
Rarible has many non-fungible tokens (NFT) for sale, including art, music, and even memes. The platform launched in April 2020 with a small set of users but quickly grew to 250,000 registered users who have since minted some $20 million worth of NFTs.
Mintable is a solid, decentralized marketplace for creating and trading non-fungible tokens. Its user-friendly interface enables it to be an excellent place for beginners to sell digital assets. In addition, Mintable provides a wide range of collectibles and art, many unique and some from renowned artists.
But it has more than just art and collectibles; you can also create your own NFTs for as little as $1. That makes Mintable one of the most accessible platforms for starting your NFT collection or becoming an NFT creator yourself.
If you’re looking to buy and sell famous works that are trending on the market, you may find Mintable’s limited selection and minimal fees appropriate. However, suppose you’re interested in exploring the NFT scene, experiencing the creative process behind these digital assets, or even dipping your toe into creating them yourself. In that case, Mintable is a great platform to use.
Binance is one of the world’s largest cryptocurrency exchanges by trading volume, and in early 2021 it was at the forefront of the NFT market frenzy. The exchange launched its NFT marketplace on February 3, 2021, and a week later, Binance hosted an exclusive sale by
The exchange offers low fees to users who trade with its native token BNB. Binance levies a 0.1% fee on all trades conducted using BNB and a 20% discount when buying or selling its own NFTs.
Another advantage of purchasing NFTs on Binance is that its website has a built-in non-fungible token wallet which means you don’t need to download any additional software to manage your collection.
Foundation is a new, innovative concept that aims to revolutionize how we appreciate, collect and trade art. It’s a platform where users can experience and acquire original digital artworks from across the globe in an easy, transparent, secure, and decentralized manner.
Foundation provides an interactive gallery that allows people to enjoy various artworks for free and gives them the option to purchase or sell these works through FND Tokens. Users can buy or sell art pieces at their price if they are willing to pay the transaction fees.
When using Foundation, artists set the price of their work themselves and retain full ownership. In addition, the platform takes a 20% commission on all sales and has no listing fees or hidden costs.
6. Nifty Gateway
Nifty Gateway is an NFT marketplace and giveaway platform built on the Ethereum blockchain. The Nifty Gateway platform allows users to buy, sell, and give away NFTs for free. With a wide array of collectible, game-based, and utility crypto items, the Nifty Gateway community is one of the fastest-growing globally.
The most significant difference between Nifty Gateway and other platforms is that they offer free giveaways to users who own their signature utility token, $NIFTY. On top of this, all items are sold with instant delivery. This means no auctions or waiting around to see if your bid was successful.
SuperRare is a digital marketplace for crypto art. It connects collectors, artists, and galleries/auction houses to buy, sell, discover, and explore high-quality works of rare digital art. Each artwork is unique and authenticated on the blockchain, with an immutable certificate of authenticity that proves ownership and provenance.
SuperRare is a sister site to Rarible, which focuses on creating NFTs SuperRare curates the very best work on Rarible and makes them available for purchase.
Raible was founded by Alexander Salnikov in 2018 and has raised $2 million from investors, including Binance Labs, Polychain Capital, Kima Ventures, and more.
The NFT Marketplace is a new destination within the Crypto.com App, offering collectors and enthusiasts the opportunity to purchase, sell and store non-fungible tokens (NFTs) with zero transaction fees, with support for CRO staking to reduce fees for NFT purchases further.
With one of the largest users in the crypto space, more than 10 million users from over 180 countries worldwide are already using the Crypto.com App. The release of the NFT Marketplace will further expand this community, enabling users to collect their favorite NFTs and artists to reach a wider audience.
NFT Card Customization with hi
If you already own an NFT, you can now customize your hi Debit Card with your owned avatar – so you can take your NFT collection wherever you go.
Here are some highlights of the hi Debit Card:
- Spend Euros, Pounds, stablecoins, and other cryptos at any Mastercard merchant worldwide
- Up to 10% card spend reward
- Rebate on between 1-20 Digital Subscriptions
- Fund your card instantaneously via SEPA or FPS with Euros or British Pounds using a hi personal IBAN
- NFT customization for eligible cardholders to personalize the face of their card with an NFT avatar they verifiably own
OpenSea, launched in 2017, is the oldest and the largest NFT marketplace in existence. OpenSea has over 1 million users and more than 80 million types of NFTs available for trade.
You should buy NFTs from reputable and trustworthy NFT marketplaces, such as OpenSea, Mintable, Binance. DYOR before buying