The non-expendable tokens are the leaders of the current digital revolution. They have used a wide range of development methodologies to catch up. NFTs are unique digital assets that are based on blockchain technology and cannot be exchanged or replicated in any way. These digital tokens represent assets such as images, domain names, business cards, videos, artwork, etc. These unique digital tokens are traded on a platform called the NFT marketplace. Read on and find out what are the top 10 NFT markets to buy and sell NFTs.
What is an NFT market?
Just like other physical markets, the NFT market is also a market, and the only difference is that it is a digital market. By using NFT crypto, anyone can buy or sell digital assets or NFT tokens. This market is also used to store, display or display exchanges and create NFT tokens or any digital assets. NFTs are virtual or digital tokens of works of art, games, soundtracks or any artistic creation, with their ownership information and authenticity. These tokens or digital assets can be bought or sold on the NFT market.
NFT cryptocurrencies are the cryptocurrencies used in the transaction of buying and selling digital assets. NFT markets are the backbone of non-fungible token trading. The NFT market makes money for itself by imposing transaction fees on users. Each NFT market has a unique set of rules and regulations for transaction fees. Thus, analyzing the volume of platform users, the transaction fee varies. The transaction fee is the main monetization method for NFT markets.
Top 10 NFT Markets to Buy and Sell NFTs
O OpenSea is so far one of the leading NFT marketplaces in the world. This is perfectly measured by the trading volume of the NFT market. The platform allows users to mint, buy and sell a wide range of NFTs. These digital tokens include digital collectibles, digital art, trading cards, virtual worlds, and more. This marketplace is built on the Ethereum blockchain and is now collaborating with the Polygon network to minimize gas fees.
With the help of OpenSea, users can gain access to over 700 NFT projects with a staggering 80 million NFTs ready to trade. The OpenSea platform allows users to mint and re-profile their vendors using a single infrastructure. In this way, the transaction fee is only 2.5% for each sale made on the market. Currently, the OpenSea platform has more than 600,000 2022 users in XNUMX alone. Therefore, it is one of the top NFT marketplaces on the market.
Super rare is an NFT market based on the Ethereum blockchain. This is a unique NFT marketplace that only deals with a select number of NFT artists. This market is the pioneer of NFT’s unique works of art with the aim of preserving them in the name of art collection culture.
The SuperRare platform is one of the best NFT marketplaces in the digital space. This marketplace platform has a very particular verification and approval mechanism before digital art can be put up for sale. SuperRare is fueled by creativity among creators and ensures collectors get the very best from the NFT collection. This marketplace is not similar to OpenSea as it is an exclusive platform, the transaction fee is around 15% on primary sales.
One of the largest NFT marketplaces on Ethereum, Rare is a community-owned platform that showcases various digital artwork and collectibles. Just like OpenSea, you can buy and sell all kinds of works of art that are displayed on the market.
Sellers can also create more than one NFT for art and sell it more than once. Rarible’s interface is quite simple and easy to use for novice users of the NFT market. Users who have tried to transact through a similar NFT marketplace such as OpenSea will also find it easy to learn. How to buy and sell NFT through Rarible, you can use various cryptocurrency wallets like MetaMask, Coinbase Wallet, MyEtherWallet or any mobile wallet that uses WalletConnect.
Binance NFT Market
Binance NFT Market is a platform that allows users to trade and create non-fungible tokens. You can create your own NFTs on Binance Smart Chain or Ethereum and even transfer between the two blockchains. However, the platform is not just for creators. Collectors can buy NFTs on the market for a fixed price or through auctions. When you sell a collectible on the market, the creator receives a 1% royalty payment.
Binance also processes these royalties for creators who created their NFTs on other platforms. Users who transfer their NFTs to the platform also receive 1% royalties every time their NFTs are sold. The strength of the platform is its ability to attract a wide range of users because it was created by a top-tier cryptocurrency exchange called Binance. Therefore, artists, creators, cryptocurrency lovers, and avid art collectors enter the platform to trade and create NFTs.
A premier NFT art marketplace, colloquially known as the Nifties, the Nifty Gateway was founded with a mission to make them accessible to all. By partnering with major artists and brands, the platform offers limited edition Nifties in drops that occur every three weeks. Limited edition works are available for a limited time only on this NFT art site.
After the initial release of a set is closed or sold out, you will only be able to get Nifties from that set on the market. Here you can find works by famous artists and musicians like Steve Aoki, deadmau5, Grimes, Kenny Scharf and Beeple. Anyone can sign up to create with the platform. The tokens you buy here will appear on your profile and you can withdraw them to your wallet or an external account. At the same time, you can also import nifties from external wallets to your Nifty Gateway account.
A marketplace for discovering and buying NFTs, the MakersPlace empowers digital creators like artists, photographers, writers, and more with the tools to protect and sell them to their fans and collectors. Open to all, they seek to offer a service that simplifies blockchain technology and brings its benefits to all creators.
Seeing firsthand the inequality in the immense value created by digital creators and what they actually do, the team behind the platform founded it to change that. For each sale, the platform earns a 15% share of the value of the sale, while offering creators a 10% royalty as a commission each time their art is resold on their platform.
A marketplace for digital art, the NFT Showroom is powered by Hive, a fast and free blockchain that makes creating and collecting rare digital art simple and accessible. Open to all and welcoming all artistic styles and experience levels, they claim to be easy to use and an affordable alternative for creators and collectors.
All you need to start creating and collecting is to create a Hive account and a Hive key. To tokenize and purchase NFTs, the platform uses a pegged token called SWAP.HIVE. The platform also offers creators two options for creating tokens: private and limited replay rights. NFT Showroom takes a 10% commission when you first sell your art, while for secondary sales it takes a 5% commission and gives 5% back to the original artist.
The first completely decentralized virtual world where users can create and earn money with the things they build and own, Decente’s mission is to hand over control to the people who create and play in this virtual space. Using DAO, Decentralized Autonomous Organization, allows the community to propose and vote on policy updates, future LAND auctions, whitelisting NFT contracts to be allowed within World, Builder and Marketplace.
Decentraland’s NFT art market offers a variety of digital assets, such as wearable devices, packages, properties, and names. You can buy and sell virtual land on Decentraland and customize it using properties built on it and the assets you own will be stored in an Ethereum based smart contract.
While other NFT marketplaces are art-focused in that pieces come from established or emerging artists and creatives, the Axie Marketplace is specific in that it offers Axies. These fierce and adorable animals come from a game universe where you can play with an Axie NFT. Over time, as with any game, experiences are built and Axies can be used to earn cryptocurrency.
While Axies may resemble Pokemon, Tamagotchi, or some animal crossing, the difference is that players control the game’s resource markets, creating a real player-owned economy. To start playing and earning with Axies, you need to have a digital wallet, some ETH and you are good to go.
Printable is a platform built on top of Ethereum that can quickly transform digital content such as JPEG, PNG, MP4, PDF and other formats into digital items on the blockchain. The NFT marketplace allows users to create, distribute, buy, sell, and trade digital files on the blockchain.
To participate in the community, users must create a profile, fill in the details that describe their item, and leverage the Ethereum blockchain to bring their digital item to the world. After purchase, the item will be stored in the owner’s digital wallet and illustrated with a preview image. Some elements may contain content visible only to owners.
In addition to providing a place to buy NFTs, Mintable also has specialized sections dedicated to educating and expanding the Mintable community. Mintable Academy teaches users how to buy/sell digital items and get paid for digital collectibles, while Mintable Pro services provide advertising support and advertising campaigns to sellers.
Choosing a specific market for your NFT entirely depends on the type of NFT you wish to buy or sell. It is worth mentioning again that not all markets are the same. Some markets are more specific and niche for a specific type of NFT or even a video game, while others cater to a more complete range of collectibles. Ultimately, the best NFT marketplace is one that verifies your needs and priorities.
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life’s biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.