Best NFT Marketplaces You Should Check Out
It’s no secret that NFTs are becoming more popular than DeFi in recent years. Whether you’re a business owner or a freelancer looking to mint your own tokens, you may wonder where to begin. We’ll introduce you to the six best NFT marketplaces available right now in this comprehensive guide. Once you’ve completed this guide, you’ll be able to start exploring NFT platforms.
So without further ado, let’s get started!
NFTs: What are They?
Non-fungible tokens (NFTs) give you ownership of artwork, music, videos and other online collectibles. These digital assets are based on blockchains, a technology that underlies cryptocurrencies like Bitcoin. NFTs are widely regarded as the fuel that powers Web3.0, creating a perfect storm that saw children’s animated gifs sell for millions.
Creating NFTs and Selling Them
The process of creating NFTs is called minting: it involves creating a smart contract token and recording it on the blockchain. NFTs cannot be altered once they have been minted, but they can be bought or sold. Due to this, NFTs are great for representing ownership of any asset, including digital assets.
By using NFTs, creatives can get fair compensation for their work. Each time an NFT is sold, there is usually a royalty fee that generates income for the author without a middleman taking a larger share of the sale.
NFTs can also be used for marketing, loyalty rewards, and many other purposes by businesses. In order to make any of this possible, you’ll need a platform that can make minting, promoting, and selling your coins easy. This is where NFT marketplaces come into play.
NFT Marketplaces – What are They, and How Do You Choose One?
NFT marketplaces are websites or apps that allow people to create, buy, and sell NFTs. These platforms allow you to purchase digital assets, services, and products. Additionally, the best ones offer easy-to-use tools so that anyone can create and sell tokens, regardless of their level of technical expertise.
Best NFT Marketplaces
Below we have compiled a list of the best and most interesting NFT marketplaces. Whether you’re interested in buying or selling NFTs, one of these marketplaces should fit your needs.
The OpenSea marketplace is one of the most popular and oldest NFT marketplaces. When it comes to trading volume, this is the largest marketplace in the world. With over one million users since its launch, OpenSea was the first platform to bring NFT trading to the mainstream.
On the Ethereum blockchain, the marketplace offers a variety of NFT types, such as art, domain names, in-game items, and more. One of OpenSea’s best features is that the platform supports over 150 cryptocurrencies as a payment method. OpenSea’s item minting tool allows creators to create their own items on the blockchain. Using it, you can create collections and NFTs without writing a single line of code.
The OpenSea platform is non-exclusive. It means there is no review process; you can mint your NFT and sell it right away. If you want an introduction to NFTs, OpenSea is a good place to start.
Crypto.com is another great option when it comes to purchasing NFTs. With over ten million users, this NFT marketplace is one of the top cryptocurrency exchanges worldwide. Crypto.com recently launched its own NFT marketplace on top of its popular crypto-trading services. Founded in 2021, the marketplace offers NFTs from a variety of categories, including art, celebrities, gaming, sports, music, and of course crypto.
Among the largest cryptocurrency exchanges, Binance has added an NFT marketplace in 2021. In addition to the international crypto exchange, many other industry players are entering the NFT sector, including Crypto.com NFT, which describes itself as a highly-curated NFP marketplace.
On Binance NFT, you can purchase artwork, gaming items, and collectibles just like on other major platforms.
Low fees are a major advantage of Binance NFT. Only 1% of the trades are deducted from the platform fee. The platform is also user-friendly, using a similar layout and technology to their exchange.
Besides running on its own blockchain, Binance is a large player in the crypto space.
With Rarible, you can buy and sell art, collectibles, video games, and NFTs. Rarible supports Ethereum, Flow, and Tezos for buying and selling.
Every transaction on Rareible is charged a flat fee of 2.5% plus any gas charges. You can buy NFTs with a credit card, allowing fiat currency transactions.
Rarible has created its own native token called RARI rather than having in-house management decide everything. Owners of RARI can vote on company decisions, such as policy changes.
Those who want access to a large network with solid connections might find Rarible to be the best NFT marketplace. While maintaining a decentralized mindset, it also uses a shared database.
5. Nifty Gateway
One of the biggest NFT marketplaces (opens in new tab) is Nifty Gateway. Nifty Gateway specializes in NFT releases with limited assets, which are known as ‘premium’ drops. Many famous artists and creatives have dropped tracks on the platform, including Steve Aoki and Grimes in the past. Nifty Gateway’s selection of NFTs is tailored more toward high-end investors due to the high demand for these NFTs.
In the NFT ecosystem, SuperRare positions itself as an art gallery with a high-end art market. There are no “meme style” NFTs accepted on this marketplace, and submissions are highly selective.
Investing in SuperRare gives investors the opportunity to feel more confident in the quality of the work since the company spends so much time reviewing it before it’s available for purchase. Whenever an NFT is sold on the secondary market for the first time, SuperRate charges a 15% fee. In addition, the buyer pays a flat fee of 3% on every transaction.
If you’re looking for classically styled NFT artwork, SuperRare might be a good choice.
It’s only been a few years since NFTs were invented, but they are gaining a lot of traction in the industry. Both buyers and creators have the best options available on NFT marketplaces. These platforms give you access to a wide audience if you publish your digital art or music on NFT marketplaces like Mint Songs or Published NFT.
Meanwhile, if you’re looking to create your own NFT marketplace, Renesis is a great option. Give us a few details about your project and we’ll assemble your world-class blockchain development team.