In the ever-changing land of crypto, NFTs have become a lot popular. This industry that started selling digital art expanded into a profitable domain with a market size of nearly $27 billion in 2023. The NFT marketplaces enable buying, selling, or trading of NFT. Here are some of the best NFT marketplaces where you can find all genres of NFTs from various artists.
What Is An NFT Marketplace?
An NFT marketplace is a platform where artists and collectors buy, sell, list, and mint NFTs. There are different kinds of NFT marketplaces. The Mass NFT marketplace holds many different types of NFT catering to the needs of different users. Niche NFT marketplaces focus on curated artworks, music, and digital NFTs from famous artists. There are also NFT marketplaces that focus on specific types of NFTs.
Each NFT platform has its own set of fee standards that need to be paid when the NFT is bought. Before you list or buy NFTs in a marketplace, check the type of NFTs available, payment opinions, blockchain compatibility, and other rules.
Best NFT Marketplaces
1. Blur:
Blur, which was launched in 2022, has gained much traction within a short period and has a market cap of over $38 billion. Blur offers two different modes. One is the Collector mode, which is user-friendly for buyers, and the other is the Trader mode, which provides access to charts, tools, and advanced analytical data.
It was built solely for the Ethereum-based NFTs and has become one of the largest NFT websites by trading volume. According to a survey, Blur alone accounts for 80% of the Ethereum-based NFT market, while the other marketplaces combined occupy the remaining 20%.
Users of the platform can receive the native BLUR token as airdrops. It requires a low commission fee, and there is no transaction fee for the sales of NFT. Additionally, Blur is also an NFT aggregator.
2. OpenSea:
OpenSea was founded in 2017 and is currently the largest NFT marketplace, with over $20 billion in volume, over 80 million NFTs, and 2 million NFT collections. There are a variety of categories, like art, music, photography, music, virtual real estate, virtual goods, and more, for buyers to choose.
In OpenSea, crypto payments using Ethereum, Solana, Polygon, Klaytn, and a few others are allowed. Furthermore, it is known for its user-friendly interface. People who are new can easily create an account with the platform and start browsing their favorite NFTs. It also allows users to create their own NFTs.
For every transaction in the platform, it charges a fee of 2.5%, and buyers also need to pay gas fees. There are no costs associated with the creation of a NFT. To avoid paying gas fees, users can use Polygon for transactions.
3. Rarible:
Rarible is an Ethereum-based NTF marketplace where users can buy, sell, and mint various digital assets like crypto arts, game assets, collectibles, and more. It was launched in 2020 and has developed into one of the best NFT markets for users who are looking to access a large network with solid connections. Rarible follows decentralization, as such, users can trade without any intermediaries.
It allows users to conduct transactions using credit cards, cryptocurrencies, and fiat currencies. Rarible has its own token called RARI, and those who own this token can participate in voting on various company decisions like feature upgrades, policy changes, etc.
Back in 2021, Rarible partnered up with Adobe to make verifying and protecting digital asset (including NFTs) metadata easier. It charges a 2.5% fee as a commission for every transaction and a gas fee.
4. SuperRare:
SuperRare is similar to Rarible, an Ethereum-based NFT marketplace where all kinds of digital artwork. The platform was started in 2018 and focuses on exclusivity by selecting a collection of limited-edition digital pieces from top artists. Collectors can find gallery-quality artworks that are auctioned periodically.
It also has a native token called RARE which can be used to vote on decisions made by the company. They have strict requirements when selecting artwork to make their platform different from others. This makes it hard to see fake art pieces in the marketplace. It requires an Ethereum wallet to make a payment and has a gas fee of 3%.
5. Mintable:
Mintable, an NFT platform built on Ethereum, stands out for its innovative design and user-friendly features, which cater to both creators and collectors. With diverse assets spanning music, art, sports, games, and more, Mintable strengthens users to create, purchase, and trade NFTs seamlessly.
It also reshapes the landscape of how we view and engage with unique digital items. Users can also create a series of printable NFTs and edit or remove listings. Furthermore, it has a gas fee of 2.5%.
6. Binance:
In 2021, Binance, one of the largest cryptocurrency exchange platforms, launched its own NFT marketplace. The marketplace offers assets like digital artwork, sports, gaming items, collectibles, and more. It also has a user-friendly interface.
One of the most exciting things about Binance NFT is its listing and trading of Mystery boxes containing mysteries NFT. As Binance is well-known in the crypto sector, it has an edge over other NFT marketplaces. Furthermore, the platform only charges a 1% trading fee.
7. Nifty Gateway:
Nifty Gateway is a popular platform for serious art collectors and enthusiasts. It is a marketplace containing a curated collection of NFTs from popular artists and businessmen. In 2019, the platform was acquired by the cryptocurrency exchange Gemini.
The platform has a user-friendly interface and allows users to create, buy, sell, list, and issue NFTs. The available custodial wallet makes the way easy for traders to get NFT ownership without worrying about the crypto wallet or the gas fee. It allows payments using credit cards, debit cards, and Ethereum. The marketplace takes 5% of the sales price.
8. NBA Top Shot:
NBA Top Shot is a famous NFT marketplace where you can get team-winning moments, slam dunks, and other top memorable moments as NFT. The platform is owned and managed by the NBA. The Moments NFTs are divided into four categories: rare, legendary, fandom, and uncommon NFTs.
This is a platform where basketball fans can get video clips of their favorite artists as NFTs. To purchase moment NFTs, users can use credit cards, debit cards, cryptocurrencies like Ethereum and Bitcoin, and stablecoins like USDC or DAI. The platform charges 5% for each NFT sale while offering listing and removal of NFT free of charge.
9. Foundation:
Foundation is a large NFT marketplace based on the Ethereum Network. It is different from other platforms, where creators of NFT are allowed to build communities around their work. Its listing includes videos, NFT images, artwork, and more.
The Foundation follows the auction mechanism where the art is fixed with a reserve price, and once the bid is placed, it will start the 24-hour auction countdown. Users can use credit cards, debit cards, Ethereum, and PayPal as means of payment. It costs 5% per transaction, and the creator can get 10% royalties every time it is resold.
10. Axie Infinity:
Axie Infinity is one of the top NFT marketplaces for gamers. It has over 2 million active users, forming a dynamic and engaging community. Players can buy, sell, and raise Axies, which are legendary creatures, and use them to combat other player’s Axies to gain rewards.
They can purchase virtual lands and other in-game NFTs using credit cards, debit cards, or PayPal. It is based on the Ethereum blockchain and has its own token called $AXS, which can be used for voting, staking, and incentives for winning. For each sale, the platform has a gas fee of 4.25%.
How Does An NFT Marketplace Work?
First, you need to create an account with the NFT marketplace. During the account creation process, the platform would demand you to add a payment method. Some platforms require linking the crypto wallet, while others accept credit or debit cards.
You can search for the NFT you like and buy it directly at a fixed price or through an auction. Once the transaction is done, the platform will record the change in ownership on the blockchain.
Conclusion:
If you are looking for a place to list, buy, or sell your NFT, these are the NFT marketplaces that you should keep an eye on. It doesn’t matter if you’re an artist or a collector, these platforms cover all ranges of NFTs while offering different buying methods. When choosing an NFT marketplace, make sure to consider factors like fees, NFT collection, payment methods, and blockchain.
