10 TOP NFT Marketplaces to Buy & Sell
In 2021, OpenSea, as the best NFT marketplace, considerably increased the amount of cash spent on various sorts of digital assets. People from all over the world obtain and sell photos, memes, tweets, and virtual universes for huge amounts of cash. Conversely, experts say that the NFT hype has just started. Scroll down to get all the essential info on the top 10 platforms for NFTs.
What Are NFT Platforms?
NFT platforms are special virtual marketplaces that allow everyone to trade various sorts of NFT products. Unlike conventional tokens or any cryptocurrency, all NFTs are unique. Each of them exists in a single copy. These may be GIFs, music, real estate, cars, paintings, any type of photo, and generally everything a human mind can invent.
NFT marketplaces, therefore, are platforms where those items can be traded or exchanged. They are designed specifically for NFTs. All kinds of digital works are stored and sold here.
Choosing the Best NFT Marketplace
It is often not easy to select the top NFT marketplace in the vast ocean of accessible proposals. A lot depends on what exactly a person desires to pay money for or put up for sale, as well as his/her aesthetic preferences and needs. However, there are other vital issues to be aware of while choosing an NFT marketplace. These are cryptocurrencies, NFT types, and gas fees. Knowing these peculiarities will help make a regret-free decision.
Currency
Initially, the best types of NFT marketplaces are based on Ethereum. Its blockchain is used to record all transactions digitally. Other blockchains are supported for creating and trading NFTs. Any person is able to buy an NFT of any type at a chosen marketplace for Bitcoin, Monero, Ethereum, Zcash, or other altcoins. Moreover, a person can trade NFTs using any fiat currencies (dollar, euro, pound, etc.). After a deal is closed, the financial transaction is recorded on the chosen blockchain. It completely secures the ownership of an NFT.
Types of NFT
Presently, anything in the world can be an NFT. Consequently, the definition of NFT types is rather vague. According to the availability, eight key sorts of NFTs are defined:
Overall, popular NFT marketplaces offer millions of items available for trading. Thus, a person can select the desired platform, create an NFT, and pocket good cash. Less than simple!
Gas Fees
When choosing the top NFT marketplace, gas fees must be studied thoroughly. A gas fee is a form of payment that NFT marketplaces regularly charge for financial transactions. Everyone is obliged to compensate a gas fee to complete a desirable transaction on the ETH network, regardless of the wallet type.
A gas fee is the smallest Ether fraction. It makes use of a special unit titled Gwei. Currently, it is an equivalent of 0.000000001 ETH. For example, OpenSea charges a 2.3-2.5% gas fee for each final sale. The minimum minting fee at Rarible is 2.5%.
If a person wishes to generate NFTs with no gas fees, he/she is recommended to search for another blockchain among top NFT marketplaces. For instance, it can be OpenSea’s Polygon blockchain.
TOP 10 NFT Marketplaces to Explore
Special platforms are launched almost daily to help people trade NFTs conveniently, quickly, and safely. Currently, there are plenty of such marketplaces, but over 85% of them cannot be relied upon. However, our experts have thoroughly studied the market and chosen merely the best ones. Thus, let us spotlight the top 10 NFT platforms.
OpenSea
OpenSea is the most significant and the best NFT marketplace. This exceptional platform was formed by A. Finzer in 2017. It is based on the Ethereum ERC-721 standard. In September 2021, the platform earned over $3.45 billion in overall sales. As of January 2022, OpenSea’s price is more than $13.28 billion.
The diversity of offers surpasses many other trading platforms. Thousands of different NFTs are presented here. Thus, you can trade and auction music videos, paintings, web domains, real estate, memes, etc. Moreover, the platform has multiple auction features. It is fully integrated into the crypto infrastructure.
An OpenSea client should pay a fee when placing an NFT for sale. It usually depends on network demand, time of day, and many other factors, and sometimes can even exceed the price of the traded NFT. An average fee ranges from $70 to $100.
Rarible
Rarible is the top NFT marketplace operating worldwide. It was founded by A. Falin in Russia in 2020. Rarible uses the native RARI token. It positions itself as a supreme marketplace for selling and buying all types of art projects. It is an ideal place for photographers to trade their works. One of its key advantages is that Rarible allows its customers to receive remuneration every time their works are resold. The average annual turnover is over $700 million.
Rarible has one of the highest trading volumes among all NFT marketplaces at the moment. The marketplace has free registration. For the placement of every new NFT or a new collection, a customer is charged the Ethereum network fee ranging from $30 to $100.
SuperRare
SuperRare positions itself as a unique virtual art gallery. The platform operates on Ethereum. The main advantage is that it offers exclusive NFTs that cannot be found anywhere else. Each work is genuinely created. It is one of the best NFT marketplaces for fans of photography. Artists develop a specialized certificate to confirm their authorship.
The platform is fully appreciated by art collectors worldwide. Being a successful NFT platform, SuperRare continues developing. It is free to download an NFT there. SuperRare charges a 15% fee for the first successful deal. Moreover, this marketplace charges a 3% fee for each following NFT deal.
Foundation
Foundation is the trendiest NFT marketplace for creating and trading all sorts of NFT art objects. It is righteously considered the best NFT marketplace for artists. It offers 1 of 1 pieces of art. The platform also operates on the Ethereum blockchain.
Foundation is a classic NFT auction platform. Its main peculiarity is that a person needs to be invited by another member to join this marketplace. The auction is held by analogy with the real public sale of goods. Anyone who has indicated a higher price within a certain time gets a piece of work.
Foundation is one of the best NFT marketplaces allowing photographers to demonstrate their art objects with the maximum audience engagement. This can be done by sharing the works on blogs and social networks. Authors can post their works for free. Foundation withholds up to 15% from the sale of every NFT. If an already purchased NFT is resold, the author additionally gets a 10% royalty.
Melon
Melon is considered one of the best NFT marketplaces to buy or sell various types of viral content. It is mostly used by influencers who wish to turn their social media content into expensive, unique, and collectible NFTs. This primarily concerns content from the most admired platforms, such as Twitch, TikTok, YouTube, and Instagram.
Melon positions itself as a marketplace with the most exclusive content that can never be replicated, unlike other NFT objects. That is why the platform is largely focused on creating digital NFTs.
Melon is based on an ERC-20 fungible token, which is well-matched with the ETH blockchain. Placing an NFT on Melon is free of charge for all clients. A customer is charged a fee ranging from 2.2% to 4.5% for each sold NFT.
Axie Infinity
Axie Infinity is a great virtual world filled with so-called Axies. They are fierce creatures who adore building and battling for treasures. You can create and trade your Axies as many times as you wish. It is a kind of an online video game based on NFTs. It uses the ETH blockchain. Sky Mavis, a popular developer from Vietnam, produced Axie Infinity.
While playing Axie Infinity, each individual can earn tokens traded on Binance. Players are also allowed to trade all assets available in the game as NFTs. The number of daily active players exceeds 2.8 million users. The most expensive Axie has recently been sold for over $820,000.
To start enjoying Axie Infinity, a new customer is required to purchase three Axies from this marketplace. Only after that, an application can be downloaded. The app is available for Windows, iOS, Android, and Mac OS.
NBA Top Shot
NBA Top Shot is the best NFT marketplace where all NBA admirers gather. Its main concept is to generate and put up for sale collectible digital sports cards. NBA Top Shot cards contain videos from past games instead of static images. Therefore, each video clip is considered an exclusive NTF. So, both buyers and sellers will be delighted.
Here, one can purchase video highlights with an official license. The average NFT price ranges from $8 to $220. The NBA Top Shot marketplace charges a 5% fee for each sold NFT regardless of its final price.
Sorare
Sorare is a quite well-known football fantasy game. It provides players with an opportunity to purchase, sell, and manage a football team using digital cards. The game has become very popular recently. At the end of 2021, this NFT marketplace raised almost $700 million. The weekly trade volume of the Sorare blockchain platform exceeds $2.25 million.
Sorare offers players to become managers of virtual teams. They should use five footballers to compose a team using blockchain cards on this NFT platform. Each Sorare card is a unique NFT object. A player is allowed to exchange it any time he/she wishes. Teams get points based on the results of all matches played by real football teams. The more points a team receives, the more powerful it becomes (and more expensive, correspondingly). This is one of the best variants of marketplaces for NFT that operates as a classic fantasy football game.
There are four types of virtual football cards. All the virtual cards are classified by rarity level. These are Limited cards (only 1,000 copies per season), Rare cards (only 100 copies), Super rare virtual cards (only ten copies), and only one Unique card. A player can earn a huge amount of cash by selling cards for cryptocurrency or fiat money.
Aavegotchi (Bazaar)
As a popular NFT marketplace, Aavegotchi offers to purchase avatars in the form of digital pets having different bodies, personalities, or colors. The platform clients are allowed to use Aavegotchi Bazaar to trade avatars and their badges.
The platform operates on the Polygon blockchain. Each Aavegotchi is an exclusive NFT, which can be upgraded any time with various accessories. All the avatars can be resold as many times as the customer wishes. You can buy and sell Aavegotchi using cryptocurrency on the official Gotchi Bazaar. A link to it can be found on the official website of Aavegotchi.
Decentraland
Decentraland is based on the ETH blockchain. Using it, players can monetize their content and apps. LAND is the name of the final and crossable 3D space. It is considered a unique NFT. The average weekly trade volume of the platform is over $1.25 million.
LAND is divided into separate sections. A player can buy them for the MANA utility token. The game is available using Chrome and Firefox browsers. Some sections are additionally arranged into thematic communities or areas. Members can create shared spaces with specific interests. Content is distributed through a decentralized network while all rights and transactions are verified through the Ethereum blockchain. An ETH wallet is required to start playing.
Investing in NFTs
The popularity of NFTs has been growing rapidly daily, and over 90% of the digital community actively purchase and resale all sorts of NFTs. Thus, this activity has presently turned into a profitable and safe investment opportunity. However, experts say that the level of earnings may depend on both luck and the longevity of a selected asset. It is especially true for choosing the best variant of the NFT marketplace for buying music videos.
Knowledgeable investors with great trading experience have already started to buy all sorts of NFTs. Based on risk assessment, they believe that NFT prices will shoot up and allow them to hit the jackpot. So, investors are ready to wait.
Here are top reasons to invest in the top NFT marketplace:
To crown it all, investing in NFTs is considered a good way to pocket big bucks without doing almost anything.
Final Thoughts
The industry continues to develop, and now we see a lot of promising NFT projects. The NFT popularity will only grow in the coming years with the emergence of innovative apps for digitizing collectibles. The most interesting trend in recent times is, unquestionably, the incredibly rapid progress of digital art. The attractiveness of NFTs has been growing among investors, collectors, and traders.
To get the most out of these new opportunities, traders use special marketplaces. So, which NFT marketplace is considered the best? Even though OpenSea, Melon, and Rarible are dominant marketplaces now, you have learned about a choice of other trustworthy NFT platforms from this post. Consequently, any of the mentioned marketplaces can be selected for trading NFTs successfully.
Frequently Asked Questions
What Is the Most Popular Type of NFT?
As of the beginning of 2022, various works of art and short videos are the most luxurious and the trendiest NFT types. Particularly, notorious artist Beeple sold two works of art for $75.6 million.
How Hard Is It to Create an NFT?
The cheapest NFT can be created on Ethereum for $70 to $90. OpenSea, as the largest NFT marketplace, allows everyone to use a so-called lazy minting to create an NFT and sell it without any fees.
Which NFT Marketplace Is the Best?
Nowadays, OpenSea is considered the most popular marketplace for NFT, with more than 4,2 million assets. Such competitors as Foundation, Sorare, Decentraland, or NBA Top Shot lag far behind.
