With a range of NFT marketplaces to choose from, which one is the right one for you? We explore how the choices can impact your business.
What should you look for when choosing an NFT marketplace?
The article will break down what are the best top 10 NFT Marketplaces as well as provide a rundown of why these markets stand out from the rest.
If you’re buying, selling, or creating digital assets, it’s necessary to decide what specific asset you’re chasing before exploring an NFT marketplace (also known as a crypto exchange).
From something like a book of business plans to art work and graphic designs created by others, there are many different options. Currently the most popular type of NFT is virtual cats called CryptoKitties (CRYPTO:CAT) that are unique and minted daily.
It’s essential to research the NFT marketplaces available. Some support a wide variety of tokens, others are closed marketplaces and utilize a specific proprietary token.
Be sure to fund your blockchain wallet with the right crypto or token required to participate in an online activities or community on the NFT platform like polls and hubs, opportunities for buying items or beta testing, engaging in a discussion about NFTs with other members on social media, battling tactics.
Beware of an open marketplace- not all blockchain platforms will accept the same token type. So make sure you are eligible for any site that accepts your personal crypto wallet before opening an account.
Other considerations include the security of the marketplace, and the lack of chargebacks for the transactions contained within.
Here are some of the top NFT marketplaces that you can get on
OpenSea is an excellent place to start exploring the NFT world. OpenSea specializes in selling digital assets and offers a wide variety of tokens for purchase. More than 150 different fiat currencies can be deposited directly with OpenSea, so it’s also a good choice for those users who are looking to make some money. Opensea (OPN) is a non-fungible token that allows anyone to purchase custom, blockchain based digital assets. These tokens can be purchased with a variety of different trading pairs including Bitcoin, Ethereum, and fiat currency. The OPN exchange (OPNX) is set to become the world’s first decentralized OPN market where users will be able to trade their digital assets for other digital assets and fiat currency.
- Axie Marketplace
Axie Marketplace is a game merch store that allows players of Axie Infinity to purchase new Axies, whole lands, and other items for use in the game. The NFTs on the store allow users to spend their AXIEs on the outside world, acting as a bridge between online gaming and real-life spending. The platform allows users to create their own token, and it also allows them to trade other tokens in the secondary market. Axie has good security features that include a smart contract system and a user-friendly interface.As an NFT, Axie Infinity can be used on other blockchain based marketplaces that already exist. It can also be bought and sold on Coinbase Global (NASDAQ:COIN), which allows for individuals to invest with USD.
- The NBA Top Shot marketplace
The NBA Top Shot marketplace is a new avenue of monetization for the world’s premier basketball franchises. Through collectible souvenirs and unique art on the marketplace, users can buy opportunities to own their favourite moments from some of the greatest players to have ever played in professional basketball. The NBA built a marketplace based on the DNA of Top Shot, its reality show. It’s easy to sign up and buy directly through the marketplace website. Collectible moments are available for as little as a few dollars.The NBA Top Shot marketplace uses non-fungible tokens to create a collectible, community-driven marketplace. The tokens are used to advance players’ progress in the game, and can be redeemed through the platform for different types of rewards. In addition, the token provides incentives for active users and more opportunities to trade on decentralized platforms.
SuperRare is a marketplace that allows users to buy, sell, trade and collect rare and non-fungible tokens. The focus of the site is not a specific game or platform but instead the ability to buy and sell different digital assets which includes items from video games, virtual worlds, cryptocurrencies, e-sports tournaments art, videos, and 3D images. Utilizing Blockchain technology and its first use for the art market, it’s designed to appeal to both investors and collectors. Built on Ethereum, the marketplace aims to provide transparency and security in the otherwise volatile cryptocurrency market.
Rarible is a marketplace for unique digital possessions, similar to OpenSea. Despite its similarity with the standard marketplace, you’ll need to spend cryptocurrencies like Rarible (CRYPTO:RARI) to buy and sell on the marketplace. The platform is built on the Ethereum blockchain and supports both artwork registered on OpenSea.Some companies have accepted Rarible partners, including the company that operates Taco Bell and cloud software giant Adobe. Notable partnerships provide new opportunities to securely list art.
- Larva Labs/CryptoPunks
Larva Labs created a platform with the goal of building a non-fungible token marketplace. They hope to create a place that enables users to easily find, purchase, and sell unique collectibles they own. The design is modern and sleek, and it includes features like search and browsing so you can find the perfect item for your needs.Larva Labs was one of the first companies to combine blockchain and augmented reality. The company created a new kind of token called CryptoPunks, which are non-fungible tokens that can be used in augmented reality. They have added in-game currency and a trading card game that depends on their platform for players to compete with each other.
- Nifty Gateway
Nifty Gateway has allowed for the sale of some of the most popular artists, from digital artists such as Beeple and Grimes to singer/musician. It’s a curated platform powered by the Gemini (controlled by the Winklevoss Twins), and is made up of NFTs, or non-fungible tokens on Ethereum. Besides being a platform commanding art pieces that are curation by blockchain company, it also allows fiat transactions without making a cryptocurrency purchase first.
Mintable backed by billionaire Mark Cuban is a decentralized platform for buying and selling non-fungible tokens such as collectibles, coins, works of art, and other items. With the Mintable Marketplace, users can enjoy owning their own digital assets. The types of assets are limitless because they are based on open standards that allow anyone to create a new type of asset with ease.With Mintable, an aspiring NFT collector or creator can join the marketplace to sell and buy NFTs while they are exchanging ETH on a crypto exchange.
Foundation.app is a crowd-powered digital art marketplace that had sales of over $100 million in NFTs just after six months of launch in early 2021. Since its release, the platform has maintained adoption and increased in popularity.Foundation is purpose-built to take artists of all levels, and to foster an ecosystem of passionate art enthusiasts. This creative hub can be a great place for free shipping containers, offering more than 10 million available pieces of work in categories such as apparel, home décor and virtually anything that could use the Blockchain’s secure form of distribution.Foundation, which bills itself as a Creative Playground for Artists, has since had its total trading volume surpass $79 million and has sold some potentially major pieces of art, including the Nascent Foundation of “Nyan Cat,” Edward Snowden’s first piece in the NFT collection, Aphex Twin’s audiovisual digital collectible, and a whole lot else..
KnownOrigin is a marketplace that seeks to sidestep ancillary, lesser-used parts of the NFT ecosystem in favor of a curated approach. This biannual exhibition prominently features new and exciting artwork and has few limitations compared to the competing SuperRare and their monthly trading volume of $2 million. All artwork found on this platform is stored on IPFS which provides some security for the underlying materials.
Investment through NFT Marketplaces
Non-fungibles can be a good way to invest in the future. NFTs are basically digital assets that cannot be copied or created without the original creator’s knowledge. This means they’re protected by copyright, which makes them perfect for trading on decentralized marketplaces like CryptoKitties and Dharma.
In order to invest in NFTs, it can be difficult due to their sheer number. To be able to make money from an NFT, you’ll need a wallet and an exchange account for trading with other people.