Looking for the best NFT marketplaces? You’re in the right place. In this essential guide, we’ll go over the top ten best NFT marketplaces, plus what to look for when choosing one that fits your needs.
You’ve probably heard of “NFTs” – non-fungible tokens. If you’re not sure what they are, that’s okay! We’ll explain in a bit. But first, let’s talk about why you should care.
NFTs are all the rage right now because they represent a new frontier in digital asset ownership. They’re digital assets that aren’t interchangeable, like cryptocurrency tokens. Instead, they hold unique value because each one is different from the next.
This makes them perfect for representing everything from artwork to music to entire virtual worlds. And because of this uniqueness, NFTs have become some of the most sought-after digital assets on the market today.
So how do you get your hands on some NFTs? Well, that’s where NFT marketplaces come in. NFT marketplaces are online platforms that allow you to buy and sell NFTs.
Just like Amazon is a marketplace for physical goods, these marketplaces are your one-stop-shop for all things NFT. And there are dozens of them to choose from!
But with so many options, it can be tough to know which marketplace is right for you. That’s why we’ve put together this list of the ten best NFT marketplaces out there. We’ll help you consider the fees, the focus, and even the blockchain before you decide on the perfect place to start buying and selling NFTs. So let’s get started!
Best NFT Marketplaces
What are NFTs?
NFTs are digital assets that are stored on a blockchain. Unlike other digital assets, each NFT is unique and can’t be replicated. This makes them perfect for things like art, music, or even virtual worlds.
Because they’re stored on a blockchain, NFTs are also incredibly secure. This means that you can buy and sell them without worrying about fraud or counterfeiting.
The Best NFT Marketplaces: Considerations
Now that you know a little bit more about NFTs, it’s time to start thinking about which marketplace is right for you. Here are some things to keep in mind:
- Fees: Many marketplaces charge fees for buying and selling NFTs. These can range from a few cents to a percentage of the total transaction.
- Art: Not all marketplaces sell the same kind of art. Some focus on digital paintings, while others sell more functional items like website domains or in-game assets. Consider what kind of art you’re interested in before you pick a marketplace.
- Blockchain: Each marketplace uses a different blockchain to store its NFTs. This can affect things like transaction speed and security. If you’re not sure which blockchain is right for you, check out our guide to the best NFT blockchains.
- Cryptocurrency: You’ll need to use cryptocurrency to buy most NFTs. Most marketplaces accept Ethereum, but some also accept other coins like Bitcoin or Litecoin. Again, consider what you’re comfortable using before you choose a marketplace.
- User interface: some marketplaces have more user-friendly interfaces than others. If you’re not sure where to start, look for a marketplace with a simple design and easy-to-understand instructions.
Best NFT Marketplaces Right Now
Now that you know what to look for, here are ten of the best NFT marketplaces currently in operation:
OpenSea is one of the oldest and largest NFT marketplaces. It sells everything from cryptocurrency collectibles to in-game items and even digital art. One of the great things about OpenSea is that it supports a wide range of blockchain platforms, so you’re not limited to just Ethereum-based assets.
Rarible is another popular NFT marketplace that focuses on digital art and other creative works. Unlike some other marketplaces, Rarible doesn’t charge any listing or transaction fees. That said, the site does take a cut of any sales made through its platform – currently set at three percent.
SuperRare is one of the best-known NFT marketplaces for digital art. All of the art sold on SuperRare is one-of-a-kind, and the site boasts a community of more than 30,000 artists and creators.
4 Magic Eden
Magic Eden is a relatively new entrant to the NFT marketplace space, but it’s quickly become a go-to spot for buying and selling all things related to blockchain games.
5 Nifty Gateway
Nifty Gateway is one of the most popular NFT marketplaces, particularly for those who are interested in buying and selling digital art. Nifty Gateway is run by the team behind Gemini, a cryptocurrency exchange, so you can be sure that your transactions will be secure.
MakersPlace is another NFT marketplace that specializes in digital art. One of the things that sets MakersPlace apart is its focus on helping artists build sustainable careers – something that can be difficult in the world of NFTs.
One of the oldest NFT marketplaces is KnownOrigin. It specializes on distributing unique and rare artworks in time-limited events, known as drops, which allow artists to limit the number of copies produced. This can lead to scarcity and price rises. Artists must apply for membership and be approved before they can join, which adds to their exclusivity.
This marketplace uses Ethereum to create coins, so keep in mind the costs and carbon footprint when placing a bid.
Mintable is an easy-to-use NFT marketplace and creation platform that’s great for beginners. It doesn’t have the same high barrier to entry as some of the other marketplaces, which can be off-putting for newbies.
This is a good choice if you’re looking to experiment with creating your own NFTs without spending a lot of money on gas fees. You can also buy, sell, or trade existing NFTs here.
Despite its name, the Foundation was never intended to be a foundation in the material sense. It began as a community-curated platform run by a select few of artists. But it is now inviting everyone inside. It’s only been operational for a year, yet its creators have already earned over $163,000.94. To join Foundation, you must acquire an invite from a current artist; each artist has just one ticket to use at any given time.
An NFT on Foundation is sold for $10,000 and has an 85% profit margin to the artist. Secondary sales earn 10%, which is lower than other NFT markets.
10 Theta Drop
Theta Drop is a partnership between the Theta Network and Bondly. The NFTs on Theta Drop are called “Thetapoints” and are used to access premium content, discounts, and other benefits on the Theta Network.
The Theta network is based on its own blockchain. To use the Theta Drop NFT marketplace, you’ll need to acquire Theta Token (CRYPTO:THETA). Binance, for example, offers support for Theta tokens and NFTs, which may be stored in a cryptocurrency wallet as well as in the Theta platform.
Tips For Choosing An NFT Marketplace
Before you start buying and selling NFTs, you need to find the right marketplace. Here are some factors to consider:
First, keep in mind that an NFT merely represents ownership of a thing. Before selecting an NFT marketplace, you should first decide whether you want to acquire, sell, or produce digital assets. Almost every digital item – including literature, videos, video games, artworks, collectors’ items, and so on – can be tokenized on a blockchain and turned into an NFT.
Second, each NFT marketplace has different rules, processes, and interfaces. When you’re looking for the best NFT marketplace for you, be sure to read the fine print and understand the terms of service. Some NFT marketplaces are very user-friendly, while others require a bit more tech-savviness.
Third, NFT marketplaces also differ in the type of digital assets they offer. For example, some focus on art while others specialize in video game assets or music. There are even entire virtual worlds that exist as NFTs! Consider what kind of asset you’re interested in before selecting a marketplace.
Finally, the blockchain and cryptocurrency used by an NFT marketplace can also be a deciding factor. Some marketplaces only deal in Ethereum-based NFTs, while others use other blockchains like Cardano or Polkadot. Similarly, not all marketplaces accept the same cryptocurrencies – so if you’re looking to pay with Bitcoin, make sure the marketplace you’re considering accepts it.
NFT is relatively new technology, and the marketplaces for these digital assets are still emerging. As the industry matures, we can expect to see more focus from marketplaces, lower fees, and a wider range of art and other NFTs available for purchase. For now, though, there’s still a lot of fun to be had in exploring the many different marketplaces that are out there.
As with any investment opportunity, there are risks associated with purchasing NFTs – but there’s also a lot of potential reward. If you’re thinking about getting involved, do your research and then take the plunge into this exciting new world.
Have you bought or sold any NFTs? Let us know!