The non-fungible token (NFT) market exploded in 2021, with some crypto artworks and other virtual items selling for millions of dollars.
This article will teach you about the main seven NFT markets where you may buy, sell, and accumulate NFTs.
1. OpenSea
OpenSea is a non-fungible token (NFT) marketplace headquartered in New York that was launched in 2017.
- Users may purchase and trade blockchain-backed collectibles, art, music, domain domains, trading cards, and virtual worlds on this site, among other things.
- The OpenSea website is straightforward to use. Users get access to all of the NFTs in the marketplace, data on the platform’s top NFTs, and a support centre.
- On OpenSea, beginners will find it simple to mint and sell NFTs. After listing their first NFT, users may enjoy nearly gas-free listings.
- NFT creators on OpenSea benefit from royalties earned each time a consumer purchases their item. You can charge a royalty fee of up to 10%. Users can also import products from other NFT marketplaces, such as Rarible and Mintable.
Users on OpenSea can use Chain list to add networks other than Ethereum to their wallets.
2. SuperRare
SuperRare is an Ethereum-based marketplace for rare works of digital art located in Delaware that was founded in 2018.
- SuperRare only wishes to promote high-quality work, artists only showcase their work on this site via invitation. Furthermore, it seeks a proportionate number of active collectors and artists.
- SuperRare has a basic design that allows people to locate what they are looking for quickly. As a method of supporting its artists, the site also encourages new art releases. On secondary sales, SuperRare offers built-in royalties for its artists.
- For creators, the primary and secondary sale commissions are 85 and 10%, respectively. All purchases are subject to a three percent charge.
3. Rarible
Rarible is an NFT marketplace in Los Angeles that categorises its NFTs as art, photography, music, domains, DeFi, games, and Metaverses. Non-fungible tokens can be bought, sold, and created here. The marketplace was established in the year 2020.
- When you first enter Rarible, you will see that it is incredibly crowded. As a result, it may take you a few moments to find out how to get started.
- On the site, you’ll also find the best-selling NFTs and the hottest collections. This allows visitors to get a peek at the marketplace’s activities. Rarible also has many celebrity NFTs. There is a ten percent royalty fee to pay.
- The platform rewards genuine and devoted collectors and producers with certified badges. To be validated, users must fill out a form. You may now see and manage your Rarible collections on OpenSea.
RARI is the governance token for Rarible. RARI rewards active users who impact the marketplace’s decision-making process.
Rarible aspires to become a completely decentralized autonomous organization (DAO) in which users determine all choices.
NFTs on OpenSea can also be listed in RARI.
4. MakersPlace
MakersPlace is a non-profit marketplace for digital artists, authors, and photographers. It connects creative artists and allows them to market their work.
- For secondary sales, the site provides escrow services and the ability to take credit card payments. Furthermore, the store, like Nifty Gateway, distributes new artwork through drops.
- MakersPlace recruits creators via invitations and charges a 15% fee on all ETH sales. A 10 percent royalty fee is charged.
MakersPlace was formed in 2018 and had its offices in San Francisco.
Nifty Gateway is a well-known NFT marketplace. It was formed in 2018 and had its headquarters in New York.
- Nifty is a centralised digital art marketplace. Surprisingly, there is no requirement to pay with ETH to use this site. This is because you may purchase and sell nifty (the platform’s name for NFTs) with USD.
- Gemini, a regulated US digital currency exchange, owns Nifty Gateway.
- The platform uses drops to distribute compilations from famous artists. These collections will only be available for a short time.
- On the website, you may see a countdown that indicates when the next drop will occur. Furthermore, the platform is user-friendly.
The royalty amount that artists will accept on secondary sales is entirely up to them. Nifty charges a 5% fee plus 30 cents on each secondary sale.
NFTs are now widely accessible to anybody with an internet connection and an Ethereum wallet, thanks to the mentioned NFT markets.
6. Foundation
Foundation is a digital art platform where artists are invited by the community. Invited artists can then mint and sell their NFTs after entering the marketplace.
- Creators are paid an 85 per cent commission on prior sales and a 10 per cent commission on secondary deals. Creators can also invite other creators to participate.
- The website’s design is clean and professional. However, there is a lot of material on the homepage, which may cause the website to take longer to load.
- Since the Foundation’s inception in February 2021, artists have received more than $40 million. This marketplace sold the well-known Nyan Cat NFT for 300 ETH ($842,325).
NFTs are now widely accessible to anybody with an internet connection and an Ethereum wallet, thanks to the mentioned NFT markets.
7. Decentraland
Last but not least, Decentraland has what is likely the most modern-integrated platform for selling and trading NFTs. The major subject is that of rights.
That is, the inventors of the NFTs presented on this digital platform will be granted complete rights.
The community may propose and adopt regulatory changes, establish appropriate auction rules, and even whitelist NFT contracts that will be allowed in each of its market categories.
But the ecosystem on which Decentraland is built is considerably more essential than “simple” policy implementations, system upgrades, and trading choices.
It is basically its own virtual universe, complete with accessible three-dimensional rooms where trades and transactions may be completed much more naturally.
It’s really pretty suitable for the auctionable virtual lands and estates that distinguish it from other great NFT markets.
Conclusion
Don’t be too concerned about hunting for a famous deal or a notable artist on the sites. A useful rule of thumb to remember is that in a trustworthy NFT market platform, buy criteria and transaction features must go hand in hand.
For example, a straightforward mix of a dependable token standard/blockchain network and effective buyer optimization choices (verification, price balancing, etc.).
