Non-fungible tokens or NFTs have received great popularity in recent years. People have invested billions of dollars in this digital asset. Celebrities like Snoop Dogg, Lionel Messi, Eminem, and Justin Bieber have also launched their NFTs. These are virtual cryptographic assets in the form of pictures, artworks, videos, in-game items, and much more. Many artists and content creators turn their work into NFTs. These digital assets are present on blockchain technology. This technology is also used for recording the transactions of cryptocurrencies. NFTs and cryptocurrencies are different from each other. You can exchange or trade cryptocurrencies for one another. For example, one Bitcoin is equivalent to another one.
On the other hand, people cannot exchange NFTs for one another. They are different as they have identification codes and metadata. NFTs also provide a record of ownership for digital assets. Anyone can trace the ownership due to blockchain technology. Many people buy and sell NFTs through marketplaces. You have to open a digital wallet to store NFTs. People buy this digital asset through cryptocurrency, like Ether. People also mint or create NFTs on the marketplaces. You can upload your digital work as NFT on a marketplace and then sell it. Various NFT marketplaces are available, and it is tough to choose one. In this article, we will tell you about the best NFT marketplaces:
Factors To Consider For Choosing Best NFT Marketplace
Below, you can check the things to consider before selecting an NFT marketplace:
- You have to consider safety before selling an NFT on a marketplace. People have to make sure that the NFT marketplace is safe for them. The marketplace must provide security against hackers and scammers. You can also check the customer reviews regarding the marketplaces.
- It is vital to consider the trade volume of an NFT marketplace. There is no benefit if you list your NFTs for sale on a marketplace where you cant find buyers for them. So, you can check the trading volume of an NFT marketplace before you sell your work on it.
- You can also consider the gas fees before selecting an NFT marketplace. These fees are for performing a function on the Ethereum blockchain while minting NFTs. You must pick a marketplace through which you do not have to spend more money on the gas fees.
- You can also choose an NFT marketplace as per its blockchain technology. Many marketplaces use the Ethereum blockchain. You can also discover NFT marketplaces based on the blockchain technologies like Polygon, Solana, BSC, and Cosmo.
- Nowadays, many marketplaces support different types of NFTs. Many NFT marketplaces support NFTs in the form of artwork, in-game items, music, video, and more. You can select an NFT marketplace as per your digital work.
Best NFT Marketplaces In 2022
Below, we have mentioned details regarding the best NFT marketplaces:
- OpenSea
OpenSea is a well-known NFT marketplace globally. They deal in every kind of NFT like art, music, photography, and more. You can create, purchase, or sell your NFT on this platform. OpenSea runs on the Ethereum blockchain and includes Polygon for reduced gas fees.
Users can mint NFTs and set up their profiles for free. This marketplace supports more than 150 cryptocurrencies for payment. Also, they have sold the most popular NFTs like Bored Apes, CryptoPunks, and Doodles. OpenSea has a total of $4.1 billion in sales in 2022.
- Rarible
Rarible is an NFT marketplace supporting three blockchain networks: Ethereum, Flow, and Tezos. Here, you can mint and sell different types of NFTs. Their users are sports, gaming, and media brands. Also, many artists sell their collections on this multi-chain support platform.
Also, this community-owned marketplace has its own token named RARI. This token helps the users to vote for any change in the platform. In this way, they promote decentralization. They have a total user base of over 1.6 million.
- Nifty Gateway
Nifty Gateway is famous as the NFT marketplace for elite people. Here, you can buy, mint, or sell exclusive NFTs. Nifty Gateway runs on the Ethereum blockchain. Cryptocurrency exchange Gemini manages this marketplace. They allow verified creators to mint and sell NFTs on their platform.
In this way, they promote creativity and authenticity. Also, Nifty Gateway is famous for selling the NFTs of world-famous artists like Grimes and Beeple. This platform had sold Beeple’s Crossroads NFT for $6.6 million back in the previous year.
- Decentraland
Decentraland is the perfect NFT marketplace for gamers. This play-to-earn platform allows the players to explore the virtual world through their virtual avatars. You can buy virtual lands and sell them as NFTs. Also, here you can do things like in the real world. Decentraland runs on the Ethereum blockchain. They have their own cryptocurrency named MANA.
This token is best for buying all the assets. Many people are investing in the game NFTs through Decentraland. A virtual land on this platform was sold for $2.4 million.
- Binance NFT
Binance NFT marketplace is the perfect platform for the Binance token holders. It is the biggest NFT marketplace to buy and sell different NFTs. Crypto exchange Binance had started this marketplace to unite artists, creators, crypto enthusiasts, and collectors for the minting, buying, and selling of NFTs.
They also provide exclusive NFTs created by well-known artists and brands. Another best thing about Binance NFT marketplace is its low transaction fees.
- Axie Infinity
Axie Infinity is a famous play-to-earn game. It also has gaming-based NFT marketplaces. Axie Infinity allows the players to get the NFTs representing each Axie, cute creatures in the game. You can sell the Axies and other in-game items as NFTs to earn profit. Also, this marketplace uses Ronin, a sidechain on the Ethereum network. Axie Infinity has millions of users globally.
Conclusion
It is the best time to invest in non-fungible items. You can buy valuable NFTs from the best NFT marketplaces. Also, people can sell their digital work by minting NFTs. Also, choose an NFT marketplace carefully for buying and selling NFTs.
