NFT stands for non-fungible token.
If you’re new to the NFT concept, this article is just for you. Non-fungible tokens are unique things that cannot be replaced with anything. Let’s consider that the one-of-the-kind trading card is NFT, you cannot replace this trading card with any other trading card. When you trade a card for another card, you might have different ones.
These days, non-fungible tokens tend to be more digitized. These tokens were helpful for creators who are looking to give something unique to their supporters. A few examples of NFTs are digital artworks, these days people are collecting unique digital artworks, these artworks are expensive things. In the same way, few non-fungible tokens have sold out for the best prices. The popular NFT artwork “Beeple” was sold out for $69 million.
While talking at a high-level, most non-fungible tokens are elements of an Ethereum blockchain. Similar to Bitcoin, Litecoin and DOGEcoin, Ethereum is also a popular cryptocurrency, but the key difference is that Ethereum supports NFTs as well. These store additional important information that helps to work in a different way. Non-fungible tokens can be anything that is digital such as music, artwork, etc.
If you’re going crazy with NFTs, the best NFT marketplace can be a gateway to participate in buying and selling unique digital things (music, art, etc). There are several NFT marketplaces available in the crypto world. Many NFT marketplaces have a specific niche. Let’s have a look at the best NFT marketplaces to buy and sell NFTs.
Popular NFT marketplaces to buy and sell Non-Fungible tokens
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OpenSea
Have you ever heard about OpenSea? Of Course many times. OpenSea is the largest and leading NFT marketplace. It is the perfect place to discover, sell and collect extraordinary non-fungible tokens. Explore the wide range of collections at OpenSea, the trending collections are art, collectables, music, photography, sports, utility, domain names, virtual worlds and a lot more. The platform includes both ERC1155 and ERC721 digital assets. Sounds interesting right! Currently, they feature more than 700 projects and stood as the best NFT marketplace.
The best part of OpenSea is creators can easily create an item through the “Item Minting tool” on the blockchain. The tools are designed to make the work easy, no coding knowledge is required to make your collection. On the other hand, if you’re good at developing a smart contract for any game or digital collectable on a blockchain, OpenSea can be a wise choice for you. Apart from creating NFTs, you can sell your items on OpenSea. Set a fixed selling price or create an auction list depending on your need.
Axie Marketplace
Good news for all the online video gamers. Axie Marketplace is the popular destination to buy Axies, lands, items and bundles. If you looking to begin your journey with Axie Infinity, you should purchase three Axies. Currently, Axie marketplace is the leading NTF game. You can purchase land, Axie, decorations and in-game items. Axies are fictional creatures, you can buy and provide training, and pit them against other Axies to receive rewards.
Axie Shards are the Axie Infinity tokens, these are created on the Ethereum blockchain. Ultimately, these tokens can be purchased or sold out on multiple NFT marketplaces and exchange platforms.
Rarible
Rarible is the popular NFT marketplace to buy and sell non-fungible tokens on Ethereum securely. It was introduced in 2000. The platform is a leading community-owned destination that displays several digital artworks, collectables and other items. Sellers on the Rarible can build as many NFTs for digital artwork and sell them according to their choice. Rarible is a perfect marketplace for novice and experienced users, as the platform is offering a simple and user-friendly interface. On the other hand, processing payments is easy to learn.
Currently, Rarible supports ERC-1155 and ERC-721. It supports Coinbase wallet, WalletConnect, MetaMask, MyEtherWallet and Fortmatic. Rarible is offering several NFTs such as art, music, games, domains, memes, photography, auction and more. The platform charges around 2.5% commission per transaction.
Nifty Gateway
If you’re looking for a premier non-fungible token marketplace, Nifty Gateway is the one-stop destination for you. Whether you’re a newbie or an experienced trader, you can own digital products without hassles. Nifty Gateway is another important element of Gemini exchange, you don’t need to worry about any security issues. With utmost safety, you can simply buy or sell securely.
Nifty is the most trusted and reliable high-end non-fungible token marketplace for both buyers and sellers. Traders can easily buy and sell their crypto arts within a few simple clicks. The best part of the Nifty Gateway marketplace is effective collaboration. Yes, you’ve heard it right! The NFT marketplace collaborates with popular content creators, artists, popular brands and more.
Nifty gateway is one of the leading custodial NFT marketplaces, which means all the non-fungible tokens are stored on the platform, not on the wallet. Traders don’t need to bother about connecting their wallets like the Open Sea marketplace. The commission fee on NFT is around 15%, 5% – service fee, and 10% – artist fee. Creators on the Nifty marketplace will be given world-class technical support. This feature is making it easier for non-technical people to navigate and also use every facility.
Larva Labs
Larva Labs is popularly known for the “CryptoPunk” NFT project. In 2017, these were given for free. But, few CryptoPunks have sold out for a few million dollars. Thanks to Cryptopuncks, it is offering 10,000 unique collectables, these ensure proof-of-ownership that is stored on a powerful Ethereum blockchain. Autoglyphs is another on-chain art on Larva Labs built on the Ethereum blockchain.
Keep note, Larva Lab’s CryptoPunks non-fungible tokens have been sold out. But, these can be further bid on and purchased on several third-party NFT marketplaces.
SuperRare
SuperRare is the unique marketplace to buy or sell NFTs from top artists. The platform just looks like an Instagram page, you can browse top art, sale price timed auctions and more at a single glance. Every digital art displayed on SuperRare is generated by professional artists and further tokenized as a cryptocurrency collectable commodity. Later, users can own or trade according to their requirements. In SuperRare NFT marketplace, Ether is commonly preferred in every transaction.
Another best thing about SuperRare is it has established a powerful social network connection for its users. It’s an open fact that the collectables will have a secure ownership history, and the transparency of the ownership is perfectly suitable for social networking.
How to choose the NFT marketplace?
Hope you’ve got to know about the popular NFT marketplace to buy and sell non-fungible tokens.
Here are a few tips while choosing the right NFT marketplace for anyone.
Remember, the non-fungible tokens will represent the ownership of your digital asset. While choosing the right NFT marketplace for you, you should decide which types of digital assets that you’re looking to buy, sell or create. Since there are several different types of digital assets available in the crypto market, it includes video games, collectables, arts, etc. These assets can be tokens on the Ethereum blockchain. First, you need to know your interest and begin the journey towards NFTs.
Another important thing to consider is the token type that is accepted on the NFT marketplace. There are few NFT marketplaces that support all kinds of tokens. On the other hand, there will be few NFT marketplaces that support a few or specific proprietary tokens. While creating an NFT account, you need to ensure to fund the blockchain wallet with the right token. It is important to participate in the NFT marketplace’s activity. Keep an eye on security, the NFT marketplace needs to provide utmost security whenever you’re buying or selling non-fungible tokens.
Wrapping up
Investing in non-fungible tokens can be a great idea for any investor who is looking to generate better revenue. NFT marketplaces can be one stop shop to invest in several digital assets, art, videos, collectables and a lot more. Make sure to select the best NFT marketplace for all your needs, be it buying or storing your digital assets. Keep in mind that NFTs are new to the crypto market, there is speculative. Few NFTs can generate good revenue, there might be few NFTs that don’t guarantee value.
Hope the above-mentioned NFT marketplaces list will help you while buying, selling or storing your non-fungible tokens. Spend time on research before investing in these NFT marketplace.
