The Non-Fungible Token (NFT) Market has strained a lot of attention and the market activity has amplified significantly. But where do you trade them? Here in this post, we discuss the Top 10 Best NFT Marketplaces to buy and sell NFT art and photography.
NFTs (Non-Fungible Tokens) are having their big-bang flash: In early 2021, NFTs has fascinated NBA superstar, Kevin Durant, Grammy Award Winner, The Weeknd, famous Japanese artist Takashi Murakami, Adobe Photoshop, American Legend Pictures, to participate. It became so popular that even The New York Times and Time Magazine made a report on it.
When I initial looked into NFT art throughout the initial rush at the beginning of 2021, there was already a reasonably wide alternative of marketplace sites for getting and merchandising NFTs.
According to information from Cryptoart.io, the current total value of crypto artwork exceeds US490$ million, and the total number of crypto artwork pieces sold exceeds 170,000. In March 2021 the total transaction volume of the encrypted art platform exceeded a record high of US$200 million,
That’s a sixteen-fold increase in two months. The scary part about all of this: NFTs are still a young space in the decentralized ecosystem. Bitcoin was born in 2009. NFTs have only been accessible since 2017.
With the popularity of NFTs, various types of unique marketplaces have been established in recent years. How to choose a suitable marketplace to buy or sell crypto artwork seems to be a big problem for newcomers. This article will list the Top 10 NFT Marketplaces as references:
Having said that, which are the top NFT marketplaces out right now?
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There is no right answer for that. The NFT space is new that the marketplaces are experimenting with how to present their NFTs in a best way. So, these marketplaces will be evaluated for their own qualities, these marketplaces have been chosen for their user base and monetary volume. In other words, these platforms were selected with mostly objective metrics but were evaluated subjectively.
However, we recommend you to do your own research before trying out any of the platforms.
Opensea: Largest NFT Trading Platform
OpenSea is known for the first NFT marketplace and claims to be the biggest NFT marketplace out there right now. Opensea’s Record-Breaking Monthly NFT Volume Captures More Than $1.5 Billion. As far as general marketplaces go, OpenSea had the most financial volume in the last 30 days, or the month of March 2021.
OpenSea is a considered a good NFT marketplace for beginners to get started on because the company offer easy how to on how to list and sell your NFT artwork. Also, you can add items from other platforms like Mintable and Rarible to OpenSea, making it truly an “open sea” in that regard.
Rarible: Decentralized, Community, NFT Marketplace
Rarible is a Moscow based NFT platform Launched by Alex Salnikov and Alexei Falin back in early 2020. Basically, it is a digital NTF marketplace focusing on art assets. In detailed, it includes a marketplace for users to trade various digital collectibles or NFTs.
Rarible can be used to create “minting” NFTs. That is a great deal for various content curators as they can now sell creations, such as books, music albums, movies, etc. as NFTs
Moreover, the artist might choose to then offer buyers a sneak peek of the content – a preview, trailer, or snippet – but release the full content only when a person purchases the relevant NFT. This has opened up the amazing opportunities for young talent and upcoming artists.
However, scammers have been detected so many times and that’s why Rarible has created a verification process, to minimize the risk of dealing with a fake project.
In one of the biggest deals, Linsey Lohan launched her own profile on Rarible, selling her own creation ‘Bitcoin Lightning’ for just over $50,000. People trade art on Rarible earn some of the 75,000 RARI tokens which are distributed weekly, to encourage activity.
Foundation is a launched in the year 2020 which has its primary focus in selling digital art. They describe themselves as the evolving creative economy. It’s a kind of platform which brings collectibles, digital creators and cryptos together.
In the initial phase, they invited creators to manipulate and hack the creative work. It has nearly 3.5K NFT traders. The average transaction of this platform is nearly 2K USD, no doubt that this will increase extremely in the future.
Recently, Aphex Twin, the music composer created an NFT Token for his music album and that reached upto 72 ETH.
AtomicMarket is a marketplace built with multiple websites where NFT listed in one market is also available for another market which implies Liquidity sharing. It supports atomic assets built on ESIO blockchain. Anyone can create NFT’s, buy/sell assets by making use of Atomic asset Standard. It provides a verified check mark for all the tokens to reduce the fraud which in turn builds traders’ trust.
This Platform was launched in the year 2021 and gained volume up to 33,690,000 USD. Which is designed as the independent of its network parent. Users are allowed to launch their own Dapp on this site.
SuperRare has a strong focus on being an NFT marketplace for people to buy and sell unique, sole-edition digital artworks. Each artwork is authentically created by an artist in the network and tokenized as a crypto-collectible digital item that you can own and trade for making money. They describe themselves as being like Instagram meets Christie’s, offering a new way to interact with art, culture, and collectible on the internet.
Each artwork on SuperRare is a digital collectible– a digital object secured by cryptography and tracked on the blockchain. SuperRare has built a social network on top of the marketplace. As digital collectibles have a transparent record of ownership, they’re perfect for a social environment.
All transactions are made using ether, the native cryptocurrency to the Ethereum network.
At the moment, SuperRare works with a small number of hand-picked artists; however, you can use a form to submit your artist profile to get on their radar for their upcoming full launch.
Myth Market is a series of convenient online NFT marketplaces supporting various digital trading card brands. At the moment, its featured markets are GPK.Market (where you can buy digital Garbage Pail Kids cards), GoPepe.Market (for GoPepe trading cards), Heroes.Market (for Blockchain Heroes trading cards), KOGS.Market (for KOGS trading cards), and Shatner.Market (for William Shatner memorabilia.)
BakerySwap is a smaller NFT marketplace as compared to OpenSea, but that’s not entirely surprising; where most NFT marketplaces are built on Ethereum, BakerySwap is one of the first to be launched on Binance Smart Chain (BSC). The NFT marketplace makes up one section of the platform, which also allows users to trade and swap liquidity assets directly with each other.
The NFT marketplace is straightforward enough, with the usual MetaMask connection required. Note that because this platform is run on the Binance Smart Chain, NFT assets can only be purchased with BNB, as opposed to the more common ETH.
Binance NFT Marketplace
Binance NFT marketplace is, an NFT platform provided consideration of the world’s largest crypto exchange, Binance. The company aims to provide an NFT marketplace with exclusive offerings and partnerships, attracting the exchange’s challenging user base to its NFT platform.
If you’ve already got a Binance account then you’ll be pleased to hear it’ll automatically work with Binance NFT. Once you’re in, it’s as easy as bidding on any assets that catch your eye. You can use ETH, BNB, and BUSD, depending on what the creators have listed.
Nifty Gateway has a powerful sponsor in the form of crypto exchange Gemini, which acquired the platform back in 2019. It has proved to be a perceptive move; amid the NFT boom, Nifty Gateway made headings with one of the first multimillion-dollar NFT sales, brokering the sale of Beeple’s CROSSROAD for $6.6 million in February 2021. By May, the platform had hit $300 million in gross merchandise value.
The platform offers a seriously curated selection of NFT drops, on a tri-weekly schedule, playing host to artists including The Weeknd, Grimes and Eminem. It also has a marketplace where you can browse curated NFT collections, verified artists and a broader selection of work from unverified artists.
Getting started is a fairly streamlined process thanks to Nifty Gateway’s close integration with Gemini. First up, you’ll need to register for the site (and verify your identity using Stripe, if you’re planning to sell NFTs). You’ll need to load up your account with some funds, either by linking a credit card or by sending ETH to the given ETH address. Once that’s done, you’re then ready to buy and sell NFTs from the marketplace.
You also have the option of linking your Gemini exchange account with your Nifty Gateway account, enabling you to use your Gemini exchange account balance for purchases and withdrawals (your Gemini account can be topped up using bank transfer, wire transfer, crypto deposits and trades).
Aavegotchi is launched by the team of Aave in the year 2020. with the axiom of providing new alternatives in the yield farming. It is a build on Ethereum Blockchain it generates tokens from Aave. It is a seamless combination of Defi and NFTs which provides long term profits and good ROI. Aim of this platform is to make a use of yield farming and Defi in the creation of NFT Token. Aavegotchi is developing the overall blockchain gaming platform. It allows users to buy/ sell NFT Aavegotchis and other NFTs on the platform.
Hope this article provided you with the basic knowledge about NFT marketplace and also the top most NFT marketplaces you can look into for 2021 and beyond.