In the digital space discussion these past few years, nothing is as polarizing a topic as NFTs. People either adore them and all the possibilities they bring or hate them with a burning passion. One thing’s for sure, though, more and more aspiring investors, businesses, and budding crypto enthusiasts are seeing the value of NFTs and are hoping to join the game sooner rather than later.
And, really, who wouldn't be interested? Just last year, NFTs reached a market capitalization of $41 billion and a more than $30 million daily trading volume. Because of this exponential growth, all eyes are on the industry and its increasing number of marketplaces.
We've listed below the seven best marketplaces available today if you're curious about where you should buy or sell NFTs.
OpenSea has been in the game since 2017, making it one of the most long-standing players in the NFT market. Because of its experience, it is now one of the world's leading NFT marketplaces. Since its launch, it's also the platform that brought NFT trading to the mainstream audience. To add to its stellar record, OpenSea has the largest trading volume globally.
OpenSea allows users to create, buy, and sell various NFTs. These include digital collectibles, music, art, trading cards, virtual worlds, and other digital tokens.
OpenSea's platform is based on the Ethereum blockchain, and it has partnered with the Polygon network to reduce gas costs. In addition, users may access more than 700 NFT projects through the platform, with an incredible 80 million NFTs available to trade.
Furthermore, one of OpenSea's most significant advantages is that it supports over 150 different cryptocurrencies as payment. This allows investors to buy and sell NFTs with their crypto balance in a simple manner. OpenSea charges sellers a 2.5 percent transaction fee when their item sells, but the buyer pays nothing (other than standard network fees).
Alongside OpenSea is Crypto.com, one of the world's fastest-growing NFT platforms. The marketplace began solely with NFTs on the Crypto.com blockchain, but it has now been expanded to include the Ethereum blockchain. As a result, the number of NFTs available to buy and sell on this platform has considerably increased.
What sets Crypto.com apart from its competitors is that it offers some of the lowest feeds for buying and selling NFTs. In addition, when you purchase an NFT on Crypto.com, you won't have to pay any transaction fees. They only charge sellers and creators a fee of 1.99 percent, which is relatively low.
Another great feature of Crypto.com is the way it curates its collections into recommended galleries. This makes it easy to identify the most anticipated releases and digital art that will most likely appeal to you.
The platform also allows sellers to run auctions and offer a buy-now price. So, if you see an NFT you want, you can buy it right away rather than risk losing out to another bidder.
Compared to the first few platforms we mentioned, NFT LaunchPad is a relatively new NFT marketplace created by and for creators. It only launched in February 2022. However, because the platform has made it easy to create your own NFTs using formats like MP4, it has already attracted a number of designers and talents who are just getting started with their NFT journey. So if you’re looking for something new, NFT Launchpad is the best place to be!
The platform has an extensive collection of NFTs to choose from, and the great thing about NFT Launchpad is that it's easy to navigate through everything. Art, gaming, music, sports, collectibles, and more genres are available on this marketplace.
Creators can also mint numerous NFTs simultaneously, set their royalty structure, and sell at a fixed price or at an auction. Currently, the platform is compatible with MetaMask wallets, and support for Trust Wallet is well on the way.
If you're looking for a highly-recommended platform that offers low fees, look no further than Binance. As one of the most notable cryptocurrency exchanges in the industry, Binance has a leg up in buying and selling NFTs. The marketplace is also one of the largest NFT marketplaces, with a collection size of over 2.5 million.
Binance organizes its NFTs into trendy collections, making it easier to identify art you're likely to be interested in. Another exciting feature is its "Mystery Boxes." You don't even have to pick which NFTs you want to buy! These mystery boxes include a small number of NFTs from a single collection for a low, fixed price. So you might get a bunch of pretty standard NFTs, or you could get a few rare objects worth much more than you paid.
SuperRare is an Ethereum-based NFT platform that’s primarily a marketplace for consumers to purchase and sell one-of-a-kind, limited-edition digital artworks. Each piece of art is created by an artist and tokenized as a crypto-collectible digital commodity that you can own and trade. The platform provides a new way to engage with art, culture, and collecting on the internet.
Before anyone can place any digital artwork for sale on the platform, it must undergo a rigorous verification and approval procedure. SuperRare aims to foster creativity among the few established creators on its marketplace to guarantee that digital art collectors get the most out of their collections.
While SuperRare is not as eventful as all the other platforms listed above, it does have some pretty unique digital art pieces. However, one con of the platform is that it charges artists a steep 15 percent fee on direct sales.
Nifty Gateway has NFTs, which they call Nifties, built on Ethereum. The platform specializes in premium NFT drops or NFT releases with a limited number of assets. The site has featured a wide range of well-known musicians and creatives in the past, including Beeple, Steve Aoki, and Grimes. Nifty Gateway's selection is geared primarily towards high-end investors due to the strong demand for these NFTs.
Nifty Gateway isn't just an excellent platform for creators. It allows newcomers to the NFT market to purchase NFTs using a credit card, making it incredibly user-friendly. It also has open editions, which are NFTs that you may mint for a limited time for the base price. These limited editions are an excellent opportunity to acquire beautiful art without breaking your budget.
One thing to know about the platform is that it’s founded on a solid policy foundation that prioritizes innovation and authenticity. As a result, it is well-known for having one of the world's best verification process systems.
Rarible is a community-based NFT marketplace that allows users to purchase and sell various NFTs. In addition, the platform includes a user-friendly interface that will enable users to mint and trade NFTs easily.
The platform is a one-of-a-kind cryptocurrency exchange that supports three different blockchain networks: Ethereum, Flow, and Tezos. This multi-chain capability allows users to mint, buy, and trade NFTs from these viable blockchain platforms in the Rarible NFT marketplace.
If you're looking to discover new and unique NFTs, Rarible is the marketplace for that, as you can browse through trending collections, top sellers, and ongoing live auctions.
Rarible's prices are denominated in Ethereum, but users may also use the platform's Rarible token to make purchases. Both buyers and sellers pay a 2.5 percent transaction fee on the marketplace.
Saying NFT marketplaces are taking the world by storm is probably an understatement. With more and more platforms popping up every day, the industry will become even more competitive. So if you haven't joined the game yet, there's no better time to do so than now.
If you’re still at the very start of your NFT journey, don’t forget to learn everything you can about it. So gather your artworks and collectibles, and crack on displaying your works with Peaka's NiftyExpo!