NFTs (Non-fungible tokens) are digital assets in form of music, art, videos, etc. that can be traded. When you talk about the NFT marketplace, however, it’s simply an online store to buy or sell these digital assets.
How to Choose an NFT Marketplace
It is not simple many times to choose an NFT marketplace in 2022 because there are many factors to consider.
Many NFT marketplaces have flooded the internet in the last 5 years. Some of these marketplaces have a specific niche or focus. For example, NBA Top Shot is for video clips and plays highlights of basketball as NFT. There are also those that focus on one is to one artists, personal works, and works of fine art.
NFTs also vary by Blockchain; the blockchain records transactions made with Cryptocurrencies. Ethereum and Solana are the most common blockchains where most marketplaces are launched. You have to consider this too.
You should also consider the Royalty fee and know if it works well for you.
There are many other factors. So you should consider some of these things before deciding to buy or sell NFTs. Below are some of the top NFT marketplaces from relative Blockchains.
It’s a marketplace founded in 2017 where users trade their digital collectibles. In OpenSea there are all kinds of collectibles just like the physical market, you can do whatever you want with them, you can sell or gift them to friends. For beginners, you are allowed to create your profile and collections where you list your NFTs for sale. It is also the first and largest marketplace for NFTs with over 200 employees, 2M collections, over 80M NFTs, and a $20B trading volume.
NBA Top Shot Market Place
Just as the name suggests, National Basketball Association is an NFT Market place for Basketball lovers. This marketplace allows you to buy and sell video clips or highlights of great moments in basketball history as NFTs. It was launched in 2020 as a partnership between the NBA and Dapper Labs, creators of CryptoKitties.
Foundation is an NFT marketplace launched in 2021 for creators and collectors. It is built on Ethereum Blockchain and the user must have a Web 3.0 wallet like MetaMask to transact on the platform. For you to start selling on Foundation, you will set a price for your collectible called Buy Now price, and anyone on the platform can see your creation and start bidding.
Binance NFT marketplace was added in 2021 by Binance, to trade all forms of digital artworks, gaming items, and collectibles. The Binance Nft marketplace is built on its BSC Blockchain and deducts a 1% trading fee. Buying NFTs in the BNB Market can be done during the NFT auction or you can just make an offer to the seller directly.
Axie Market Place
Axie Market Place is an NFT marketplace for the play-to-earn game called Axie infinity. In this marketplace, you can buy Axies, land, and other in-game items for playing the game.
Rarible is one of the marketplaces where all kinds of Nfts can be bought or sold. It is similar to Opensea, but the difference is that in Rarible you will need the marketplace’s own token RARI as well as Ethereum to buy or sell. It was founded by Alex Salnikov in 2020. Rarible allows you to switch to different blockchains, depending on the one you want to trade on. These blockchains are Ethereum, Polygon, Solana, Flow, and Tezos.
Nifty Gateway is a digital marketplace for lovers of artwork and artists, where they can buy and sell digital artworks and collectibles. In Nifty Gateway, you get a commission on sales or purchases of your artwork and you can pay with your debit card, credit card, or Gemini Balance. it was founded in 2018.