If you want to experience the NFT craze, then the marketplace for NFT is your gateway to participate in the buy and sale of these virtual assets that range from art to music to the complete digital world. Think of the NFT marketplace as your Amazon platform for digital assets. There are numerous NFT marketplaces that prevail presently, and many among them have a specified aim or niche. Let us have a look at some of the best non fungible token marketplaces that you can choose for your operations.
Selecting NFT Marketplaces
First, remember that a non-fungible token (NFT) simply portrays ownership of an asset. Before selecting an NFT marketplace, you will first want to determine the type of digital asset you are interested in purchasing, selling, or designing. Just about anything virtual, the written word, video games, art, videos, collector’s items, etc. can be tokenized on a blockchain, so determining your interest is a good place to initiate.
Another consideration is the form of tokens that are supported in a marketplace. Some support a huge variety of tokens. Others are closed marketplaces and use a specific ownership token. When creating an NFT marketplace account, remember to fund your blockchain wallet with the correct crypto or token needed to take part in the activity of the site. You will be asked to link your wallet to the NFT marketplace once you have opened up an account. Also, ensure to see what kind of security the marketplace offers and if it has had any problems in the past.
Top NFT Marketplaces You Should Consider
Now that the idea of NFT marketplaces is clear and you know how to choose the right marketplace for your NFT, let us have a look at some of the top NFT marketplaces that are worth selecting. If you wonder how many NFT marketplaces are there, then there are numerous, but we will be discussing the top 5 among them.
OpenSea stands in the top position in NFT sales. This platform has all types of digital assets accessible on its platform, and it is free to sign up and browse the extensive services that it offers. It also supports creators and artists and has an easy-to-use process if you wish to design your own NFT. This process is known as “minting”.
This marketplace supports over 150 varied payment tokens, so the name of the platform is appropriate. For an introduction to the world of NFT, OpenSea is a great place to begin. This is the best NFT marketplace for artists.
This is among the biggest NFT marketplaces. Axie Marketplace is the digital shop for the video game Axie Infinity. Axies are mythical beings that can be bought and trained and then pitted against other Axies of the player to earn rewards. On Axie Marketplace, players can purchase new Axies, along with entire lands and other products, as NFTs for use within the game.
Axie Infinity tokens are constructed on the Ethereum blockchain. As such, they can be purchased and sold on various other NFT marketplaces, along with some digital currency exchanges like Coinbase Global (NASDAQ: COIN).
Larva Labs Or CryptoPunks
The next in the NFT marketplace list is Larva Labs. It is famous for the viral CryptoPunks NFT project. They were mainly given away for free in 2017, but some CryptoPunks have been sold for millions of dollars since then. Larva Labs offers other digital art projects such as Autoglyphs, along with other Ethereum blockchain-based applications development projects.
The CryptoPunks NFTs of Larva Labs are sold out, but they can be bid on and purchased from different third-party marketplaces. Still, various projects of Larva Labs are worth keeping tabs on that include the Meebits, which can be bid on directly from the built-in marketplace of the company
Rarible is another big marketplace for all kinds of non fungible tokens, same as OpenSea. All kinds of art, collectibles, videos, and music can be purchased, sold, or designed on the platform. However, unlike OpenSea, the user will be required to use the own token of the marketplace that is Rarible (CRYPTO: RARI) to purchase and sell on the marketplace. Rarible is constructed on the Ethereum blockchain.
The entity has partnered with some renowned companies. Yum! Brands (NYSE: YUM) Taco Bell has listed its art on Rarible, and cloud software giant Adobe (NASDAQ: ADBE) lately partnered with Rarible to aid in securing NFT artists and creators’ work.
Similar to the previous one, SuperRare is also creating a marketplace for digital artists. The NFT marketplace website includes videos, art, and 3D images, but collectors can buy artwork using Ether.
SuperRare recently declared its own token of the same name that is based on the Ethereum blockchain. The tokens will be available to find and curate the latest talent for the marketplace. Like Rarible, SuperRare NFTs can also be purchased and sold on OpenSea.
The Bottom Line
NFT marketplaces are your avenue to begin investing in digital assets, art, and collectibles but there are lots of choices out there. Be sure to select the one that suits your purchasing and storage requirements that are based on the form of NFT you are after and the crypto you are interested in using for transactions.