NFTs have been around for several years now, but they have only recently started to gain mainstream attention. This is largely due to the explosive growth of the gaming industry, which has seen the rise of digital collectibles such as in-game items and digital artworks.
With the development of the Non-Fungible Token (NFT) technology, there are a lot of NFT marketplaces that provide a space for their users to trade or resell their digital assets. I have listed fifteen of best NFT marketplaces allows users to trade, sell and purchase Virtual Digital Assets.
We have covered all those 15 marketplaces in detail with their descriptions, pros, cons, blockchain technology, and the accepted currency.
An NFT is a non-fungible token, which means it cannot be interchanged with other tokens of the same type. NFTs were created to address the issue of fungibility in digital assets. Fungibility is the property of a good or asset that determines whether it can be replaced by another identical good or asset. For example, one Bitcoin (BTC) is interchangeable with another BTC. This is because they are both fungible tokens; each BTC has the same value as any other BTC.
NFT marketplace is a digital space where people can buy, sell, or trade their non-fungible tokens (NFTs). Some popular examples of NFTs include crypto artworks, in-game items, and other virtual collectibles.
These marketplaces usually work by taking a small percentage fee from each transaction made on their platform—much like how traditional online marketplaces like eBay or Amazon operate. In return for this service, they offer buyers and sellers a safe and secure space to interact with one another without having to worry about scammers or fraudulent activity.
We have scanned all the NFT marketplaces to create, sell or buy NFTs, and sorted out these 12 Best NFT Marketplace list. We have carefully selected every marketplace based on their security, versatility, gas charges, technology, major crypto currencies and ease of use.
Note: NFT marketplaces are not placed in ranking order.
OpenSea is the world’s biggest NFT marketplace accounting for over 80% of the world’s NFT transactions. OpenSea has creators and users from all around the globe with its multi-blockchain and 150+ cryptocurrency support. OpenSea also offers secondary sales and extensive customization, and is quite beneficial for artists to create unique VDA’s.
Blockchain Technology: OpenSea supports multi blockchain technology based on Klaytn, Ethereum, and Polygon.
Cryptocurrency Support: OpenSea supports more than 150+crypto, including ETH, BTC, DAI, USDC, and more.
Pros:
Cons: Doesn’t support credit card payment
Foundation is a popular free NFT marketplace, where creators can list their artwork without any upfront fees. It allows creators to easily navigate, auction and sell any type of NFT. It hosts more than 170,000 artworks, including the art of some of the most popular artists like Vasjen Katro.
Blockchain Technology: Foundation uses the Ethereum blockchain technology.
Cryptocurrency Support: Foundation supports ETH and ERC20 tokens.
Pros:
Cons:
Rarible is one of the most popular NFT marketplaces with a wide range of features for both creators and buyers. It has a comprehensive marketplace that supports multiple languages with gasless and lazy minting options. Users can even buy, sell and mint items like memes and games.
Blockchain Technology: Rarible uses the Ethereum blockchain technology.
Cryptocurrency Support: Rarible has its native token called $RARI. Users can also use Flow, Ethereum, Tezos and Polygon to execute transactions.
Pros:
Cons: 2.5% transaction charges of the sale value for both buyers and sellers
Nifty Gateway is one of the few closed NFT marketplaces. It directly collaborates with companies and artists to create limited-edition collectibles. Nifty Gateway doesn’t require any cryptocurrency and buyers can use credit card/debit cards to pay for NFTs. It is one of the best marketplaces for individuals who want to create their own premium and limited-edition tokens.
Blockchain Technology: Nifty Gateway uses the Ethereum blockchain technology.
Cryptocurrency Support: Nifty Gateway supports fiat money like US dollar, Pound Sterling, euro, etc.
Pros:
Cons: Difficult for new creators to feature their tokens
Mintable is a powerful NFT auction platform that allows creators to future their tokens, images, audio or video on the dashboard and lets collectors place bids on it. It also boasts an impressive partnerships with some of the biggest names in the industry like Palm NFT studio, which gives it an edge over its competitors.
Blockchain Technology: Mintable also uses the Ethereum blockchain technology
Cryptocurrency Support: Mintable supports Ethereum and Tether.
Pros:
Cons: Limited number of crypto wallet integration
Although Binance is one of the leaders in crypto exchange around the globe, it is a recent entrant in the world of NFT marketplaces. It is built on Binance smart chain technology with a closed and centralized NFT ecosystem. Binance offers super easy integration for creators and NFT collectors through its own wallet making a comprehensive VDA exchange platform.
Blockchain Technology: Binance NFT marketplace is built on the (BHC) Binance Smart Chain Blockchain. It has also recently moved towards multi blockchain technology.
Cryptocurrency Support: Binance supports Binance Coin (BNB), Binance USD (BUSD) and Ethereum (ETH).
Pros:
Cons: Limited variety of NFTs
BakerySwap is a DeFi-based NFT exchange website that allows users to mint, buy, sell, and auction a variety of NFTs. It offers a wide variety of gamification and emerging artists’ NFT. It also conducts various contests for curated token listing and auction.
Blockchain Technology: BakerySwap is built on the Binance Smart Chain (BSC) blockchain technology.
Cryptocurrency Support: BakerySwap supports Binance Coin (BNB), Binance USD (BUSD), and its inbuilt Currency BAKE coins.
Pros:
Cons: Not a huge NFT exchange for buyers and creators yet.
Coinbase NFT is one of the best NFT platforms. It is extremely versatile and user-friendly, making it a great choice for both buyers and sellers. Coinbase charges no gas fees, making it very affordable. Additionally, Coinbase supports a variety of major cryptocurrencies, making it a great choice for those who want to use crypto to buy or sell NFTs.
Blockchain Technology: Coinbase NFT marketplace is built on the Ethereum blockchain technology.
Cryptocurrency Support: Coinbase supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Binance Coin (BNB).
Pros:
Cons: Still in the development phase
SuperRare is a well-known name in the world of crypto art. The platform allows artists to upload and sell their digital creations as unique collectibles. Each work of art sold on SuperRare comes with its own individual smart contract that ensures provenance and rarity. This makes SuperRare an excellent choice for both artists and collectors alike.
Blockchain Technology: SuperRare is built on the Ethereum blockchain technology.
Cryptocurrency Support: SuperRare supports Ethereum (ETH).
Pros: Smart contract that ensuring provenance and rarity.
Cons: There is currently no way to purchase artwork directly with fiat currency.
Zora is another lesser known NFT buying and selling platform that supports all major cryptocurrencies, making it an excellent choice for regular NFT collectors. Additionally, Zora offers a wide range of Art NFT and VDA collectibles and allows creators to make their own category of collections in the marketplace.
Blockchain Technology: Zora is built on the Ethereum blockchain technology.
Cryptocurrency Support: Zora supports Ethereum (ETH) and other Fiat payment methods like cards.
Pros: Allow to buy through Credit Card, debit card and even PayPal
Cons: No resell and royalty earning options for traders and creators
Larva Labs is an extremely user-friendly and offers a wide variety of unique NFTs. Uniqie Crypto art projects like CryptoPunks, Autolyphs, and 3D voxel character make it a niche NFT marketplace. the NFT marketplace website also offers some no-free trading collectibles like Meebits.
Blockchain Technology: Larva Labs is built on the Ethereum blockchain technology.
Cryptocurrency Support: Larva Labs supports Ethereum (ETH)
Pros:
Cons: No NFT Marketplace App for smartphones
WazirX is India’s largest crypto exchange platform in India. WazirX NFT marketplace website allows users to create, mint, buy, sell, auction, collect or trade a variety of NFTs, including crypto artworks, in-game items, and other virtual collectibles. It is a top NFT platform among Indian creators and collectors due to easy east fund transfer using Net banking and Mobi Kwik.
Block Chain Technology: It is based on BSC (Binance Smart Chain) blockchain technology, which is more efficient and cheaper than other ETH chains.
Cryptocurrency Support: WazirX has its own native token, WRX, which is used to purchase, sell or pay trading fees on the platform.
Pros:
Cons: Invite only platform, making it difficult for new creators to enter.
Conclusion
These were the top NFT marketplace website for artists and collectors to mint, buy, sell, auction, and collect NFTs. Each platform has its own unique features and benefits that make it stand out from the rest. There are a few considerations that you should keep in mind before choosing your marketplace like wallet integrations, blockchain technology, gas fees, etc.
FAQs
The best marketplace for to sell or buy NFT will vary depending on your needs and preferences. However, some of the most popular NFT marketplaces include SuperRare, Zora, Larva Labs, and WazirX.
Selling an NFT means that you are selling a digital asset that is stored on a blockchain. This can include artworks, in-game items, and other virtual collectibles transferred to other person without giving up the ownership in exchange for a specified amount.
NFT marketplaces can be profitable for both the marketplaces themselves and the creators/traders that use them. For marketplaces, NFTs provide a unique and popular product that can attract users and generate commission fees. For creators/traders, NFTs can provide a way to monetize their digital creations in a relatively new and innovative way.
A variety of NFTs can be purchased from several different marketplaces. Some of the most popular include SuperRare, Zora, Larva Labs, and WazirX.
The most expensive NFT ever sold was Pak's 'The Merge’ at a price tag of $91.8 million.
It can be easy to sell NFTs depending on the marketplace you are using and the popularity of the NFT you are selling. For example, some marketplaces may have more buyers interested in purchasing artworks while others may be focused on in-game items. In general, the more popular the NFT is, the easier it will be to sell.
NFTs are digital assets that are stored on a blockchain. This can include artworks, in-game items, and other virtual collectibles which can be transferred, purchased, sold or modified without tampering the ownership.
No, you do not need a crypto wallet to mint NFT. However, if you want to sell or trade your NFTs, you will need to a private key to unlock your access, which is when you need crypto wallet.
Minting is the process of creating a new NFT. This can be done on a variety of different platforms and typically requires the use of a crypto wallet. Once an NFT is minted, it can be sold, traded, or collected like any other digital asset.
Gas fees are the amount of money that is required to mint, sell, or trade an NFT. These fees go to the blockchain network to verify and confirm the transaction.
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