The NFT craze that started in mid-2021 surprised the crypto community, and things continue to get crazier. NonFungible has taken it upon itself to track all the digital transactions in the NFT world. According to them, over seventeen billion dollars worth of NFTs were traded last year, a 21.3% increase from 2020.
The market has been gaining even more momentum in the current year. Millions of players have hopped on the bandwagon selling and trading NFTs. As a newbie bitcoin certification, this can seem overwhelming, and trading through unknown marketplaces may leave you vulnerable to scams.
Top 10 NFT Marketplaces
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We have compiled a list of the 10 best NFT platforms for you to trade NFTs. These platforms stand out because of their user-friendliness and credibility.
Devin Finzer and Alex Atallah are the brains behind OpenSea. They launched the platform’s beta version in December 2017, making it the first marketplace for NFT trading. Since then, the platform has kept growing and is currently the biggest NFT marketplace with more than twenty billion dollars worth of trading volume.
Using OpenSea, you can buy NFTs, or you can create and sell them. The platform supports fourteen wallets and more than a hundred and fifty cryptocurrencies. With the backing from some of the most prominent firms and investors, OpenSea has more than six hundred thousand users and more than eight million NFTs.
Launched last year in June, Binance NFT is a relatively new platform in terms of NFT trading. However, it has displayed tremendous potential on the front. In 2021, they managed to approve more than a thousand creators for their platform. During this time, Binance launched and listed more than two and a half million NFTs in various categories.
Unfortunately, Binance NFT only allows creators it has already approved to create NFTs. However, anyone can buy NFTs, and the platform doesn’t charge any listing fees. Binance also offers mystery boxes to spice up the NFT buying procedure.
The platform comes with a mobile app and 24/7 customer support, which adds to the convenience. The parent platform Binance is one of the largest cryptocurrency exchanges, so you can rest assured when it comes to the security of your assets.
Rarible is a Philadelphia-based NFT marketplace. Alexei Falin and Alex Salnikov own the company and launched it in 2020. The platform is only two years old but once the NFT market boomed, so did the company. By the end of 2021, the company had more than 2.1 million monthly users and over two seventy-three million dollars in lieu of trading volume.
Using Rarible, artists can create NFTs for free, which can then be sold or kept. You can even earn royalties for the NFTs you sell. Additionally, the platform is integrated with OpenSea, so the NFTs that you list will also be visible. Additionally, it supports six wallets, including Coinbase.
Despite functioning since 2016, Crypto.com launched its NFT portal in March 2021. However, it has still managed to get some significant achievements in a short time. By the end of March 2021, Crypto.com had collaborated with more than a hundred and fifty artists, including Snoop Dogg. They also launched two hundred and twenty NFT drops.
You can buy NFTs via card, bank transfers, and cryptocurrency through this platform. Crypto.com supports twenty cryptocurrencies. You can access the NFT marketplace after connecting your account to the app. If you are afraid of missing out on drops, you can subscribe for the latest news. Moreover, the platform is easy to navigate.
SuperRare is another US-based platform that has been active since 2018. The platform is a more exclusive NFT marketplace because it deals in digital art NFT and nothing else. SuperRare allows you to buy, sell, and mint NFTs. The platform only accepts payments made with Ether since it works via the Ethereum blockchain.
Since you have to pay for the NFTs in crypto, you will need to register a wallet. You can connect to the platform if your wallet is MetaMask, Wallet Connect, and Fortmatic. Afterward, you need to make an account and buy the NFT you want.
The fees for the platform are higher than most NFT platforms, and you have to pay Ethereum gas fees. Artists have earned upwards of one hundred and forty-eight million dollars, while the platform has generated eighty-seven million with secondary sales.
Larva Labs is actually a New York-based software company. However, in 2017, Larva Labs launched one of the first NFT projects, called CryptoPunks. They made ten thousand of these NFTs and gave nine thousand for free. The develops kept the remaining thousand and stopped production.
The scarcity meant that when the platform blew up in 2020, folks sold these NFTs for millions. Currently, people can buy these characters on the Larva Labs marketplace. Additionally, other projects like Meebits and Autoglyphs are worth keeping an eye on. The platform only supports MetaMask as a wallet, and the payments are made in Ether.
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Nifty Gateway
Nifty Gateway is an exclusive digital art and music NFT marketplace. Gemini, a cryptocurrency exchange, owns Nifty Gateway and launched it in 2018. The platform uses the Ethereum blockchain to mint NFTs, which they call ‘Nifties.’ They also use Gemini’s custody technologies to store the assets in a secured wallet. That way, you don’t have to pay gas fees.
You can buy NFTs through the curated or verified drops. In terms of payment options, you can pay through a credit card, debit card, prepaid Ether, or your Gemini Balance. If you want to connect your wallet, you will have to download the MetaMask extension.
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Foundation
Active since 2020, Foundation is a US-based NFT marketplace. Through Foundation, you can buy 3D art, images, and videos as NFT. Foundation works with famous NFT artists like Jack Butcher and acts as a curator for exclusive digital pieces. Foundation operates on Ethereum so that users can buy and sell NFTs.
Selling NFTs on this platform is another exclusive right. A current artist needs to invite you to sell. After that, you can sell your NFTs through auctions that last for twenty-four hours. The only payment option is Ether, and your wallet needs to be a web3 wallet.
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Mintable
Mintable is another NFT marketplace that was launched in 2018. Through Mintable, artists can create and sell NFT, while buyers can purchase them. The platform has over ninety-three hundred NFTs for you to choose from. The marketplace is based on the Ethereum blockchain.
As a creator, you have three options for minting NFTs. If you want to skip out on the gas fees, you mint the gas-free NFTs. However, they come with a five percent fee. The other options are traditional and printable NFTs which have a market fee of 2.5% and 10%, respectively. Creators can set a royalty fee from 5 to 10% for secondary sales.
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KnownOrigin
KnowOrigin is a dapp that has been active under Andy Gary, James Morgan, and David Moore since 2018. The marketplace allows you to sell and buy digital art as NFTs. Artists can create auctions to sell their NFT and have to pay 15% of the price to the platform. The artist can enjoy 10% royalties on their NFTs.
As a collector, you can buy videos, images, and GIFs. Since KnownOrigin doesn’t offer custodial services, you will move the NFT to your wallet after the purchase. Since the dapp works through Ethereum, it only accepts Ether as payment.
Conclusion
That is it for our list of the top 10 NFT marketplaces. Even though these marketplaces are as safe as they come, you still have to be careful about sharing your wallet information with third parties. Follow all the safety instructions that the platforms give you, and your assets will be safe.
Our first choice for purchasing NFTs is OpenSea. The platform offers various NFTs and charges relatively low transaction fees on each purchase. Additionally, it supports several cryptocurrencies and wallets, adding to the user’s convenience.