When getting into the NFT game, one first asks what is the best place to buy NFT. Or Where do I buy NFT? Well, the answer to that is quite easy. There are many NFT Marketplaces surging the internet and competing against each other for the number one spot. Yet, not all Marketplaces have the same popularity because some users prefer specific markets over others. Let’s dig in.
What is an NFT Marketplace?
An NFT Marketplace is an online platform where users can buy, trade, and sell NFTs(Non-Fungible Tokens). In Marketplaces, NFT creators can mint and list their digital assets as NFTs by setting a prior utilizing the auction format for future buyers.
Collectors and investors can browse and discover NFT collections, and purchase using Cryptocurrencies. Moreover, NFT Marketplaces often include features such as curation, community engagement, and a secondary market function, allowing users to resell the NFTs they own.
NFT Marketplaces usage has grown considerably, attracting artists, creators, collectors, and investors from all over the world.
Top 10 NFT Marketplaces
There are multiple platforms that serve as NFT marketplaces and secondary marketplaces, but only a few make the cut.
1.OpenSea
The largest and most popular NFT Marketplaces. OpenSea was founded in 2017 and has gained major popularity and user adoption in the NFT space. OpenSea functions on the Ethereum Blockchain, allowing users to buy, sell, and discover a huge variety of digital assets as NFTs.
It provides several features and tools to enhance the user experience. This includes bidding options, fixed price listings, auctions, and the ability to create and participate in collections of NFTs.
Moreover, OpenSea allows users to resell the NFTs they own. OpenSea deals with multiple Cryptocurrencies with the main one being Ethereum (ETH). It has also expanded to support other Blockchains, such as Polygon. One of the best features of this Marketplace is that it offers Gas-free minting.
2. Blur
Blur is an NFT Marketplace with zero fees. It launched in October 2022 to serve professional NFT traders’ every need. It raised $14 million from world-class investors and NFT traders. Unlike others, Blur was designed specifically for pro traders with specific needs.
Moreover, it even became more popular before its official launch, as Blur gave many promises to traders. Such as faster NFT sweeps, better trading fees, a sorting function, and a more intuitive interface than other Marketplaces.
In addition, Blur touches on a controversial topic with its creator’s royalties choice as it allows the creators to choose the percentage they prefer.
3. Rarible
Rarible is a decentralized NFT Marketplace where creators and users are able to mint, buy, sell, and trade NFTs directly on the Ethereum Blockchain. The Rarible Launch took place in 2020 and has gained popularity as an alternative platform for artists, collectors, and creators in the NFT community.
Rarible uses Blockchain technology to allow users to have full ownership and control over their NFTs. Thus, creators can mint their own NFTs without needing to get approval from a centralized authority.
Rarible uses a native utility token called $RARI, which users can utilize to gain benefits such as free discounts and voting rights for platform governance decisions.
4.SuperRare
SuperRare is a Marketplace that focuses on digital art. SuperRare houses a curated collection of limited-edition and unique artwork by artists from around the world. It functions on the Ethereum Blockchain, which allows artists to mint their digital creations as NFTs and sell them to collectors directly.
SuperRare incorporates social elements, where artists and collectors are able to engage with each other. Artists are also able to interact with their audience and receive feedback and support from them.
Moreover, SuperRare offers a social feed where users can engage with each other and share their enthusiasm for their favorite digital art.
SuperRare gained its reputation for its curation process, which aims to contain a high level of quality and originality.
5. Binance
Binance NFT is an NFT Marketplace by Binance, one of the largest cryptocurrency exchanges globally.
It launched in June 2021 and aims to offer a wide range of digital assets which includes art, collectibles, in-game items, and more. It uses the Binance Blockchain, which is based on the Binance Smart Chain(BSC) and the BEP-721 token standard for NFTs.
Moreover, Binance NFT provides an array of features like “Premium Events” where high-value NFTs are auctioned. “Mystery Boxes” containing random NFTs, and “Lucky Drops” where users will have a chance to win NFTs using a lottery system. In addition to the cool features, it offers collaborations with renowned artists, celebrities, and brands to release exclusive and limited-edition NFT collections.
6. Nifty Gateway
Nifty Gateway is well-known for its collaborations with well-known artists, musicians, and celebrities. It offers a platform for artists and creators to sell and show their digital artwork as NFTs, allowing creators to purchase these unique pieces.
Nifty Gateway launched in 2018 and focuses mainly on digital art and collectibles. This platform aims to make the process of buying, selling, and managing NFTs convenient and user-friendly.
Moreover, it has a curated section of high-quality NFTs, including limited editions, open editions, and timed releases. Nifty Gateway has many features, but one of the unique ones is its “drops” model, where artists release a collection of NFTs at a specific time and date. The drops frequently create a sense of anticipation and can include exclusive or rare items.
This platform operates on the Ethereum Blockchain, and transactions usually involve the use of Ether (ETH).
So, which of these NFT Marketplaces do you prefer to use on your NFT journey?