The value of the NFT market has surged in recent months, attracting a lot of interest from the financial community. NFT marketplaces are a great starting point if you want to invest in digital assets, collectibles, or art. And with the growing demand for NFTs, there has been a rise in NFT marketplaces as well.
Learn everything about the NFTs and the 14 best NFT Marketplace that you must consider.
NFT & NFT Marketplace
Before getting into the details of an NFT Marketplace, it’s best to brush up on the basics of NFTs.
So what are NFTs? NFTs stand for non-fungible tokens, and these are basically blockchain-based digital assets. These are unique items that have particular metadata attached to them.
NFT Marketplaces are a hub where NFTs are created and sold. These are essentially platforms where NFTs are exchanged, kept, exhibited and in certain cases, minted.
NFTs can be purchased on a number of different marketplaces. But how can you choose the best NFT Marketplace? Let’s find out.
Choosing The Best NFT Marketplace
If you're wanting to invest in NFTs, make sure you pick the best one that suits your investment goals. It depends on the NFT creator to decide whether to set a fixed price or open it up to bids.
The first thing to consider is that NFT is a wallet-specific platform and crypto money to buy something in digital currency.
NFT, being a relatively new technology, has a significant demand for it. There are many distinct varieties of NFTs and they are issued in the market as drops or events when various tokens are distributed.
List Of The Top NFT Marketplace
Here’s a list of the best NFT Marketplaces:
- Axie Marketplace
- Larva Labs/CryptoPunks
- NBA Top Shot Marketplace
- Binance NFT Marketplace
- Theta Drop
When it comes to NFT Marketplaces, OpenSea leads the pack. OpenSea's platform has a wide range of assets available, and it's completely free to sign up and view the vast selection. It also helps artists and creators, and there's a simple technique for minting your own NFT.
The platform's name is appropriate because this particular marketplace supports over 150 different payment tokens. OpenSea is a fantastic place to start if you're new to the NFT domain.
How To Use OpenSea?
- Plug in a Web3 wallet (MetaMask, for instance)
- Browse OpenSea
- Auto-scan your wallet for all of your collectibles as well as the assets you'll need to buy products on the marketplace (such as Ether)
- You may now either:
- Submit a bid — presuming the seller hasn't established a price
- Accept the list price when dealing with listed products, similar to eBay's Buy Now function.
- Place your listing and note the assets, since this might change from item to item
- If your transaction was successful, you’ll get an email after the listing has been placed.
2. Nifty Gateway
Nifty Gateway, one of the first names of huge NFT markets, has a significant supporter in the shape of cryptocurrency exchange Gemini, which purchased them in 2019.
In February this year, Nifty Gateway made waves during the NFT boom by mediating the sale of Beeple's CROSSROAD for $6.6 million, which was one of the first multimillion-dollar NFT deals.
How To Use Nifty Gateway?
- Visit the Nifty Gateway market
- Pick the Nifty of your choice
- Enter your credit card information and click the "Purchase" button.
3. Axie Marketplace
The third name on the list of the best NFT marketplace is Axie Infinity. Axie is the 2nd largest NFT marketplace and is supported by the video game Axie Infinity. Its overall trade volume has crossed the $2 billion mark on Dappradar.
Axie Marketplace only deals in Axies, which are adorable digital creatures (comparable to Pokémon) that can be purchased and sold by gamers on the Axie Marketplace.
How To Use Axie Marketplace?
- Create an AXS supported account
- Add funds to your account. You’ll have two choices for this:
- Bank transfer
- Add crypto from your crypto wallet
- Buy AXIE
After you’ve completed your purchase, you must choose a secure wallet to store your AXIE.
4. Larva Labs/ CryptoPunks
Larva Labs is primarily known for its iconic and recognizable CryptoPunks NFT project. It is a collection of 10,000 random pixel art-based characters and was one of the first implementations of non-fungible tokens on Ethereum.
CryptoPunks were initially given away for free in 2017, but some have subsequently sold for millions of dollars.
How To Use CryptoPunks?
- Purchase a listing using cryptocurrency from your Ethereum wallet.
- You’ll be presented with two options:
- The buy or bid transaction will be completed through Ethereum's blockchain
- Finally, the NFT will be delivered to your Ethereum wallet once the seller accepts your bid.
SuperRare is a peer-to-peer marketplace for NFTs built on Ethereum, featuring digital artists that include art, films, and 3D imagery. Collectors, on the other hand, may buy the artwork with Ethereum.
SuperRare advertises itself as "Instagram meets Christie’s". The comparison is apt, as it is indeed a high-end alternative to the top NFT marketplace.
SuperRare has now released its own Ethereum-based currency of the same name. The tokens will be used to help the platform find and curate new talent.
Only a tiny number of hand-picked artists are let onto the platform, which is still under early access. Fill out the form on their website to submit your artist profile and you can be on their radar for their major debut next year.
How To Use SuperRare?
All SuperRare transactions must be completed in Ether
- They purchased on any cryptocurrency exchange
- Connect to the SuperRare platform via MetaMask in order to interact with the marketplace.
6. NBA Top Shot Marketplace
The list of best NFT marketplace would be incomplete without NBA Top Shot Marketplace. The National Basketball Association and the Women's National Basketball Association have embraced the NFT realm with NBA Top Shot.
Collectible moments (video clips and play highlights) and art from the world's top basketball leagues may be acquired on its marketplace. You may buy collectible moments for as low as a few bucks.
How To Use NBA Top Shot?
- Look for the moment you want to buy
- Determine which one fits your budget
- Press the buy button, pay the price, and get the moment
MakersPlace is a marketplace for discovering and collecting unique digital works. It is proud to feature exclusive artists, photographers, authors, and others, as well as the tools to protect and sell their work to fans and collectors.
T-Pain, Shakira, and Tom Morello of Rage Against the Machine have all signed up to use the site. Every sale generates a 15% fee for the platform, while creators receive a 10% royalty as a commission when their work is resold on the site.
MakersPlace aims to provide a system that makes blockchain technology simple and accessible to all artists.
How To Use MakersPlace?
- Create an account on MakersPlace as a collector.
- Browse the Discover portal to find new and popular artworks and artists.
- You can purchase paintings with a credit card or ETH. You can use major digital wallets for ETH purchases, including MetaMask, Coinbase, TrustWallet, and others.
Rarible is an Ethereum-based community-owned platform. It is one of the top NFT marketplace and it offers a broad variety of digital collectibles and art. On the site, you may buy, sell, or produce all sorts of art, movies, collectibles, and music. The artwork can be managed on OpenSea as well using Rarible tokens.
RARI, the platform's own cryptocurrency, is used. RARI is the first governance token in the NFT space, allowing Rarible's most active producers and collectors to vote on platform updates as well as engage in curation and moderation.
How To Use Rarible?
- Go to Rarible and log in to your MetaMask wallet.
- Click the "connect" option on the platform.
- Accept Rarible's terms of service by checking the boxes and clicking the "Continue" button.
- If you're interested in a certain asset, click the "buy now" button to purchase it or put a bid on it.
Note: You must authorize the transaction on your MetaMask wallet after hitting the "purchase now" button. On your MetaMask wallet, a pop-up notice will display, allowing you to view and alter the gas fee.
Foundation was created as a straightforward, easy-to-use method of bidding on digital art. Since its inception in early 2021, the marketplace has sold over $100 million in NFTs. Foundation has already achieved significant success, with the $590,000 sale of the viral internet meme Nyan Cat.
By letting artists pick and invite other artists to join the site and mint NFTs, the Foundation is embracing a creator-first, community-led approach. The community invites artists to join the platform, and purchasers just need an Ethereum-funded crypto wallet for getting started.
10. Binance NFT Marketplace
Binance NFT marketplace is, as the name suggests, an NFT platform hosted by Binance, the world's largest crypto exchange. This is one of the top NFT marketplace that intends to provide unique offers and collaborations in order to entice the exchange's large target audience to its platform.
If you are already a Binance user, there’s good news for you! You can use your Binance account with Binance NFT instantly. Depending on the creator’s specifications, you can use ETH, BNB, or BUSD.
How To Use Binance NFT Marketplace?
- Create a Binance account.
- Complete the verification process.
- Make a deposit or purchase cryptocurrency.
- Use the Binance NFT Marketplace to trade NFTs.
11. Theta Drop
Theta is a blockchain platform for decentralized video and television distribution on the internet. Theta Drop, a new NFT store, debuted with digital artifacts from the World Poker Tour.
The World Poker Tour was an early adopter of ThetaTV and now streams programming on the network. So how can you be a part of Theta Drop?
- The first step to participate in Theta Drop NFT is to acquire Theta Token (CRYPTO: THETA).
- Theta is supported by a number of crypto exchanges, including Binance, and the tokens and NFTs acquired with them may be saved in a crypto wallet or in Theta's own crypto wallet software.
Mintable, which is funded by billionaire Mark Cuban, aspires to create a comparable open marketplace like OpenSea. You'll need Ethereum to participate in purchasing and selling NFTs on Mintable. The platform also allows creators of all kinds (from photographers to musicians) to mint NFTs in order to market their work as digital assets.
A potential NFT collector or creator must first acquire Ethereum on a crypto exchange. Next, they've to connect their wallet to Mintable to participate in the marketplace's bidding and buying.
How To Use Mintable?
- Choose the NFT of your choice
- Connect your wallet and add ETH to it
- Click on “Proceed to Pay”
- Now make the transaction from your wallet
BakerySwap, though not as popular as OpenSea and Rarible, is a much smaller NFT marketplace. So how did it make it to the list of the best NFT Marketplace?
BakerySwap was among the first NFT marketplaces based on Binance Smart Chain (BSC), whereas, most of the top NFT Marketplace are based on Ethereum.
One element of the site is the NFT marketplace. Here users can trade as well as swap liquidity assets directly with one another.
How To Use BakerySwap?
- Connect BSC wallet to BakerySwap.
- Select V2 Market from the NFT Supermarket interface on bakeryswap.org.
- Select the NFT you wish to buy
- Click the "Approve NFT Supermarket" button
- Click "Confirm" in the wallet
- Click Bidding, then "Confirm" after entering the price you want to pay for the artwork.
You can see your bid in the list when it has been submitted successfully.
Decentraland's vision is to pass over ownership to the people who create and engage in decentralized virtual space. Here users may create and earn money on the items they develop and own. In Decentraland, you may purchase and trade virtual lands and customize them with properties constructed on top of it, and your assets will be saved in an Ethereum-based smart contract.
The community may propose and vote on policy changes, future LAND auctions, whitelisting of NFT contracts using DAO, or Decentralized Autonomous Organization. Wearables, plots, estates, and names are among the digital assets available on Decentraland's marketplace.
How To Use Decentraland?
- Add the MetaMask extension to your browser.
- Create a Decentraland passport and password.
- Go to a cryptocurrency exchange and buy some ETH and MANA. Deposit it in your MetaMask Wallet.
- Visit Decentrland and use your MANA to claim a name, purchase land, and purchase accessories.
- As a transaction charge, you’ll also be charged some amount of ETH.
The Bottom Line
Depending on the sort of NFT you want and the crypto you want to use for transactions, make sure you pick the best NFT marketplace that meets your purchasing and storing demands.
It is to be kept in mind that NFT is a brand-new industry with a high level of risk. There's a chance that certain NFTs may skyrocket in value, but there's also a chance they can end up worth very little.
Digital art and collectibles have the same subjective value as real art and collectibles: value is decided by criteria such as uniqueness and the reputation of the artist who created it. It is best to consider your entire investment plan, net worth and investing time horizon when making an NFT purchase.