In 2021, NFTs witnessed explosive growth in both popularity and value. Celebrities, musicians, athletes, and digital artists all over the world hopped on the NFT bandwagon. An example of this popularity is a record-breaking sale of an NFT created by a digital artist called Beeple. His NFT was a digital collage and was sold for a whopping $69 million.
Even businesses aren’t far behind. Companies such as Nike, Gucci, IBM, MoonPay, and others also maximize NFTs. So, if you are wondering, “where can I buy NFTs”, this is the right spot as we have compiled a list of the top 10 NFT marketplaces where you can easily buy NFTs. But first, let’s look at the process of buying an NFT.
How to Buy NFTs?
Buying NFTs is a fairly simple process. Here are the four easy steps to buy NFTs:
A lot of NFTs are based on Ethereum. This means that the majority of marketplaces only accept ETH as payment. Buying ETH opens the door to all Ethereum-based NFTs.
To buy Ethereum, create an account on a crypto exchange such as Coinbase, Gemini, Kraken, and more. Or, you can set up a crypto wallet such as MetaMask. Once you are done with the setup, you can buy ETH and after the purchase, you can send them to your crypto wallet.
Set Up a Crypto Wallet and Fill It With Funds
A crypto wallet is essential when buying NFTs because it is a digital address where you store your cryptocurrencies. Choose a wallet that suits you the best and go to their official website, register, and open a wallet. After this is done, send ETH to the wallet that you bought from the crypto exchange.
Link Your Wallet To An NFT Marketplace
Now you have connected the wallet you just created with an NFT marketplace. The connection process may vary from marketplace to marketplace. Let’s take OpenSea—one of the best NFT marketplaces today—for example. To connect your wallet to OpenSea, you have to go to its official website, OpenSea.io, click on the wallet icon in the top right-hand corner, and follow the instructions to connect your wallet. Other marketplaces are going to have a different connection process.
Find and Purchase Your Favorite NFT
Once you have created your wallet and connected it to a marketplace, you have to find the NFT you’d like to purchase. Just perform a simple search on the marketplace by entering the name of the NFT, when the NFT shows up, click on it, and make the purchase.
Where Can I Buy an NFT? Top 10 Marketplaces
OpenSea is a peer-to-peer marketplace ideal for buying, trading, and selling rare digital goods such as collectibles, art, gaming items, and more. OpenSea claims to be the largest digital goods marketplace because it has a wide range of items in more than 200 categories. Moreover, the platform claims that it has the best prices for digital goods. OpenSea supports the trading of decentralized domain names, digital art, virtual worlds, trading cards, utility NFTs, sports NFTs, and much more.
AsynArt’s NFT marketplace allows its users to buy, sell, and create NFTs. Plus, the platform has programming options that allow creators to create dynamic NFTs that can change their behavior and appearance according to external events or conditions. Users can create and collect interactive NFTs, and artists can tokenize the individual layers of their art, be it video, audio, or photos.
Mintable is backed by billionaire investor Mark Cuban. The buying and selling qualities of Mintable make it similar to eBay. It is built on the Zilliqa and Ethereum blockchains and MetaMask is integrated into it so the buyers can set up the crypto wallet easily. With Mintable, creators can mint gasless NFTs, and it supports all types of musicians and photographers who are willing to sell their digital assets. Once a user creates a profile on the marketplace and funds their wallets, they can buy listed items or bid on items.
MagicEden makes the buying and minting of NFTs an easy and simple process. With its Launchpad feature, low fees, and a super supportive community, users can get all the help they need. MagicEden was originally built on the Solana Blockchain, but recently it expanded and went multi-chain. Now, it supports the Ethereum blockchain, which gives NFT buyers a few more options when using MagicEden.
What makes this platform unique is that there is no listing fee for NFTs, it charges only 2 percent on transactions, and minting NFTs is simple with its Launchpad tool. Moreover, it listens to feedback from the community and works to improve the platform.
Launched in 2021, Foundation is the perfect place for digital art enthusiasts, such as collectors and creators. Built on top of Ethereum, this platform has a massive selection of NFTs and ensures that the original creators receive their royalties. Foundation is a unique platform because artists are accepted only by invitation, but buyers can simply start buying NFTs by funding their wallet with Ethereum. Even though it was launched last year, it has already sold more than $100 million worth of NFTs.
If you’re wondering where you can buy NFT tokens, LooksRare is the place to go. It is a community-first NFT marketplace with a focus on rewarding collectors, traders, and creators. The marketplace is proud of the fact that it was founded by NFT people for NFT people.
It is built with modular smart contracts, which allows the platform to launch new features. Whenever someone buys or sells NFTs on LooksRare, they receive rewards in LOOKS, its native token. All fees generated by fees are paid to the staker. Additionally, royalties are paid to the creators at the time of sale.
Nifty Gateway is a popular NFT marketplace in the blockchain landscape. It fuses crypto-technology and collectible artworks to create a host of valuable, tradable assets with incredible investment potential.
It is a premier marketplace reserved for music and artwork managed by the Nifty team. This gives artists and musicians the opportunity to create and sell NFTs on the platform. Nifty Gateway welcomes NFT deposits, and you can become a Nifty creator and sell your artwork by applying on the website, submitting a questionnaire, and giving an interview before getting accepted.
It is a premier NFT platform that boasts a digital art collection worth $250M and $3M in artist royalties paid to date. In its first iteration, the core team hand-picked and approved artists to mint their works as SuperRare NFTs. It all changed in the second iteration when the platform introduced web-scale curation, allowing artists to independently run storefronts on the platform, and providing them minting contracts for artists to mint, promote, and sell their work independently to collectors. This move shifted SuperRare’s ownership of the network to the community.
It is a creator-centric NFT marketplace and issuance platform. Rarible uses its native token RARI to empower its users. Rarible users can easily create NFTs of unique digital items such as game items, artwork, and more on the platform. On top of that, it offers a fully-featured marketplace sorted and filtered using different categories for a seamless buying experience.
It is a decentralized application (dApp) that allows its users to trade in NFTs. This art platform operates on blockchain technology, allowing illustrators to mint and sell rare digital art. KnownOrigin creates partnerships with select artists who create rare digital artwork. Artists create ERC721-based non-fungible tokens and list them for sale or auction on the platform. Next, art collectors can either bid on or purchase the artwork.
Tips for Buying NFTs
- Lay out the reason behind your purchase: First, figure out why you’re making the purchase. It is evident that NFTs are valuable, and the NFT marketplace is full of uncertainties. Nevertheless, be clear about the reason behind your purchase.
- Research the artist and the NFT: As we mentioned before, the NFT marketplace is full of uncertainties. One such uncertainty is a scam. Before buying an NFT, do some research on the seller, such as whether their marketplace profile is verified or not. Also, cross-check if the price of the NFT matches the price asked by its artist.
- Learn about transaction fees: Know about the gas fees that marketplaces charge. There are some marketplaces that charge a certain fee from both the buyer and the seller, while others don’t charge any fees from the buyers. Learn about the fee structure of the marketplace before you choose.
Where Can I Buy NFTs – Conclusion
All the marketplaces that we’ve mentioned in this piece are some of the best NFT marketplaces out there. They have the best NFT collections on their platform and are often clear about their offerings. We hope that this article helps you choose the right NFT marketplace.
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