NFT markets serve as the global exchanges for the world’s most valuable assets. Here are a few of the more well-known ones to be aware of. Since the field is so young, markets are still figuring out the best way to promote their NFTs. Rather than a rigid order, consider that this list of the top NFT markets includes some of the largest marketplaces together with their respective advantages and disadvantages.
As an artist or organisation new to NFTs you may feel overwhelmed by the sheer number of NFT markets. To alleviate the pursuit of finding the NFT platform that matches your objectives and preferences, here is a comprehensive list of the greatest NFT art marketplaces.
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As stated in OpenSea’s own tagline, it was the first established NFT market and has consistently led the NFT trading industry since its inception. When the NFT marketplace is mentioned, those who are acquainted with it immediately think of OpenSea.
As of early 2022, OpenSea has more than 600,000 users, a stellar increase from 4,000 users in March 2020. According to SimilarWeb, the site has more than 120 million unique users every month on average. From web domains and virtual plots of land to avatars, trading cards, and art projects, the platform offers a diverse range of NFTs. Indeed, it bills itself as “the non-financial technology marketplace that has something for everyone.”
- widespread recognition within the NFT collector community;
- opportunity to mint NFTs for free through lazy minting.
- Oversaturated platform makes it difficult for producers to stand out.
2. Axie Infinity
Axie Infinity is one highly desired NFT marketplace in the game industry. A specialised location for users of the same-named video game enables them to create, purchase, and sell axies — game characters and other digital artefacts. Through its innovative and user-friendly domain, the marketplace has established a foundation for the gaming industry. It is one of the biggest and most costly NFT marketplaces, with a market capitalisation in the billions.
Due to the Axie marketplace’s large popularity and transactions also includes a platform for users to communicate, create NFTs, and compete with others to gain points and other items that can be sold as NFTs.
Axie Infinity Pros
- NFTs have multiple functions, as they may be employed in-game combat, and the tokens won enable players to breed young Axies.
- Massive earning potential for full-time gamers and those interested in becoming one.
Axie Infinity Cons
- Not a simple interface to navigate for newcomers.
- More expensive than any other platform Having said that, it is well worth the inconvenience for full-time professionals.
Rarible, which launched in 2020, is a community-owned platform that enables the minting and selling of NFT. This software has a simple UI that is devoid of the clutter seen on more popular markets. You may see the top-selling Decentralized NFTs to get a sense of what people are interested in right now.
Many see the Rarible platform as the platform’s primary rival to OpenSea. Additionally, it is a rapidly growing Ethereum-based marketplace. The simplicity of Rarible allows producers to earn more money on the platform. Additionally to card pictures, it enables collectable images, allowing developers to produce several distinct images rather than simply one card image.
Rarible’s straightforward minting mechanism enables non-programmers to manufacture NFTs. Additionally, sellers may make many NFTs for a single photograph. If the photograph is a really valuable item, they will be able to sell it several times and maximise their revenue. Are you concerned about unauthorised sales? Rarible resolves the matter. Creators may incorporate royalties into the Rarible platform, guaranteeing they get a percentage if the buyer subsequently sells their work.
Interestingly, Rarible also sells NFT games. The platform is expanding its reach into the gaming market via a collaboration with MyCryptoHeroes (MCH), a blockchain game development accelerator program. This agreement enables MCH ecosystem game creators to sell their tokens on Rarible.
- As an artist, you may select up to 50% of future earnings;
- It is a non-custodial marketplace;
- It is straightforward to create and trade NFTs;
- Native tokens are used to design the platform’s governance.
- Increased commission in a competitive environment;
- The mobile application is not yet available.
Mintable, a decentralised marketplace akin to OpenSea, seeks to provide a secure environment for internet users to purchase and trade NFTs. To engage in the NFT industry on Mintable, users will require Ethereum (ETH). Mintable is a cross-blockchain NFT platform that enables both Zilliqa and Ethereum NFTs and enables digital producers to add up to 10% royalties to their wallets.
Furthermore, Mintable utilises the DAO for crypto art, enabling users to provide three distinct sorts of NFTs: printable, normal, and gasless.
- User friendly, anybody can use it without much experience
- It’s quick when it comes to making, purchasing, and selling NFTs;
- Listing is free
- Transaction fees are expensive when compared to other NFT platforms such as Rarible;
- Fewer integrations with cryptocurrency wallets
As another pioneer in NFT art curation, Foundation provides a diverse selection of art to its customers and recently enabled the issuance of 3D artwork as NFTs. Although Foundation is an invitation-only platform for artists, each artist receives a range of invitations to distribute to the community upon selling an artwork. Meanwhile, collectors may browse the platform’s highlighted artworks and submit bids on available pieces of art.
When a bidder reaches the artist’s reserve price, a 24-hour auction starts, often resulting in some spectacular bidding battles amongst collectors.
Both artists and buyers will find it simple to get started using the Foundation platform. Participants within the Foundation community invite artists to the platform. Buyers create an Ethereum-based crypto wallet and begin making purchases on the Platform.
- The interface is simple to use;
- Like OpenSea and Rarible, whenever any piece on the platform is resold, a royalty of 10% is credited to the user’s wallet that initially created the NFT.
- This marketplace accepts only ETH payments;
- Relatively high commissions.
6. Nifty Gateway
While it is not as well-known as some other top NFT markets, such as OpenSea and Rarible, Nifty Gateway is another top NFT marketplace developed by the cryptocurrency exchange Gemini. In general, Nifty Gateway is mainly focused on NFTs relating to music and art.
Nifty Gateway has already partnered with several developers to offer NFTs in “drops.” Drops are in tremendous demand, since they are often only accessible for a short time and frequently sell out owing to FOMO. Artists may earn as much or as little as they wish from secondary sales, and their wallets will be rewarded appropriately.
Nifty Gateway has the highest sales figures of any curated art marketplace. With high-profile artists like Steve Aoki, Calvin Harris, Grimes, and The Weeknd auctioning their work, Nifty Gateway is astounding.They now accept just a select group of the most prominent digital artists, like Beeple and singer/musician Grimes.
Each artist on the web makes their own Nifties (electronic machine immune fragile), or unique symbol of worth, which often comprises a picture series.
Nifty Gateway Pros
- Extremely exclusive artists on the site;
- Purchase NFTs with a credit card;
- Simple platform to use for cryptocurrency newbies.
Nifty Gateway Cons
- This NFT marketplace does not have a wallet;
- It accepts only prominent artists
KnownOrigin began as a pop-up gallery event in Manchester a little more than two years ago. Currently, KnownOrigin is a renowned art marketplace that features a diverse range of producers. The platform’s objective is to construct a community-owned and managed marketplace for the future of Web 3.0. The site selects its featured musicians via an application procedure that requires each artist to first build a profile.
- Collections, one-of-a-kinds;
- Artists who want to join the platform may submit an application;
- Supports ERC-721s/ERC-1155s.
- 3% commission;
- Not decentralised;
- 10% royalty on artwork.
As the name implies, SuperRare is a marketplace for acquiring and exchanging one-of-a-kind, limited-edition digital artworks. Each artwork is made genuinely by one of the network’s artists and tokenised as a crypto-collectable digital object that you can own and trade.
The site offers high-quality art projects by internationally renowned artists who have been hand-selected to participate. SuperRare just launched its own Ethereum-based coin of the same name. Tokens will be used to scout for and curate fresh talent for the marketplace. SuperRare NFTs, like Rarible NFTs, may be purchased and traded on OpenSea.
- Well-known among art collectors;
- Excellent exposure for artists’ one-of-a-kind drops and genesis artworks.
- Very elite and tough to get into for lesser-known artists;
- Significant emphasis on art above all other categories.
The emergence of the NFT marketplace provides a unique opportunity for individuals to display their unique intellectual property and creative collectibles. Nevertheless, there is no one-size-fits-all solution for NFT markets. Perhaps you like a platform that takes a fresh approach, or you’re dealing with an underrepresented medium with a flourishing community on a particular marketplace. You do not have to choose just one marketplace, instead, you can merge and explore!