NFTs are becoming more and more prevalent as the latest crypto and blockchain-based trend explodes. Just last year alone, the transaction of various NFTs contributed to almost $400 million in sales and new ownership deals. Clearly, it is no longer just a conceptual gimmick, but a brand new evolution of the equally detached idea of selling exclusively priced assets.
If you are new to NFTs, the first question that probably comes to mind is how to acquire these NFTs. Because it is a rapidly growing market, new NFT Marketplaces and hubs pop up all the time, and it may be daunting and confusing to newbies.
Thankfully, we can always rely on a few established NFT marketplaces as a starting point. If you ever have an asset you feel is worth selling as an NFT, or if you’re interested in purchasing one, then here are some of the best NFT marketplaces to consider transacting on.
Buy and Selling NFTs Recap
Before we head over to the list, let’s review some key points relating to NFTs:
- Decide on a blockchain network you want to use. The most popular at the moment for NFT transactions is Ethereum, but there might be a few better options depending on the NFT you’re selling/buying.
- Acquire the appropriate wallet for the blockchain of your choice. In the case of Ethereum, for example, you need a wallet that supports the ERC-721 standard.
- Alternatively, invest some fiat cash, and directly convert them to the cryptocurrency of your blockchain network. This will require a compatible service that allows such a conversion. For instance, like what Coinbase Wallet offers for new users.
- Alternative two, purchase the cryptocurrency directly from a cryptocurrency exchange. This is for those who already have an established cryptocurrency data storage option.
- Connect your wallet to one of the NFT platforms below. This will also include uploading whatever it is you intend to sell and its formal description.
Best NFT Marketplace Overview
(in no particular order)
- Atomic Market
- Myth Market
“The largest NFT marketplace.”
Indeed, this marketplace earns its chops as the best NFT marketplace in terms of sheer size and number of options alone. These facts alone legitimize its operations for anyone interested in using it for the first time. First, of course, you can sell all types of NFTs that come to mind, from domain names to virtual collectibles and creativity-focused digital assets. And second, it has outlets where you can sell them, as well as the modes of how the NFTs can be sold (fixed “commodity” price, declining price listing, auctions, etc.).
Perhaps most notably, you can develop your items for sale at OpenSea using its item minting tool. You can create NFTs for every category available, and there’s no coding required! If you have a sort of continual contract to develop salable NFTs, or any responsibility to create digital stuff on the blockchain, OpenSea has you completely covered.
“Collect SuperRare Digital Artworks.”
If the platform’s catchphrase isn’t obvious enough for you, SuperRare is one of the portals most focused on selling unique (usually single-edition) artwork-based NFTs. It is built on the Ethereum blockchain, and thus, you need the appropriate currency for selling or buying NFTs on it.
As hinted by the main theme of the platform, artworks are generally “tokenized” and created as an authentic collectible item that can be directly showcased to interested buyers. This robust inventory management more or less ensures that there are no major forgeries on the platform.
One rather huge caveat to using the platform is that you must have a bit of reputation before selling NFTs on it. At the very least, though, you can freely submit your artist profile for a sort of “pre-advertisement” for your upcoming NFTs. As for the artworks themselves, snippets are allowed for preview, and each resale guarantees a small fee to consistently return to the artist even if the ownership was already officially transferred.
“The new creative economy.”
This platform is for the community and curated by the community. Playing on the primary theme of the platform’s catchphrase, Foundation gathers artists, collectors, and curators alike to freely manage its open social groups to showcase whatever visual-focused NFTs may be available for auction and purchase. So, even though the platform also mainly focuses on digital art, other digital creators focusing on things like animation can still thrive well within their community.
In fact, there is a huge incentive for other creators already on the platform to invite other similar-minded folks and create their own NFTs. This then entices even more collectors to frequently visit, or to host important auctions for more important items. It may not be the best NFT marketplace per se, but it definitely is among the best NFT marketplaces and puts a huge blip on the radar for promoting the idea of NFT itself.
As an added trivia, the famous deal to purchase the viral internet meme Nyan Cat was completed on Foundation. The historic sale was closed with a total sum equivalent to about $590,000, an amount that is still quite notable as far as concept-based NFTs are concerned.
“Create and sell digital collectibles secured with blockchain.”
Yet another community-driven NFT marketplace, the platform was only founded in 2020. There are no restrictions on being listed on its portal; all that is formally needed is the submission of individual creations for approval. Some users might feel that its exclusive RARI blockchain network is restrictive for free trade of the assets sold off, but the token can be managed through OpenSea if you need a bit more guarantee on the transactions completed.
The ultimate goal of Rarible is to make it almost completely free, as in there will be no middle-man when trading and purchasing NFTs. By eventually transforming it into a Decentralized Autonomous Organization, all decisions will be held individually by each platform member. In this regard, the platform indeed embodies the technical goals of NFTs, though, of course, this also puts the purchase responsibility squarely on the collectors.
“… a shared liquidity NFT market smart contract…”
Here’s one that is even more recent than Rarible, freshly launched only this year. Using the Eosio blockchain network, it is one of the NFT hubs that feature most of the basic options you need to tokenize your assets for standard selling or auctioning (as soon as the asset is confirmed for upload). It may not be one of the best NFT marketplaces due to its recent establishment, but it is rapidly proving itself a flexible alternative when the trade offer does not require you to immediately have the item on-site.
The main setup of Atomic Market is that it features shared liquidity NFT assets. In other words, items that are featured on other websites also pop up and appear on its marketplace. As hinted by the previous description, this makes it possible to simply list the items first.
Also, in case you need to find more prominent pieces for your collection, Atomic Market also features a verification checkmark. This is so that you can confirm that its equally notable owner actually owns the popular NFT.
6. Myth Market
“Your marketplace for digital trading cards.”
On the collectible side of things, Myth Market is perhaps one of the most popular NFT marketplaces for finding trading cards and their associated collections. Well… the marketplace doesn’t exactly support that many digital trading card platforms. But a lot of the most notable ones, including Topps, Garbage Pail Kids, and Blockchain Heroes, can be traded and purchased here. In fact, each digital trading card platform has its own secluded marketplace within the system, denoted by the “.Market” segment.
Oddly enough, the Myth Market also features various William Shatner-related memorabilia. The Shatner. Market, as it is officially designated, has a wide list of collectible card singles and packs that feature the veteran actor in various poses and situations.
“Create, explore and trade in the first-ever virtual world owned by its users.”
Last, but definitely not least, Decentraland features probably the most modern-integrated platform for selling and trading NFTs. The primary theme is rights. That is, this digital platform aims to provide full rights to the creators of the NFTs featured on it. The community can propose and approve regulatory updates, determine proper auction rules, and even whitelist NFT contracts that are to be accepted within each of its market categories.
But far more important than “mere” implementations of policies, system updates, and trading options is the very environment that Decentraland is founded on. It is essentially a virtual world of its own, complete with accessible three-dimensional suites where deals and transactions can be made much more intuitively. It’s actually quite fitting for the auctionable virtual lands and estates that make its existence among other best NFT marketplaces a bit more distinct.
These are not the only useful marketplaces for finding, buying, or selling NFTs. Even as we speak, a myriad of other marketplaces continues to create, bid, and successfully complete transactions for new NFT creators and owners alike.
But, don’t worry too much about looking for some famous deal or prominent artist on the platform. A good rule of thumb to remember is that purchase standards and transaction features must go hand-to-hand on a reliable NFT market platform. For instance, a simple combination of a reliable token standard/blockchain network and good buyer optimization options (verification, price balancing, etc.).
That, or you can always slide down to the “niftier” side of things.