Swap Tracker
John Martin 7 min read

In Search of the Best NFT Marketplace

In Search of the Best NFT Marketplace

One of the main trends of today was the growth of the popularity of NFT (non-interchangeable, or non-fungible, tokens), as well as the surge of digital art in general. tell us where to buy NFT or sell it.

We will briefly go over the basic information about it first. NFT is a way of owning digital assets that can be represented in the form of a work of digital art, digital real estate, an artifact in a computer game, a domain name, and even a utility. All these assets - non-replaceable tokens - are unique, that is, they exist in a single copy and it is impossible to copy them.

NFT turnover occurs at special sites - NFT marketplaces. These are sites where unimaginable tokens are not only stored, but also bought, sold, and exchanged. On some platforms, you can even create NFT tokens online.

Today, there are several dozen NFT marketplaces. Some of them are general, that is, all types of digital assets are sold there, but there are platforms dedicated to specific, for example, only game tokens. Here, we’ll make an overview of the best NFT marketplaces.

OpenSea

Marketplace OpenSea is one of the pioneers of the NFT trade. The largest NFT trading platform was founded in 2017 in New York and has since grown to $3-5 million in sales per day. It presents various digital assets - paintings by modern artists, domain names, game and sports cards, utilities, and even virtual territories. Registration on the site for the transaction is not required - it is enough to enter the site using the "wallet": MetaMask, Coinbase Wallet, or Opera Touch. The means of payment in OpenSea is cryptocurrency - the standard of the blockchain Ethereum ERC721 and ERC1155 is applied.

The exhibition of works on the site for sale is accompanied by several expenses. First, OpenSea takes a commission for "gas" - "minting" a token. Second, the transaction is also subject to a 2.5% fee. At the same time, the total amount that the seller will eventually pay depends on many factors, for example, the current demand for a particular asset in the network and even the time of day. Often, to sell an NFT, you need to pay about 70-100 US dollars. By the way, the buyer of the token is not charged a transaction fee.

Nifty Gateway

The main advantage of Nifty Gateway is the possibility of buying NFT for fiat money — in simple words, our usual dollars, euros, rubles, yuan, and other currencies. At the same time, sellers can withdraw funds directly to their credit or debit cards. True, so far only those who have accounts in American banks can do this. Other users will have to use the Gemini exchange.

Nifty Gateway allows you to place your collections for free, but for each sale of tokens a commission of 5% + 30 cents is held, and when they are re-sold, you will have to pay another 10%, which is paid to the creator of NFT. In other words, it is most profitable for content creators to work in this marketplace.

Foundation

The NFT Foundation Artists Platform is positioned as a platform working with alternative music and art. To be able to work with the service, you need to receive an invitation from one of the authors of the site. And although the marketplace loses to many competitors in our list in terms of trading volume, its main advantage is maximizing the reach of the target audience.

Like Nifty Gateway, this platform is great for content creators. It allows you to place tokens for free but takes a commission of 15% from their sale, and at each NFT resale, their author receives royalties of 10%. At the same time, the sale of tokens takes place in the format of an auction without a fixed price.

Mintable

Mintable marketplace continues our top of NFT marketplace websites list. Founded back in 2018 for trading NFT with very flexible configurations, it offers extensive opportunities for creators and collectors, including additional settings for promoting their work and managing royalties on tokens, which can reach 90%.

The platform is a fully decentralized system. It uses the Ethereum and Immutable X blockchains. The marketplace can work with ERC-721 tokens, and when using IMX, there will simply be no network commission. At the same time, creators and buyers have full rights to smart contracts. But the most interesting thing is that there is an opportunity to create your store and more effectively promote your work.

Rarible

This one is an NFT platform with a trading volume of approximately $1.5 million per day. The project was created in 2020 in Moscow. The founding fathers of Rarible - Alex Salnikov and Alexei Falin - laid the foundation for the project their own RARI token. Mainly digital art is sold and bought here - about 20 thousand different artists and their collections are posted on the site. But there are also other objects - domain names, game cards, and so on. A distinctive feature of the site was that the authors of works receive remuneration for each resale of their work (they have intellectual property rights through Proof of Provenance). The platform takes a commission from the seller and buyer of the digital asset - 2.5% plus a fee for "gas," that is, minting a token. In total, as in the OpenSea, about 70-100 US dollars are obtained per sale. By the way, Rarible and OpenSea have a partnership agreement, therefore, by posting work on one of these sites, the author receives accounts on both sites.

SuperRare

This trading platform selling digital collectibles is currently not working at full strength (sales are half a million dollars per day), but recently its organizers have received serious investments for the development of the project. So this NFT platform "exhibits" a limited number of digital art, while, according to the creators of the site, those works are 100 percent unique. Several proven authors participate in the project, but anyone can apply for the inclusion of their work in the competition.

That is why the commission that the site charges for transactions are much higher than that of other sites of similar orientation. For example, the buyer is forced to pay 3 percent for the transaction, while the seller generally pays 15 percent! Plus the traditional gas commission. This is not all: when reselling an object of digital art, the author receives 10 percent of the cost of the work as royalty. The platform is also based on the Ethereum blockchain. To implement the transaction, registration on the site is required, as well as the binding of the crypto wallet MetaMask or Fortmatic.

Other Sites

In general, NFT trading floors have recently been growing like mushrooms after the rain. There is, for example, the platform of the American basketball league - NBA Top Shot. Its essence is that the site contains videos from past games in the form of sports collectible cards. There is a Foundation auction platform, which in its functionality can "expand" digital assets on social networks. True, to get to the site, you need to have an invitation from one of the authors registered there. 

By invitation, a platform such as Makers place also works. NFTs are also traded here for a wide audience, while it is possible to comment on the submitted works. The Async art platform allows you to create works of art online using the Async Canvas tool and sell digital art in "layers," that is, in part. But the Mintable marketplace allows you to exhibit your work completely free of charge: the site does not even hold a commission after the first sale.

The popularity of unimaginable tokens will only grow over time and it will soon not work to dismiss this fact. So it's not too late to dive into the NFT theme today! Start with Opensea or Mintable. 

However, any newcomer should remember prudence and caution when investing! After all, none of the sites, no matter how reliable it positions, can guarantee a hundred percent protection against counterfeits.

Related Posts

Cryptocurrency Wallet Types: Pros And Cons

Cryptocurrency Wallet Types: Pros And Cons

June Katz 7 min read
In order to store crypto and increase the security level of your funds, you can use a cryptocurrency wallet. They have a higher level of protection in comparison with the crypto exchanges. In this article, you will get to know about the advantages and disadvantages of crypto wallets and get acquainted with their varieties and the most popular ex
Read more ❯
The Biggest Cryptocurrency Thefts in the Last 10 Years

The Biggest Cryptocurrency Thefts in the Last 10 Years

June Katz 11 min read
In this article, we will try to remember all the major cryptocurrency thefts over the past 10 years. 1. Bitstamp hack , $5.3 mln ( BTC ), January 4th, 2015 On January 4, 2015, the operational hot wallet of Bitstamp announced that it was hacked by an anonymous hacker and 19,000 Bitcoins (worth of $5 million) were lost. The initiatio
Read more ❯
Public And Private Keys

Public And Private Keys

June Katz 2 min read
As well as fiat, cryptocurrencies need to be stored securely. That’s what we need these keys for. In this article, we will tell you what private and public keys are and how they are used. What are private keys? A private key is a number that is encoded in different formats depending on which wallet you are using. In each format, the private
Read more ❯
Blockchain Consensus Algorithms and Their Varieties

Blockchain Consensus Algorithms and Their Varieties

June Katz 5 min read
This article is written for beginners who are just starting to learn the crypto world. We want to help you a little. As you might have guessed, this article will be about blockchain consensus algorithms . On the blockchain market, there are a lot of consensus algorithms allowing us to choose what is the most relevant node for signing
Read more ❯

Where all instant exchangers met for your smoothest experience

Maximize profits, minimize search

Tags

nft

Recent Posts

What's Up with Multichain?
What's Up with Multichain?

What's Up with Multichain?

John Martin 5 min read
Users of the Multichain ( MULTI ) cross-chain protocol have been reporting issues with transactions getting stuck in the blockchain as a result of an error that occurred during a recent network update. Several Multichain users have complained that their funds have been stuck in the protocol for 72 hours. Part of the problem appears to be rela
Read more ❯
Are We Overdue for a Crypto Bull Run? An Overview of the Market Situation
Are We Overdue for a Crypto Bull Run? An Overview of the Market Situation

Are We Overdue for a Crypto Bull Run? An Overview of the Market Situation

John Martin 8 min read
2022 has become a difficult year for the cryptocurrency market and will be remembered by negative events and trends. These include the onset of "crypto," the collapse of FTX , and the "stifling embrace" of regulators. We gathered experts' opinions on how to assess the results of the year and the prospects for the next - should we expect a market
Read more ❯
Exploring Bitcoin Ordinals and the BRC-20 Token Standard
Exploring Bitcoin Ordinals and the BRC-20 Token Standard

Exploring Bitcoin Ordinals and the BRC-20 Token Standard

June Katz 5 min read
Bitcoin Ordinals: An Introduction So far the majority in the crypto world has been talking about Bitcoin as a store of value. This idea initiated a heated debate, which has not eased off until this day. Nonetheless, what can be seen in practice is that Bitcoin is rarely used actively as a means of payment. Even though there are interesting cases,
Read more ❯
In Search of The Best Stablecoin
In Search of The Best Stablecoin

In Search of The Best Stablecoin

June Katz 6 min read
Stablecoins are cryptocurrencies that are designed to have a stable value, unlike other coins whose values can fluctuate wildly. They are pegged to fiat currencies such as USD. This means that the price of a stablecoin will not change significantly in response to market movements. Stablecoins can be used as a store of value, a medium of exchang
Read more ❯

BTC  to ETH : Best Rates

btc-icon
btc
0.1