It’s no surprise how NFTs are hyped around all over the internet these days and everyone is raving about them. Non-Fungible Tokens (NFTs) are digital assets that are non-interchangeable and non-exchangeable, representing digital objects like music, art, games, videos, memes, sports highlights, collectibles etc. One can create and sell their own NFTs, trade NFTs or stake NFTs. NFTs are present on a blockchain which is a public ledger containing a record of transactions. When a creator creates an NFT, it goes live on the blockchain for trading, and all of these are visible to the public. This projection and transparency show how the NFT value is increasing thus creating a buzz and excitement among the investors. Ethereum is known to be the most popular blockchain where you can trade NFTs.
Designers and investors have made astonishing figures that have changed their lives forever. A research of penmypaper says that with the increasing popularity of NFTs, the NFT market has rocketed to over $40 billion, according to the NFT Market Report of 2021, reported by Chainalysis, a blockchain data company. The key to trading NFTs lies in choosing the right marketplace. In this article we have furnished the 7 best NFT Marketplaces in the year 2022 where you can trade these digital assets.
When it comes to trading volume, OpenSea is the best and the largest marketplace for trading NFTs in the world. It continues to be the best NFT marketplace as it is beginner friendly and one can set up a free account within a couple of minutes. One of the best features and advantages of OpenSea is that it supports over 150 different cryptocurrencies as payment options. This saves your money and time as other marketplaces compel you to swap tokens prior making a purchase.
In terms of costs, OpenSea charges a 2.5% trading fee to sellers when their item is sold with no cost to the purchaser. Lastly, OpenSea supports 14 various crypto wallets which enables traders to link their wallets to the NFT marketplace in just a few clicks. You may get more such insights if you learn how to conduct a market analysis and deeply study the strategy of OpenSea by yourself.
Binance being one of the largest crypto exchanges in the world, offers digital assets typically found on other major marketplaces: collectibles, artwork, gaming items, music etc. One major advantage of Binance is that it charges considerably low fees. Its platform deducts only 1% transaction fee. Binance provides a user-friendly platform and is developed using the same layout and technology as their exchange. Since this NFT marketplace is integrated with the Binance exchange, it becomes easier to swap tokens and make payments. Needles, it is obvious as people even pay for essays these days. Moreover, Binance Marketplace offers NFTs on the Ethereum Blockchain and the Binance Smart Chain that ensures a wide range of tradeable assets.
Binance marketplace has a user-friendly interface that makes it easy to navigate. One attractive feature Binance provides is the ‘Mystery Box’, in which users can buy a box and acquire a random yet extremely valuable NFT. Another feature is that the users can use the same credentials to use and browse NFT marketplace if they already have a Binance account.
Rarible NFT marketplace hosts a wide selection of rare digital arts alongside games, music, video games, collectibles, metaverse items, domains and more. It is thus one of the best NFT art marketplaces for investors. The platform charges a 2.5% trading fee to both buyers and sellers, along with ‘gas fees’ (fees for using the network). But a great feature of Rarible is that the users can use their debit or credit card to buy NFTs.
Rarible has multi-chain support and allows transactions in fiat currencies and also hosts NFTs built on Ethereum, Tezos, and Flow. Rarible supports over 190 countries making it easier to purchase Rarible NFTs across the globe. Lastly, Rarible supports a range of wallets like MetaMask and Coinbase, that ensures investors to keep their assets safe post-purchase.
It has been in the news recently that Apple business strategy has included new encryption policy which can actually be an immense boon for Crypto.com. This is another top NFT marketplace and is used by more than 10 million people globally. The most appealing feature of Crypto.com is its buying process, i.e., there is no fee for purchasing an NFT and this a striking contrast to several other platforms. Crypto.com platform enables users to open an account in a few minutes making the investing and trading process simpler. NFTs are available through auction or for a fixed price. Another great benefit is that the investors can purchase digital assets using their debit or credit card.
Crypto.com initially minted NFTs on its own blockchain, however it recently integrated with the Ethereum blockchain. Hence, now you can discover thousands of NFTs on this platform. This platform also features curated galleries for browsing that makes it easier to find the biggest upcoming digital art and other digital assets.
Another great feature of Crypto.com is that it allows sellers to run auctions at the same time it offers a buy now option. So, if you see an NFT that appeals to you, you can immediately purchase it rather than losing out to another offer. Crypto.com is a growing NFT marketplace especially for artists who do not have enough money for investing in minting and are just getting started.
NFT LaunchPad is an NFT marketplace created by creators for creators. It is a relatively new marketplace but has already started generating traction with investors. This platform offers NFTs minted on Polygon blockchain and the Binance Smart Chain and provides a wide variety of assets to choose from. You can find several great collections on the NFT LaunchPad like Space Apes, Great Ape Society, Punk Dogs, and Lazy Goats Club.
NFT LaunchPad has grabbed some great projects and one of them is the Lucky Block’s Platinum Rollers Club collection. It is exclusively available in NFT Launchpad and is one of the best projects on NFT in the year 2022. NFT LaunchPad is a user-friendly platform as it makes it simpler to trade NFTs in this platform and all the assets in NFT LaunchPad are denominated in Wrapped BNB (WBNB) which is one of the predominantly used crypto currencies. The platform supports MetaMask wallets and one can easily access the marketplace through the web browser.
Nifty gateway is another top NFT marketplace to consider. It has gained popularity for its expensive and exclusive NFTs hosting and one such NFT is the “The Merge” by digital artist Pak that had sold for $91.8 million. Nifty gateway is backed by Gemini, a cryptocurrency exchange run by the Winklevoss Twins.
This platform deals on artworks that are especially from the artists and the celebrities. For users who are based in the US can purchase NFTs using their debit or credit cards and those outside the US can use their cryptocurrency saved in their Gemini account. Nifty Gateway could be your best option if you are trying to make a huge investment in NFTs and want to get access to higher-end collections.
SuperRare, as a high-end NFT marketplace, operates as an art gallery in the NFT ecosystem. The SuperRare NFT marketplace, as the name suggests, is a platform for one-of-a-kind and limited-edition digital artworks. Each artwork is a creation of a verified artist, and each artwork is distinct from the others.
The platform charges a 15% commission on primary sales, while creators receive an 85% commission. In case you don’t know how to conduct an internal audit, let us tell you, that on this platform every purchase is subject to a 3% transaction fee. SuperRare could be a good option for anyone demanding high-end NFT artwork, particularly in a more classical style.
NFTs have been around since 2014 but are gaining notoriety in recent times as they are becoming an increasingly popular way to buy and sell digital artwork. The top NFT marketplaces offer the best options for buyers and sellers alike. NFT marketplaces will give you access to a broad audience if you are looking to sell your digital art creations. If you are looking to invest in NFTs, these marketplaces will allow you to browse and purchase NFTs easily. If you want to invest in rare NFTs, Rarible is a great option. But if you are a newbie or an even expert, OpenSea is still the most ideal option to trade NFTs. In case you have an article assignment to submit on such a topic, you can either do the needful by yourself or take professional advice on how to critique an article. Either way, it is recommended that you must do your research well before investing in or writing about NFTs.