The basic purpose of digital assets is to facilitate showcasing the visual representation for a company’s products or services. These assets also allow the companies to connect with their target audience and engage them via extensive mediums and channels. The digital assets are also used for conducting several marketing campaigns that help companies boost their market presence and, hence, their sales. Alongside providing sales support, the digital assets also help in scaling managerial workflows and training the workforce. Talking about digital assets, how can we forget about the Non Fungible Tokens? What exactly are the NFTs? What are the top NFT marketplaces? What are all options feasible to buy or sell NFBs? This article will cover everything that you should know about Non Fungible Tokens.
What are NFTs?
NFT is a Non Fungible Token is one of the trending topics in the concurrency community right now. Almost every company or successful businessmen/ entrepreneur want to launch their own NFT. However, the value of NFT can differ massively. It implies some may be worth in millions, or some may be worthless. NFTs are unique items that cannot be replaced with any other card, which means it is a one-of-a-kind trading card. Thus, if you trade one card for the other, you will end up having something different in your hand. Undoubtedly, NFTs are the latest internet sensation, and everyone, be it the buyers, artists, or sellers, is astonished that so many people are ready to pay to own digital art. The growth of NFTs is magnificent and has crossed $2.5 billion in the last 6 months from September 2021. Therefore, it can be concluded that the NFTs witnessed immense growth in a very short duration.
Does NFT Have Any Similarity With Other Cryptocurrencies?
Yes, in some ways, NFT is similar to cryptocurrencies such as Bitcoin. Although, NFTs are not non-fungible and non-divisible assets, unlike crypto assets. NFTs were part of the Ethereum blockchain technology initially, letting users store extensive electronic information to distinguish their uniqueness. In addition, different NFT marketplaces use distinctive blockchain technology. It means every marketplace is involved in buying or selling specific NFT. To trade in any NFT platform, a buyer needs to have a digital wallet and use cryptocurrencies to pay for the NFT cards they purchased.
What is an NFT Marketplace?
NFT marketplace is a digital platform that allows all artists to create NFTs and trade in those Non Fungible Tokens. The NFT marketplace is very similar to the E-commerce sites where you can purchase any commodity with your digital wallets /e-wallets. You have multiple options to choose from if you want to create and buy/sell any NFT at a specific price after determining the potential price of that Non-Fungible Token.
How to Choose the Best NFTs Marketplace?
It solely depends on which NFT you are looking to buy or sell. For instance, if you want to buy a football trading NFT card, you need to visit a different website, including Sorare or FootballCoin, as these websites deal in football NFTs. However, if you want to trade in Baseball cards, the website will be Digital Trading Cards. Another important thing to consider before opting for an ideal NFT marketplace is to possess a digital wallet linked to that particular NFT marketplace and cryptocurrency. It will help to simplify the overall transaction process. One of the widely used digital wallets in the majority of the NFT marketplaces is Metamask Wallet.
How to Buy at an NFT Marketplace?
The process of buying NFTs at marketplaces is straightforward. Plus, if you have the know-how to use Web3 and Apps interfaces, it will make the process more seamless. One piece of advice to all the readers is that if you are new to the crypto world and not aware of the Metamask wallet functionality, you can hire an agency that takes care of the blockchain stuff for you. However, minting your first NFT is not difficult if you are open to the world of DeFi (decentralized finance- a set of instructions, technologies, and processes used to make traditional finance services more transparent, efficient, and secure).
Top NFT Marketplaces
With the establishment of so many NFT marketplaces, it has become difficult for artists to sell their digital wares. That’s why we have gathered the entire data, compared all the marketplaces with one another, and jotted the best NFT marketplaces below that will cater to all your needs.
1. Rarible
Launched in 2020, Rarible is ranked as the top NFT marketplace that works as a distributed network where the need of the middlemen is eradicated. The network works without mediators and allows artists to specify their share as royalty for secondary transactions. The platform uses its cryptocurrency named RARI. The best part about Rarible is that it has entrusted its customers to take all the decisions themselves, which is why it is known to be evolved into a Decentralized Autonomous Organization. Moreover, the NFT tokens created on this marketplace can be used on another renowned platform as well named OpenSea.
2. OpenSea
OpenSea was launched in 2018 and is considered one of the best NFT marketplaces offering an extensive range of NFTs, including arts, virtual worlds, sports & collectibles, trading cards, censorship-resistant domain names. The platform includes assets including ERC115 and ERC721. Besides these assets, you can explore other digital assets, including Decentraland, ENS games, Axies, CryptoKitties, etc. These assets feature 700+ projects such as collectible games to digital art projects, trading card games, and name systems like ENS (Ethereum Name Service). It is best known as the marketplace where digital assets are created, bought, and sold. The platform has a very reputed clientele, including celebrities like Logan Paul, mark Cuban, and many others. Also Read: Top 15 Cryptocurrencies to Invest other than Bitcoin
3. Foundation
One of the best NFT marketplaces to sell Non-Fungible Tokens, Foundation is a P2P marketplace that operates exclusively for digital art creators, crypto natives, and collectors to move the culture forward. However, the platform primarily focuses on digital art. Being an artist, you must create your profile on this platform and apply it to their Community Upvote. It is a very crucial step as your application is selected based on the community votes you receive. The trading platform facilitates the trading of NFTs by bringing marginalized voices to the center. Also, the team of Foundation is solely responsible for deciding what type of artwork is displayed on which web page of the platform. In addition, the team of this digital marketplace is best-known for organizing live auctions and simplifying the entire process of online bidding for digital artwork. In every NFT trade, an artist receives 10% on the secondary transaction; that is, on the total sales value when a collector re-sells their digital artwork to another individual/entity for a price higher than before.
4. MakersPlace
The digital marketplace empowers digital creators by providing them with the efficient tools to protect and sell their work to collectors and fans. If you want to explore and collect unique digital creations, MakersPlace is the platform where you will find a wide array of artwork. Numerous artists, photographers, and writers are connected with this marketplace to sell their exclusive work to people all across the globe. The best part about this platform is that it facilitates blockchain technology and benefits all digital artists. The digital market provides a lucrative opportunity to all the creators by letting them earn a 15% share of the total value of the sale. In addition, the platform also offers 10% royalty as commission every time their work is being re-sold. This will help maintain the creativity standards and increase the product’s uniqueness, leading to high prices.
5. SuperRare
Are you searching for the top NFT marketplaces for creators to sell Non-Fungible Tokens? Then, stop searching and opt for SuperRare that will allow you to buy and sell single edition artworks. A genuine digital artist creates all the items traded on this platform and tokenized as a crypto-collectible digital item. The creators or collectors can also own and trade these digital collectibles- Digital objects that can be tracked on blockchain technology and secured by cryptography. One of the best aspects about SuperRare is that it promotes transparency for all digital collectibles by providing a record of ownership, which helps in maintaining a healthy social environment. Furthermore, the artists here are not dependent on community upvotes, as SuperRare’s management directly approves their artwork. Thus, it ensures the artwork featured on this marketplace is superior.
6. Decentraland
The digital marketplace was launched in 2020 with the primary objective of providing full rights to the NFT artists and creators. The marketplace is constantly increasing users’ voices, especially on land auctions, policy updates, and NFT contracts on the builder and the marketplace. One can get an extensive range of digital collectibles on this platform, including wearable, names, parcels, and estates. In addition, this platform also provides an opportunity for the users to own digital lands and customize the creations by building infrastructure or any other form of architecture. Decentraland is considered one of the most secure and best NFT marketplaces because all assets are stored within a smart contract, based on Ethereum (2nd largest and reliable crypto digital asset after Bitcoin). Also Read: How to Make Money with Bitcoin
7. KnownOrigin
One of the most recognized marketplaces, KnownOrigin, is a massive platform that provides every digital artist, buyer or seller a chance to discover, collect, and sell rare digital artwork. Just like Decentraland, this marketplace is also secured by the Ethereum blockchain. The digital platform is most suited for the creators who want to exhibit their skills and expertise to the collectors who value authenticity and uniqueness. The digital creators can submit their work to this marketplace gallery in gif, or jpg formats, with all files on IPFS.
8. Nifty Gateway
Undoubtedly, Nifty Gateway is listed in the top NFT marketplaces aiming to make the Non Fungible Tokens accessible for all users to buy or sell seamlessly. The marketplace collaborated with excellent artists and brands. The platform also hosts a limited edition Nifties in drops occurring every 3 weeks. You can find the extraordinary works of celebrities and musicians such as Deadmau5, Steve Aoki, Beeple, Grimes, etc. The unique thing about this marketplace is that you can purchase the NFT cards with your credit cards, unlike other platforms. Moreover, It is not a requisite for the user to keep Metamask or any other digital wallet. The marketplace is working to bring centralized processes to the decentralized system for people all across the globe. All the purchased tokens will appear under your profile, easily withdrawn to your external account or wallet. Besides, if you are looking to mint on the Nifty Gateway, you must apply. If it is accepted, you will be allowed to mint.
9. Mintable
Mintable is an excellent marketplace where users can trade music, photos, artworks, digital collectibles, and in-game assets. The platform strives to be a lucrative option as it provides the users with a gasless minting option called lazy minting. It is the reason why this platform calls itself ‘The only DAO ran by NFTs.’ The Mintable DAO has its own governance token, MINT, which can be earned on this platform through trading. The Ethereum based platform deals in 3 types of auctions: Traditional Auctions, Timed Auctions, and Buy It Now Auctions. Moreover, the marketplace endows a 5% royalty for digital artists on the total secondary sales.
10. Axie Infinity
Axie Nifty is a well-famed NFT marketplace that captivated the attention of NFT admirers soon after its launch. It is a magnificent digital game allowing users to raise, go on battles, and gather animated creatures, known as Axies. Users can own the farms and kingdoms in the game and strengthen their power to collect the Axies. These axies can be sold later whenever the users think they are getting a good price for them. Axie Nifty is ranked to be the best Ethereum game. The digital game is now handling 15000+ monthly active users and strives to be a great platform for NFT and game lovers. Also Read: 20 Best Freelance Marketplace and Platform
11. NBA Top Shot
Owned by NBA, the digital marketplace tokenize the moments of each star player of the NBA and try to capture their stunning performance into the NFT cards. Besides, other accessories worn by the glorified players are also converted into NFTs. The platform provides ownership rights and users authenticity for those celebrated moments. Since the introduction of these tokens, the demand for grabbing the special moment tokens has boosted significantly and is becoming an ongoing trend on social networking sites to flaunt your tokens. Some tokens were even sold for millions of dollars. Surprised?
12. NFT Showroom
The digital platform is built on one of the fastest and free blockchain technology making all creations accessible to buyers. The marketplace is built on Hive. The best part about NFT Showroom is that it features all art styles and levels of expertise/experience. Every artist is entitled to receive a 5% commission on every secondary sale. However, the platform charges a 10% commission whenever a creator sells their art for the first time. It serves as an affordable alternative for digital creators and collectors. The only thing a user needs to do is register their account on Hive. The platform uses a pegged token, SWAP.HIVE if you want to buy art. Furthermore, the creators are also offered 2 options, including Limited and Private Reproduction Rights.
13. Atomic Market
One of the newest platforms mentioned in this list, Atomic Market was launched in 2021. It is an integral part of the Atomic Assets Hub. The marketplace is based on the shared liquidity NFT market smart contract. This contract is used by several websites allowing all the listings of one market to display on the other markets. It works on the eosio blockchain technology and benefits all the users by allowing them to list their assets on the platform. Once the asset is listed for sale, the trade offer is issued to the marketplace. The offer is immediately accepted as soon as the buyer purchases the asset. The users can browse the already existing listings. The best part about buying, selling, or trading through this platform is that it ensures the NFT cards listed on the marketplace are not malicious. All the collection over this platform gets a verification checkmark making it effortless to spot the real NFTs.
14. Crypto Punks
Crypto Punks are digital miniatures generated algorithmically, using Etherum blockchain technology. The marketplace possesses exquisite featuring miniatures that have even been sold for millions of dollars. Therefore, the platform is known to hold the most expensive NFTs in the crypto market. All the NFTs powers digital art and collectibles, as all of them are inspired by the ERC-721 standard (modern crypto movement). The massive marketplace comprises 10,000+ uniquely generated characters that can be easily purchased once you create and register your account on this platform Moreover, it offers 3 types of punks. The punks with red backgrounds are available for sale by their owner; the punks with a blue background have no bids and are not available for sale. In contrast, punks with purple backgrounds have an active bid on them. Also Read: 12 Best Penny Cryptocurrency to Invest
15. Myth Market
The digital marketplace supports various digital trading card brands. Some of its featured markets include Heroes. Market (featuring Blockchain Heroes trading cards), GPK.market (platform to purchase, sell, or trade digital Garbage Pail Kids cards), Shatner.Market (deals in William Shatner memorabilia), GoPepe Market (for GoPepe Trading cards), and KOGS.Market (listing KOGS trading cards). The platform holds the potential of becoming one of the best NFT marketplaces to sell Non Fungible Tokens in the coming months.
16. BakerySwap
MakerySwap is a decentralized exchange (DEX) and automated market maker (AMM) on Binance Smart Chain. The marketplace offers a wide array of NFT cards to trade, buy, and sell. Along with NFT cards, it hosts digital exhibitions, NFT games, and meme competitions. Users can access any of these things once they pay for these services in BAKE tokens. You can easily earn BAKE tokens through this platform. All you need to do is use NFT in ‘combo meals.’ At the same time, you can also mint and sell your own artwork for a handsome price. Plus, using the ‘Bread’ pool feature on this marketplace is also one of the efficient ways of earning BAKE tokens.
17. Enjin Marketplace
The marketplace offers Enjin-powered blockchain projects from its massive game collection such as The Six Dragons, the Multiverse, the Age of Rust, etc. In addition, some games also offer reward programs such as community-created collectibles, Microsoft’s Azure Heroes, and Non-Fungible Tokens hosted by Binance and Swissborg. Enjin Marketplace is considered one of the top NFT marketplaces for creators to sell Non-Fungible Tokens. Unlike other platforms, it helps you discover and trade several types of digital assets, amongst which you can choose any. You might be glad to know that this platform has enabled 43 million Enjin Coin to be spent on digital assets, and 2+ billion NFTs have been traded. Another captivating aspect about Enjin Marketplace is that it facilitates the listing and purchasing of collectibles and gaming items. Also Read: Top 15 DeFi Lending Platforms
18. Async Art
The marketplace encourages digital artists to showcase their skills and get paid for proving their expertise. Async Art is built on the blockchain, allowing you to create, trade, and collect programmable art. The online marketplace allows its users to buy ‘Masters and ‘Layers.’
Masters- It is a 1/1 edition art piece, which will check its Layers persistently and update its appearance depending upon the Layer owner’s input. Layers- The individual components forming a Master image are known as Layers.
It implies if we change the Layers of a particular image, evidently, it will affect the Master’s image, regardless of who owns it. Thus, Layers are equipped with exclusive powers that help in determining the Master’s piece. The platform was launched in 2020 and has witnessed more than 6M bid volume and 1.5M+ in artist sales.
19. Portion
The portion is a global community of decentralized artists and creators enabling individuals to purchase, sell, store, and trade their own art and collectibles with utmost transparency. One of the reasons Portion is listed in the best NFT marketplaces is that it allows all users to be a collector. The platform enables you to manage digital and physical collections of different arts and collectibles effortlessly in one place. This makes it easy to exchange crypto for collectibles and digital art. The digital platform released new tokens for artist grants, liquidity mining, future partnerships, and team members. Moreover, these tokens are also distributed when digital artists create new Non Fungible Tokens. Currently, the price of each NFT is more than 500 PRT.
20. Cargo
If you are looking to create, display, manage, buy, or sell NFT cards, blockchain gaming items, secure tickets, and other valuable items for your business or project, Cargo will strive to be a one-stop solution for NFTs. One of the best NFT marketplaces, Cargo offers an API to interact through your own application. It is an advanced, user-friendly platform also accomodating split payments for up to 15 accounts. Just like the other digital marketplaces, Cargo featured a governance token called Cargo Gems. Also Read: 11 Amazing Blockchain Companies
How Can You Make Money With NFTs?
All NFTs prices are not equal. You may find some NFTs with skyrocketing prices, while some can be practically worthless. However, we have mentioned the ways through which you can make money during the current NFT gold rush:
- Digital Works of ArtM The cost of the high-valued NFTs is created through individual NFT artworks. For example, on March 11, 2021, the most expensive NFT artwork (fully digital) was sold for nearly 69 million in the recognized auction house named Christie’s. The NFT was not a single artwork; it was a collage of 5000+ tokenized pictures created in a couple of years by Beeple (Mike Winkelmann). This instance proved that NFTs have really revolutionized the world of art and nobody realized the potential of NFTs is so high.
- NFT Video Games NFT video games are sustainable. They are the future of NFT technology. Video games featured with NFT technology have great potential to become popular worldwide. Some games, such as Call of Duty, World of Warcraft, PUBG, or Minecraft, have a market of more than worth billion. If games like these start featuring NFT technology in their games, the impact will be impressive. Most of the game developers are NFT creators, which will help further to push the evolution of NFT technology. However, the Non Fungible Tokens used in video games are usually complex, fully interactive, and should change over time to keep leveling up the character.
- Licensed Collectibles The most natural and evident way of earning money through NFT is tokenizing collectibles of this technology. The brands selling trading cards or any other physical collectibles can sell precisely the same thing in a digital form. As of now, the NFT usage is rare, which might be the reason that increased the digital trading card’s price compared to its physical counterpart. One of the most recognized licensed NFT collectibles till now is sports cards. Firstly, the footballers allowed people to trade NFT licensed cards; later NBA also introduced its NFT card collection. Moreover, it is perceived that baseball and Hickey NFT cards will also be launched in the future, which boosts the market for these cards and becomes one of the significant sources to generate revenue. Future of NFTs The explosive momentum of blockchain technology is more than another quickly passing crypto trend. The NFT technology has led to the emergence of many new applications. Recommended: 11 Best Cryptocurrency Apps With the increasing number of businesses, celebrities, and individuals are entering the NFT world, the prices of the NFTs are also constantly increasing. In fact, many NFTs are still undervalued just because this new technology has not gained utmost recognition until now. All in all, the greatest potential of Non-Fungible Tokens is yet to be explored, and the right time to discover the best deals over the best NFT marketplaces is now.
