The proliferation of new cryptocurrency exchange platforms and marketplaces can be attributed to the general rise in demand for non-traditional currencies. There is a large number of non-fungible token (NFT) marketplaces where you can sell or purchase NFT arts. These marketplaces range from the most well-known, OpenSea, to those that are independent and community-based, such Hic Et Nunc. In addition, there are presently a number of NFT platforms and marketplaces operating on different blockchains. Some examples of these include the Solana and Polygon NFT marketplaces. Now that we have that out of the way, let’s have a look at a list of NFT marketplaces so you can get an idea of where you might want to buy or sell NFTs.
What Exactly Is an NFT, Anyway?
Non-fungible tokens, often known as NFTs, are a type of digital asset that can only be owned by one person at a time. An NFT was developed with the intention of making it less difficult for digital artists to defend the uniqueness of their work. You can trade, buy, and sell non-fungible tokens (NFTs) on an NFT platform, also known as an NFT marketplace.
In addition to the traditional functions of buying and selling, several marketplaces also offer minting services for NFTs. The following is a list of things that you are required to have in order to complete an NFT transaction in order to gain access to and use the capabilities of the NFT marketplace:
• Digital currency wallet
It is necessary for you to choose a wallet that is able to communicate with the NFT-enabled blockchain network and that you intend to acquire from one of the available markets. For instance, if you want to purchase or trade NFTs using a blockchain platform that is based on Ethereum, you need to utilize a wallet that is compatible with Ethereum. One such wallet is MetaMask.
Begin your journey with the NFT today by engaging in trading with Zipmex.
• A quantity of any available cryptocurrency
Before you may make the decision to buy NFTs or mint new ones, you are required to first load a minimum amount of cryptocurrency into your wallet. In addition to this, you need to find out which types of cryptocurrencies are accepted by the market that you select.
• Login for the user
In order to buy or sell your NFTs, you will need to first register an account on the relevant marketplace. However, in the majority of NFT marketplaces, payment of a blockchain network charge is necessary in order to register and create NFTs on the platform. The costs are not consistent across all blockchain-based marketplaces because each one uses a different method. In addition, when engaging in buy-and-sell activities pertaining to NFTs, you should select an NFT marketplace that is reliable and secure.
An inventory of the NFT Market Place
The following is a list of the top NFT marketplaces that can be found on the internet. Let’s find out!
1. OpenSea
The OpenSea platform is the very first peer-to-peer NFT marketplace and also the largest one in the world. You may locate NFT games, music, and other forms of artistic expression by using OpenSea. The inclusion of ERC-1155 and ERC-721 tokens on the OpenSea platform is one of the things that makes this cryptocurrency attractive.
The mining tool that is included in OpenSea is also one of the most significant benefits that it offers as an NFT marketplace. This mining tool can be of use to content creators and illustrators in the process of developing their things and creating their own NFT collections.
OpenSea is the ideal platform for artists to construct their own smart contracts for use in games or digital collections because it allows for easy customization.
Word, which is one of the NFT seller accounts at OpenSea, is responsible for selling images that contain a random word or sentence that has been formed as an NFT. Are you considering purchasing this non-financial asset?
On OpeanSea, the commission and gas fee are as follows:
The OpeanSea Marketplace charges a commission rate of 2.5% on each and every transaction. The creators have the option of determining the commission rate, which can be anything between 0% and 10%.
We are unable to provide a definitive figure for the gas charge that must be paid while using Ethereum on OpeanSea because it varies depending on demand and other factors. In any case, the following is a brief rundown of the gas fee system that OpeanSea utilizes:
• First-time sellers are required to make a one-time payment of the gas fee in order to establish an account.
• A gas cost will be assessed to purchasers in the event that a product with a set price must be acquired.
• In the event that a seller accepts an offer, they will be required to pay the gas fee.
• OpenSea will pay the gas price associated with listing auctions on your behalf.
The following is a list of the benefits and drawbacks of the OpenSea marketplace:
Pros:
• One of OpenSea’s primary advantages as an NFT marketplace is that it includes a mining tool for non-fungible tokens. This mining tool is user-friendly and may assist content creators and illustrators in the development of their things as well as the creation of their own NFT collections in a straightforward manner.
• Content creators have the ability to design their very own smart contracts for use in games or digital collections.
• They offer a selection of digital currencies, which contributes to the platform’s standing as one of the most significant NFT marketplaces. The minimal costs of using the platform also present you with an excellent opportunity to increase your earnings:
Cons:
At this time, cryptocurrency is the sole form of acceptable payment accepted at OpenSea. As a result of the lack of fiat support on the platform, it is not possible to make payments using currencies such as the US dollar or the euro.
Is it safe to store your non-fungible tokens in OpeanSea?
A big YES! In point of fact, as of the year 2022, OpeanSea is the most reliable NFT marketplace that is now available. OpenSea makes a concerted effort to close security vulnerabilities that, if left unpatched, could be exploited by malicious actors. So you may relax knowing that the likelihood of your NFT being targeted by any kind of danger on OpeanSea is quite low.
2. Not common
Rarible is a platform that is owned by the community and displays a variety of digital artworks and collectible things. It is one of the most prominent NFT markets on Ethereum.
You can buy and sell any type of artwork that is listed on the marketplace, just like you do on OpenSea. Additionally, sellers have the ability to produce many NFTs for a single piece of artwork and sell it more than once. Rarible’s user interface is quite straightforward and intuitive, making it ideal for newcomers to the NFT industry. Users who have previously experimented with making transactions through an NFT marketplace that is analogous to OpenSea will also find that learning how to use this platform is simple.
How to purchase and sell NFTs using Rarible can use a variety of crypto wallets, such as MetaMask, Coinbase Wallet, MyEtherWallet, or any mobile wallet that uses WalletConnect. WalletConnect is a protocol that allows mobile wallets to communicate with one another.
Commission and fees for gas on Rarible are as follows:
In a manner analogous to that of OpenSea, Rarible levies a commission of 2.5% on each transaction, with the developer receiving a royalty ranging from 5% to 10%.
Once more, the price of gas shifts in response to shifts in supply and demand. You will need to keep an eye out for a period of time in which the fee is unusually low.
The following is a list of the advantages and disadvantages of the Rarible marketplace:
Pro:
• Rarible’s user interface is quite straightforward and intuitive, making it ideal for first-time participants in the NFT market. Users who have previously experimented with making transactions through an NFT marketplace that is analogous to OpenSea will also find that learning how to use this platform is simple.
• No prior specialized knowledge or coding experience is necessary to participate in this market; newcomers will find it easy to navigate.
Cons:
• The Customer Support team does not respond as quickly as they do on other platforms.
• Because the gas fee is relatively high, this market might not be the best fit for you if you aren’t serious about doing business there and are more interested in just browsing around.
Is Rarible a trustworthy storage option for your NFTs?
Absolutely, storing your NFTs on Rarible is completely risk-free. This location could potentially receive fewer points due to the limited customer support it offers. Having said that, this should only be a cause for concern if things consistently go from bad to worse. In the coming years, we can only hope that they will step up their game and provide superior support to their customers.
3. Larva Lab
Information obtained from: https://www.larvalabs.com/
CryptoPunks is an additional example of a non-fungible token (NFT) that is currently popular on the Ethereum network. Known as CryptoPunks, these 10,000 randomized pixel art characters each have their own set of distinguishing characteristics. Despite the fact that CryptoPunks were initially offered at no cost, At this point in time, the only way to acquire them is to purchase them. The fantastically high price of CryptoPunks is directly attributable to the fact that the game is so widely played. At the moment, the cheapest cost of purchasing one CryptoPunk NFT is going to require you to spend 94.99 ETH.
You will need to make a purchase from the Larva Labs marketplace in order to acquire the CryptoPunks collection. Larva Labs is a company that specializes in mobile software and produces NFT collections such as CryptoPunks and Meebits.
The original article can be found at https://www.larvalabs.com/cryptopunks/forsale/.
Simply connecting your MetaMask wallet is all that is required to purchase NFT CryptoPunks. The next step is to place your bid after going through the available Punks on the list (the ones that have a red background indicate that they are for sale).
Commission fees on Larva Labs:
As of today, the 24th of February 2022, the website for Larva Labs has not provided any information regarding the commission fee that is associated with Cryptopunk transactions.
The following are some of the advantages and disadvantages of the Larva Labs marketplace:
Pros:
A high return on investment can be expected from purchasing punk portraits that are particularly rare and distinctive.
• The platform is very open and honest about the particulars of the portrait as well as the verification of the authenticity of the image.
Cons:
• The transaction fee is quite expensive due to the fact that it uses Ethereum, and it does not support any other methods of payment, such as PayPal or credit cards.
• There are only 10,000 units of Cryptopunk available for purchase at this time.
Is Larva Lab a secure location in which to store your NFTs?
The developers of Larva Lab are coming under fire at the moment (February 2022) for the manner in which they addressed the smart contract flaw that their v1 collection possessed. The impact that this has had on the confidence of investors in Cryptopunks is significant. At this time, the security of your NFT appears to be suspect at Larva Labs; however, this situation may improve in the days ahead.
4. Magic Eden
Magic Eden is an open-source platform for decentralized applications (dApps) that includes digital collectibles, gaming assets, and a great many other features. It is widely acknowledged as being among the most successful Solana NFT marketplaces.
Charges for commissions on Magic Eden
A 2% fee is added to each transaction completed on the Magic Eden platform.
The following are some of the advantages and disadvantages of shopping at the Magic Eden market:
Pros:
• The marketplace at Magic Eden is a platform that is easy to use and has a design that is convenient.
• The NFT listing can be accessed through Magic Eden launchpad by both novice and experienced NFT creators alike.
• Low transaction fees are offered, and creators are given the opportunity to retain full power and control over their work.
Con:
• Due to the open nature of the platform, it is not uncommon to come across content that has been plagiarized or repeated.
It is limited to only supporting the Solana blockchain and does not offer support for any other chains.
5. Axie Infinity and Beyond
The Axie Infinity is the second-most recent addition to what is already a very large fleet for this particular platform. Axies are one-of-a-kind digital creatures who have the appearance of Pokemon and relish the opportunity to do battle. On the Axie Marketplace, participants on the platform can use Axies to buy and sell non-fungible tokens (NFTs).
Commission costs for Axie Infinity trades are as follows:
Axie gets a cut of 4.25% of all transactions that take place on the platform and also charges a fee for breeding.
The following is a list of the advantages and disadvantages of the Axie Infinity marketplace:
Pros:
• There are a variety of applications for Axie Infinity’s NFTs. They can be utilized in the game’s battles, and the tokens gained from these encounters can be used to breed new Axies. A player who sells his Axies on the Axie NFT Marketplace can benefit financially from this situation.
• It offers players who game professionally or aspire to do so tremendous opportunity to earn money from their activities.
• Because it is user-friendly for novices, virtually anyone may quickly acquire the skills necessary to use Axie Marketplace with very little effort.
Cons:
• If this is your first time using a platform like Axie Infinity, you should not expect it to be simple to navigate. People typically need considerable practice before they can get the hang of its user interface. It’s possible that this is one of the reasons why users are leaving the platform in droves.
• Not only will you need to create a wallet for Ethereum, but you will also need to create a wallet for Ronin, into which you will deposit ETH in order to use Ronin. Then make a minimum purchase of three Axies, each of which will set you back more both monetarily and in terms of the amount of time it will take. Having said that, it is well worth the trouble for those who work in their field full-time.
Is Axie Infinity a reliable location to store your NFTs in all circumstances?
In this particular market, there have not been any warning signs raised yet that point to potential safety concerns. Therefore, there is no cause for concern regarding the storage of your NFTs in this location.
6. A Smart Passageway
This article was retrieved from: https://niftygateway.com/
Nifty Gateway is an established and reputable high-end NFT marketplace that facilitates the purchase and sale of crypto artworks. The fact that Nifty Gateway works with some of the most well-known content providers, as well as major businesses, athletes, and artists, is likely one of the primary factors contributing to its immense success.
It is important to keep in mind that Nifty is a custodial NFT marketplace, even though it is perfectly safe to buy and trade non-fungible tokens on Nifty Gateway. This indicates that the NFTs are not kept in your wallet but rather on the platform itself. There is no requirement for you to connect your cryptocurrency wallet to OpenSea.
Commission fees charged by Nifty Gateway are as follows:
On this particular platform, the commission charge is set at 15%, with 5% designated as the service fee and the remaining 10% designated as the artist fee.
The following is a list of advantages and disadvantages to the Nifty Gateway marketplace:
Pros:
Even though it is a custodial NFT marketplace, purchasing and selling non-fungible tokens on Nifty Gateway is a risk-free activity. This indicates that the NFTs are not kept in your wallet but rather on the platform itself. There is no need to connect your cryptocurrency wallet at this time.
• Creators have access to technical support, which makes it simple for users who aren’t familiar with programming to explore and make use of all the available amenities.
Cons:
• There are no affiliate programs available. Those individuals who are actively looking for possibilities like this could be discouraged by this.
• A stringent approval procedure has been developed in this location in order to provide creators with access to the platform. It is a rather unrealistic forum for aspiring artists to use.
7. KnownOrigin (also KnownOrigin)
KnownOrigin is an NFT Marketplace that primarily caters to art aficionados and is a paradise for those individuals. Since it places an emphasis on digital art, other types of NFTs, such as exotic avatars and monsters, do not exist in this market.
In comparison to its competitors, KnownOrigin’s total trading volume during its entire history is rather modest. However, this only makes sense because it offers the artwork that has been picked the most carefully and is the greatest of the best. As a result, it attracts the elite members of society whose taste buds are only stimulated by art.
Commission costs on KnownOrigin transactions include:
On secondary sales, KnownOrigin takes a commission of 3%, while the artist receives a royalty fee of 10% of the total amount.
The following is a list of the advantages and disadvantages of the KnownOrigin marketplace:
Pros:
• The extensive screening procedure required to join this platform as a content producer is, on the whole, a positive development. It assists in the curation of artwork of high quality, and one does not need to look anywhere else to find them.
• The secondary sales commission that creators receive is 12.5% higher than the commission that they receive from competitors such as SuperRare.
Cons:
The application process to join the platform is not an easy one to pass. To get in, you don’t need to have a massive fan following, but you do need to have an amazing portfolio. It is possible that this platform is not the right fit for you if you are just starting off.
8. SuperRare
Being a premium online marketplace is something that SuperRare takes great pleasure in. In contrast to Rarible, where you are likely to become confused due to the presence of live auctions and all of the animated GIFs, the UI of SuperRare is straightforward and simple. The work that creators submit will first be reviewed before it is made available on the platform.
You can access this site by signing up with either MetaMask or Formatic, which are both digital wallet services.
Commission fees charged by SuperRare are as follows:
On both primary and secondary purchases, purchasers are subject to a 3% commission fee when making a purchase through the Superare platform. The artist receives ten percent of the royalties.
Here are the benefits and cons of SuperRare marketplace:
Pros:
• The site presents itself as a social network, and it is moderated. So, you can be confident that you won’t be inundated with unrelated stuff.
• SuperRare is not limiting in terms of what creators can convey in their art, including nudity.
Cons:
• Fees are comparatively higher. SuperRare commission on the first sale is 15%. Any secondary sale of the artwork would offer the creator 10% commission each time their work is transacted.
9. Foundation
Foundation is quite a popular marketplace with popular NFTs being sold on its site. NFT of Nyan Cat, an internet meme and Aplex Twin’s audiovisual collectible, are a couple renowned NFTs that this marketplace proudly presents in its hall of fame. The famous Nyan Cat NFT
Commission fees on Foundation:
This marketplace charges a 5% commission on all transactions.
Here are the pros and downsides of Foundation marketplace:
Pros:
• Foundation’s platform is straightforward to use for both artists and consumers, and the action process here is relatively smooth.
• Searching and browsing digital art here is a snap compared to most of its equivalents.
Cons:
• As the foundation is an invite-only marketplace, creators need to have an excellent network to get invited. The marketplace might lose out on some amazing talent due of this restriction.
• The gas and miting cost could add up to about US$40, depending according on the current gas pricing. If you are planning to manufacture a lot of NFTs, resorting to this marketplace could make a large dent in your money. To top it off, it takes 15% commission on the selling price.
10. Mintable
Mintable, just like OpenSea, is an open marketplace, supported by billionaire Shark Mark Cuban. This portal is great for people wishing to buy and sell all kinds of NTFs, from photography to music.
Ethereum is the cryptocurrency this site accepts for transactions. An ambitious NFT collector or creator will need to purchase Ethereum from a crypto exchange first, then connect their wallet to Mintable to permit bidding and buying on the marketplace.
Commission fees on Mintable:
Mintable has a different commission structure based on the nature of NFTs. It charges a 2.5% commission on everyday things, 5% on gasless items and a huge 10% commission on the printed series.
Here are the pros and cons of Mintable marketplace:
Pros:
• Mintable is an inexpensive choice relative to its peers, as it includes a gasless minting option.
• Mintable has a wide assortment of photography and other forms of art, making it an enticing site for purchasers wanting diversity.
Cons:
• The quality in this marketplace exists on a continuum, and there is no way to choose the top grade work here. Finding the ideal digital asset can be challenging if you are acting in the role of a purchaser.
11. Decentralized region
Decentraland is an immersive virtual reality (VR) universe that allows users to trade digital real estate. Through the use of its Builder tool, designers are able to make fascinating Avatars as well as personalize unique scenes and buildings. Casino nights, parties, and the unveiling of a virtual gallery are just some of the exciting events that are scheduled to take place in this marketplace.
Fees for commissions on the Decentraland Marketplace are as follows:
On this particular platform, the commission price is 2.5%. It is significantly lower than the fees that are required on the majority of marketplaces.
The following is a list of the advantages and disadvantages of the Decentraland marketplace:
Pros:
• Providing a structure for a market that is both free and open, the platform gives customers the opportunity to have a say in the policy amendments and land auctions.
The digital assets that users hold are kept safe via a smart contract that is based on Ethereum, which makes this marketplace exceptionally secure.
Cons:
• In comparison to its competitors, it has a low level of liquidity due to the fact that many individuals have not yet learned how to get the most out of the crypto world and digital real estate. Despite the fact that this is a disadvantage for the time being, we cannot overlook the growth potential of this sector.
12. Enjin Marketplace
We are confident that each of you is familiar with Enjin, the platform for video game producers that makes use of ENJ coin as the indigenous token. The Enjin marketplace was developed with Enjin-based NFTs in mind from the beginning. When a user wants to offer an item for sale on the Enjin marketplace, they are needed to use the Enjin wallet. In addition, users have the ability to trade and collect a wide variety of non-fungible tokens (NFTs), including branded crypto collectibles, digital arts, and gaming products.
Commission costs on the Enjin Marketplace are as follows:
The commission cost for NFT transactions on this platform is a flat rate of 2.5% of the transaction amount.
The following is a list of the advantages and disadvantages of the Enjin marketplace:
Pros:
• The platform layout is user-friendly for the NFT buyer who requires a high number of data points to access a particular NFT. This is because, in comparison to the layout pages of other markets, the platform layout page delivers more information.
Cons:
• There are restrictions placed on the mode of payment. The ENJ coin is the only currency accepted on the platform. There is a prohibition on using a variety of payment methods, including fiat currency and PayPal.
How to Make an NFT Account?
The first thing you’ll need to do to make NFT is design your artwork. You have the ability to produce memes, graphic pieces, music, or even GIFs.
Because these marketplaces feature an upload menu with short steps that are simple for consumers to understand, it is simple to use some marketplaces like OpenSea and Rarible to help you create or mint NFTs because these marketplaces make it straightforward to do so. Especially for those who are doing it for the first time.
If you upload your artwork to the NFT marketplace, it indicates that you have successfully made an NFT and that it is now available for purchase.
Which of These Two NFT Marketplaces Do You Think Is the Best?
What a wonderful thing it would be if we knew the answer to that question for sure, don’t you think? We say it depends! While one of your coworkers may consider a marketplace to be exceptional due to the low fees associated with using it, you may place a higher value on having access to outstanding digital art or providing excellent customer service.
There aren’t many markets that can claim to be truly original in terms of the digital content they curate. For example, they might solely be interested in art and photography, and very few of them might appeal to gamers. Therefore, everything depends on the specifics of what it is that you are trying to find.
In conclusion, the ideal marketplace for NFTs is the one that takes into account your requirements and top goals.
