The top NFT marketplaces can be the difference between selling a new work of art and discovering a new collectible to acquire. NFT markets are also more than just locations to purchase and sell digital art; they provide access to a dedicated community of artists and collectors.
To select the finest NFT marketplace for you, you must examine the fees you’ll be paid, and the type of art sold – does it match your aesthetic? – and even the blockchain and cryptocurrency that will be utilized. There are many to choose from, and our guide to NFT cryptocurrencies can assist. Some NFT marketplaces are opting for cheaper gas fees (which you must pay to establish your NFT) and lower carbon footprint provided by newer blockchains.
We have compiled a list of the best and most intriguing NFT marketplaces where you can buy and sell digital art. Whether you’re looking to buy, sell, or are simply curious about NFTs, one of these marketplaces should meet your needs. Even if you do not intend to use an NFT marketplace at this time, anyone in the creative sector should likely be familiar with what they are and how they function.
If you’re still unsure about what an NFT is, you should read our guide on the subject first. If you’re familiar with NFTs and believe they could be a potential outlet for your own creative work, then you can view my lesson on how to build a free NFT or read my article. NFT definitions, slang, and terms: everything you need to know, which explains every phrase used by individuals.
If you’re prepared, continue reading for our list of the top NFT marketplaces. At the end of this tutorial, you will find answers to frequently asked questions that provide a more in-depth explanation of some concepts used throughout.
The best NFT exchanges
01. OpenSea
OpenSea is one of the oldest and most popular NFT markets. It is also one of the most comprehensive, featuring every type of NFT, including art, music, photography, and sports collectibles. Consider OpenSea to be the Amazon of NFT markets. It truly carries everything. This is reinforced by the fact that it supports more than 150 cryptocurrencies. OpenSea is simple to use, and you can create a free account and begin mining, selling, and browsing within minutes.
In addition, OpenSea is now a gas-free NFT marketplace thanks to cross-blockchain interoperability. The marketplace now accepts Polygon, so there are no transaction costs associated with making purchases. OpenSea believes that artists can now “earn their way into crypto for the first time.”
02. Magic Eden
Magic Eden(opens in a new tab) is quickly becoming one of my preferred new NFT markets. Since the NFT Crash, there has been a slow drop in the use of Ethereum for trading and minting NFTs — it’s still large, but the high gas fees are causing a reduction in usage.
In its stead comes Solana, a more recent blockchain that is cheaper and friendlier to the environment. According to CryptoSlam(opens in new tab), Solana NFT sales increased by 436% over a 24-hour period at the end of May compared to the preceding period.
If you want to trade Solana NFTs, you’ll need a particular wallet – we recommend Phantom(opens in new tab) – and there’s no better NFT exchange than Magic Eden, a Solana-specific platform. You can find both established NFT collections such as Trippin’ Ape Tribe and numerous new collections. You must submit an application for listing if you desire to launch a collection or an NFT.
03. Elegant Gateway
Nifty Gateway(opens in new tab) is possibly the NFT marketplace with the most eye-catching, high-dollar NFT transactions. It is where the two most expensive NFTs to yet were sold: Beeple’s CROSSROAD and Pak’s The Merge, which sold for US$91.8 million in December 2021 (remaining the most expensive NFT at the time of writing).
The platform is popular on Twitter and attracts celebrity NFTs. However, do not let this deter you. There are a few distinguishing features in the Nifty Gateway. First, it utilizes “open editions,” in which an unlimited number of copies are produced for a limited time and sold for a base price. After the expiration date, no additional NFTs are ever issued. This results in scarcity and a robust secondary market. Second, Nifty permits collectors to acquire NFTs with Fiat (government-issued currency), which means credit cards can be used instead of cryptocurrencies. This makes it more user-friendly for new purchasers unfamiliar with cryptocurrency wallets.
04. Rarible
Rarible(opens in a new tab) is an NFT marketplace designed to sell both individual artworks and art collections. It attracts sports, gaming, and media companies, as well as artists releasing new works. Rarible is owned by the community and promotes decentralization. It utilizes its own token, RARI, and its users participate in moderation and have the ability to vote on platform updates. Rarible has worked with several major companies, including Adobe, to protect artists’ work and develop exclusive NFTs.
In addition to Ethereum, Rarible employs the Flow and Tezos blockchains. You decide which token to use when minting your NFT, and you can share search choices with OpenSea. Which blockchain to chose is an interesting subject. Ethereum is the most popular cryptocurrency for NFT minting, despite its large carbon footprint and gas prices. Tezos gas prices are cheap (about $0.50), however the platform is designed for artists releasing compilations. Flow employs ‘lazy minting,’ which means creators pay close to zero fees, and it’s a ‘proof-of-stake’ blockchain, which offers a significantly smaller carbon footprint than Ethereum.
05.Coinbase NFT
The Coinbase NFT marketplace(opens in new tab) is among the newest on the market, having opened in April. Coinbase has been at the center of the cryptocurrency revolution for some time, and its trading app and platform are among the most user-friendly and secure. Nevertheless, the site has encountered issues; establishing its NFT marketplace right as the NFT market crashed was awful timing.
Presently, Coinbase NFT has everything it needs to become a massive success; it’s easily connected to the Coinbase trading app and the Coinbase crypto wallet, it’s incredibly simple to use and has one of the most robust user experiences available, there are exclusive NFT projects launching on the marketplace – the Bored Ape Yacht Club film trilogy(opens in new tab) – and for a limited time, new users receive 0% transaction fees.
6. Binance NFT
Binance is one of the major cryptocurrency exchanges, and its Binance NFT(opens in a new tab) is quickly becoming one of the largest NFT marketplaces in existence. Furthermore, it is supported by its own blockchain. Binance NFT is regarded as one of the most future-proof NFT marketplaces for these reasons.
This market’s size and scope allow it to provide exclusive collaborations and events that others may covet. If you have Binance tokens (BNB), it is much simpler to enter the marketplace, and you can bid using ETH, BNB, or BUSD. If you wish to sell, you can either deposit ETH or BSC NFTs.
07. SuperRare
SuperRare(opens in new window) gives the NFT environment a more gallery-like atmosphere. It is an NFT marketplace that prioritizes creative legitimacy and aesthetic aim above meme-friendly work. SuperRare will not be filled with celebrity NFTs. It is rumored that only 1% of artists that apply are accepted, which may sound snobbish, but it means that if you are chosen, you will be included in a collection of carefully curated and intriguing artworks.
The technique gives SuperRare the sense of a high-end exhibition, which is heightened by a rule allowing its artists to mint one of their originals — there are no Editions here. This indicates that the items are scarcer and, as the name says, rare. SuperRare is one of the top NFT marketplaces for artists and serious art.
08. Async Art
Async Art(opens in a new tab) is a well-known NFT marketplace for “programmable art.” Each work of art is composed of a Master and Layers; Masters are the whole NFT, whilst Layers are individual, modifiable elements that comprise the work. Everything is ‘Tokenized,’ which means that different artists can own distinct layers and contribute to the artwork’s transformation.
Programmable art is at the forefront of digital art’s avant-garde. It enables several artists to modify an artwork over time, and it is a sort of NFT art that cannot be shared on more conventional gallery sites like SuperRare. Async Art has also introduced Blueprints, which enables artists to construct generative projects similar to Bored Apes.
09. MakersPlace
MakersPlace(opens in a new tab) is an additional intriguing NFT marketplace for serious art. Here you can find prominent artists, galleries, and institutions offering NFTs of their work, such as Damien Hirst, Christie’s, and comic book great Robert Liefeld (opens in new tab).
The digital signatures of MakersPlace artists are recorded on the blockchain. Only a limited number of original editions are minted, creating scarcity, and buyers receive full ownership of the artwork; even if the artwork is downloaded and reproduced, it will not be authentic or bear the digital signature of the artist.
10. KnownOrigin
KnownOrigin is one of the earliest NFT marketplaces. It focuses on offering unique and collectible artworks in timed-release events called drops, which allow artists to limit the amount of copies issued. This can lead to scarcity and an increase in prices. To join, artists must submit an application and be verified, which only adds to the group’s exclusivity.
When bidding on items on this marketplace, you may wish to consider the associated fees and carbon footprint. Additionally, KnownOrigin supports cooperation on NFTs and makes a significant effort to support community messaging and provide guidance around drops and sales, including making secondary sales transparent in a separate marketplace. Examples of drops on KnownOrigin include Seth Tillett’s photo collection of Jean Michel Basquiat.
11. Mintable
If OpenSean is the Amazon of NFT platforms, Mintable is Etsy. This new NFT marketplace entrant is funded by billionaire Mark Cuban and intends to provide extensive content and an intuitive interface.
In reality, this means you can construct an NFT from practically any digital item – picture, gif, video, audio file, text document, etc. – and add it to your platform-based store. It is really simple and requires minimal understanding of NFTs, crypto wallets, and blockchains. Mintable supports Ethereum by default, but you can also mint for free using Immutable X. Mintable University(opens in new tab) is a free resource on the marketplace that offers helpful video courses to improve your NFT skills.
12. Foundation
Foundation(opens in new tab) was operated like an exclusive artist’s club; it began as a community-curated platform managed by a select group of artists. Now, though, it is welcoming everyone. It has only been operational for a year, yet its developers have made a total of $163,263.94. To join Foundation, you must receive an invitation from a current artist, and each artist may only use one invitation.
The artist earns 85% of the value of an NFT sold on Foundation, while secondary sales earn 10%. This is cheaper than some other NFT marketplaces, but you will discover that NFTs on Foundation are, on average, priced higher and retain their worth. Creators on DeviantArt tend to be more honest and artistic than those on other marketplaces.
13. BakerySwap
BakerySwap(opens in new tab) is a modest NFT marketplace geared toward crypto enthusiasts. This venue is intended to encourage and reward its members with gamification awards, although you’ll likely find greater art on other marketplaces, such as Foundation and SuperRare.
On Binance Smart Chain, this is an automated market maker (AMM) and decentralized exchange (DEX) (BSC). It employs an internal BakerySwap token (BAKE). The food analogy of the marketplace extends to the ability to earn bonus BAKE tokens by purchasing “combo meals.”
The BakerySwap marketplace holds frequent art and meme competitions, and BAKE tokens can be used to purchase NFT games. This market facilitates the expansion of the metaverse’s content. Additionally, BakerySwap is user-friendly for those who are new to NFT trading.
14. Zora
Zora(opens in a new tab) was once an invitation-only platform for artists akin to Foundation, but it has subsequently transitioned into an open marketplace that anybody can access. It is dedicated to providing artists and creators with greater ownership and control over their work. Additionally, it is simple to use and supports perpetual bids, allowing anyone to bid in any currency.
This marketplace has developed into a good environment for music NFTs and a bridge between the physical and digital worlds. Zora auctioned off both digital and physical cassette copies of RAC’s Boy album. Zora is becoming a marketplace for actual things sold to superfans, such as Nike designer Jeff Staple’s limited edition sneakers.
The top NFT exchanges: Frequently Asked Questions
In the area of NFT marketplaces, there is a great deal of language and dispute surrounding NFTs themselves. Many NFT marketplaces are attempting to make their platforms more user-friendly, and some even accept debit and credit cards in addition to crypto wallets, making it easier to create, sell, and purchase NFTs. Listed below are the solutions to some frequently asked questions that many NFT beginners continue to have.
What are fuel costs?
This is the fee required to perform a function on the Ethereum blockchain, including the creation (minting) of an NFT. Gas fees are measured in gwei, and they fluctuate based on how heavily the blockchain is utilized. Per transaction, you will be charged 0.0042 ETH on average. Early in the morning, between 1am and 3am (UTC), and late at night, between 9pm and 11pm (UTC), you can get lesser rates (UTC).
Can I avoid paying for gas?
Yes, certain NFT marketplaces provide gas-free minting. Among these are OpenSea and Rarible. This strategy places the gas expense on the buyer rather than the creator, therefore it will be reflected in the sale price (a little like VAT, or the fuel tax added by some airlines). Some blockchains have no gas fees or significantly lower fees. Polygon on Opensea and ImmutableX on Mintable are examples. Before minting or purchasing an NFT, investigate the costs and blockchain and token used.
What is coinage?
As with actual cash, “minting” refers to the process of establishing a blockchain-based currency and NFTs. Typically, NFTs are built using Ethereum. The process of minting records data in an immutable and tamper-proof public ledger that can track and follow the NFT when it is sold in the future. The above-mentioned gas fee is a typical expense associated with minting. As previously said, however, some marketplaces are growing inventive in how, when, and to whom they impose fees.
Describe a blockchain.
Investopedia defines a blockchain as “a distributed database shared across the nodes of a computer network.” The strength of blockchain technology is that it ensures security and trust without a third party, hence accelerating data transactions. The entered information is irreversible, ensuring that it is permanent. For NFTs, this entails the artist’s ability to track their NFT and guarantee a percentage of future sales.
Do I require a digital wallet?
Most of the time, yes. In most instances, payment must be made in cryptocurrency to mint or purchase an NFT. Consequently, the majority of NFT marketplaces require the creation of a crypto wallet in order to mint and trade NFTs. A common one is MetaMask, though Coinbase is another secure wallet. Some newer NFT marketplaces, such as Nifty Gateway, have started allowing the use of Fiat currency payments (US dollars, etc) via credit and debit cards, making access to NFTs easier.
Can anything be an NFT?
Yes. Any kind of digital file can be stored as an NFT. Most marketplaces are set up for digital artwork, but more are now supporting video, game assets, and music. Physical items are also now digitised as NFTs, for example physical limited edition Nike trainers. Expect NFTs to exist on and between the digital and physical spaces in the future.
Are NFTs controversial?
Yes. You can’t escape the fact Ethereum minting has a high carbon footprint, but perhaps not as high as some believe. Yet everyone accepts there is a problem. Ethererum 2.0 should solve this issue, and is due this year.
Are there any energy-efficient blockchains?
Yes, and NFT marketplaces are now offering alternatives to energy-hungry Ethererum with better carbon footprints. These include Flow, Tezos, and Polygon. New blockchain Solana boasts of being carbon-neutral. Check on your NFT marketplace which is being used and opt for one that suits your conscience.
