Best NFT Marketplace
Each passing month marks a new high for the NFT market – the latest and most promising creation of the technological world. In October 2021, it reached a trading volume of $10 billion, or a 704% increase since the previous quarter. The lucrative opportunities laying in the non-fungible tokens niche are now attracting investors of all scales.
If you are one of those willing to capitalize on the NFT craze but are still waiting on the sidelines, you are probably wondering where to start. This guide covers the top NFT marketplaces you should consider based on the range of digital assets featured and their trading volume, security, credibility, and functionalities. Let’s dive in!
The 10 Best NFT Marketplaces
The latest cases of hacks, bugs, and insider theft that we have seen across marketplaces like OpenSea and Nifty Gateway are an indication that, aside from huge growth opportunities, the NFT market also bears significant risks.
While no marketplace will ever be 100% secure for digital creators and NFT artwork collectors, it is imperative always to do your due diligence and go with proven names in the industry, especially in a niche as young and as lucrative as the NFT one. Here are some of the top NFT platform suggestions you should consider:
You probably wonder why is OpenSea featured here if it was hacked recently. The reason is that OpenSea is the original P2P crypto art online marketplace. Today, it is the biggest NFT marketplace and the most trusted place to buy and sell non fungible tokens. Think of it as the eBay of NFT marketplaces. It was founded in 2017 and, over the years, it became far and away from the largest player in the industry.
Today, the largest NFT marketplace enjoys over $4 billion in trading volume, meaning digital asset buyers and sellers can enjoy deep liquidity.
OpenSea features more than 34 million digital art items, based on the ERC721 and ERC1155 Ethereum Network protocols. On the platform, you can find all types of digital trading card brands, in-game digital collectibles, digital artwork, and explore virtually every corner of the new creative economy.
The sign-up process is quick and easy. You can connect various types of wallets and make your first NFT or digital collectible purchase/sale instantaneously. The UI is easy and intuitive.
The LA-based digital artwork marketplace has been around since 2020 but already holds a significant market share. Rarible gives you the chance to dive into all types of art NFTs and digital assets, including graphics, photography, music, domains, decentralized finance, digital game items, virtual reality, and Metaverses.
The community-owned marketplace supports ERC-1155 and ERC-721 tokens and various wallets, including MetaMask, Coinbase Wallet, MyEtherWallet, and more. You can use the funds in your software wallet or even top up with fiat via bank transfer or debit card.
On Rarible, you can buy, create, and sell NFTs. The platform has a clean UI and is very easy to use. Even beginners will feel at ease and find the marketplace a welcoming environment to purchase NFTs for the first time.
3. Nifty Gateway
Nifty Gateway is another big name in the NFT marketplaces niche. Before you jump the gun and raise the point that users’ funds were stolen mentioned before, I should clarify that it is backed by Gemini – one of the most reputable crypto exchanges. So, if you decide to set-up a Nifty Gateway account, you should rest assured that the platform’s security will be top-notch as long as you use an encrypted blockchain verified wallet.
Furthermore, it was Nifty that hosted one of the world’s most significant NFT sales – Beeple’s Crossroad artwork, sold for $6.6 million at the start of 2021.
In terms of usability, Nifty is way ahead of many of the other NFT marketplaces on this list. Both the UI and the UX are next-level. Buying and selling NFTs is a streamlined process and gets especially easy if you have a Gemini exchange account. Even if you don’t, you can fund your account with a credit card or simply deposit ETH from your mobile wallet.
In terms of trading volume, Nifty usually fluctuates within the top 5 NFT marketplaces.
SuperRare is another long-standing player in the digital art scene and the industry of non-fungible tokens, having been launched in 2018. As its name suggests, SuperRare isn’t your traditional NFT marketplace. The platform specializes in curating fine art and rare digital artwork from some of the best artists globally.
As a result, SuperRare has a collection of some of the highest-selling one-of-one art, making it one of the top NFT marketplaces for those looking to trade rare digital items. According to its own statistics, artists on SuperRare have earned over $102m over the years, with a secondary market of $59m.
Furthermore, if you are an artist, you would love the platform as it works exclusively to support NFT creators by telling their stories and raising awareness for their work.
Getting started on SuperRare is easy and straightforward. The supported wallets include MetaMask, Fortmatic and Wallet Connect.
Foundation is one of the newest players in the NFT marketplace. Although it launched in February 2021, it quickly gained popularity. To date, Foundation has helped creators earn over 41,000 ETH. While it still can’t compare to the most NFT marketplaces and leaders in the field, Foundation is a worthy addition to this list.
If you are looking for a place to create NFTs and buy and sell your programmable art, then Foundation is a good choice. It supports MetaMask and WalletConnect. Once you link your digital wallet, the platform gets very easy to navigate. It has a minimalistic and professional look, making it an excellent choice for beginners and advanced NFT traders.
The platform employs a community-led curation model where its team selects the non-fungible token artworks featured on the homepage, newsletters, and social channels. Creators receive an 85% commission on primary sales and 10% on secondary deals. In a bid to generate more interest, the platform’s team also regularly hosts live auctions and online bidding events for digital artworks.
Founded in 2018, MakersPlace is another popular boutique NFT platform specialising in hosting exclusive collections of digital fine art. While it is nowhere near the top in terms of trading volume, what makes it unique is the fact that it features plenty of one-off creations.
MakersPlace is a popular platform among celebrities and leading NFT artists, including Beeple, Shakira, T-Pain, and more. Simply put, if you are looking for a place to submit digital artwork or want unique and high-quality digital art items, MakersPlace is your place!
The platform is very user-friendly and allows you to set up an account even with a Google or Facebook profile. You can purchase art through a MetaMask wallet or even with your credit card. Bear in mind that MakersPlace charges a 15% commission on all purchases in Ether. There is also a credit card transaction fee for purchases done through a credit card that you will see upon transaction confirmation.
7. NBA Top Shot Marketplace
As its name suggests, the NBA Top Shot Marketplace isn’t your traditional platform to buy and sell NFT items. It is specifically tailored to NBA fans and basketball lovers who want to dip their toes into the NFT world.
However, this doesn’t stop it from being the second-largest NFT marketplace globally. We can go as far as saying that, thanks to the NBA Top Shot Marketplace, NFTs today are more trusted and widely adopted. In 2020, the leading basketball league globally, alongside Dapper Labs, launched a platform where you can purchase digital trading cards featuring NBA video highlight clips.
Starting on the platform is easy and straightforward and will take no longer than a couple of minutes. You can make payments with a software wallet or a credit card. However, bear in mind that you will be required to add your phone number for SMS verification.
8. Known Origin
At first glance, Known Origin won’t capture your attention. The platform isn’t as fancy looking as the offerings of some of its competitors, but, in the end, this isn’t the most important thing, right?
Known Origin makes this NFT marketplaces list as it is very reputable and easy to use. Known Origin also supports one of the most diverse sets of digital wallets, including MetaMask, Coinbase Wallet, Fortmatic, WalletConnect and Portis.
But the factor that most clearly distinguishes Known Origin is its remarkable collection of exquisite non-fungible token art picks. The marketplace focuses mainly on digital art, meaning you won’t find any wacky avatars or “cheap” NFT art designed for the sole purpose of making money.
Recently, Known Origin struck a partnership with Adobe to introduce a new way to provide and assess digital content provenance and attribution.
Launched in 2020, BakerySwap functions as both a decentralized exchange and an automated market maker where you can buy, sell, and collect NFTs. However, bear in mind that it is one of the smallest NFT marketplaces on this list, so if you are planning to trade programmable art at scale, BakerySwap might be a bit too limited.
It supports three software wallets, including Binance Chain Wallet, MetaMask, and WalletConnect. You can set up your account in just a few minutes. Selling digital creations is also a straightforward process.
However, bear in mind that all transactions facilitated on the platform use BAKE, the proprietary token of BakerySwap.
Unlike NFT marketplaces that prioritize the curation of exquisite art like MakersPlace and SuperRare, at BakerySwap, you will find all types of NFTs – from meme listings to async art and in-game NFTs.
10. Binance NFT
It was only a matter of time until crypto exchanges started taking advantage of the NFT boom. Binance, alongside Gemini’s offering, is the first NFT marketplace service provider, but Coinbase, for example, will soon launch its own NFT listing and trading service as well.
If you choose Binance NFT, you will ensure to capitalize on top-notch security features, proven track-record, reliability, and beginner-friendly platform interface the Binance smart chain is known for.
Furthermore, existing Binance exchange account holders can quickly shift to the non-fungible token marketplace and start trading. It also supports NFT drops and generates significant daily liquidity, meaning you can find buyers and sellers without hassle.
However, it is worth noting that Binance NFT is more of an “another cool feature” of the exchange and isn’t as developed as other NFT markets. In a nutshell, it doesn’t offer such an extensive collection of NFTs, and the high-quality art is still somewhat lacking.
Best NFT Marketplace: Conclusion
The NFT marketplace is dubbed to be the next big thing in the blockchain technology and crypto world. And if you had missed joining when Bitcoin first emerged onto the scene, you probably won’t want to miss capitalizing on NFT’s potential. However, bear in mind that the niche is still in its infancy.
The market isn’t evolved, and there are still glooming risks. Due to this, my advice is to consider going with one of the best NFT marketplaces featured in this article. The suggested NFT marketplace list gives enough options no matter whether you want a market with deep liquidity, a place with curated fine art, or a beginner-friendly place to buy and sell NFTs.
Related: Best Crypto Apps
What are the most popular NFTs?
The most popular NFTs to date are digital art, including digital illustrations, static and motion graphics, and more. A great example is Beeple’s “The First 5000 Days” work which was sold at a Christie’s auction for over $69 million paid in Ether. Digital collectibles, domain names and video content like NBA’s Top Shot collection are also very popular.
What are the best photography-focused NFTs?
Currently, there are just a few photography-focused NFT marketplaces. However, most of them are at the start of their journey, meaning they still aren’t so well-established and with significant liquidity. I suggest you try Ephimera and UniqueOne as some of the best picks. In the future, you can keep an eye on Focus Market when it launches. You can also explore the photography-dedicated sections of Mintable or AirNFTs.