2021 saw the non-fungible token (NFT) market explode, with some crypto art and other virtual collectibles selling for millions.
In this guide, you will learn about the top seven NFT marketplaces that allow you to buy, sell, and collect NFTs.
OpenSea is a New York-based non-fungible token (NFT) marketplace founded in 2017. On this platform, users can buy and sell blockchain-backed collectibles, art, music, domain names, trading cards, and virtual worlds, among other items.
The OpenSea website is simple and easy to navigate. Users can access all the NFTs in the marketplace, the statistics of the top NFTs on the platform, and the help center for guidance. Beginners will find it straightforward to mint and sell NFTs on OpenSea. Users also enjoy almost gas-free listings after listing their first NFT.
NFT creators on OpenSea have the advantage of earning royalties every time a buyer acquires their item. You can set up a royalty fee of up to ten percent. Moreover, users can add items from other NFT marketplaces like Rarible and Mintable.
Users on OpenSea can add other networks besides Ethereum to their wallets using Chainlist. Some of the top-performing non-fungible tokens on this marketplace at the time of writing were CryptoPunks, Sorare, and Ethlings.
Rarible is an LA-based NFT marketplace that categorizes its NFTs into art, photography, music, domains, DeFi, games, and Metaverses. Here you can buy, sell, and create non-fungible tokens. The marketplace was founded in 2020.
When you visit Rarible for the first time, you will notice that it is quite busy. Therefore, it might take you a minute to figure out how to get started. You will also see the top-selling NFTs and the hot collections on the homepage. This gives visitors a glimpse of the marketplace activity. Rarible also displays several celebrity NFTs. The royalty fee is ten percent.
The platform provides verified badges to authentic and dedicated collectors and creators. Users have to fill a form to get verified. Additionally, you can view and manage your Rarible collectibles on OpenSea.
You can also list NFTs on OpenSea in RARI. This is the Rarible governance token. Active users that influence the decision-making process of the marketplace receive rewards in RARI. Rarible wants to eventually evolve into a fully decentralized autonomous organization (DAO) where users make all the decisions.
SuperRare is a Delaware-based Ethereum-based marketplace for rare pieces of digital art. Artists showcase their work on this platform by invite-only because SuperRare only wants to display high-quality work. Moreover, it wants to have a proportional number of active collectors and artists.
SuperRare uses a simple design allowing users to find what they want easily. The platform also promotes new art releases as a way of supporting its artists. SuperRare has built-in royalties for its artists on secondary sales. The primary and secondary sale commissions for creators are 85 and ten percent, respectively. Buyers pay a three percent fee on all purchases.
SuperRare was established in 2018.
Mintable is a Singapore-based NFT marketplace where you can mint, buy, and sell non-fungible tokens. The platform was founded in 2018 and supports Ethereum and Zilliqa-based NFTs. Creators can set royalties of ten percent.
Mintable offers several categories of NFTs, including art, game items, collectibles, and music. This marketplace also displays the top NFTs on the homepage. You will also find it effortless to navigate through the website.
There are three types of items on Mintable: gasless, normal, and printable. When an item sells, the platform charges 2.5, five, and ten percent fees on normal, gasless, and printable items. The marketplace also has an NFT DAO allowing community-driven governance. Each voter gets a voting non-fungible token that contains their voting power.
Users can access extra features like a custom store and an advertising package by upgrading to the Mintable pro plan.
Nifty Gateway is one of the top NFT marketplaces. It is headquartered in New York and was founded in 2018.
Nifty is a centralized marketplace for digital art. Interestingly, you do not need to pay in ETH to use this platform. That is because you can buy and sell nifties (the term for NFTs on the platform) in USD. Regulated US digital currency exchange Gemini owns Nifty Gateway.
The platform releases collections from top artists through drops. These collections are only accessible for a limited period. On the website, you can view the timer showing when the next drop will take place. Also, it is easy to navigate through the platform.
Artists get to decide the royalty fee they will take on secondary sales. Nifty takes a five percent fee plus 30 cents from each secondary sale.
Foundation is a digital art platform where the community invites artists. After joining the marketplace, invited artists can then mint and sell their NFTs. Creators receive a commission of 85 percent on primary sales and ten percent on secondary sales. Creators can also invite other creators.
The website design is minimalistic and professional. However, there is a lot of content on the homepage, which could increase the website loading time.
According to Foundation, creators have earned more than $40 million since it launched in February 2021. The famous Nyan Cat NFT sold on this marketplace for 300 ETH ($842,325).
MakersPlace is an NFT marketplace for digital creators like artists, writers, and photographers. It brings together talented creators enabling them to sell their creations.
The platform offers escrow services and the option to accept credit card payments for secondary sales. Furthermore, the marketplace releases new artwork through drops, just like Nifty Gateway. MakersPlace adds creators through invites and takes a 15 percent fee on all ETH purchases. The royalty fee is ten percent.
MakersPlace has its headquarters in San Francisco and was founded in 2018.
The listed NFT marketplaces have made NFTs easily accessible to anyone with an internet connection and an Ethereum wallet.