NFT is a relatively new phenomenon. You may have heard about it in the news or on social media but it still remains somewhat obscure for a lot of us. Indeed, what is NFT, what makes it different from a simple cryptocurrency and how can you make money with it?
If you are looking for answers to these and many other questions, you can have a look at our article about the purchase of NFTs and understand that digital technology in detail.
Those who already know the basics about NFT are probably aware that it is quite easy to buy NFT on a digital marketplace platform. Nevertheless, once you've decided to get into NFT trading, you will find out that there is not just one marketplace to realise transactions but many of them.
As a result, to make the most of NFT and use it for the purposes you need, it is crucial to choose the right NFT marketplace from all that variety. But before we look at some of the best marketplace platforms around, let's first try to understand why there are so many of them.
A given marketplace may specialise in a particular kind of tokens
When we buy something, we often look for a particular object that may not be available in all shops. For example, if you are a rock music fan, you are likely to search for a particular CD recorded by your favourite band.
There are a lot of music shops selling CD music, but not all of them specialise in the same genres. One shop may mostly sell CDs recorded by rap artists and another one may offer a good choice of metal albums.
If you are interested in rock music, it would be more reasonable for you to visit the second shop rather than the first one.
The same applies to NFT marketplaces. Even though there is one particular marketplace, OpenSea, that offers all kinds of NFTs, you can also another more specialised platform if you want to buy or sell tokens, say, for gaming or purchase a rare piece of digital art.
In this article, you will find out what advantages some of the best NFT marketplaces offer to their users, so you can choose the most convenient one for you to invest your Ethereum into something valuable and promising.
Find versatility with OpenSea
The most versatile and also the biggest NFT marketplace platform is without any doubt OpenSea. Whether you are searching for pieces of digital art, NFT avatars or NFTs for gaming, you can find something good for you on OpenSea.
OpenSea features a user-friendly interface that makes it easy to use even for complete beginners and charges relatively low transaction fees. If you still aren't sure what kind of NFTs to invest in, OpenSea is definitely the top 1 platform for you.
What makes OpenSea especially interesting for NFT buyers and sellers is that it sticks to Ethereum's main standards. As a result, if you buy tokens that fit those standards on another platform, you can then resell them on OpenSea and the other way round. This feature makes OpenSea even more versatile and suitable for an even bigger number of users.
Finally, OpenSea can be a great marketplace not only for those looking to buy NFTs but also for artists themselves. The platform allows you to create your own NFTs pretty easily and sell all kinds of digital items, from pieces of art to tweets and avatars.
Once you've created one or several tokens on OpenSea, they will be recorded on the Ethereum blockchain and you can trade them safely on your own terms.
This is another universal marketplace to buy NFTs. Like OpenSea, it attracts artists, sports and media brands as well as gaming funs. However, it also has its own particular features.
First, though it uses the Ethereum blockchain, Rarible has its own cryptocurrency RARI. Users in possession of RARI can not only buy NFTs on the platform but also take part in its management by voting on proposals that affect the marketplace. Thus, Rarible puts stress on the importance of its community.
Second, in addition to Ethereum, Rarible allows its users to choose another blockchain for the creation of their tokens. For instance, you can choose Flow or Tezos blockchains charging smaller gas fees, which makes them more attractive for a lot of artists than Ethereum.
Finally, Rarible has partnered with Adobe and other leading brands to ensure the originality of its NFTs and the security of transactions, so its users have nothing to worry about.
To conclude, Rarible can be a good alternative to OpenSea both to trade NFTs and to create them.
If you are mainly interested in NFTs to buy and sell digital art, SuperRare is the platform for you. What makes this marketplace different from other marketplaces is that artists willing to sell their art on SuperRare need first to go through a rigorous selection. This ensures the high quality of works presented on the platform.
Users of SuperRare can be certain to find the best examples of digital art there and so, to invest their money cleverly. As for artists, they needn't worry that their creations might get lost in a multitude of worthless items.
This is one of the biggest crypto exchanges allowing people to convert their crypto into fiat money and vice versa. However, in 2021, it also launched its NFT marketplace and has become one of the most popular platforms to trade NFTs in the world.
One of the biggest advantages of the platform is that you can buy and sell your tokens not only for Ethereum but also other crypto-currencies or even receive payments by debit card.
Another feature that makes Binance one of the top NFT marketplaces is the low transaction fees imposed by the platform, set at 1%. This makes it one of the most attractive marketplaces for all kinds of users, including professional digital artists.
This is a very peculiar example of a marketplace because it is directly connected to the video game Axie Infinity. You can buy characters for the game in form of tokens and then train them, compete with other players and even sell them once their value has grown.
In addition to characters, Axie users can also buy and sell different items and features to improve their characters and become top gamers.
Axie tokens are recorded on the Ethereum blockchain, so they can be traded not only on Axie but also on other marketplaces, including OpenSea. This creates a great opportunity for experienced gamers to make some money on their passion.
NBA Top Shot Marketplace
The main difference of this platform is that it was created especially for sports fans by the NBA and its tokens cannot be sold outside of it. What you can buy on this marketplace are various types of basketball-related collectibles, from video highlights to works of art.
This platform was mainly created for sports collectors keen to keep a souvenir of their favourite games and moments. Still, it can also become a good place to earn money if some particular artwork or video clip suddenly gains popularity and a lot of users want to lay their hands on it.
This is another marketplace with a rather narrow specialisation. It has mainly become popular thanks to its CryptoPunks NFT project that saw the creation of 10,000 original digital characters.
In the beginning, those characters were distributed for free among owners of Ethereum wallets. However, as their stock was disposed of, their popularity quickly grew and a lot of people became willing to pay for them.
Nowadays, CryptoPunks are sold for exorbitant prices, with the least expensive one costing about 65 Ethereum or over $176,000.
The owners of each CryptoPunk can be checked on the official website and their pictures can be used as avatars, which is considered highly prestigious by Internet users.
Of course, if you are not a millionaire, investing in CryptoPunks right now can hardly be an option, but Larva Labs also supports other interesting projects you may want to browse through on their website. Who knows, one of them might emulate the success of CryptoPunks one day and bring in a lot of money to the initial investors.
Marketplaces for everyone
As you can see, there is a great variety of NFT marketplaces, each used for particular purposes. If you want to learn more about what you can do with NFTs, you can find plenty of information in our article on the topic.
Trading NFTs can be a great way to make money online or to promote your art. Numerous artists use this digital technology and the choice of items that can be purchased through NFTs is really large.
However, if you want to make sure investments, it's better to buy NFTs in the area you know well, so you can identify truly valuable items and objects. If you are looking for new ideas, our article on making money on NFTs will certainly help you.
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