Non-fungible tokens (NFTs) have received a great deal of attention due to their recent popularity and they have attracted the attention of audiences in the world of cryptocurrencies. The NFT marketplace is your gateway to the great world of NFTs and you can buy and sell these digital assets on these platforms. These large markets have their facilities and features. In the following, we will review the features and facilities of these NFT marketplaces. But first, we need to know what NFT is?
NFT
Non-fungible tokens (NFTs) are unique encrypted tokens that have only one copy. NFTs can be in the form of digital collections, digital artwork, music, art, video, tweets, popular posts, etc. that are created on a blockchain. For example, someone who buys an NFT digital artwork is actually the real owner of the NFT. Also, there is only one version of that NFT and no other NFT can be found with the same specifications.
NFT marketplaces
Note: Before creating an account in an NFT marketplace, you should pay attention to its security and its rules. You should also consider what types of tokens are supported in the market. Also, create your cryptocurrency wallet before entering these marketplaces.
OpenSea
Definitely, our first choice will be OpenSea. This original peer-to-peer NFT marketplace is the leading NFT sales and supports a wide range of digital assets. A wide range of NFTs including artwork, music, collections, game items, etc is available on this platform. It also creates a very easy process for developers who want to create their own NFT (minting). Over 150 other payment tokens are also supported in OpenSea.
Advantages
- A large variety of NFT collectibles
- Excellent security
- Low fees
- Strong reputation
Disadvantages
- Limited customer support
- Only supports Payments with cryptocurrencies
- It is necessary to have an encryption wallet on this platform when buying and selling
Axie Marketplace
Axie Marketplace is an online store of Axie Infinity video games, which we have reviewed in this post. Axies are mythical and animated creatures that exist in the game environment and they can be bought and sold or even trained. These creatures can also lay eggs and new Axies are created with unique features. Also, in Axie Marketplace, players can buy and sell items, land, Axies, and more. These tokens are created on the Ethereum blockchain and to operate in this market, your wallet must support Ethereum. In some countries, such as the Philippines, some people have left their jobs because of this game and by playing and training their own Axies, they have made a decent income.
CryptoPunks / Larva Labs
CryptoPunks is a collection of 10,000 characters that are uniquely created in pixels. Also, this is one of the first NFT projects to be developed on the Ethereum network. CryptoPunks were first donated for free in early 2017 But over time, some of these CryptoPunks have sold for millions of dollars and today, buying and selling them is the only way to get these valuable and beautiful NFTs. These trades have increased the trading volume of Larva Labs over time.
Advantages of CryptoPunks
- High security and no theft due to the use of the Ethereum network
- 10,000 unique CryptoPunk characters are limited and valuable
- No commission fee
- Compatible with MetaMask wallet
Disadvantages of CryptoPunks
- Using Ethereum network (high fees)
- Payment methods such as credit cards and PayPal are not supported
NBA Top Shot Marketplace
NBA Top Shot is a collection of digital trading cards in the form of video clips and highlights of NBA Premier League games around the world. When you purchase a pack as a buyer, those clips are stored in your wallet and verified in the blockchain, and it is owned by you. Also, you can sell these collectible moments at a higher price in the NBA Top Shot Marketplace and trade it. You can easily sign up in the NBA Top Shot by having a Flow wallet and connecting your Google Account to your Dapper account.
Advantages
- Using Flow blockchain (lower fees)
- Support for multiple payment methods
Disadvantages
- Users must be verified
- Top Shot NFTs can only be traded in the official Marketplace
Rarible
If you are looking for a marketplace similar to OpenSea, Rarible could be a good choice. Also, this platform is built on the Ethereum blockchain platform and belongs to the community. In Rarible you can buy and sell all kinds of NFTs such as art, music, videos, and other collections. With the easy user interface provided by this platform, you can easily start your own business using cryptographic wallets such as MetaMask.
Advantages
- Change the price of NFTs created for free
- The process of creating and selling an NFT is easy
- Various payment methods such as debit card, Google Pay, ETH wallet, credit card
- Protecting the works of artists
- There are several ways to connect with the Rarible community
Disadvantages
- You must use an encryption wallet
- High commission
Foundation
The Foundation introduces itself to artists as a “creative playground.” Many NFTs have been sold on the platform using Ethereum since early 2021. This vast art market can make Foundation a good place for NFT buyers. After connecting your wallet to this market, the other steps are very simple and you can place your bids. But if you are looking for an easy way to set up an NFT, this platform is probably not for you.
Binance NFT marketplace
Binance NFT marketplace belongs to the largest exchange in the world, Binance. The platform has attracted a large audience by creating an NFT marketplace and Binance exchange interaction with the Binance NFT marketplace. Also, if you have already created an account at Binance Exchange, your account will be automatically enabled in the Binance NFT marketplace.
Other Marketplaces
There are other marketplaces on the list that also have their own characteristics. These features include different payment methods, security, facilities, etc. The following is a list of some of these Marketplaces:
Conclusion
To sum up, NFT marketplaces are a great way to start investing in NFTs. Also, NFTs are expanding into the digital world, and there is likely to be a good future for NFTs. Meanwhile, the profitability of NFTs has led many people to leave their jobs and buy and sell NFTs.