The evolution of NFT marketplaces is driving blockchain adoption widely to the commerce mainstream. After years of speculation and studies about some valuable facts concerning NFT marketplaces, the exposure of NFT marketplaces seems to be booming this year.
In line with this, NFT price is more popular compared to Bitcoin. Aside from this, NFT marketplaces happen to occupy a large space when it comes to blockchain news headlines across the world this year.
Literally, Non-Fungible Tokens (NFTs) are the latest internet sensation. Besides, the growth of digital arts is the most exciting trend in recent times. As a result, more investors and crypto holders are increasingly looking to own and think on unique digital arts. However, in order to hold the digital arts, you need to pay a huge amount.
Can you believe that someone paid 400 ETH, which is about $1.3 million, for a picture of JPEG rock? Yes, a clipboard of a rock made a large sale of EtherRock for more than a million.
In addition, the largest payment processor Visa, jumped into the NFT craze, and recently bought a ‘CryptoPunk’ for $150,000 in ETH.
Also, the biggest NFT marketplace OpenSea has recently surpassed $1 billion in monthly trading volume.
Here, we’ll list the most popular NFT platforms or top NFT marketplaces where you can trade the NFTs. But, before we discuss the leading NFTs marketplaces, let’s quickly learn what NFTs are and how they work.
Top NFT Marketplaces
There are thousands of NFTs open across the NFT marketplaces. However, it would help if you looked at specific marketplaces for specific tokens. Since due to the different token standards, not all NFT marketplaces can promote the same tokens.
The growing demand for NFTs has led to a large number of NFT marketplaces jumping up. Below,
We have discussed the top NFT marketplaces. However, we suggest doing your own research before trying out any of the platforms.
In 2018, OpenSea started as the first decentralized NFT marketplace for selling, buying, and trading NFTs. In addition, it calls itself the most vital marketplace for digital goods.
You can trade all sorts of unique digital items on the platform. In addition, the platform hosts digital art. Likewise, there are game items, collectibles, domain names, even digital images of physical assets. Besides, OpenSea is like an eBay for NFTs organizing hundreds of assets classes.
Since its origin, OpenSea has experienced notable growth. It has over 17 thousand users now. Notably, big names recently showing interest in the space, including Mark Cuban, Gary Vaynerchuk, and Chamath Palihapitiya. Moreover, Logan Paul, a famous YouTuber, announced the launch of his first NFT on Twitter, which nets him over $3.5 million.
When you observe the decentralized web, there is no greater marketplace than OpenSea. There are over 4 million assets, 135+ dApps, and 4,000 ETH in monthly volume.
Rarible was launched back in early 2020 by Alex Salnikov and Alexei Falin in Moscow. Moreover, it is a digital NTF marketplace focusing on art assets. In addition, it operates a marketplace for users to trade various digital collectibles or NFTs.
Furthermore, the use of Rarible is to create “minting” NFTs. In fact, this is great for various content creators. They can now trade creations such as books, music albums, movies, etc., as NFTs.
Moreover, the artist might allow buyers a sneak look at the content – a preview, trailer, or piece, but publish the whole content only when a person buys the relevant NFT. Also, it has opened up unique chances for young talents and future artists. As a result, it has reached over 24 thousand users.
However, they identified scammers many times — that’s why Rarible creating a verifying method to lessen the risk of dealing with a fake project.
Linsey Lohan launched her profile on Rarible, selling her own art ‘Bitcoin Lightning’ for over $50,000. In fact, this is one of the most amazing deals. But, people trading art on Rarible make some of the 75,000 RARI tokens issued weekly to boost activity.
One of the most helpful features is that Rarible emphasizes creating an autonomous platform driven by community governance. But, perhaps most notably, Rarible is also putting all its bets on building a uniquely independent platform run through a social governance model.
It is now shifting heavily towards a Decentralized Autonomous Organization (DAO), which will put the users in charge of all the platform’s choices. To clarify, this implies Rarible’s RARI governance token is crucial.
The platform volume coming is over $9.92 million.
NiftGateway allows users to buy crypto-collectibles quickly using a credit card. In addition, the platform promotes nifty investing for some of today’s most famous crypto games and applications — including CryptoKitties and Gods Unchained.
Buying a nifty on the platform is as easy as purchasing a baseball from a store.
- Go to the marketplace.
- Pick a nifty. Enter your credit card info.
- Hit purchase.
You can also choose where to hold this nifty, whether you need to send it to your Metamask wallet or your Nifty Gateway account.
The Cock Foster Twins are the founder of Nifty Gateway. But two other twins came along and acquired it from them. Moreover, Tyler and Cameron, the Winklevoss twins who started Gemini, took their hefty lawsuit winnings from Zuckerberg.
But, their involvement turns Nifty Gateway into the center for digital art that it is today.
When it comes to art collectors, one thing they want is the “real deal” where they can earn money in return. So to give good purchase and ownership of collectibles, John Crain, Charles Crain, and Johnathan Perkins launched SuperRare back in 2017. Additionally, they are also the founder of Pixura, the firm creating the crypto collectible technology working SuperRare.
With the help of the Ethereum blockchain, users can track the entire history and the origin of the art piece. Moreover, the SuperRare platform allows artists to create a work of art and tokenize it. But, it’s not just a token; new digital art is connected with an NFT. As a result, this new Ethereum token is, thus, as unique as the art itself.
SuperRare is one of the top NFT marketplaces. More so, the platform allows the original creator of the art to collect a fee from resales, like royalty. In other words, every time the NFT is traded, the creators earn a piece of it. Moreover, since the fees are stored as a function of the smart contract codes, it ensures an automatic royalty for art long after an artist leaves the possession.
To sum up, all SuperRare deals come through Ether, so you must buy it to use the platform. In addition, users can connect to the platform using MetaMask. Currently, SuperRare has an incoming volume of over $2.93 million.
Terra Virtua Kolekt (TVK)
TVK is an immersive collectibles platform connected with Paramount Pictures, Legendary Studio, and several business leaders. It is one of the top NFT marketplaces, giving a seamless cross-platform ecosystem for artists and collectors alike.
In addition, its partnership with mainstream digital houses has raised about $2.6 million in token sales. Further, this NFT crypto project has allowed digital assets to be viewed online, via mobile app, and in 3D environments using Augmented Reality. Currently, the platform has a daily volume on platform close to $24 million.
NBA Top Shots
NBA Top Shots is an NFT marketplace platform backed by the NBA. With Top Shots, users can own pieces of action called moments. Moments are an NBA highlight created as digital collectibles and can be kept or traded forever.
Moreover, the NFT works as a digital certificate on the blockchain. Besides, it provides authenticity and ownership to the asset holder over the moment.
Notably, since its launch in January 2021, the daily trades have touched an all-time high of over $6 million on 24th January. In fact, it was started last year as a new trading conference and had a few thousand users. But, many people saw it trended on Twitter, when trading certain moments with a suitable amount.
One example is CryptoSlam, a third-party expert on tracking and monitoring marketplace transactions — which shows 83 unique trades of at least $40,000, with six moments sold at above six figures. The most costly being a Cosmic edition Series 1 LeBron James dunk went for $208,000.
Throughout the first week of February 2021, the platform touched over $49 million in trades all-time, with $46.4 million of that total coming in the past 30 days. By the third week, the marketplace recorded more than $47 million in trades in 24 hours.
A month later, over $370 million had trading hands between users on the marketplace to date. The result is a vast, highly competitive NFT marketplace of trading moments, virtual cards, and gaining exponential profits.
Today, there exists a digital pet world for gamers to thrive in the blockchain gaming space. You can’t even start to think how rich the 90s kids would be if Pokémon let them profit from their pocket monsters as NFTs.
The game is Sky Mavis’ Axie Infinity — an addictive monster collecting adventure allows you to battle, raise, and collect fantasy creatures called Axies. Likewise, players can also become land barons to farm resources, gain AXS tokens, and go for dungeon raids.
Your fully strength Axies or your cultivated land can be sold whenever you see fit, which gives Axie Infinity the all-important element of true digital item ownership.
Even though it’s still a new version, it has quickly soared to becoming the no.1 Ethereum game by monthly and weekly active users.
So far, over 25,000+ ETH ($44,435,250+) traded on the game’s in-house marketplace. Notably, the most prized Axie ever sold went for 300 ETH ($533,916+), sold a virtual asset from the game for 888.25 ETH ($1.5 million), and it regularly attracts 19,000+ monthly active on-chain users.
Indeed, the excitement is very high for the development of the NFT marketplace in the world now. In addition, lots of new platforms are available in several countries. However, the use-cases in crypto-collectibles are also changing. Likewise, the future of crypto-collectibles will depend on the ease of minting, gas fees, royalty, and security measures.
Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as informative material about NFT. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any cryptocurrencies.