Top NFT Marketplaces
The craze of NFTs is growing day by day. Now with the entry of multiple Bollywood celebs like Amitabh Bachan, Salman Khan, and Sunny Leone in NFTs, the space of NFTs is expected to reach new heights in India. NFTs worth $10.7 billion dollars were sold in the 3rd quarter of 2021, making an eightfold increase from the previous quarter.
NFTs(Non-Fungible Tokens) are digital assets that represent ownership of unique assets which can be an image, music, video, or even real estate. If you are new to NFTs, check out this to this learn about them. The rest of you can go ahead and read about famous NFT marketplaces.
What are NFT Marketplaces?
NFT marketplaces are the platforms where users can buy, sell, trade, and even mint their own NFTs. They play a similar role of “Amazon” where users can visit, browse through multiple NFTs and buy or trade them.
Most of the NFTs are minted on the ethereum blockchain and it costs a lot to buy or mint NFT due to high transaction fees on Ethereum. But now, many new marketplaces are supporting other blockchains like polygon as well, lowering the transaction fee.
Must have to purchase or mint NFTs
To buy, sell or mint NFTs on these platforms you must have:
1. Crypto wallet: You should have your own crypto wallet like Metamask to store the NFTs purchased and pay for transactions & platform charges. The wallet should support the network on which you want to buy or mint NFT.
2. Cryptocurrency: You need to have some cryptocurrency to pay for NFTs purchased. As of now, no platform supports buying NFTs directly using Fiat money.
3. User account: Users can create their profile on these marketplaces and showcase their collection of NFTs on the platform as well.
Top NFT marketplaces:
1. Opensea.io: Opensea is the first and largest NFT marketplace. It supports a wide variety of NFTs representing ownership of artwork, sports collectibles, virtual worlds, trading cards, domain names and much more. It currently supports three blockchains: Ethereum, Polygon and Klaytn. It also offers a unique proposition like paying fees for only one time to mint NFTs. 2.5% of each sale will go to OpenSea.
2. Rarible: It is an NFT marketplace that is owned by the community members holding RARI tokens. Rarible currently supports Ethereum blockchain only but accepts payments in supports cryptocurrencies such as WETH, ATRI, and DAI as well. It also charges 2.5% of each sale.
3. Foundation: Foundation is the new entry in NFTs. It was launched in February and has quickly become one of the most popular NFT marketplaces for creators, with the all-time trading volume already touching almost $48 million. It also supports Ethereum blockchain only as of now.
4. SuperRare: Superrare is a marketplace that works with a handful of top concept artists. It also supports the Ethereum network only. Users can trade unique, single-edition works of digital art on this platform. It also offers a unique feature like tokenization of NFTs.
5. WazirX: WazirX is India’s first NFT marketplace that was announced in May end. It has more than 500 artists listed who are selling their NFTs. WazirX currently supports Binance smart chain but they can be transferred to Ethereum as well.
There are many other marketplaces like Nifty Gateway, Zora and many more.
What are you waiting for… Just go through these platforms and get your first NFT!!
Happy Shopping or Minting :)
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