NFTs (non-fungible tokens) are the latest internet revolution that is here to stay. People can buy NFTs as individuals or entities – they are available to all if you know where to buy them. NFTs are digital art and can be in the form of music, images, and videos. You can’t just copy and sell NFTs by screenshotting, because they are embedded in blockchain technology, which helps secure the proof of ownership.
Prominent and reputable NFT art marketplaces are secure platforms to purchase these forms of digital art, so which ones are the more reliable?
NFT Art Marketplaces You Can Trust
OpenSea takes the top spot as they are the most well-known NFT marketplace since they were the first ones on the scene and the largest. There are over 100,000 active users on the platform with access to over 15.5 million NFTs. Just imagine the staggering volume of transactions done on the daily.
It also happens to be a place where users can mint and sell their own NFTs in various forms. We appreciate the streamlined and intuitive design of the website which makes it easy for newbies and experts to navigate.
One very convincing feature of OpenSea is NFT creators will receive royalties when other users buy their products. And guess what? It’s free to join!
Rarible is similar to our top choice, and you can even add products from Rarible onto OpenSea. What sets the two platforms apart is you can only deal on Rarible using their token. Rarible is on the Ethereum blockchain, the tech that powers the ETH cryptocurrency. We will say that the platform is a bit complex, but nothing that a little time and patience can’t figure out.
SuperRare takes a basic approach to the website design, and like Rarible, it functions on the Ethereum blockchain. Another similarity it shares with Rarible is the fact that the NFTs on the platform can also be added to OpenSea. You may not see as many NFTs on SuperRare as you would on OpenSea, but as the name suggests, SuperRare deals with, well, the rare.
They work with artists directly and vet their products before posting, which ensures better quality over the rest.
Mintable gives you easy access to the NFT marketplace, and Mark Cuban is an avid supporter and backer of the platform. To deal on Mintable, you would need Ethereum tokens. You can mint, buy and sell NFTs easily on a website that’s simple to navigate.
Mintable will charge a gas commission (fees associated with Ethereum transactions) for their three product types that can end up being a pretty hefty sum, from 2.5%, 5%, and an expensive 10%.
Foundation got its start in early 2021, but although it’s a newer platform, it has sold more than 100 million dollars worth of NFTs. Artists need an invitation to the platform in order to mint and sell their NFTs. It’s not the easiest avenue if you’re a beginner, as many of the other best NFT art marketplaces have a lower threshold.
How to Choose an NFT Marketplace
What do you want to do and what kind of asset are you interested in? Do you want to buy, sell, or create NFTs? Does digital art appeal to you, or are you more interested in captured moments as we see on NBA Topshot? Make sure to check if the platform in question provides what you’re looking for.
What about the tokens the marketplace supports? Some require you to use their own tokens, like Rarible, and others function on a common cryptocurrency such as Ethereum. Can you readily sign up for the platform or is it an invite-only type membership? You may also need a crypto wallet and to do more due diligence on the security of the platform.
NFTs are the next big thing, so get in on the ground floor. NFTs aren’t just digital art, they can also be virtual land, a moment in time, or even music. Collecting NFTs can be a fun hobby or side hustle, and it can potentially be a lucrative endeavor.