Whether you’re looking to browse the NFT market or actively participate in it, the first step is choosing which platform you’d like to use. Each one has different capabilities and perks for creators, so which one is best depends on what you’re looking for!
OpenSea was founded in 2017 and is now one of the largest NFT trading platforms in existence. This marketplace is praised for its user-friendly design and almost gas-free listings. By using Chanlist, OpenSea users are able to add additional networks (other than Ethereum) to their wallets, expanding the access of this platform. Users are also able to add items from, say, Rarible or Mintable. Another perk for creators using OpenSea is that it allows for you to set royalties and earn passive income off of your NFTs as they’re sold. Overall, this platform is a solid choice for creators, browsers, and buyers alike.
Rarible is a fairly new marketplace, founded in 2020, but has gained a considerable amount of traffic since then. After several celebrity NFTs made headlines in the news, more and more users began flocking to this platform. Like OpenSea and other leading competitors, Rarible offers a 10% royalty rate. You can also view and manage your NFT collection using OpenSea, since they are compatible in that sense. Ideally, the vision for Rarible is to become completely decentralized and autonomous, meaning that it would be completely user based. Rarible also has its own token, referred to as RARI.
Axie Infinity is different from the other platforms in that it’s a videogame that also happens to be host to the second largest NFT market in existence. It has a total trading volume of over $2 billion, with users being able to trade “Axies.” Axies are cute little creatures, comparable to Pokemon or Neopets, but they also function as digital assets! It’s possible to create new Axies by “breeding” them, which can then be traded on the market. Each Axie has value as an NFT, but they are also used for in-game battles, which can earn the user more tokens so that they can breed even more critters. The only downside to the Axie Marketplace is that the barrier to entry is fairly high, with new users needing to connect MetaMask, have ETH available in Ronen, and also purchase several Axies before they can even begin playing.
SuperRare is thought of as a more exclusive platform, meant for showcasing rare and high quality works of art. The platform is invite-only for those looking to showcase their work so that a professional level gallery can be curated. SuperRare is also conscious of their buyer to seller ratio, so they try to balance their growth in those aspects. The platform is only compatible with the Ethereum network, meaning that you’ll need to have some ETH handy in your wallet before you purchase anything. Creators are offered an 85% commission rate on the first sale of an NFT, and 10% for secondary sales. This is certainly a more niche market than others mentioned on this list, but if you’re looking for quality, SuperRare won’t disappoint!
Mintable is an NFT based platform based in Singapore that supports Ethereum and Zilliqa based creations. This platform is very user-friendly and offers categories such as digital art, collectibles, music, and in-game assets. Mintable is unique in that it offers 3 types of assets: normal, gasless, and printable items. The fees charged depend on what kind of NFT you’re putting up for sale. This platform, like many others, also offers a ten percent royalty rate to creators. Mintable is community governed, with each voter receiving an NFT that they can use to cast their vote on the future of the platform.
NiftyGateway was created in 2018 and is currently one of the top NFT marketplaces available. It is owned by Gemini, a popular crypto exchange, so it’s unique in the fact that each NFT is listed in US dollars. NFTs are called “nifties” on the site, and are made available through limited drops by each individual artist. You are able to see when the next drop will be by checking the timer on their profile. NiftyGateway allows for creators to choose their own royalty percentages, and charges a five percent fee plus 30 cents for every secondary sale. This platform has been popularized by celebrity users, such as Grimes, who has sold over $6 million worth of NFTs on NiftyGateway.
NBA Top Shot
NBA Top Shot has surged in popularity recently, becoming one of the largest platforms for NFTs. Each NFT is a digital trading card that represents an NBA moment, featuring a brief highlight clip. Users worldwide have flocked to the site in hopes of buying their favorite player’s most memorable moments. Depending on the individual clip, an NFT on this platform can range from ten dollars to several hundred thousand dollars. NBA Top Shot has also become popular thanks to its user-friendly interface and incredibly easy set-up process. All you need is a Google account, Dapper account, and crypto wallet of your choice. Although its’ more of a niche market than others on this list, NBA Top Shot is a solid and reliable market for those interested in the topic!