Non-fungible token’s popularity has grown tremendously and shows no signs of slowing down as the need to digitize real-world objects to enhance ownership and distribution grows. Similarly, digitized objects continue to elicit strong interest from investors eyeing a piece of art, music, videos, and other online collectibles.
NFT Marketplaces are increasingly cropping up, providing a framework to participate in the craze. The best marketplaces come with a wide selection of assets that are not only secure but authentic. If you are looking to diversify your investment portfolio into the world of digitized objects, below are some of the best marketplaces in the business.
OpenSea
Very few NFT markets come close to what OpenSea has achieved over a short period in the business. It succeeded in building a solid reputation as the go-to platform for buying, selling, and trading digital assets. As a result, it is a solid choice for beginners looking to start in the nascent field.
While it started as a marketplace for Cryptokitties, it has evolved to play host to a vast pool of NFTs for music, videos, collectibles, and art. In addition, it boasts of an endless collection of NFTs that include fashion games and books.
The NFT marketplace comes with a user-friendly interface for beginners. You can set up an account in minutes and embark on browsing the vast pool of NFTs on offer. It also supports minting through an easy-to-use process.
While Ethereum is a preferred payment mode in the network, it also supports over 150 tokens. However, you cannot use fiat currencies such as US dollars or Euros on the platform. When it comes to fees, OpenSea charges 2.5% on every transaction. In addition, one must pay gas fees for completing transactions.
Rarible
It comes a close second to OpenSea when it comes to popularity. While charging a flat fee of 2.5% on every transaction, it’s proven to be a reliable and trustworthy marketplace for buying, selling, and trading all kinds of NFTs. Its library comprises collectibles, video game assets, music, and photos, all digitized into non-fungible tokens.
While you can buy and sell NFTs on the marketplace using Ethereum Flow and Tezos, the marketplace also accepts fiat currencies through credit cards. The marketplace is also supported by its own token dubbed RARI. Holders can vote on any proposed changes to the bazaar.
Just like OpenSea, Rarible also allows people to mint NFTs in a straightforward process. It has also teamed up with big brands such as Yum! Brands and Taco bell which has listed art on the marketplace. However, its partnership with Adobe is of great importance as it has helped secure NFT works on the platform.
Binance
After running a successful cryptocurrency exchange business that attracts millions of people daily, Binance unveiled an NFT Marketplace. As a big name in the cryptocurrency sector, Binance is also running one of the largest NFT bazaars that are highly curated.
The Binance NFT marketplace offers all kinds of NFTs found on other platforms, including artwork, gaming items, collectibles, and even photos and music. Its competitive edge in the emerging sector stems from its low transaction fees. It only charges 1% in trading fees compared to highs of 2.5% on most platforms.
In addition, Binance comes with a user-friendly interface similar to its exchange. It also offers the highest liquidity for easy buying and selling. It is becoming a hit because it allows developers and creators to receive up to 90% of the proceeds from purchases. It also does not charge fees for listing NFTs and charges a low minting fee of 0.000001 BNB.
Nifty gateway
It is the go-to platform when looking for the most expensive and exclusive NFTs. While it allows the buying and selling of NFTs, its collections is made up of exclusive NFTs that cannot be found elsewhere.
It mostly focuses on artwork from celebrities and top artists. Therefore, it is a perfect fit for investors looking for NFTs with investment potential Popular DJs and musicians have had listings on the platform valued at thousands of dollars and, in some cases, reaching millions.
It is a marketplace for people looking to invest in the emerging landscape. It has already handled a sale worth $91.8 million. Moreover, purchases on the platform can be made using fiat currency without having it make a cryptocurrency purchase first.
NBA top shot
It is a unique marketplace that is transforming the way people buy and sell great moments in Basketball. It specializes in video clips, highlights, and art of some of the most exciting moments in NBA and WNBA. Some of the collections can be priced at hundreds of thousands of dollars.
The platform allows fans to purchase tokens that represent various NBA history. It is currently rated as one of the most successful NFT collectibles, with more than $600 million in sales. Therefore any NFT purchase on the marketplace has the potential to accrue significant value down the line.
The NBA has set up NBA Top Shot as a closed marketplace leveraging the Flow blockchain; therefore, according to users, some of the lowest fees than Ethereum. Users can purchase NBA moment NFTs using credit and debit cards or select cryptocurrencies like Bitcoin and Bitcoin Cash. It has new drops regularly, therefore, providing unique investment opportunities.
Bottom line
A non-fungible token represents ownership of an asset, be it music, art, or collectible. While selecting an NFT marketplace, it is important to decide on the kind of digital asset you wish to own. Just because anything can be digitized does not mean it will be valuable down the line for it to make investment sense.
While selecting a marketplace, it is also essential to consider the tokens supported. Whereas some support a wide variety, others are closed and utilize only a specific token. It is also essential to only deal with a reputable marketplace to stay clear of fake NFTs. Security is also an essential factor to consider.
