The NFT Market surpassed the $40 billion mark last year. Choosing a reliable and cost-effective NFT marketplace to trade and expand your portfolio is a concern of many. If you want to get involved in the NFT section and are wondering which Marketplace is best, this space is for you.
There are several platforms based on various blockchains that enable you to mint and trade non-fungible tokens. Trading NFTs is a unique experience and with so many different marketplaces available for trading Non Fungible Tokens, determining which one is ideal for you might be tough. That is why, in today’s article, We will view each of the major NFT markets at a glance in order to help you make a decision.
Let’s get into it without further due.
Top 11 NFT Marketplaces (2022)
Here are a few of the top NFT markets available as of 2022.
Founded in 2017, OpenSea is the most popular and largest NFT marketplace. As of 2022, it supports three blockchains: ETH, $MATIC & Klatyn.
On OpenSea, you will discover almost any type of NFT. with categories such as art, sports, music, collectibles, utility, virtual worlds, and much more. Moreover, if you wish to trade a few of the most popular NFT projects, such as CryptoPunks, Decentraland, etc. OpenSea has them all accessible for you to trade.
One of OpenSea’s key benefits is its mining tool. This mining tool assists content creators and illustrators in developing their items and creating their own NFT collections.
Furthermore, OpenSea allows you to mint your own Non Fungible Token onto the Ethereum blockchain straight from their website. This enables individuals to convert their works into NFTs with the click of a button.
Pros of OpenSea
- There are no gas costs for NFT creators until a buyer makes a purchase.
- A wide variety of NFT collectibles and goods are available.
- Hundreds of payment alternatives are available. (Debit & Credit Card too)
- Available on iOS and Android OS.
- Has support of 14 types of crypto wallets
- Buyers can resell their NFTs, and the original miner can earn a good amount in royalty.
Cons of OpenSea
- When compared to other sites, such as Rarible, which provide up to 50% royalties, 10% is a low royalty.
- There is currently no support for fiat currencies such as the USD.
Rarible is a community-owned NFT marketplace and is one of the largest on Ethereum blockchain. Rarible places a greater emphasis on the social side of their business. Users can follow one another and track general user activity. Like OpenSea, Rarible also allows users to create their own ERC-721 token. Moreover, as a minter, you can add your own royalties and build your own smart contract. Sounds Great right? There is more.
Rarible also has the first-ever regulatory crypto in the NFT realm, It is referred to as $RARI. It is quite simple to earn $RARI; all you have to do is interact on the Rarible.
That’s all. This implies that if you purchase, sell, or trade NFTs on Rarible, you will receive $RARI tokens for your involvement, which will be paid out weekly.
Pros of Rarible
- As an artist, you can pick up to 50% of future income.
- Beginner friendly marketplace with clean and easy User Interface
- It is really simple to create and sell NFTs.
- Native token $RARI is used as a governance token.
Cons of Rarible
- Higher gas fees
- Customer Support is not very responsive.
NiftyGateway is an NFT marketplace that collaborates with renowned artists and businesses to create Nifties (NFT Collection). You may show off your Nifties into the metaverse, transfer them to your crypto wallet, and even transfer them into your collection.
For a buyer who is into exclusive NFTs, Nifty Gateway is a high-quality secondary market for collecting limited edition NFTs. However, because of NiftyGateway’s restrictions on the types of NFTs available, you won’t be able to view all of the hot projects such as crypto punks, bored apes, etc. as you can on OpenSea.
Overall, NiftyGateway is an excellent platform for both artists and buyers to create and trade high-quality exclusive NFT collections.
Pros of NiftyGateway
- Custodial Marketplace.
- Easy for beginners and non programming miners due to the excellent technical support.
- Users have the ability to purchase NFTs through credit/debit cards.
Cons of NiftyGateway
- No support for Crypto wallets.
- Only well-known artists are accepted. (This one is for the creators who might not have that much influence but may have very high talent)
The name of this marketplace is almost self-explanatory. SuperRare is dedicated to the creation of one-of-a-kind collectible NFT art. It positions itself as a more upscale version of Rarible. It features a more refined interface, a cleaner, more minimalist look, and is more extensively curated.
You must submit your artist profile to become a creator. On each piece of art you sell, you should expect to get 85% of the entire sale price. This is because SuperRare charges a 15% fee on all main sales. In order to be fair, creators will get a 10% royalty on any secondary sales.
For purchasers, there is a 3% transaction charge for each transaction, which must be paid by the bidder. As of payments, SuperRare currently does not take any other method of payment except ETH.
Pros of SuperRare
- Offers buying system
- The NFT are exclusive
- User interface is excellent
- Royalty fees is high
Cons of SuperRare
- The commission rate is high (15%).
- Only ETH is accepted as a payment option.
Foundation is yet another peer-to-peer marketplace on our list. It exists solely to advance the culture of digital artists, cryptocurrency, and NFT enthusiasts. Foundation makes it easier to trade NFTs by bringing disadvantaged voices to the forefront. The Foundation team is entirely responsible for determining what sort of artwork is shown on whatever platform web page. As the platform mainly focuses on Digital artwork, the team is also well-known for staging live auctions and streamlining the whole online bidding procedure for the same.
Similar to SuperRare, creators will get 85% of the selling price for an NFT. the remaining 15% is taken by Foundation. Every time an NFT is sold further, the artist will receive a royalty fee of 10 percent.
Anyone can build their own Foundation account and start collecting NFTs. The clock starts counting down from 24hrs as soon as users make their initial offer that reaches the base price of a particular NFT. If a user bids in the final 15 minutes of the countdown, the countdown stretches to extra 15 minutes.
Fun Fact: The popular Nyan Cat NFT was sold on Foundation.
Pros of Foundation
- User friendly Interface
- 10% royalty fee to artist
- Auction system available
Cons of Foundation
- Being an invite-only platform, artists must have a strong network to get admitted.
- The commission rate is high.
- The rate of gas and minting is high.
If you seek to discover and collect one-of-a-kind digital masterpieces, MakersPlace is a great place to start. This platform, like foundation and NiftyGateway connects a large number of artists and authors who want to sell their unique work to people all over the world. But, there is a key thing that differentiates MakersPLace from these platforms. Every single NFT on the platform is digitally signed and issued by the artist.
MakersPlace is designed by keeping creators in mind. Artists can specify the number of editions they wish to distribute when they post their work to MakersPlace.
Everything is handled for them on the Ethereum based blockchain, allowing them to concentrate on making work and developing relationships with their clients. Truly amazing if you ask us.
MakersPlace keeps files in a safe area that only the author and future owners will be able to access after acquisition.
Pros of MakersPlace
- Creator centric platform.
- Users can also buy NFTs via credit/debit card and Paypal
- User friendly
- Free to use
- Users can see the transactions via a graphical interface.
Cons of MakersPlace
- Despite the fact that it is free, access to MakersPlace is limited and exclusive. (invite only)
- It is inconvenient for buyers to have to pay a cost before they can withdraw or receive their purchases.
7. Larva Labs (Crypto Punks)
CryptoPunks was one of the first NFTs on the Ethereum blockchain. It’s made up of a slew of 10k pixel art figures, each with their own personality. Initially, the collectibles were free, but the only way currently is to buy them. Remember that purchasing one is an expensive proposition. The cheapest CryptoPunk is 72.89 ETH, which is around $222,379.36.
The background color of these Punk NFTs signifies different things. Punks with blue backgrounds are not for sale, and there are no active bids. The owner of the red-background punks is selling them. Finally, there is an active bid on punks with a purple backdrop.
Pros of Larva Labs
- Has more than 10k one-of-a-kind CryptoPunk avatars
- The majority of CryptoPunk figures are sold for more than a million dollars.
- Supports MetaMask
Cons of Larva Labs
- Higher gas charges
- The avatars are created by a computer, not an artist.
- Purchases cannot be made using typical payment methods.
- The Requirement for Non-Custodial crypto l Wallets Reduces User-Friendliness.
8. NBA Top Shot
The platform is owned by the NBA & Women’s NBA. It tokenizes the moments of each NBA great player and attempts to record their astounding performance into NFTs in the form of cards. Other items worn by famous sportsmen are also transformed into NFTs.
NBA Top Shot grants users rights of ownership & credibility. Since the launch of these tokens, the desire for obtaining the card tokens has increased substantially.
NBA Top Shot has been built as a private NFT platform that only allows users to trade NFTs on their site, using the Flow Blockchain from Dapper Labs.
Pros of NBA Top Shot
- Flow blockchain, which has cheaper costs than Ethereum.
- Convenient for users who do not own cryptocurrencies
- high popularity that means more resale value
- New releases are routinely released.
Cons of NBA Top Shot
- Cryptocurrency support is limited.
- The project is still in the early phases of development.
- Restricted to NBA related stuff.
9. Axie Market
The Axie market is a worldwide NFT platform for the Axie decentralized video game.
The platform boasts more than 2 mil. active users and a thriving ecosystem of third-party games and applications.
The platform allows users to make new Axies, which are charming digital creatures that look like pokemon and that you can grow and utilize in the game.
These creatures are available for trade on the Axie Marketplace or for sale on major exchanges such as UniSwap. Axies are mostly utilized for in-game combat.
With Axie Infinity’s increasing popularity, users have a very large market to trade into.
Pros of Axie Market
- Axie Infinity is accessible on both PC & mobile platforms.
- With a huge universe, you may battle, acquire, grow, and develop.
- Possibly the most successful NFT-based video game to date.
- Possibility of earning a realistic quantity of cryptocurrency
Cons of Axie Market
- For beginner players, it is rather costly.
- To play the game, you must purchase at least three Axies.
- The only acceptable payment methods are Ethereum and Axie Infinity.
Mintable is a platform where users can easily produce, purchase, and sell NFTs with ease. Anyone may simply manage their Non Fungible digital assets while also going through the market for other collectibles. One of Mintable’s key aims is to reduce friction, which means that everything is available without the need for any kind of local cryptocurrency. This means users can buy NFTs using Debit and Credit cards.
Mintable has designed its platform to be user-friendly. They guarantee that their platform is straightforward for even the most inexperienced NFT makers and collectors. It allows users to mint NFTs before paying, as well as the opportunity to buy NFTs with typical paying methods (Debit/Credit cards).
Pros of Mintable
- Everyone can use it because it is super user-friendly and does not require a lot of skill.
- NFTs can be created, purchased, and sold quickly.
- Listing requires no fee.
Cons of Mintable
- Transaction fees are expensive. This is the fee structure which is charged for every transaction made on the platform.
- 2.5% on normal NFTs
- 5% on gasless NFTs
- 10% on printable NFTs.
- There are fewer crypto wallet integrations.
If you are planning to buy NFTs then another marketplace you can consider is Crypto.com. It is a popular exchange platform for cryptocurrency and is widely used by over 10 million people. They recently launched their own NFT marketplace and they offer NFTs from different categories such as gaming, art, celebrities, sport, and more.
It is very easy to invest in NFTs on Crypto.com. You can sign up within a few minutes and start purchasing NFTs. You can either purchase an NFT instantly or you can bid on an NFT. You can directly purchase the NFT using your credit or debit card. The best part about Crypto.com is that it doesn’t charge any transaction fee on your purchase.
Pros Of Crypto.com
- You don’t have to pay any gas charges on Crypto.com.
- When you sell an NFT, you will have to pay a transaction fee of 1.99%.
- It does not ask for any transaction fee when you are purchasing an NFT.
- It also offers ETH-based NFTs, you can easily purchase an NFT using Ethereum.
- The marketplace is easy to use and you can find NFTs according to their categories as well.
Cons Of Crypto.com
- There is not much information available on Crypto.com on how to create an NFT.
- Not many payment methods are available.
Conclusion: Best NFT Marketplaces (2022)
Trading NFTs will become more popular as time goes on and we go deep into the metaverse. Don’t wait and be among those people who wish they had learned more about NFTs earlier. Choosing the appropriate marketplace to trade NFTs can help you get a high ROI.
To avoid fraud, make a sensible judgment and undertake some research before starting to invest. Choose a marketplace that satisfies your purchasing and storage requirements based on the sort of NFTs you desire and the cryptocurrency you intend to use for transactions.