NFTs are the new trend with amazing potential in every sector. over the period of years now we’ve experienced a rush in different NFT projects ranging from Crypto Punk to Bored Ape Yacht Club and we expect to see more stunning projects as time goes.
While we see investors make massive profits by investing in different NFT projects, new investors are in the tunnel waiting for the right project to invest in or even the Best NFT Marketplace where they can Buy their NFT to avoid being scammed. We’ve composed a list of 10 different NFT Marketplaces where you can buy NFT without the fear of being scammed, these platforms were diligently selected based on our research so you don’t lose money investing in the NFT project.
What are NFTs
A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. You can see our complete article on NFTs for Beginners for better comprehension.
What Are NFT Marketplaces?
NFTs are the newest crypto asset class and marketplaces make it possible to Sell them. NFT marketplaces are specific online platforms that enable users to store, create, buy, sell, and trade NFT tokens. They are basically Amazon-like marketplaces for digital-only assets.
How do NFT Marketplaces Work
Due to the digital nature of NFTs, these markets function a bit differently than with traditional assets. As indicated above, it’s vital to have set up a crypto wallet in advance, as this will be needed to hold your NFTs after purchase. Or an NFT wallet, however, some wallets handle both NFTs and crypto.
The NFT you’re interested in purchasing will need that you also hold some cryptocurrency in addition to your wallet. Most markets advertise NFTs in ETH, however, others utilize Solana (SOL), Tezos (XTZ), FLOW, or other digital currencies.
In terms of how these markets function, they provide three key services:
Buying NFTs: Investors can purchase NFTs through an auction or a fixed-price listing. Once purchased, ownership of the NFT will be transferred to the buyer.
Minting NFTs: Many NFT marketplaces allow users to mint their own NFTs. This involves turning their creation into a digital asset hosted on the blockchain.
Selling NFTs: Finally, NFT marketplaces allow sellers to list their NFTs for others to buy. Once sold, sellers will usually have to pay NFT selling platforms a portion of the received amount as a fee – although many platforms offer royalties for sales in the secondary market.
Types of NFT Marketplaces
When determining where to purchase NFT tokens, it is critical to obtain a thorough grasp of the numerous NFT markets available. The following is a summary of the major kinds, ensuring that you can select one that meets your needs:
NFT Music Marketplaces
According to a recent Forbes article, NFTs might define the future of music, with songs, albums, lyrics, and soundbites all being able to be organized as NFTs. NFT music markets specialize in this field, enabling collectors to purchase these music NFTs, which are often supplied by well-known performers.
BNB NFT Marketplaces
The popularity of the Binance Coin — the native token of the Binance cryptocurrency exchange – is leveraged via BNB NFT markets. The Binance NFT Marketplace, which enables users to purchase NFTs denominated in BNB, is the most prominent marketplace.
Solana NFT Marketplaces
The Solana NFT art markets run on the Solana blockchain, which is a speedier alternative to Ethereum. Furthermore, Solana is very scalable, which allows for cheaper network expenses. At the moment, there aren’t many important markets housed on Solana, with Solanart and SolSea being the two largest. If you wish to invest in NFTs using Solana, see our advice on how to acquire it.
Ethereum NFT Marketplaces
These markets are based on the Ethereum blockchain and provide digital assets in the form of ETH. OpenSea, the biggest Ethereum marketplace at the moment, was recently projected to be worth a whopping $13.3 billion.
Tezos NFT Marketplaces
Tezos is an open-source blockchain that runs on its own coin, XTZ. Tezos NFT markets have grown in popularity in the last year, with prominent marketplaces like Rarible now selling Tezos-based NFTs.
Algorand NFT Marketplaces
Algorand is another blockchain network that has lately dived into NFTs, with many Algorand NFT markets popping up. Because Algorand is a pure proof-of-stake (PPoS) blockchain, the whole investment process is thought to be more environmentally friendly and scalable than the present Ethereum framework.
10 Best NFT Marketplaces for Beginners
Now that we’ve defined NFT markets, let’s look at the top ten NFT marketplaces for beginners.
1. OpenSea – Biggest NFT Marketplace
Since its inception, OpenSea has attracted over one million users and was the first platform to introduce NFT trading into the mainstream. The marketplace is based on the Ethereum blockchain and provides a variety of NFT categories, including art, domain names, in-game objects, and more.
In terms of NFT sales, OpenSea is the market leader. OpenSea’s platform hosts a wide range of digital materials, and it’s completely free to join up and peruse the broad offers. It also helps artists and makers and includes a simple approach for creating your own NFT (known as “minting”).
2. Rarible – NFT Marketplace on Eth
Rarible is one of the greatest NFT art markets for investors since it offers a diverse range of digital art, photography, games, music, domains, and even metaverse objects. The site charges both buyers and sellers a 2.5 percent fee, placing it on the upper end of the pricing range. Rarible, on the other hand, has multi-chain compatibility and can host NFTs developed on Ethereum, Flow, and Tezos.
Rarible enables you to create an NFT portfolio of collections that you admire or invest in art that you believe has a future. The majority of the NFTs now available on Rarible are art-focused, although there are a few exceptions.
3. Binance – Low-Fee NFT Trading Platform
The Binance marketplace’s design is simple to use, and it offers NFTs in categories including art, sports, entertainment, gaming, collectibles, and more. According to CoinMarketCap, this marketplace is administered by Binance, the world’s biggest cryptocurrency exchange. Binance takes itself in having cheap costs, and this extends to the NFT marketplace, where customers may acquire NFTs for as little as 1% transaction charge.
Furthermore, the Binance NFT Marketplace provides NFTs on both the Binance Smart Chain and the Ethereum blockchain, assuring a wide range of tradeable assets. Binance also features an appealing ‘Mystery Box’ function, where users may buy a box and get a random NFT that might be quite valuable. The best part is that if you already have a Binance account, you may use the same credentials to access the NFT marketplace.
4. Crypto.com – Overall Best NFT Marketplace
Crypto.com is the official sponsor of the FIFA World Cup Qatar and is currently one of the most popular cryptocurrency exchanges. Aside from its popular crypto-trading services, Crypto.com has recently launched its own NFT marketplace. The marketplace was established in 2021 and offers NFTs from categories such as art, celebrities, gaming, sport, music, and crypto.
Users may set up for a Crypto.com NFT account in minutes, aiming to simplify the whole investment process. NFTs may be purchased by auction or at a predetermined price, and users can pay with a credit or debit card. Alternatively, NFTs may be purchased using cryptocurrency through the ‘Crypto.com Pay gateway. The most tempting aspect of the buying procedure is that there is no transaction cost when purchasing an NFT with Crypto.com, which is unlike many other sites. With Crypto.com, you may also discover some of the most costly NFTs on the market.
5. NBA Top Shot Marketplace
NBA Top Shot is the National Basketball Association and Women’s National Basketball Association’s foray into the NFT world. On its marketplace, collectible moments (video clips and play highlights) and art can be purchased from the world’s premier basketball leagues.
The NBA built it as a closed marketplace (you can only buy and sell on Top Shot) using the Flow blockchain built by Dapper Labs. It’s easy to sign up and buy directly on the Top Shot marketplace website. Collectible moments can be purchased for as little as a few dollars.
6. NFT LaunchPad – Overall Best NFT Marketplace
NFT LaunchPad is an innovative new digital asset marketplace that began in February 2022 but has already gained investor attention. The marketplace supports NFTs generated on the Binance Smart Chain (BSC) and Polygon blockchains, guaranteeing a diverse selection of assets.
The assets of NFT LaunchPad are denominated in Wrapped BNB (WBNB), one of the most popular cryptocurrencies. The marketplace is accessible through a web browser and includes an intuitive layout with distinct areas for purchasing and minting NFTs. For those interested in the former, NFT LaunchPad has collections from a variety of leading designers — including the wildly popular Lucky Block NFTs.
The purchasing procedure is really simple since NFT LaunchPad offers digital assets for sale through classic auction, decreasing auction, or fixed pricing. Users may quickly and easily link their MetaMask wallet to the platform while maintaining total control over their private keys.
7. SuperRare – Best NFT Marketplace
SuperRare is similar to Rarible in that they concentrate mostly on art, but they provide a higher quality of NFTs. It’s a marketplace for more serious artists, and the site’s founders select their collections extensively. To get started with SuperRare, just link your wallet through MetaMask, Fortmatic, or WalletConnect.
SuperRare just launched its own Ethereum-based coin of the same name. Tokens will be used to scout for and curate fresh talent for the marketplace. SuperRare NFTs, like Rarible NFTs, may be purchased and traded on OpenSea.
8. Nifty Gateway – Best NFT Platform for Rare Drops
Nifty Gateway has assisted in the sale of some of the most successful digital artists, including Beeple and singer/songwriter Grimes. It is a platform for curating art that is backed by the cryptocurrency exchange Gemini (controlled by the Winklevoss twins). The NFTs sometimes referred to as Nifties, are based on Ethereum.
If you live in the United States, you may purchase NFTs with a credit or debit card. However, if you are located outside of the United States, you must utilize the cryptocurrency saved in your Gemini account. Finally, Nifty Gateway charges the seller of each NFT a 5% fee in addition to a $0.30 transaction fee.
9. WAX – Popular NFT Marketplace
WAX is a 2017 blockchain network that aims to increase the efficiency of e-commerce transactions. The network is compatible with EOS and harnesses the blockchain’s capabilities to compete with Ethereum, with the goal of becoming the market leader in the field. The WAX NFT platform is dubbed ‘SimpleMarket’ and now supports the trading of over 140,000 digital assets.
The overwhelming majority of WAX non-fungible tokens are denominated in WAX, the network’s native currency. However, there is a thriving secondary market for WAX NFTs on AtomicHub, which promises to provide no-fee exchange services. Numerous high-profile businesses, like Atari and Sony, have already utilized the WAX blockchain to mint their NFTs, lending the platform a substantial amount of legitimacy. Finally, the cost structure for initial NFT releases is very opaque, but WAX does charge a 2% transaction fee on the secondary market.
10. SolSea – Best Solana NFT Marketplace
SolSea is the first open NFT marketplace on Solana with integrated minting. It introduces NFTs with embedded licenses (NFT-PROs), calculates Rarity Rank for collections, supports wallet funding with FTX-Pay and Moonpay, and is regularly updated with new features.
We’re certain that you’ve absorbed all of the information presented so far. Although the choice is ultimately yours, having a solid understanding of the NFT market helps make the process a little less difficult. Using the information provided in this introductory tutorial, you’ll be on your way to creating your own NFTs in no time.