If you want to be a part of the NFT craze, your best bet is to join an NFT marketplace that will allow to you buy and sell digital assets and stay up to date with all the latest happenings in the world of NFTs and crypto. Think of the marketplace as the eBay or Amazon of NFT trading. Many such marketplaces also offer helpful resources that would allow you to trade with confidence. Additionally, you can get the latest updates through their newsletters, blogs, and other online resources.
The burgeoning world of NFT trading is filled with platforms – each catering to a niche. It is important to understand the asset that you want to buy or sell, and the cryptocurrency you want to use before you become a member of one of the NFT clubs. We have rounded up the top platforms that you want to be familiar with.
What to Look for while Choosing your NFT platform?
Understanding the digital asset you want to trade and having knowledge about the cryptocurrency you would be using are the two things that need to be kept in mind.
An NFT is a token that is attached to a digital asset, such as an artwork, a tweet, or even sports memorabilia. It gives the asset non-fungibility or uniqueness. Powered by cutting-edge blockchain technology, an NFT runs on an open distributed ledger mechanism, which allows you to view the source of origin of an asset and all the preceding transactions.
There are plenty of NFT platforms across the internet, with each having a specific focus or a niche. Here are a few tips and tricks that will help you to sail through the chaotic sea of the NFT marketplace:
- Before narrowing down your list of preferred platforms, it is good practice to ask yourself what you would want to buy, sell, or create. In the world of crypto and NFTs, anything can be bought and sold. It may be a work of art (looking for an authentic Beeple, anyone?), Jack Dorsey’s tweet, or even a digitally modified picture of Paris Hilton’s chihuahua. Understanding the nature of the asset will only help you to choose your token platform better.
- Also, think of the crypto you would be trading in. Some platforms support a wide variety of tokens. Most, however, trade in specific tokens. Whether it is Bitcoin or Ether, the right crypto will help you to select the perfect platform.
Top Five NFT Marketplaces
It is the grand dame of all NFT platforms. It is the world’s first and largest NFT marketplace and deals with a variety of digital assets. You can sign up for free and browse its staggering array of digital assets spread across several categories, such as art, music, collectibles, sports, etc. Selling NFTs online here is really a cakewalk. All you need to do is to set up your wallet and link it OpenSea. Next, set up your collection and upload all the relevant digital assets to the platform. You can then list them for sale by choosing from a variety of selling options, such as auctions, fixed-price listings, and declining price listings. Don’t forget to take the help of their free resources that offer a wealth of information on digital tokens.
Larva Labs is best known for its viral CryptoPunk NFT project – a collection of 10,000 uniquely generated digital characters. No two punks are the same and each punk can only be owned by a single person. Although these punks are not necessarily of great artistic value, they are nonetheless shockingly expensive because of their limited numbers. The collection was also the first one to be created on the ETH blockchain. If you are a crypto punk enthusiast or looking to buy one, be ready to shell out a whopping USD 500 million. That was the price for which CryptoPunk 9998 was sold. If this was a real art auction, it would have easily surpassed Beeple’s USD 69-million record.
Another great NFT marketplace trading in all sorts of digital assets. Like OpenSea, it deals in various assets: art NFTs from independent artists, celebrity drops, creations from independent artists and suchlike. You can also create and sell NFT online by signing up for free. The only thing to remember is that you will be required to trade in Rarible – the platform’s own currency that is built on the Ethereum blockchain.
This platform is dedicated to digital art. When it was first launched in early 2021, it was designed as a no-frills app to showcase works by emerging digital artists. Since its launch, the platform has already sold NFTs worth USD 100 million. You would require an invitation from the Foundation community to sell your artwork. But buyers can simply start buying through their Ethereum wallet.
It is India’s first blockchain-backed NFT platform selling digital and physical art of emerging South Asian artists. It is a combination of an online gallery, an educational resource platform on art, and a marketplace selling unique NFT-backed artworks. You can browse through the hundreds of works on display filtering them on the basis of primary medium, style and price range. Each purchase comes with a certificate of authenticity duly signed by the artist and the Terrain.art team. The best part is that you can buy the artworks in USD and INR; no need to have a crypto wallet. Here’s the link to the landing page of the website.