Open Sea | Pianity | Foundation | Magic Eden | SuperRare | Rarible | Theta Drop | Other Platforms | About NFTs | FAQ | Bottom Line
The best NFT marketplace overall is OpenSea because it offers a vast array of digital assets, supports multiple blockchains, has a user-friendly interface, and charges low fees of 2.5% on transactions. Other notable NFT marketplaces worth exploring are Rarible and Foundation, both of which are easy to use and support various asset categories.
After searching for the “best NFT marketplaces” online to see what the competition writes about, I couldn’t believe the BS that is available on the first page of Google.
Forbes ranks at the first place for a really bad article – that’s there simply because it is Forbes (no images, no nothing, just a block of content). The Motley Fool lists Axie Infinity as one of the best NFT marketplaces (talk about research), while DApp Radar and Alchemy just list programmatically all the NFT marketplaces there are
In general, not a single result is good enough to be in the top 10 results in my opinion.
That’s why I decided to update this article (it was originally written back in 2022) with the best NFT platforms based on each individual’s needs.
For example, if you specialize in designing gaming assets, then the best NFT platform might be different than for a digital artist.
Having said that, here are 7 of the best NFT Marketplaces to mint your assets whether you are a digital artist, you want to sell your music, your photographs, or your architectural designs.
Best NFT Marketplaces
- Best NFT Marketplace For Beginners – Open Sea
- Best Marketplace for Music NFTs – Pianity
- Best NFT Marketplace for selling photographs – Foundation
- Best NFT Marketplace for digital artists – Magic Eden
- Best NFT Marketplace for Fine Art – SuperRare
- Best NFT Marketplace for Gaming Assets / Artists – Rarible
- Best NFT Marketplace for entertainment and esports – Theta Drop
1. Open Sea: Best NFT Marketplace For Beginners
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 2.5% fee on secondary sales – 2.5% to 10% fee on primary drops | Ethereum Polygon Klaytn | 1.5 million+ | Over $20 billion since inception |
OpenSea is a popular platform for buying, selling, and creating NFTs (non-fungible tokens). It has the largest market share, controlling around 90% of the NFT market. This means that many users buy and sell NFTs on the platform, making it easier for others to do so as well.
On OpenSea, you can find various types of digital assets, including:
- Art: unique digital art pieces, such as paintings or sculptures
- Gaming items: in-game items, like characters, skins, or accessories
- Virtual real estate: digital plots of land or virtual properties
- Music: exclusive music tracks or albums
- Domain names: unique web addresses
The platform is user-friendly and offers features like customizable storefronts and support for multiple blockchains (like Ethereum, Polygon, and Klaytn). This allows creators to showcase their NFTs in a personalized way and reach a broader audience.
OpenSea also provides educational resources for those new to the NFT market. Important to note that it doesn’t require KYC (Know Your Customer) verification.
When it comes to fees, OpenSea charges a 2.5% commission on secondary sales and around 2.5% to 10% for primary drops. Sellers pay the OpenSea fee; Buyers pay item price. Keep in mind that additional Gas fees for Ethereum transactions (not collected by OpenSea) apply (if you choose to transact on the Ethereum blockchain).
2. Pianity: Best Marketplace for Music NFTs
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 3% marketplace fee on every sale – No Blockchain Gas Fees | Â Arweave | – | – |
Pianity is the best online marketplace for buying and selling music NFTs (non-fungible tokens) in my opinion.
Unlike other marketplaces like OpenSea, Pianity only focuses on music. This focus on music helps artists and fans find what they’re looking for.
The platform uses a community voting system. Fans get to vote on the music they want to be turned into NFTs. This system helps decide which music is the most popular. The artists benefit from creating music NFTs. They get to earn money from selling their music and build a fanbase.
Pianity creates limited-edition music NFTs. The scarcity of these NFTs can make them more valuable. For example, some NFTs may have special perks like access to exclusive events, meeting the artist, or getting a signed vinyl record.
An important part of Pianity is building a community around music. The platform connects fans with the artists they like. Pianity provides a way for indie artists to get noticed and sell their music.
Pianity also released NFTs for specific artists, like rapper and singer Emilio Rojas, and piano composer Olafur Arnalds, which demonstrates its interest in different music genres.
3. Foundation: Best NFT Marketplace for selling photographs
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 5% fee on both primary and secondary sales. – 0.0008 ETH minting fee for Drops and editions | – Ethereum – Base | 260,000 | 54,992 ETH |
If you are looking for an NFT marketplace to sell your photographs as NFTs, Foundation is your go to platform. This platform is specifically for digital art and photography, and it has attracted many collectors who are interested in high-quality NFT artwork.
The website is easy to use, with a minimalistic design that makes it quick to place and track bids.
To use Foundation, you need to create a profile and connect a MetaMask wallet with Ethereum. The marketplace charges a 5% fee for each sale.
There’s a curation process to ensure that only high-quality NFTs are sold on the platform. This helps build trust with art collectors who are serious about buying digital art.
Over 260,000 people have joined Foundation, and creators have earned a total of 54,992 ETH from selling their NFTs. This makes it a good platform for photographers who want to sell their work as NFTs.
4. Magic Eden: Best NFT Marketplace for digital artists
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 2% transaction fee – No fees for listing NFTs | – Solana – Bitcoin – Ethereum – Polygon | – | – |
Magic Eden is a popular and the best (imo) NFT marketplace for digital artists. It primarily operates on Solana, but recently expanded to support multiple blockchain systems, including Ethereum, Polygon, and Bitcoin.
To get started on Magic Eden, users need to connect a compatible wallet, such as Trust Wallet, with SOL tokens to cover gas fees.
Magic Eden has very low fees compared to other marketplaces. For example, the platform charges a 2% transaction fee, but there are no fees for listing NFTs, making bids, or canceling bids. Artists can also set their own royalties.
Antoher benefit of Magic Eden is its simplicity and user-friendly interface, plus No KYC is required to list or trade NFTs on Magic Eden – which makes it even easier to join and list your NFTs.
Magic Eden’s support for multiple blockchain systems provides flexibility and affordability for digital artists. For example, artists can create NFTs on Solana, which has lower gas fees compared to Ethereum.
Overall, Magic Eden’s low costs, multi-chain support, and ease of use have made it the most popular NFT marketplace, especially for Solana NFTs which have over 90% of their secondary sales volume on the platform
5. SuperRare: Best NFT Marketplace for Fine Art
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 3% marketplace fee – 15% commission on primary sales – Artist’s receive 10% royalty on secondary sales | – Ethereum | $200 million as of 2022 [1] |
SuperRare is a special kind of online marketplace that sells unique digital art. It’s like a high-end art gallery, but instead of physical paintings, it features digital artworks. The platform is very selective about the artworks it lists, reviewing each submission to ensure they meet certain quality standards.
To use SuperRare, artists and collectors need to create a digital wallet on the Ethereum blockchain, which is a way to store and manage digital assets. They also need to sign up for a SuperRare account. Once they’ve done this, they can start bidding on or buying artworks.
One thing that sets SuperRare apart from other online marketplaces is its focus on quality and exclusivity. The platform only features a limited number of artworks, and each one is carefully curated to ensure it meets certain standards.
This approach has helped SuperRare establish itself as a leading platform in the digital art world.
The average sale price of artworks on SuperRare is around $4,000. This is because the platform attracts serious collectors and established artists who are willing to pay a premium for high-quality digital art.
For example, some of the artworks featured on SuperRare include unique digital collectibles, such as one-of-a-kind digital paintings or sculptures. These artworks are verified using a special standard called ERC-721, which ensures their authenticity and ownership.
6. Rarible: Best NFT Marketplace for Gaming Assets / Artists
| Fees | Supported Blockchains | Active Users | Sales Volume |
|---|---|---|---|
| – 0% for trades with locked $RARI tokens – 0.5% for transactions over $4,000 – 1% for transactions between $2,000 and $4,000 – 2.5% for transactions between $400 and $2,000 – 5% for transactions between $100 and $400 – 7.5% for transactions below $100. – Plus, network gas fees apply | – Ethereum – Polygon | – | – $385,000 as of July 2022 [2] |
Rarible is a popular online marketplace for buying and selling NFTs and it is highly popular to people who create and collect digital gaming assets.
One of the key features of Rarible is that it supports multiple blockchains. In fact, there are so many that I can’t list them here, but, you can have a look at them here.
This means that users can choose almost any blockchain that best suits their needs for connecting with Rarible.
But why I consider Rarible to be the best for selling and buying gaming assets? For a few reasons actually:
- Partnership with Immutable X: Rarible has teamed up with Immutable X, a leading solution for faster and cheaper Ethereum transactions, to make buying and selling gaming NFTs easier. This means you can trade assets from popular blockchain games like Gods Unchained, Guild of Guardians, and Illuvium on Rarible. [3]
- Support for Multiple Blockchains: Rarible can handle NFTs from various blockchains such as Ethereum, Polygon, Solana, and Immutable X. This flexibility means it can support a wide range of gaming NFTs.
- Focus on User Engagement: Rarible is creating tools like the Rarible API to make using NFTs in games easier. These tools provide real-time updates, help create new NFTs within games, and track who owns what, making games more fun and rewarding.
- Diverse NFT Offerings: Rarible offers a huge selection of gaming assets, making it a top choice for anyone interested in gaming NFTs.
The platform also makes it easy for creators to mint new NFTs, with a feature called lazy minting. This process minimizes the financial risk for creators, as they don’t have to pay fees upfront.
Another benefit of using Rarible is that creators can set their own royalties on secondary sales.
This means that if someone buys an NFT and then sells it to someone else, the original creator will receive a percentage of the sale price. This provides a continuous revenue stream for creators, making Rarible an attractive choice for those who produce digital gaming assets.
8. Theta Drop: Best NFT Marketplace for entertainment and esports
| Fees | Supported Blockchains | Users | Sales Volume |
|---|---|---|---|
| – 10% Fee Every sale | – Theta Network | – | – |
Theta Drop is a popular platform for buying and selling NFTs related to entertainment and esports.
It runs on the Theta Network blockchain. The platform allows collectors to buy NFTs in real-time, through live drops and auctions. This means users can interact with their favorite artists, musicians, and sports teams in a more engaging way.
For example, Theta Drop has partnered with notable organizations like the National Football League (NFL) and the popular esports team, 100 Thieves. This partnership allows fans to buy unique digital collectibles, such as game highlights or exclusive behind-the-scenes content.
One of the unique features of Theta Drop is its redeemable NFTs. These special tokens can be exchanged for physical items or real-world experiences. For instance, a fan might buy an NFT that can be redeemed for a signed jersey or a meet-and-greet with their favorite athlete.
While Theta Drop offers a curated selection of high-quality NFTs, it may not be the best choice for collectors looking for a wide variety of tokens. The platform has an approval process that ensures only certain creators can mint and sell NFTs. This means that some artists or creators mightn’t be able to sell their work on the platform.
Additionally, Theta Drop charges a 10% processing fee on secondary sales. This means that if a collector buys an NFT and then sells it to someone else, they’ll have to pay a fee of 10% of the sale price.
Other Notable NFT Marketplaces
- Stargaze is an NFT marketplace built on the Cosmos blockchain that emphasizes community ownership and control, offering key features such as zero gas fees for minting and trading NFTs, live auctions for unique digital assets, interoperability with other blockchains like Ethereum via IBC, developer tools to build custom NFT functionality, and a loyalty rewards program for STARS token stakers; the platform is secured and governed by the STARS token, with KYC requirements varying based on user location to comply with regulations.
- KnownOrigin is a unique NFT marketplace that focuses exclusively on digital art (CryptoArt). Launched in 2018, it offers a curated platform where artists must apply to sell their work, ensuring high-quality listings and reducing spam. Key features include a user-friendly interface, and high creator royalties of 12.5% on secondary sales. KnownOrigin operates primarily on the Ethereum blockchain and supports ETH for transactions. While it currently does not require KYC for artists, future compliance measures may be considered due to its acquisition by eBay, which aims to expand its reach in the NFT space.
What are NFTs?
An NFT is a digital asset that represents real-world objects like arts, music, videos, clothes, and even photos. They are bought and sold online on NFT marketplaces.
An NFT marketplace is a market or platform where NFTs can be minted, stored, sold, and displayed. In a simple way, these best NFT marketplaces are like Amazon or AliExpress where you hop on to buy goods but it’s a little different here.
The method of transaction on NFT market places is based on cryptocurrencies with Ethereum being the most popular.
NFTs have been around since 2014, but they only started gaining momentum in 2021. It has increasingly become a method to buy and sell digital artworks. According to the Verge, the artwork created by Mike Beeple Winkelmann currently holds the record for the most expensive NFT ever sold and he sold it for $69.3 million in February 2021.
Twitter CEO Jack Dorsey also sold his first tweet on the microblogging platform as an NFT for $2.9 million as early as March 2021.
Read also: How to Check The Rarity of An NFT
Frequently Asked Questions
How Can I Create an NFT?
You can design it yourself – if you have the skills – or, you can buy one from freelance marketplaces like Fiverr.
How Do NFT Marketplaces Ensure Ownership and Authenticity of Digital Assets?
NFT marketplaces ensure ownership and authenticity of digital assets through blockchain technology, which provides a tamper-proof record of transactions. Each NFT is unique and can be traced back to its creator. Buyers can verify authenticity by checking the NFT’s metadata, ownership history, and the creator’s social media presence. Additionally, verification companies assess the originality of assets before minting and track ownership, enhancing trust and reducing fraud in the marketplace
Can I Buy or Sell NFTS Using Fiat Currencies on These Platforms?
Yes, you can buy or sell NFTs using fiat currencies on some of the platforms mentioned, which often integrate payment gateways to facilitate transactions; however, be aware that many marketplaces primarily operate with cryptocurrencies, requiring you to convert your fiat first.
What Are the Common NFT File Formats Accepted on These Marketplaces?
You’ll typically find NFT marketplaces accepting JPEG, PNG, GIF, and MP4 file formats, but some platforms also support HTML, 3D models, and audio files; it’s essential to check each marketplace’s specific requirements before creating or listing your NFTs.
Bottom Line
So there you have. The top NFT marketplaces catering to diverse needs.
From OpenSea’s beginner-friendly platform to specialized marketplaces like Pianity for music and Renovi.io for architects, each offers unique advantages.
By understanding your specific requirements and the strengths of each platform, you can select the best fit for your NFT endeavors.
This approach will help you navigate the vast NFT landscape and optimize your buying, selling, or creating experience.
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