In this article we present the top 9 best NFT marketplaces you can buy and sell NFTs as picked up by our editorial team.
Non-fungible tokens (NFTs) have reached new heights in 2021 and they are minted mostly out of Ethereum – although more and more blockchains are trying to grab a share from the rising market.
NFT’s come out of music, art, toilet paper, heck even Lionel Messi arguably the greatest footballer ever has his own NFT.
Non-fungible tokens are selling effortlessly as it may seem and it has left a number of people wondering what are NFTs? Are they even worth it?
A lot of people are of the opinion that NFTs are here to stay and would change investing forever. Some people don’t even know what NFTs are about but if you read along carefully then that is about to change.
Let’s start by answering the most important question.
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 some of the best NFT marketplaces with cryptocurrency, they generally have similar encodings and software’s like many cryptos.
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. 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.
Forget about the big names my friend Aliartist who is popular at creating 3D renders on Instagram for Apple products has some very popular 3D renders of the Apple iPhone 13 listed on NFT marketplaces.
NFTs are not for popular people alone as a creative or someone who has what people would like to buy as an NFT you can simply list it in one of the marketplaces below.
Read also: How to Check The Rarity of An NFT
What is an NFT marketplace?
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.
There are a lot of NFT marketplaces online but we have managed to fish out ten of the best NFT marketplaces that are safe and efficient for you. if you also have any other questions feel free to ask them in the comments below.
Best NFT Marketplaces
- Largest NFT Marketplace – OpenSea
- Best Community-centric NFT marketplace – Rarible
- Best NFT Marketplace for Artists – SuperRare
- Best NFT Marketplace with own OS – Foundation
- Best NFT Marketplace on EOS blockchain – AtomicHub
- Best NFT Marketplace on Binance Smart Chain – BakerySwap
- NFT Marketplaces with the rarest NFTs – KnownOrigin
- Best NFT Marketplace for Gaming Assets – Enjin
- Best NFT Auction House – Portion
OpenSea is the self-acclaimed largest NFT market place and it has been in existence since 2018. It is no doubt one of the most popular NFT marketplace available at the moment. they Main feature of OpenSea is that it gives users the option of free listing.
As an artist or creator, you can post you NFT without any commission of fees to begin with. All you need is an account on the platform and then follow all the necessary instructions.
OpenSea also has an open blockchain standard meaning you can create your NFTs somewhere and then comeback to OpenSea and sell them. the platform is easy to toggle and understand you can also filter out various categories of NFTs on the platform by searching.
You get to see the price, offers made, and the artist history and It makes more sense. They take at least 2.5% from the buyer when purchasing an NFT on the platform. It is common for the marketplace to charge a fee after purchasing an NFT.
- Beginner Friendly
- Suitable for collectors looking for different NFTs
- Free listings
- Crypto wallet needed to buy and sell on the platform
- Payments are only in cryptocurrency
This is another top rated NFT marketplace and users can easily create and mint their NFTs easily. The platform also has a governance token and it’s the first of its kind. Although it was launched in 2020 it was quick to grow because of how easy and user friendly it was.
The company is based on the Ethereum blockchain with focus on collectibles and art assets. Their token is called RARI and it is used to vote for platform upgrades and content curation. We can simply say it gives the Rarible community members an opportunity to have a say in the affairs of Rarible that’s why it was tagged “governance token”.
The token can’t be bought you simply earn it by being active as a community member on Rarible. They aim to be a Decentralized Autonomous Organization, where decision rights belong to the members of the platform. Only Ethereum can be used on the platform.
Rarible connects sellers with buyers who are ready to buy NFTs without a middleman. As a decentralized marketplace, Rarible trades happens through a smart contract and are logged on a blockchain ledger that offers security and transparency for market participants. They also charge a 2.5% fee but this time its on both ends of the transaction this totals to 5% in the end.
- User friendly
- Governance token
- Open source and non-custodial
- Accepts only Ethereum
- High transaction fees at the end
- No mobile app
SuperRare was founded in 2018 as an exclusive platform and it has grown rapidly within a short period as one of the top NFT marketplaces. It shares similarity with Rarible in terms of creator loyalty but it is difficult to get accepted on the platform.
You have to submit your work to the SuperRare team to be looked upon before you are accepted to sell on the platform. They have a taste for quality and originality which sets them apart. Most buyers prefer trading on the platform because of its exclusivity.
There is a 15% artist gallery commission fee for primary sales which is high for an NFT market place, artist get charged 10% on secondary sales. While you get charged 3% transaction fee for all purchases on the platform, paid by the buyer. The platform is secured by the platform and as an artist your NFT will not leave your wallet until it is sold. It uses Ethereum blockchain to mint and create NFTs.
- Exclusive Platform
- Easy to navigate
- High Royalty for artist
- Only works with Ethereum as means of payment
- High commission rate compared to other NFT marketplaces
Foundation is another Ethereum based NFT built network that focuses on Exclusive digital arts. It was founded in 2020 and it is based in the United States of America. The NFTs minted and sold on the platform are from top rated artists.
They have a friendly user interface and you get to see all the listed digital NFTs that are available for sell on the platform listed according to the auction ending soon. You can decide to take a look at a particular NFT by tapping on it to get more details about it and know about the artist who owns it.
They have a 15% service fee incase you purchase an NFT on the platform and they also take USD 150 from the total of 1000 USD as cover fees in addition to the actual value of an NFT.
You can pay on this platform using debit cards, and PayPal but you have to own some Ethereum before being a member of the marketplace.
- Different methods of payment
- Exclusive market place
- Friendly interface
- High commission fee
This is another great NFT marketplace where you can sell some of your arts. It is developed by Pink Network a group of blockchain enthusiasts that are active on WAX and proton blockchain.
AtomicHub is powered by the EOS blockchain and Wax Blockchain.
The platform went fully into action in 2020 and so far, the platform has claimed that over 10 million NFTs has been created on the WAX blockchain on the platform.
There are a lot of original and unique NFTs listed on the platform. The process of listing an NFT on the platform is unique and different because at the time of listing the platform requests for proof of originality including detailed description of how the artwork was created or even raw files.
This makes the platform get a lot of buyers willing to buy because they know the process is unique and trustworthy. They charge 2.0% of the total sales price as the platform commission, it is automatically deducted by the smart contract at the time of sale.
Additional fees like royalty and blockchain fee may also apply. The additional charges will be removed from the sales price instead of being added to the total cost price. WAX tokens are the only supported tokens on the platform but the portal has a functionality that will allow more tokens to be added over time.
- High quality and original NFTs
- Low commission rate
- Difficult to get NFTs listed
The platform is one of the earliest dApps to provide an NFT marketplace on the Binance Smart Chain. It is easy to access and professionals and amateurs can jump on the platform to sell their NFTs.
They have a special category on the platform called Bakery Gallery, where users can demonstrate their talents and NFTs for everyone.
They don’t just provide an avenue for artist to sell their NFTs they also provide an avenue where artist can showcase their latest works. It is a platform that brings talents together
There are a number of tokens used on the platform and it also has a lot of features unlike other platforms. They have a governance token BAKE and there are a lot of trading tools on the platform.
- Many features and methods to farm
- They are dedicated to the community to help govern the platform
- Combination of farming tools and NFT
- Trading’s might be too high for users
KnownOrigin was launched in 2018, it is owned by the crypto exchange Gemini. There are a number of cheap NFTs from unknown artist on the platform. However, most of the NFTs minted and sold on the platform are produced by top rated artists.
Know Origin has sold more than twenty thousand NFTs and they have sold from more than 1500 artists. It’s not the biggest NFT marketplace but the stats are decent.
They focus exclusively on digital arts, but there are few exclusive arts as well. The NFTs are based on Ethereum blockchain.
There is a 15% service fee on the platform which is high when compared to other NFT market places. Other fees include the Ethereum gas fees that the Ethereum network requires to process transactions.
- Easy to use platform
- Fast growing NFT marketplace
- Only accepts Ethereum as payment
- High transaction fees
Enjin is a social leading gaming platform based in Singapore and it is available in a lot of countries. Enjin Marketplace is built on Ethereum network and they also launched their own coin in 2018 called the Enjin Coin.
The NFT marketplace is powered by Enjin coin and according to them they have created 2.1 billion assets since inception.
There are a number of projects listed on the platform and they include projects with Microsoft, Binance, and CoinMarketCap. Only the Enjin Coin can be used on the platform and no other coin or Fiat currency can be used on the platform.
- One of the earliest marketplaces
- Have a large community of users
- Accept only Enjin Coin for payment
You can easily buy, sell, or invest and own art and collectibles with complete transparency on the platform. They have a global community of artist and it is decentralized.
The platform uses blockchain technology to connect buyers and sellers on the Portion marketplace. It is very easy to collect NFTs on this platform and manage them as well.
Portion Tokens are ERC-20 assets on the Ethereum blockchain and they are used as governance tokens on Portion. Portion is easy to use and it is actually one of the best NFT marketplace available.
- Easy to use
- Governance token
- Global community of artists
- Accepts only Ethereum
How to Choose the Top Non-Fungible Token Marketplace?
NFTs are currently revolutionary but it is important to pay close attention to avoid getting scammed. There are a lot of NFT marketplaces out there and some are not legitimate.
The once listed above were carefully selected and checkmated before briefly explaining about them. Before signing up or using NFT platform there are certain things that you need to check mate before choosing an NFT marketplace and they are as follows:
Blockchain – it is important to confirm the blockchain that the platform is based upon before you signup either as a seller or buyer. Most of the NFT marketplaces available are based on Ethereum blockchain. It is important you pay attention to that.
Payment methods – most of the NFT marketplaces out there accepts either Ethereum or other digital currencies. I highly advise you to checkmate payment methods before joining any NFT platform. There are relatively few NFT platforms that accept payment in Fiat currencies.
User reviews – user reviews are the most legitimate and trusted way of knowing about any NFT forum. You can use social media or platforms like Quora and Reddit to learn more about any NFT platform before you join. By using this method, you get firsthand knowledge about any platform and how it operates.