NFT market boom

Non-fungible tokens will explode in 2021 and the number of websites that support transactions increased on a much larger scale. These platforms are called marketplaces and as mentioned earlier, they allow users to mint, list, buy and sell crypto art and digital collectibles.

Like decentralized exchanges () and peer-to-peer trading platforms, most of which do not directly hold NFTs for users. Instead, they act as a link between buyers and sellers.

While some NFT trading platforms focus on specific niches, such as sports, digital art, etc., others take over every type of NFT in the market, thus attracting a large number of people. view much larger.

Follow report of Chainalysis, in 2021 alone, NFT markets saw a massive inflow of over $40 billion worth of assets traded across various platforms.

The industry has also attracted the attention of a number of A-list celebrities, sports stars and veteran investors, such as Shawn Mendes, Melania Trump, Paris Hilton, Tom Brady, , Justin Bieber, John Legend,…

Top 10 NFT Markets in 2022

While much of the existing NFT market in the industry is built on , the platforms mentioned in this section are built on the is different.

OpenSea

Hitherto, OpenSea is the largest NFT market in the world by trading volume. The platform allows users to mint, buy, and sell a variety of non-fungible tokens, including collectibles, digital artwork, virtual worlds, trading cards, and more.

Platform is built on , but now integrated with to reduce gas charges. Through , users can access over 700 NFT projects with over 80 million NFTs available for trading.

The NFT marketplace allows users to mint and set up seller profiles for free on their infrastructure. However, the platform charges 2.5% for each sale made in the market.

At the time of writing, the most popular NFTs by trading volume on are Bored Apes, CryptoPunks and Doodles.

OpenSea now has more than 600,000 users and the market records total sales of $4.1 billion in 2022 alone, according to data from Dune Analytics.

SuperRare

SuperRare is a NFT based marketplace Ethereum, works with a select number of reputable and well-known NFT artists. It is an exclusive digital art pioneering platform with the intention of preserving the culture of digital art collection.

The marketplace has a rigorous testing and approval process before digital artwork is listed for sale. SuperRare aims to stimulate the creativity of the few reputable creators on its platform to ensure digital art collectors get the most out of their collection.

While SuperRare isn't as vibrant as OpenSea, the marketplace has very exclusive digital art pieces. The platform charges artists 15% on top of their core sales.

Rarible

Rarible is a community-owned decentralized NFT marketplace that provides users with access to a wide variety of NFTs to buy and sell. The platform has a user-friendly interface that allows them to easily mint and trade NFTs.

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Rarible supports three different blockchain networks: Ethereum, and . With such multi-chain support, users are allowed to create, buy, and sell NFTs from any of those three blockchain networks on Rarible.

Just like OpenSea, Rarible charges a transaction fee of 2.5%. However, they promote decentralization by introducing a governance system that gives community members voting rights through the internal token RARI.

The marketplace has processed more than $270 million worth of NFT transactions, with a total user base of over 1.6 million.

Axie Infinity Marketplace

In addition to being a popular blockchain game, It is also one of the most popular gaming-focused NFT marketplaces. However, while the former marketplaces are for collectibles, the Axie marketplace is dedicated to video games play-to-earn, which allows users to create, buy, and sell Axies and other in-game digital collectibles.

NFT Market built on blockchain layer 2 Ronin – is on the Ethereum network.

The platform has a large fan base of gaming and crypto enthusiasts, with daily active users surpassing the 2 million mark. The intuitive and user-friendly interface of Axie Infinity formed the basis of this game world.

One of the most expensive NFTs sold on Axie Infinity to date is a virtual estate, which sold for a whopping $2.3 million.

Nifty Gateway

Nifty Gateway, commonly known as the NFT marketplace for the elite, is managed by the Gemini exchange run by the Winklevoss twins. This Ethereum-based platform allows users to buy, sell, and mint proprietary cryptocurrency artwork.

The popular market sells artwork by some of the world's most famous artists, including Grimes and Beeple. As one of the priciest deals, Beeple's NFT Crossroad sold for $6.6 million last year on this market.

Nifty Gateway has a policy of promoting creativity and authenticity. Accordingly, this policy prompts the company to implement some of the most rigorous verification processes for artists. Only verified creators are allowed to mint and list NFTs on the market, minimizing any risk of fraud. The platform charges a commission of 15% on NFT sales.

Solanart

Solanart is the official NFT marketplace built on the net . The platform allows users to create, buy and sell a number of NFTs based on .

The platform has NFT collections from several projects like Degenerate Ape Academy, Solpunks, etc. They charge 3% transaction fee for each NFT sale.

Solanart also supports a number of digital wallets such as Solflare, Phantom, Clover, Sollet, Slope, Ledger...

Follow data from DappRader, the market has a total trading volume of over $500 million despite being a relatively new NFT market.

Binance NFT Marketplace

Built on the net  Chain (formerly Binance Smart Chain), NFT Marketplace is an NFT platform that allows users to buy and sell all forms of collectibles and digital artwork.

The platform is the leading exchange The launch aims to unite artists, creators, crypto enthusiasts and provide an opportunity for collectors to create and trade NFTs.

Binance NFT Marketplace currently has over 2.5 million NFTs to trade. Interestingly, the market charges the lowest transaction fees in the industry, at 1% for all NFT sales. This is one of the advantages of the market being owned by the largest exchange in the world.

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Additionally, the marketplace offers a number of premium and exclusive NFTs by top artists and influential brands, with mystery box offerings featuring rare NFTs.

NBA Top Shot

NBA Top Shot is an NFT marketplace that allows NBA gamers and fans around the globe to collect, store, and trade digital cards that represent short featured basketball videos, known as “moments.” .

These limited edition tokens feature videos and stats depicting a rare moment, users can unlock extremely rare tokens by completing specific token sets representing relevant moments.

Market built on blockchain and has seen some insane sales since its inception in early 2019. Several NBA Top Shot moments have sold for hundreds of thousands of dollars. During each NFT transaction, the platform charges a 5% transaction fee.

The top 3 NBA Top Shot tokens on the platform are Lebron James highlights, which sold for $230,023, $210,000, and $208,000, respectively.

Decentraland

Launched in 2020, Decentraland is a play-to-earn virtual world NFT platform built on the Ethereum blockchain. The platform allows NFT artists and creators to have full rights to their works.

Users have access to a wide range of digital collections on Decentraland, including land, in-game apparel, and real estate. Original Token of the platform used to purchase all these assets.

The platform has recorded some huge NFT revenue. For example, a virtual parcel of land on Decentraland was sold for $2.4 million in November 2021.

Stashh

If you love privacy, you will love this NFT marketplace. Stashh is proud to be the first marketplace for NFT Secret, meaning you can mint, buy and sell private NFTs by default on the platform.

Stashh allows NFT creators to monetize their content and protect intellectual property rights while providing collectors and users with trustless control over how they buy, sell, use and display digital collections.

This is possible because Stashh is supported by Secret Network, a blockchain network privacy focus built with SDKs.

The marketplace supports various NFT Secret categories ranging from games, art to sports and NSFW. At the time of writing, some of the most popular collections by trading volume on the platform are Annons, MetaRats, and Redacted Club.

Stashh charges a fee of 2,75% on the sale price, which is automatically deducted after the sale is completed.

Besides that, there is another emerging platform that recently airdropped their own governance token to OpenSea users: LooksRare (LOOKS). This strategy is said to be a vampire attack on OpenSea, like aimed at users in 2020. While LooksRare is one of the popular platforms, it is important to note that many reports state that the majority of volume is due to wash trading efforts to increase the rewards users receive for staking. LOOKS.

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Things to consider before choosing the NFT market

Trading volume

Being able to list NFT for sale on the market is not enough if no one buys it. Before choosing a platform for NFT trading, sellers need to verify that the market has enough trading volume for the collectibles they intend to sell. This makes it easy to sell the NFT to another trader.

Security

Security is a top priority for crypto investors. As the NFT space gets bigger, hackers and scammers alike find more ways to hunt down gullible victims.

So, when choosing an NFT marketplace, it's important to consider the security measures the platform puts in place to protect users. In the case of , can the NFT marketplace compensate users for damages, like OpenSea did.

Commission

Another important factor to consider before choosing an NFT market is the commission fee.

Most of the NFT trading sites on the market today charge a transaction fee of 2.5-15% for each NFT sale. So check how the platform charges before making your choice.

Transaction fee

Before NFTs can be bought or sold successfully, transactions must be processed on the blockchain, and this process also requires network (gas) fees.

Some blockchain networks, like Ethereum, have exorbitant gas fees of up to $100 per transaction.

Considering this before choosing the NFT market will help traders maximize profits and not have to spend it all on transaction fees.

Traded NFT Collection

The NFT market has grown so strongly in the past few years that it is impossible to count the number of NFT portfolios. While the market is still dominated by digital art, in-game assets, music, cards/sports moves, there are countless other types of NFTs. However, not all NFT markets support every category, and some NFTs are specific to a particular platform.

Utilities: What kind of NFT are you getting?

While certain NFTs are created by reputable and recognized artists, technology companies, and organizations, others can be created by anyone. Therefore, the choice of NFT market also depends on the type of NFT collection you want to acquire.

Some markets are exclusively for elite and high-end NFTs from vetted creators, while others allow anyone to mint and sell their work.

Supported networks

It is also important to note that transactions in every NFT market would not be complete without the blockchain.

Most of the NFT platforms are based on Ethereum, but some are built on other networks like , Solana, BSC and Cosmo.

Additionally, some NFT marketplaces offer cross-chain support to allow users to trade their tokenized assets on supported networks.

Conclude

You cannot invest in non-fungible tokens without going through the NFT trading platform. The NFT markets listed above are some of the best today. Besides, with the speed of industry development, more platforms will be introduced in the future.

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