In this era of cryptocurrencies, blockchains, and NFTs, NFT marketplaces have emerged as a whole new industry worth investing in. Businesspersons, stakeholders, and artists are leveraging the spiking demand for NFTs by creating their NFT marketplaces. No wonder the global sales value of NFTs surpassed $10 billion as of November, 2021 and is forecast to skyrocket even further.
The growing inclination towards investing in NFTs coupled with the availability of a wide variety of NFT marketplaces has shifted the demand-supply pattern in the crypto and NFT sectors drastically. One of the major driving factors is - that NFT marketplaces bring new opportunities for every sector - from fashion to sports. Not only do they pave new paths for the businesses operating in the relevant sectors but offer opportunities to earn revenue for every individual.
To get started with NFT buying/selling/bidding, it is crucial to choose the right NFT marketplace. What is the best NFT marketplace? Well, there are many and in this blog, we will guide you through the top NFT marketplaces in 2022, the best cheap NFTs, and more.
What is an NFT Marketplace?
An NFT marketplace is a platform where the users can mine, buy, sell, or bid NFTs of various categories. With the help of an NFT marketplace, digital collectors can easily create and sell their unique NFT tokens as per their expertise or niche. As a result, anyone visiting the NFT marketplace can buy any NFT by using their cryptocurrency wallets as well as sign up and sell their NFTs.
An NFT marketplace can be in a specific niche as well as can contain diverse categories such as arts, video games, trading cards, music, virtual fashion, and many more. Undoubtedly it provides the opportunity to earn and grow with people from different expertise, domain areas, or sectors.
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Top 7 NFT Marketplaces in 2022: A Complete List
With the availability of a myriad number of NFT marketplaces, the task to choose the right one becomes even trickier. To help you with that here’s a complete list of top 7 NFT marketplaces along with an overview of the NFT marketplaces compared.
OpenSea is the world's first and the leading NFT marketplace that provides a wide range of options to digital collectors - even JPGs and GIFs. Its extensive NFT categories include - art, domain names, music, photography, sports, trading cards, and utility, to name a few. Its extensive options of blockchains and strict security make it the top priority of many users.
Not only it offers the opportunity to buy, sell, mint or trade NFTs for artists and individuals from various fields, but also allows them to create virtual worlds where people can gather and share their digital collectibles. One can also view the NFT rankings on this NFT marketplace before making a decision to buy, mint or sell.
2. NBA Top Shot Marketplace
NBA top shot marketplace is another trending name among the NFT marketplaces and it is mainly focused on the sports sector. The NFTs displayed here are all licensed by the NBA and are limited in number.
As these NFTs are quite rare and unique and can be exclusively found in the NBA top shot marketplace, it has quite high demand among sports and NFT enthusiasts. One can have a glimpse at the trending NFTs on its homepage. However, only a limited number of digital collectibles of Top Shot Moment are available here, and the buyers require a thorough research before choosing one. Being licensed and fully focused on sports, it’s a great choice for people from the sports sector.
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Rarible, another well-known name in the NFT world, offers a lot of options to explore for its end-users such as Ethereum, Flow, Tezos, and Polygon. One of its exclusive offerings is - being a multichain marketplace, it gives the liberty to mint, buy or sell NFTs to multiple blockchains to its end-users.
One can easily check out the NFT-related activities on the website and can also choose from its easy-to-use filters like listings, purchase, sales, transfer, burns, likes, bids, and followings. To create a marketplace, one needs to select among the most popular blockchains and simply connect the cryptocurrency wallet like MetaMask, Torus, or others to it. Diversity and ease of use make Rarible a go-to option for the NFT lovers.
SuperRare is a dedicated NFT marketplace for digital arts. From artists to art lovers - it is a secure place to mint NFTs related to arts or bid and buy NFTs of your favorite artists. It offers a series of unique artworks that all are powered by custom smart contracts.
You can either start collecting the arts of your choice through a few button clicks or can sign up to mint NFTs from your own arts. SuperRare gives a lot of options when it comes to connecting your cryptocurrency wallet, such as Ledger, Infinity Wallet, RICE Wallet, and SecuX to name a few. Being fully-focused on arts and having a very simple-to-use interface, SuperRare definitely stands out from the crowd if NFT art is your niche.
5. Nifty Gateway
Nifty Gateway, a premier NFT marketplace can be a good fit for the people with different expertise on NFTs - beginners, intermediates, or experts. One of the unique features of this NFT marketplace is - it offers separate sets of curated drops and verified drops. Its collection is quite diverse and one can easily browse through the name of artists or collections to make a choice.
Nifty Gateway continuously displays the current activities such as offers, listing, sales, etc. One can also view the custom range by applying various filters like curated, verified, offers, sales, and many more. Being a dynamic NFT marketplace with a wide variety, Nifty Gateway is easy to use for any individual even without expert knowledge.
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MakersPlace is an NFT marketplace that is mainly focused on rare digital artworks. Powered by blockchain technology, this marketplace lets one easily launch a collection through three simple steps - Collect, Show Off, and Invest.
Its drops are segmented into four sections - Live, Sold, Past, and Upcoming. One can easily browse through this NFT marketplace by clicking on the relevant segments - Artworks, creators, collectors, and activity. MakersPlace’s huge rare art collection and catchy yet simple UI are what make it exclusive among the NFT marketplaces.
Mintable is quite a popular NFT marketplace where you can mint your NFT on the blockchain free. You can also shop from its range of NFT collections. Mintable offers a lot of varieties on NFTs including arts, music, videos, collectibles, sports, and utility.
One can easily find the newest NFTs and top sellers by browsing through its home page. Along with the free NFT minting solution, one can also opt for its Mintable Pro pack that offers advertising, custom stores, and VIP treatment. Mintable being a secure NFT marketplace for beginners as well as professionals, can be your choice if you are inclined toward different types of NFTs.
How to Choose the Best NFT Marketplace? Factors to Consider
Apart from the listed NFT marketplaces, you may need to choose one based on your requirements. Here’s a list of which factors to consider while choosing an NFT marketplace.
The first and foremost thing to consider while browsing through the NFT marketplaces is finding legit information about each one of them. When the marketplace got founded, what is the revenue, who are the users, whether it was on news or not etc. Also, you should have a thorough idea about the bids, minting process, owners, NFT values and more by going through their website. It will give a comparative idea on different NFT marketplaces.
Availability of Digital Wallets
Availability of digital and crypto wallet is another important factor to consider while choosing an NFT platform. Make sure that there are a lot of options or at least some of the secure crypto wallet options to choose from. Also, have an idea on how easy it is to connect your crypto wallet to it.
Security is undoubtedly the topmost priority for a majority of the end-users. Make sure that your chosen NFT marketplace has a high level of encryption, strict security against fraudulent activities or cyber threats and has enough transparency in each step - minting to sell.
For every transaction on the Ethereum blockchain, some energy is consumed and hence some fees are incurred that are called gas fees. Always go for the one offering affordable and competitive gas fees.
NFT marketplace ratings, reviews by other users, community discussions - these are some of the ways to know how reliable or authentic an NFT marketplace is. At the same time, it will give you an overview of the pros, cons, features, and solutions of an NFT marketplace.
NFTs are on trend and the availability of so many NFT marketplaces make it much easier to create or gain profit from your NFTs. While there are enough secure NFT marketplaces to choose from, you should only invest your time or resources after being confirmed about the authenticity and other important features of an NFT marketplace. Once the proper research is done, don’t delay in taking the first step, and at the same time remember your budget.
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