Biggest NFT Market Places Listed
Fans have jumped on every new NFT craze, like CryptoPunks, Bored Apes, and Loot. But, you might wonder, where are these NFTs being purchased?
By Staff
Non Fungible Tokens got their big breakthrough in 2021 as every creative and investor went gaga about them. These tokens indicate a title of ownership over digital property such as art, music, or videos—but it was the digital art scene that sparked the NFT market, with record-breaking sales like Beeple’s $69 million Christie’s auction drawing headlines around the world.
Since then, fans have jumped on every new NFT craze, spending a lot of money on games like CryptoPunks, Bored Apes, and Loot. But, you might wonder, where are these NFTs being purchased?
NFT marketplaces have sprouted up like a vibrant virtual high street, selling digital art and collectibles at every price point imaginable. Here are some of the most popular platforms.
Open Sea was the first and by far the largest peer-to-peer NFT marketplace. According to analytics platform DappRadar, it has a total trade volume of over $6.5 billion at the time of writing, allowing NFTs anything from in-game items and collectibles to artwork, music, GIFs, and more.
Connecting your MetaMask wallet is the simplest way to sign up. However, other wallets like Coinbase Wallet, Bitski, Formatic, and others are also supported.
Purchasing an NFT is a straightforward process after you’ve connected; you only need to browse through the various collections or search for something that catches your eye, then submit an offer and wait to see whether it’s approved.
It’s also simple to upload your own NFT work. Simply go to the “Create” tab, connect your wallet as a creator, and upload your NFT, complete the description, and wait for the millions to pour in.
- Axie Marketplace
The second-largest NFT marketplace is hosted by the NFT-powered video game Axie Infinity, which has a total trade volume of more than $2.1 billion on Dappradar. It only deals in Axies, which are adorable Pokémon-style digital pets that gamers can buy and sell on the Axie Marketplace.
You can also use the game’s built-in breeding mechanics to make new Axies, which you can then sell on the Marketplace. Unlike art NFTs, which are acquired just for the sake of collecting, Axie Infinity’s NFTs serve a purpose: you may use them in-game to fight monsters and other players, earning tokens that can be used to breed new species. Axie Infinity’s NFTs have proven to be so profitable that some players in the Philippines and Indonesia make a living breeding and trading them.
However, Axie Infinity is one of the most difficult NFT services to use for new users, and you’ll have to jump through a few hoops before you can even start playing the game.
You’ll need to set up a Ronin wallet, transfer ETH into Ronin, and acquire a minimum of three Axies from the Axie market in addition to an Ethereum wallet like MetaMask (which will set you back several hundred dollars). This isn’t ideal for casual passers-by, but it’s not beyond a seasoned crypto user’s capabilities.
- Crypto Punks/ Larva Labs
Crypto Punks is a series of 10,000 randomly generated characters with a pixel art aesthetic and distinct traits that was one of the first demonstrations of NFTs on the Ethereum network. While they were once available for free, the only way to obtain one today is to purchase one.
That involves going to the marketplace run by CryptoPunks founder Larva Labs, where the majority of sales are made. Buying one is expensive: the cheapest Punk now costs 94.99 ETH (about $285,000), while the most valued one sold on the marketplace (number 3100) sold for an incredible $7.58 million. That explains Larva Labs’ $1.3 billion in all-time trading volume.
To begin, simply connect your MetaMask wallet, browse the available Punks (those with red backgrounds are for sale), and place your bid.
The most difficult aspect of the procedure is persuading yourself to spend such a large sum of money, but hey, that’s on you. After all, the worth of art is in the eyes of the viewer.
NBA Top Shot is a set of digital trading cards using NBA video highlight clips, and it was one of the first NFT series to find momentum with the general public. Clips are stored in your safe, encrypted blockchain-verified wallet when you purchase a pack, where you can view them or resell them on the NBA Top Shot Marketplace.
The popularity of NBA Top Shot can be attributed to the fact that its makers, Dapper Labs, have made it simple for the average user to get started. Linking your Google account to Dapper is the simplest method to sign up for NBA Top Shot, after which you’ll be asked to input your phone number for SMS authentication.
After that, you must complete a few account creation processes, including picking your favorite team. After that, you can join a drop on fresh packs, which will put you in a virtual queue before you can grab a pack. Following another SMS verification, you can pay using an existing crypto wallet, a Flow wallet, your Dapper money, or, more conveniently, a credit card.
Rarible is a community-owned platform that offers a wide range of digital art and collectibles. It is one of the main NFT marketplaces on Ethereum. According to Dappradar, it presently has the fifth-highest all-time trading volume, with $210 million changing hands.
You can buy and sell all kinds of material, just like on OpenSea. Sellers can also make many NFTs for a single image in order to sell it multiple times.
Users who have dabbled in comparable NFT marketplaces like OpenSea will feel right at home with Rarible’s user interface, which is easy enough for relative crypto newbies to utilize.
You can log in using MetaMask, Coinbase Wallet, MyEtherWallet, or any mobile wallet that supports WalletConnect. You can use funds in your wallet to buy, or you can top up your wallet with fiat cash by bank transfer or debit card once you’ve signed up.
Whereas Rarible’s design overwhelms you with a dizzying array of flickering GIFs and live auctions, SuperRare’s UI is far more pared-back and simple.
It’s also a lot more curated, as it bills itself as a social network that promotes the development and collection of crypto art. It collaborates closely with artists, requiring work to be submitted and vetted before it can be listed; in other words, quality above quantity.
A compatible wallet, such as MetaMask or Formatic, is required to sign up for SuperRare. There is an additional step that requires you to create a username and password that is linked to your wallet address, but it just takes a few seconds, so you’ll be browsing the platform’s exclusive NFTs in no time.
KnownOrigin, like SuperRare, promises to deliver a more curated, gallery-like experience for the discerning NFT enthusiast. It’s all-time trade volume is under $6.9 million. All of its artwork files are stored on IPFS, which gives the underlying assets some protection. With a heavy focus on digital art, this is a marketplace that avoids the wackier features of the NFT universe, therefore no wacky avatars or charming monsters will be found here.
KnownOrigin is straightforward to use, at the risk of sounding like a broken record. Simply link your wallet, such as MetaMask or Formatic, and you’ll be bidding on your own desired NFT assets in no time.
- Foundation
Foundation, which bills itself as a “creative playground” for artists, currently has a total trading volume of slightly over $79 million. The NFT of popular Internet meme Nyan Cat, Edward Snowden’s debut NFT, and an audiovisual digital collectible made by producer Richard D. James, better known as Aphex Twin, have all taken place there.
Foundation’s marketplace is straightforward to use once you’ve connected your MetaMask or other software wallet with WalletConnect. You can put bids on timed auctions just like you would on a standard auction site.
MakersPlace is another niche NFT marketplace that prides itself on having a number of exclusive digital fine art collections. Although its total volume is minimal ($23.5 million at the time of writing), it contains many one-of-a-kind items that add to its exclusivity.
The site fell down in February 2021 when legendary crypto artist Beeple offered a collection of NFTs for $1 each. T-Pain, Shakira, and Tom Morello of Rage Against the Machine have all signed up for the site, which has hosted a number of NFT drops by singers.
It’s simple to become a buyer on MakersPlace, and you can even save time by logging in with your Google or Facebook accounts.
As part of the registration procedure, you’ll have to choose five artists to follow, and you’ll be able to buy their creations with either your MetaMask ETH balance or (more conveniently) your credit card. If you’re a creator, you’ll need to fill out an online form to request an invitation to join the platform, which will be reviewed by the curators.
Nifty Gateway, one of the first wave of large NFT marketplaces, has a significant supporter in the form of cryptocurrency exchange Gemini, which purchased the site in 2019. Nifty Gateway made waves during the NFT boom by brokering the sale of Beeple’s CROSSROAD for $6.6 million in February 2021, which was one of the first multimillion-dollar NFT deals. By May, the platform’s gross sales value had surpassed $300 million.
The portal hosts artists such as The Weeknd, Grimes, and Eminem, and delivers a tightly curated selection of NFT drops on a tri-weekly schedule. It also features a marketplace where you may look through curated collections, verified artists, and a larger selection of work from unconfirmed artists.
Because of Nifty Gateway’s close connection with Gemini, getting started is a reasonably simple process. To begin, you’ll need to create an account on the site (and use Stripe to authenticate your identity if you wish to sell NFTs). You’ll need to fund your account, either with a credit card or by sending ETH to a deposit address. After that, you’re ready to purchase NFTs from the marketplace.
You can also link your Gemini exchange account to your Nifty Gateway account, allowing you to make purchases and withdrawals using your Gemini exchange account balance (your Gemini account can be topped up using bank transfer, wire transfer, crypto deposits and trades).
- Bakery Swap
BakerySwap is a smaller NFT marketplace than OpenSea, but that’s not surprising given that most NFT markets are built on Ethereum, while BakerySwap was one of the first to start on Binance Smart Chain (BSC). One element of the site is the NFT marketplace, which allows users to trade and swap liquidity assets directly with one another.
The NFT marketplace is simple enough to use, requiring only a MetaMask connection. Because this platform is based on the Binance Smart Chain, NFT assets can only be acquired with BNB rather than the more commonly used ETH.
- Binance NFT MarketPlace
Binance NFT marketplace is, as you might expect, an NFT platform provided by Binance, the world’s largest crypto exchange. The company intends to create an NFT marketplace with exclusive offerings and collaborations in order to entice the exchange’s large user base to its platform.
If you already have a Binance account, you’ll be happy to know that it will operate with Binance NFT instantly. It’s as simple as bidding on any items that grab your eye after you’ve gotten in. Depending on what the producers have specified, you can use ETH, BNB, or BUSD.
The most recent NFT mini-boom occurred on Solana, a blockchain that competes with Ethereum. On marketplaces like Solanart, collections like Degenerate Ape Academy, Aurory, and SolPunks have witnessed trading volumes of hundreds of millions of dollars.
Solanart, unlike OpenSea, is a selected collection of NFT collections, with a small selection of NFTs available for purchase.
To begin purchasing Solana NFTs on Solanart, you must first download a Solana wallet, such as Phantom or Solflare, and load it with Solana from your preferred exchange. Phantom has a direct integration with the crypto exchange FTX, which makes depositing funds from that exchange a breeze.
It’s only a question of going to your preferred NFT, connecting your Solana wallet to the marketplace, and placing your bid from there.
