If you’ve decided that it’s worth buying or minting NFTs, then it’s time to look for legit places where you can do so.
Don’t just go blindly buying some “promising NFT with enormous profit potential” from a “fintech guy” on a Discord group!
There are two kinds of marketplaces for NFTs:
As the name suggests, centralized marketplaces have a central authority that typically takes care of the nitty-gritty.This covers things like copyright checks or owner authentication for the NFTs sold on its platform.
In exchange, centralized marketplaces can impose certain restrictions or tack on extra fees for transactions.
On the other hand, decentralized marketplaces have no central authority overseeing the activity. Anyone can pretty much list anything on the marketplace, even fake NFTs.
Among the many in existence, there are a few NFT marketplaces that have earned a pretty solid reputation.
OpenSea is the first and largest marketplace where you can buy and sell NFTs.
To date, there are roughly 35 million NFTs on the platform, covering a wide range of digital goods such as art pieces, game collectibles, virtual real estate, and domain names.
OpenSea is also compatible with the Ethereum, Polygon, and Klaytn blockchains.
Buyers can utilize over 150 payment tokens and buy either fixed-price NFTs or bid on items in auctions
SuperRare is another well-known peer-to-peer digital artwork marketplace.
It is still in its early stages and only accepts payments in ETH, requiring users to have a MetaMask wallet as well.
What makes SuperRare unique is that it screens artists’ profiles thoroughly and lists only those that meet its criteria.
Also, it maintains exclusivity in hosting unique or single-edition art pieces.
Rarible is also among the leading NFT marketplaces, particularly for tokenized digital collectibles.It allows users to mint, buy, and sell items from a variety of NFT categories like art, photography, music, animation, domains, metaverses, and games.
Just as in OpenSea, some NFTs on Rarible are sold at a fixed price while some are auctioned.
One advantage of using Rarible is you can earn royalties in NFTs you resell, which can create a stream of passive income.
If you’re looking to buy F-NFTs to take advantage of potential price upside without having to shell out big bucks for a whole NFT piece, marketplaces such as Fractional and Niftex are worth checking out.
Leading cryptocurrency exchanges such as Binance and Coinbase also launched their own NFT marketplaces to get a slice of the growing market.