FxBrokerReviews.org – If you want to enter NFT trading then an NFT marketplace is your gateway. An NFT marketplace encourages the buying and selling of various digital assets like music, art, sports, trading cards, and more. The marketplace is a decentralized platform that allows you to store and sell your tokens. It also acts as a platform to hold an auction of your digital artwork and other non-fungible items that users can buy and sell.
A marketplace is built on different blockchains like Ethereum, Cardano, Solana, and more. To get access to an NFT marketplace, investors are required to own crypto wallets to carry out their transactions. NFT marketplace offers strong ownership rights, and also gives security to the asset holders.
Now, if you are wondering which is the best marketplace to trade NFTs, then we have provided the top NFT marketplaces list and categorized them according to the blockchain they are based on. Take a look below:
Top NFT marketplace list
You must be aware of the fact that since the popularity of NFTs, the trading world is flooded by marketplaces. While we can’t give you several how many NFT marketplaces are there, we can provide you with the best marketplaces you can invest in.
Ethereum Marketplace list
Take a look at the marketplaces that are based on the Ethereum blockchain and support ETH as the cryptocurrency.
1. SuperRare – top marketplace with unique NFT art
SuperRare is a high-end NFT art marketplace and serves as a suitable platform to discover new and trending artists. The NFTs in this marketplace are highly selective. SuperRare gives quality time to review the artwork before there are put for sale, and investors can feel more confident in the quality.
The marketplace charges 15% the first time an NFT is sold on the primary market and there is also a flat 3% charge for every transaction. The marketplace is based on the Ethereum blockchain and holds a unique collection of artwork including Still images, GIFs,3D artwork, and Videos
Key Specifications :
- Only selected artworks are available on the platform
- All artists are paid 10% on secondary sales
- Provides exclusive and rare minting options
2. Nifty Gateway – best crypto and NFT platform
Nifty Gateway was acquired by Gemini, a popular crypto platform in 2019. The marketplace is popular for hosting sales and has exclusive NFT artworks. The marketplace mostly includes celebrities and top artists buying and selling NFTs and therefore it comes under the top NFT marketplaces list.
Nifty Gateway is a good option if you are looking to make a large investment in NFTs. Since the platform is a division of the crypto platform, Gemini users in the UK require a Gemini account to use crypto to purchase NFTs. Gemini also allows you to store your NFTs, Creators on Nifty Gateway benefit from a percentage of secondary NFT market sales as well as open editions, allowing them to mint unlimited editions for a limited time.
Key Specifications:
- It allows the creation of artwork like music and art
- The platform charges a 5% seller fee
- Has a profile of only high-end creators and artists.
3. Binance – top NFT marketplace with low fees
Binance is a well-known platform for offering a low-cost cryptocurrency exchange, and its NFT marketplace also offers low-cost NFT creation and selling. Binance allows you to purchase NFTs with only a 1% transaction fee using the Ethereum blockchain.
The Binance NFT Marketplace has a wide range of NFTs in several categories, including, Art Sports, Entertainment, Gaming Collectables, Esports, and Mystery Box. The marketplace is a well-accessible and easy-to-navigate platform. Binance also offers a ‘Mystery Box’ feature in which users can purchase a box that has an undisclosed NFT which could be of some value.
Key Specifications:
- The marketplace has its exchange token
- NFTs are minted at a Low fee
- It has excellent security features
Cardona NFT Marketplace list
Take a look at the marketplaces that are based on the Cardona blockchain and support ADA as the cryptocurrency.
1. JPG.Store
JPG.store is the largest marketplace on the Cardona blockchain. It is suitable for beginners who want to buy and mint their own digital artwork. The marketplace is somewhat similar to Opensea and hence has a very smooth user interface. The platform allows you to keep a track of all the upcoming NFT projects and auctions and holds a great variety of collections. The platform charges a transaction fee of 2% and also gives creators royalty when they sell an NFT.
Key specifications
- The marketplace supports a variety of minting tools to create NFTs
- The NFT collection is verified and can not be forged.
- There is no third party temporarily holding money in a transaction
2. Galaxy of art
The NFT marketplace of the Cardano blockchain is inclined towards providing a secure platform to artists all over the world. It aims to bring wealth to art creators by allowing them to create various artworks like digital photos, paintings, and more. The user-friendly platform showcases all upcoming projects and helps to explore trade NFTs. the platform also supports live auctions and collections and artists.
Key specifications
- Supports live auctions
- Has a wide range of NFT collections
3. Cardahub
Cardahub is again considered to be in the top NFT marketplace. The platform is extremely user-friendly and therefore a suitable option for beginners. It also allows investors to mint and create their own NFTs and pay solely for the Cardano blockchain transaction, using ADA crypto. The marketplace is one of the few platforms that does not charge any transaction fees and only has a minimum Cardona blockchain fee for minting NFTs.
Key specifications :
- Easy to use
- Supports Nami, CCvault, Flint, and Gero Wallet
- No Marketplace fees, only Cardano blockchain transaction fees
Solana NFT Marketplace list
Take a look at the marketplaces that are based on the Solana blockchain and support cryptocurrency.
1. Magic Eden
Magic Eden is one of the best marketplaces based on the Solana blockchain. The NFT marketplace allows investors to manufacture i.e. mint, sell, and purchase NFTs. the platform does not have any listing fee, however, they charge a transaction fee of 2%.
The marketplace also encourages the creators by allowing them to specify their royalties while selling their NFTs so that they get paid as soon as a sale is made. The only drawback the marketplace holds is that they are currently only accepting a restricted number of projects,
Key specifications:
- Magic Eden supports all Solana wallets.
- Charges a transaction fee of 2%
- Allows creates to charge royalties for the minted NFTs
2. DigitalEyes
Digital Eyes is the first open NFT marketplace based on Solana. The platform allows users to make, sell, and buy NFTs from the Solana blockchain. Some of the notable collections that the marketplace holds include Aurory, Degenerate Ape Academy, Frakt, Galactic Gecko Space Garage, and more.
Along with this Digital Eyes also offers investors the to see the upcoming NFT projects and NFT drops using the Mint Calendar. The platform charges 2.5 % of each successful NFT sale as a service fee. It supports wallets like Phantom, Sollet, Solflare, Solong, Slope, and MathWallet to transfer cryptocurrency.
Key Specifications :
- Offers a wide range of popular NFT collections
- The marketplace charges a 2.5% transaction fee for each sale made
- Supports various wallets to store NFTs and crypto funds
3. Solanart
Solanart is one of the best NFT Marketplaces overall. It allows creators to easily create, sell and buy Solana-based NFTs. the marketplace charges a 3% transaction fee for every successful NFT sale, some of the popular collections available on the marketplace are Aurora, Degenerate Ape Academy, Solpunks, Galactic Gecko Space Garage, and a lot more.
To know about the upcoming NFT marketplaces click here
Factors to consider before choosing an NFT blockchain
Above we have listed some of the best marketplaces in the NFT space, based on different blockchains. However, before you select one there are certain factors that you should consider based on your requirements and preference
1. Speed of transaction
Transaction speed plays an important role to determine the success of any NFT project. Make sure the blockchain you choose to mint NFTs on can handle a large number of transactions at a time. Or else, it will affect the creation of your NFTs and lead to a delay in transfers. And in case of high traffic hours, the transaction is delayed more and more.
2. Cost of transaction
Not every NFT that is minted is going to sell at a huge price, therefore paying a high transaction cost for the same sometimes is not quite reasonable. Therefore, you need to look for a blockchain that has a reasonable transaction cost. Moreover, The average transaction cost depends on the transaction speed of the blockchain. If the network is busy, you may have to pay higher fees to ensure that validators prioritize your order. In extreme cases, it may even get rejected.
3. Smart Contracts
All NFTs on every blockchain rely on smart contracts. Smart contracts are used to set terms and conditions for transactions on a blockchain. When these terms are met, only then the transfer is processed without any third-party validator. Blockchains that have secured smart contracts are more functional for users and reliable to mint NFTs.
What are the Top blockchains in the NFT marketplace?
Ethereum
It is the most popular NFT and hosts thousands of NFT collections. Ethereum NFTs are created utilizing the ERC-721 standard, which stores the metadata of the NFT on the Ethereum blockchain. Most NFT marketplaces support Ethereum NFTs. A slight drawback of the blockchain is that it comes with gas fees when transferred.
Solana
Solana is the second largest blockchain for NFTs and hosts a lot of benefits. Firstly, it operates at far lower carbon costs than Ethereum. It also has a lower price than the native token SOL (compared to ETH), and the gas fees are also quite reasonable. It is an ideal blockchain native for beginners in the NFT marketplace.
Flow
Flow is another popular PoS blockchain designed for NFTs and decentralized gaming apps. It hosts the NBA Top Shot NFT collection. Apart from this several other sports companies have created a marketplace on the Flow blockchain, making it a popular place for sports-focused NFT creation.
Cardona
Cardona is one of the emerging blockchain technologies in the NFT market space it is a multi-asset network and the crypto for the blockchain in ADA. In Cardano, NFTs can be created without the usage of a smart contract This helps to lower the potential for NFT minting errors and bugs. With its increasing popularity, more than 56,000 NFT collections have been launched on Cardano which has resulted in the minting of millions of NFTs by investors all over the globe.
Which is the best blockchain to mint NFTs?
Most of the NFTs in the marketplace are minted on the Ethereum blockchain. It is said to be the best and most reliable to mint NFTs. the blockchain today supports more than 80,300 NFT collections including pioneering NFT projects like CryptoPunks, CryptoKitties, Bored Ape Yacht Club, and more. The only drawback of the blockchain is that the gas fees charged to mint the NFTs are slightly higher than the rest of the blockchains.
What is the most popular NFT marketplace?
Opensea is the most popular NFT marketplace among all kinds of investors. It is also among the largest NFT marketplaces active and hosts many popular NFTs, including art, music, trading cards, VR, and more. The marketplace is extremely user-friendly for beginners and one can even create NFTs on the platform. OpenSea charges 2.5% of every transaction. An investor also has to pay the gas fee for completing NFT transactions with Ethereum.
Final thoughts
With the growing popularity of NFTs, the number of marketplaces is also increasing, which is considered to be a sign of progress. But not all the upcoming NFT marketplaces need to be suitable and reliable for you. Therefore, according to forex broker reviews we have listed some of the top NFT marketplaces.
FAQ’s
Q1. How many marketplaces are there?
Ans: An investor can choose to to form the various marketplaces available based on the blockchain technology they prefer. Different marketplaces are constructed on different blockchains like Solana NFT marketplaces.
Q2. What are Cardano NFT marketplaces?
Ans: platforms that are based on the Cardano blockchain like a galaxy of stars, cardahub, and more.
