For instance, NFT sales volumes reportedly hit an estimated $25 billion in 2021 alone, skyrocketing up from the comparatively meagre $94.9 million recorded in the preceding year. In the same vein, the size of the NFT market shot up from $340 million in 2020 to nearly $41 billion in 2021, suggesting explosive growth in the barely seven year old industry.
With an ever-increasing number of NFT projects and growing interest in the space,
more people are making enquiries into how to get started to participate, and even which marketplace to choose to get on the board.
Those already familiar with space, will doubtless agree that choosing the right NFT marketplace, especially for newbies, makes a big difference. Whether you intend to buy, sell, exchange, or mint NFT art, choosing a marketplace that suits your creative medium is essential. To this end, we have compiled an unbiased list of the top 10 NFT marketplaces on which to trade in 2022.
Top 10 NFT Marketplaces on Which to Trade Digital Arts in 2022
To complete a purchase on the Axie marketplace, players must have already acquired Axie Infinity tokens, otherwise known as Axie Shards. Doubling as the native token of the Axie ecosystem, Axie Shards are built using the ERC20 (Ethereum) token standard and can be traded beyond the Axie network. In other words, players can trade these Axie Shards, or their in-game items, on a variety of other NFT marketplaces, as well as on some cryptocurrency exchanges like Coinbase (NASDAQ:COIN) Global.
On the official NBA Top Shot site, which is powered by Dapper Labs, players can essentially buy, sell, and collect special digital NFT cards that represent influential NBA moments. These moments are minted in packs, and visitors can decide to either collect and hodl, or trade them on the marketplace for even higher gains.
The only downside of the NBA Top Shot marketplace is that it is themed specifically towards lovers of the world’s premier basketball league, and as such, it doesn’t accommodate any other sports or other mediums for NFT projects.
A welcome benefit that Mintable brings to the table is its easy to navigate user interface, which makes the platform a less overwhelming alternative for beginners compared to a lot of other marketplaces available.
CryptoPunks, which were initially offered for free until 2017, have since become some of the most expensive NFT collections in the crypto world. As such, this particular marketplace is best suited for professional traders and high-earning crypto enthusiasts.
Currently, every single CryptoPunk on the Larva Labs official website has already been purchased, however, interested investors can still bid for these highly valued pieces on a variety of third-party marketplaces.
Binance NFT boasts a large market and could potentially become the final destination for NFT fans who are able to effectively leverage the marketplace’s range of minting possibilities, as well as its EVM support. Technically, by offering support for Ethereum Virtual Machine (EVM), end-users enjoy interchain compatibility, and can host all manner of NFT items, regardless of their source.
Widely speaking, the Binance NFT marketplace provides end-users with facilities to mint, sell, purchase, bid on, collect, trade, showcase, and otherwise transact digital blockchain collectIbles, which may be represented as a non-fungible tokens linked with certain digital media and art (‘NFT Media’). The Binance off-shoot represents a great choice for anyone interested in NFT projects, regardless of their level of familiarity.
The aforementioned approach also positions the NFT platform as a high-end gallery, albeit, one that also comes with a strict clause permitting artists to mint only one of their originals, rather than several editions of a masterpiece. In this way, SuperRare is able to ensure that every piece is a rare find, further boosting the value of the items sold on the exclusive platform.
The Nifty Gateway marketplace is also known for its “open edition” approach which enables creators to mint an unlimited number of NFT editions and offer them at a base price. However, these collections are only available for a limited period of time; once the time is up, no more NFT can be issued under the edition again, thereby generating a form of rarity for those minted.
Another interesting aspect to the marketplace is that, unlike the majority of the marketplaces out there, Nifty Gateway allows users to buy, sell, and collect items using fiat currencies. Thanks to this decision, collectors are able to utilize their credit cards to execute a desired transaction, instead of having to reserve cryptocurrency in their wallets.
Due to offering support for three different blockchains, users are able to select from three different primary tokens when minting NFTs. This way, creators are able to avoid the high gas fees typically attributed to Ethereum, and choose either Tezos or Flow, both of which offer much more affordable options, with the added benefit of having a lower carbon footprint.
Finally, Rarible has its own native token ,RARI, which powers the operation of the community-centric marketplace. The ERC-20 token facilitates community activities such as content curation while also granting users veto power for participation in platform upgrade decision making.
One of the unique features of the OpenSea marketplace is that it offers support for more than 150 different payment tokens, making it one of a kind in a competitive landscape. Therefore, if you are looking to kickstart your journey in the NFT space, then you can’t go wrong with OpenSea.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
Error: Contact form not found.
You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Source: Cryptocurrency - investing.com
