Have you heard about NFT’s yet (short for non-fungible token)? Do you want a piece of this industry? Art, music, virtual worlds; they can be yours through the power of NFTs. There are lots of places to purchase NFTs, with many specialties. This can be a bit confusing, which is why we’ve outlined the top 5 NFT marketplaces.
OpenSea, the Walmart of NFT Marketplaces
These guys are one of the leaders in terms of NFT sales. With lots of different digital assets to choose from, its also free to sign up and check out their entire selection. Furthermore, artists and creators can create their own NFTs to sell. This process if known as minting. Naturally, you’d expect to pay for an NFT with crypto and OpenSea takes north of 150 different payment tokens. This is a great place to start your journey into this world.
The Axie Marketplace for Axie Infinity, the Game
There is a video game called Axie Infinity and this is the place to shop for it. Axies are mythological creatures in this game that you can buy, train and fight against other players’ Axies. When you win, you earn rewards. In the game, you can purchase Axies, land and items as NFTs. They buildAxie Infinity Tokens, also known as Axie Shards, on the Ethereum blockchain. As a result, you can purchase them or buy them on various NFT marketplaces, including Coinbase.
Larva Labs and their Famous ‘Cryptopunks’
This marketplace is well-known for the ‘CryptoPunks NFT Project.’ In 2017, some were given away, but some have sold for millions since that time. Larva Labs does other stuff too, like Autoglyphs and other projects that are Ethereum blockchain-based. Their CryptoPunks NFTs have all been sold but you can still buy and sell on other marketplaces. Their still worth watching however, because they have some interesting projects going on including ‘Meebits,’ which you can bid on from their company marketplace.
NBA Top Shot Marketplace for Exclusive NBA/WNBA fans
The NBA and WNBA were one of the first to jump into the NFT market. After all, during COVID they missed out on millions and are making even more by selling highlights, videos and art in the form of NFTs. They use the Flow Blockchain, and you can only buy and sell in Top Shot. Some collectible moments cost only a few bucks.
Rarible, Another Walmart of the NFT World
Another great marketplace, Rarible, like OpenSea, is like the Walmart of NFTs. You can trade art, collectibles, music, videos and much more, or even create your own on their platform. But unlike OpenSea, where you can use lots of different cryptos for payment, you can only use their token, called the Rarible. It is also what you receive as payment when you sell something. They have also partnered with other companies like YUM! Brands (who owns Taco Bell) and Adobe.
So What’s Next?
Don’t forget, NFTs are just ownership of something. Before you just going buying everything under the sun, decide what kind you want to buy, sell or create. Also, consider the type of token the marketplace you are looking at supports. Some, like Rarible, use their own token, whereas others, like OpenSea, allow you to use just about any crypto type you want. In any case, this NFT market is exploding and gives you the chance to make some serious money, or just collect things you like!