The involvement of individuals in the NFT space is growing rapidly. A lot of people are now creating their NFTs, while others are interested in buying or collecting NFTs.
If you are still not sure about the best NFT marketplace to buy, sell or trade your NFTs, you do not have to worry any longer.
In this article, we have provided details of the top marketplaces where you can trade your NFTs.
5 Best NFT Marketplaces You Should Know
Here is a list of the top five NFT marketplaces where you can carry out transactions involving NFTs:
1. OpenSea
OpenSea is the first and one of the largest NFT marketplaces in the world. Since its launch in 2017, it has provided a user-friendly environment for customers to buy and trade NFTs. The marketplace supports NFT from various blockchains, majorly the Ethereum blockchain; others include Klatyn, Polygon, and Solana blockchains. The platform also supports over 150 cryptocurrencies as well as a wide variety of NFT collections.
OpenSea allows users to have seamless NFT transactions. Anyone who wants to create smart contracts for any unique digital item can easily join the open sea platform.
With OpenSea, users can set their NFT collection at a fixed rate or auction it to attract bidders.
Gas fees have been a lingering issue with NFTs that mostly run on the Ethereum blockchain. For example, OpenSea charges a 2.5 % transaction fee for every transaction made on the platform; however, the developers believe that a new update will significantly lower gas fees.
2. Rarible
Rarible is an NFT marketplace focusing on buying and selling NFT arts, video game assets, and digital collectibles.
The marketplace has a 2.5% flat rate for every transaction made on the platform. You can make transactions on the platform using Ethereum, Flow, and Tezos, as well as your credit cards which show the platform supports transactions using fiat currencies.
Also, Rarible has its native token known as RARI, which allows holders to participate in the company’s decision-making process.
The platform also allows artists to show a small component of their artwork to interested buyers while reserving the entire project for the individual that will eventually purchase the NFT.
3. Binance
Binance is a leading cryptocurrency exchange platform, and it launched its own NFT marketplace in 2021. The platform supports a wide range of digital assets and other blockchains like the Ethereum blockchain. It also has a huge advantage of low gas fees as it charges only 1% for each transaction made on the platform. In addition, Binance has its blockchain and provides a friendly user interface for its customers.
4. SuperRare
SuperRare is a top-class marketplace that accepts only high-quality NFT designs. The company takes its time to review the NFT submissions before putting them out for sale.
With the SuperRare platform, customers seeking quality NFT artworks can be sure about the quality of the work.
The platform places a 15% charge on the initial sales of NFT in the primary marketplace, after which there is a 3% flat rate for every other NFT sale.
Also, transactions in the platform are carried out using only the native cryptocurrency of the Ethereum blockchain– Ether.
5. KnownOrigin
The KnownOrigin marketplace is a platform built on the Ethereum blockchain. The platform allows investors to find unique digital collectibles. All the artworks on the platform are rare and authentic. Artists on the platform can display their digital artworks to buyers that are interested in purchasing authentic and unique artworks.
Setting up a known origin account costs nothing, but sales attract gas fees. The platform takes 15% commission for primary sales and 2.5% gas fees for secondary sales
Conclusion
There are several marketplaces where individuals can buy and trade their NFTs.
However, before you choose an NFT platform, it is important to consider factors such as low transaction fees, user-friendly interface, the kinds of NFTs the platform supports, and other factors that are peculiar to you.
