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Top 10 NFT Marketplaces with Comparison in 2022

With more and more crypto enthusiasts turning to sell and buy NFTs, the existing NFT marketplaces are gaining in prominence and new ones are also emerging. Find out in detail about the top 10 NFT marketplaces, and understand the distinguishing features offered by each one of them.

One of the most interesting concepts in the blockchain industry is Non –fungible token or the NFT.  They use a unique algorithm to create certificates of ownership for digital content. Ownership can be proven through timestamping and encryption.  Anything in the virtual world- be it a digital file, art, or a written work – can be tokenized on a blockchain. These unique tokens that certify that a digital asset is authentic, unique, and are non-interchangeable are sold in the marketplaces for millions of dollars.  Want to know how many different markets there are for cryptocurrency? This blog will give you the lowdown on 10 major ones that rule today’s crypto world.

Let’s understand what the Top 10 NFT Marketplaces offer and what are their distinguishing features.   

NFTs have become quite a craze, climbing up the success ladder and popularity charts very rapidly. Going by the volume of sales recorded in the initial quarters of 2021 in the NFT space, it will not be wrong to say that the NFT is at its peak right now. There has been an enormous development seen in the NFT space and this has resulted in the emergence of several NFT marketplaces in the crypto sphere. The opening of NFT marketplaces has given traders the chance to participate in the purchase and sale of digital items – be it a music file to the art form to just about anything in the virtual world. If you too would want to join the bandwagon of NFT supporters and make the best use of these buying and selling gateways of digital assets then it is wise to first learn about the existing NFT marketplaces. Here we will talk about the top 10 new, popular and authentic NFT marketplaces that investors can choose.

List of top 10 NFT marketplaces:

Below are the top 10 NFT marketplaces right now.

  1. OpenSea

Open Sea is an app with all sorts of digital assets available on it and it is for this reason that it is a leader in NFT sales. It has an extensive offering of digital items that can be browsed with ease on its platform and that too for free with no registration required! Artists and creators can find support on this amazing NFT platform for selling their works of art. Moreover, it has an easy-to-use process that will help artists to sell their offerings. There are over 150 different payment tokens supported by the marketplace. If you are a new trader in the NFT space then Opensea would make a great starting point. Those who want to create your create NFT (known as “minting) can also explore this marketplace with ease.

Pros
  • A unique one-of-a kind collection minted on OpenSea
  • Low transaction cost
  • Both ERC-721s/ERC-1155s supported by this platform
  • Artists can set their own royalty rates.
Cons
  • It is not decentralized
  • Fees stands at 2.5%
  1. Axie Infinity Marketplace

Axie Infinity Marketplace, an NFT powered online shop for video games, is the second-largest NFT marketplace.  It only deals in Axies that are like Pokémon, but with a digital twist! Users can buy and sell them on this marketplace. Players use the game’s built-in breeding mechanics to create new axles which they’ll then be able to put up for sale or trade. It can be used to battle other monsters and players, thereby getting rewarded with tokens that can be used later to breed new species. 

Pros
  • Robust digital ecosystem and economy
  • Legitimate play-to-earn video game
  • Benefits early adopters
Cons
  • Expensive NFT collections
  • Initial cost very high
  1. Larva Labs/CryptoPunks

Larva Labs is famous for the viral CryptoPunks NFT project that was originally given for free in 2017 but the only way to obtain them now is to purchase it. The CryptoPunk movement has been going around quite strongly for a while now. They can be sold at any time to someone who wants them – or bought from third-party marketplaces if you’re the savvy buyer looking out for your gain! There isn’t just one form of art that comes with this label. Larva Labs makes sure there are plenty of other types too so every artist will have something different on offer. The artist Larva Labs creates art and apps on the Ethereum blockchain. One of their most popular projects, Autoglyphs, has been sold for millions of dollars after it stopped being free! 

Pros
  • One of the first NFT collections
  • Secure transactions using Ethereum cryptocurrency
  • Accessible and anyone can easily register
Cons
  • High Ethereum blockchain fees
  • Can be purchased only using ETH not traditional payment methods
  • Expensive to buy
  1. NBA Top Shot Marketplace

The National Basketball Association and Women’s National Basketball Association are foraying into the NFT space with the NBA Top Shot Marketplace. It has a collection of memorable moments such as NBA video clips and plays highlights. It is one of the first NFT series to gain immense popularity with the viewers. 

The marketplace was built by NBA as a closed marketplace with the use of Flow blockchain built by Dapper Labs. Signing up and buying on this marketplace is easy.

Pros
  • Easy to use and pay
  • Fewer risks associated with thai marketplace
  • Imperishable assets that do not decay
  • Innovative blockchain
Cons
  • Can’t list them on OpenSea and other decentralised platforms
  • Does not have a large ecosystem
  1. Rarible

Rarible is a unique marketplace for all kinds of digital arts and collectibles, with the focus of providing a platform where rare items are traded by those who understand their value in this highly competitive yet exciting market space. It is similar to OpenSea in the context of its being one of the largest marketplaces for selling and buying all sorts of digital assets such as art, videos, collectibles. However, the distinguishing feature of Rarible from OpenSea is that it requires participants to use its own token Rarible (CRYPTO:RARI) to buy and sell on the marketplace.  This major NFT marketplace will be built on top of Ethereum, making it easier for traders around the globe to access this powerful new technology as well trade their holdings in an ever growing market. It  allows sellers to generate multiple unique tokens for a single picture and sell it as many times they want.. Some reputed brands such as Yum! A brand, Taco Bell has leveraged the capabilities of this marketplace and Adobe has partnered with it to help secure the digital artists’ and creators’ work.  

Pros
  • Collections, one-of-ones
  • Art curation
  • Decentralized DAO
  • Custom contracts
  • Supports ERC-721s/ERC-1155s
  • Artist royalties are customizable
Cons
  • 2.5% fee
  1. SuperRare

It is an upscale alternative to Rarible for digital creators, to sell digital assets including art, videos, and 3D images in its marketplace. Make your mark in the world of cryptocurrency by using its social media network. Use this marketplace that allows new talents, artists and collectors alike to buy paintings, photography prints or other art pieces created with crypto currency!

Pros
  • Art collection of one of a kinds
  • Art curation
  • $RARE token DAO
  • Supported on ERC-721s
Cons
  • 15% fee
  • Invite only
  • 10% artist royalties
  1. Foundation

Foundation promotes itself as a creative playground to bid on digital art. The new site will be simple with no-frills serving as a major marketplace for auctions of something unique and interesting in crypto.  They feature a wide variety, including two NFTs that were auctioned off for major world events: Edward Snowden’s first-ever non fungible token (NFT) as well as an embodiment of pop culture icon “Nyan Cat.”  There are more than $100 million of NFTs sold in this marketplace since its launch in early 2021.Making purchases is easy for buyers as they only need to fund their wallets with Ethereum.

Pros
  • Art one of ones
  • Art curation
  • Supports ERC-721s
Cons
  • 15% fee
  • Invite only
  • Not decentralized
  • 10% artist royalties
  1. Nifty Gateway

The NFT market is one of the first large-scale, crypto-powered platforms to launch. It was purchased by Gemini in 2019 and this proved to be a favorable decision for them. Currently it hosts some popular artists such as Beeple or singer/musician Grimes with their works for sale on this curated site that made headlines by brokering multimillion dollar deals! This marketplace provides a platform for participants to check out the curated collections, artwork by verified artists, and a larger range of work from novice artists. It works to make the nifties available to everyone involved in the marketplace.

Pros
  • Collections, one-of-ones
  • Art curation
  • Supports USD purchases
  • Supports ERC-721s/ERC-1155s
Cons
  • 5% fee
  • Not Decentralized
  • 10% artist royalties
  1. Mintable

Mintable is a new marketplace that aims to be an open, competitive and accessible system. The company was founded by Mark Cuban in 2017 with backing from the billionaire’s fund management firm Maveron Inc., which has over 5 billion dollars under its belt! Aspiring artists, creators, and NFT collectors can participate in buying, selling, and trading NFTs on Mintable with the use of Ethereum. It also supports a minting service that allows creative types to create their own NFTs and collectors can buy them with ease. Mintable tokens can be created by photographers and musicians, among others. It provides artists a good exposure to their work and helps them sell their work as a digital asset.

Pros
  • Quick and free to use
  • Listings available for free
Cons
  • Transactions fees are quite high
  • Limited crypto wallet integrations
  1. Unico NFT 

This is the world’s first Bitcoin-enabled multi-chain marketplace for NFTs. It aims to be the one-stop-shop for NFT creators. It has added the cryptocurrency – BTC as a payment option for users on the NFT marketplace, thus empowering users to have more payment options. Buyers and sellers can also pay in Bitcoin Latinum, which is the more efficient and greener version of Bitcoin. It uses patent-pending technology. Make the most of this world’s first NFT marketplace where you can buy NFTs using multiple cryptocurrencies. It is a multi-chain marketplace in the true sense as it allows buyers, sellers, and traders to manage NFts across different blockchains using a single platform. It already supports three blockchains such as Ethereum, Binance, and Polygon. NFT creators can get wider exposure on this platform.   It is likely to emerge as one of the most secure and reputable NFT art marketplaces.

Pros
  • World’s first Bitcoin enabled multi-chain NFT marketplace
  • Quick and easy to buy or sell NFTs using BTC and LTNM
  • Uses a patent-pending technology
  • Solve the typical problems of using the Ethereum blockchain
Cons
  • New platform and hence needs more visibility

Comparison of Top 10 NFT Marketplaces:

top 10 NFT marketplace

Prolitus for NFT marketplace development 

Prolitus offers the best development services for the NFT marketplace, but in addition, we work closely with our clients to provide an excellent NFT marketplace. What makes this even more legible is that it’s beneficial to both buyers and creators around the world who are looking into using these types of marketplaces

The Prolitus team has over several years of experience when developing applications on behalf of organizations like yours – no matter if you need help building your first ever crypto asset or you need some technical assistance managing collections that already exist!

At Prolitus our ultimate objective is not only to create reliable white label NFT marketplaces but also to enable clients to derive optimum benefits when making these types of transactions across multiple platforms through us! Hire our services to compete in the virtual space with NFT Marketplace Development. 

Conclusion 

Decide on the type of digital asset that you as a crypto enthusiast would be interested in buying, selling, or creating before you choose from any of the above top 10 NFT marketplaces. Also, take into account the type of tokens supported by different marketplaces to zero in on the right NFT marketplace. Consider the security features of the marketplaces in force and check for the issues they had in the past to make an informed choice of the NFT marketplace.

 

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