Non-Fungible Tokens (NFTs) are a unique new asset class that has been developed as the result of the invention of blockchain technology. NFTs have been extremely famous in recent times and have transformed collectibles, arts, and digital asset markets. A thriving ecosystem of NFT marketplaces has been developed as a result of these peculiar digital assets, bringing NFT collectors, creators, and enthusiasts together to purchase, sell, and trade NFTs.
These NFT marketplaces consisted of a large range of trading different NFTs products, ranging from music, videos, games, digital arts, trading games, tweets, etc. This content will be making emphases on; what the NFTs marketplace is all about, how to buy NFTs in the marketplace, and famous examples of NFTs marketplaces considering the significant roles that there played in transforming the industry.
What Is NFTs Marketplace?
The NFTs marketplace is the place where you mint, buy, sell, bid on, and trade NFTs. Early access to cutting-edge NFT collections from creators, including unique projects is given to users and participants. Most centralized exchanges have an NFT marketplace on their platform, exchanges such as Binance, Bybit, Okx, etc.
How To Buy NFTs At Marketplace?
The subsequent paragraphs will be discussing how an individual can buy NFTs in the marketplace.
The majority of NFTs markets use cryptocurrencies for trading and market participation. Therefore, you must buy cryptocurrency. The preferred cryptocurrency is Ethereum.
After buying the coin, visit the preferred NFT marketplace, for example; binance marketplace, bybit marketplace, etc and analyze the available NFTs until you find the one that meets up with your desires. Use your cryptocurrency to pay for it and keep it in your wallet.
Famous NFTs Marketplace
There are many places where you can find digital artwork to collect. Examples of these marketplaces are; OpenSea, Super Rare, Decentraland, Atomic Market, Binance NFTs, Async Arty, etc
1. OpenSea:
This is well-known to be the world’s biggest NFTs marketplace. It is a peer-to-peer marketplace that specializes in crypto collectibles and rare digital products. Sometimes, it is referred to be the first marketplace for cryptocurrency assets which include; games, crypto collectibles, and other blockchain-backed products. Users of the OpenSea platform can trade their NFTs using a smart contract feature. This marketplace contains different digital assets ranging from virtual real estate, artworks, collectibles, etc. It also contains several properties that enable users to auction, the capability to customize, create NFTs, etc.
2. SuperRare:
SuperRare is a wonderful place to start your analysis if you are looking for rare art NFTs. For artists and collectors to trade verities of cryptocurrencies, SuperRare offers a strong and healthy marketplace. Ethereum blockchain is used on the SuperRare platform to validate art NFTs, thereby preventing fraud. You have the choice to sell your chosen NFTs that you purchased on the secondary market. Holders of art NFTs can also use Virtual Reality galleries to showcase their collections to other users. Due to its emphasis on scarcity and exclusivity, SuperRare has drawn numerous notable artists and collectors, making it a well-known destination for artwork enthusiasts in the NFTs industry.
3. Decentraland:
As a result of the enormous amount of NFTs available, decentral is another excellent NFTs marketplace for artwork enthusiasts. On the decentraland marketplace, a wide variety of NFTs including; real estate, virtual wearables, and even names can be purchased, sold, and collected. Decentraland has a native cryptocurrency token called $MANA for efficient marketplace operation. Buying crypto collectibles on decentraland market requires the use of $MANA.
4. NBA Top Shot:
In collaboration with the National Basketball Association (NBA) and the National Basketball Players Association (NBPA), NBA Top Shot was created as one of the masterpiece NFTs marketplaces. Basketball fans now have the opportunity to purchase NBA collectibles in the form of moments, which are short videos that show important events from NBA games. NBA Top Shot attracted both sports enthusiasts and NFT collectors.
5. Atomic Market:
This is another example of an NFTs marketplace that is built on EOSIO. It helps users to generate, buy, and sell rare nonfungible tokens. There are over 40,000 users on the Atomic Marketplace. Developers can build their own NFTs marketplace with the help of intuition without needing to be very knowledgeable about smart chains or blockchain technology. On the Atomic Marketplace platform, about 11,421,434 NFTs have been created.
6. Rarible:
It has a variety of features that set it different from other marketplaces on the list, Rarible is one of the NFTs marketplaces with the fastest rate of growth. It enables creators, including artists, to produce and sell their digital art assets. Buyers and creators can trade directly using assets built on the Ethereum network.
Summary
For cryptocurrency enthusiasts, the NFTs mania has reached a new high and given rise to a completely new digital economy. The existence of an active marketplace of NFTs fuels this digital economy. In a few years, this market has contributed to sales totaling more than $1.1 Billion.
NFTs marketplaces are certain to see an increase in both the amounts of sales and the number of users as more content creators depart from the traditional venues of art events.
