Digital collectibles and art have undergone a radical transformation because of the emergence of non-fungible tokens (NFTs). NFTs provide artists with a unique means of tokenizing and marketing their digital works, drawing global collectors and enthusiasts.
Reports show that, in February 2023, the combined NFT trading volume of the top six NFT platforms was $1.89 billion. The total amount of NFTs exchanged has gone up for the fourth month in a row, rising 91.9% month over month (MoM) from January 2023, when there were just $987.9 million worth of NFTs sold. In light of developments like Blur’s trader-centric approach and open edition NFTs, NFTs appear to be enjoying a slight recovery, as seen by the reversal of the preceding six months’ drop. Below are some of the top NFT marketplaces for creators where they can buy and sell their art.
Top NFT Marketplaces For Creators
OpenSea
With millions of active users, OpenSea is the first and biggest web3 marketplace for NFTs and crypto collectibles worldwide. It is a marketplace where users can create, buy, sell, and exchange NFTs. The platform provides a large selection of non-fungible tokens, such as collectibles, virtual worlds, trading cards, sports, and art, amongst others.
It has both ERC721 and ERC1155 assets. On the platform, you can find exclusive digital assets, including Axies, ENS names, CryptoKitties, Decentraland, and more, available for purchase, trade, and exploration. The platform has around 700 projects, including collectible games, trading card games, name systems like ENS (Ethereum Name Service), and digital art projects.
Rarible
Rarible is an Ethereum-based platform that makes it easier to create, sell, and acquire ownership rights to digital artworks through the use of non-fungible tokens (NFTs). Rarible uses two NFT token standards: ERC-1155, which permits the creation of multiple editions of a product, and ERC-721, which permits the creation of one-off unique items. Rarible purchases and sells NFTs in a variety of categories, including games, art, photography, games, memes, and more.
SuperRare
SuperRare is primarily focused on operating as a virtual NFT marketplace for the sale and purchase of unique, limited-edition digital artwork. It is based on Ethereum, a distributed ledger technology that enables users to safely confirm the creation and ownership of works of art.
The original artist creates each piece of art on SuperRare directly from their own distinct wallet address, and the blockchain records every bid, sale, and collector throughout the token’s history. The Ethereum network’s native coin, ether, is used for all platform transactions.
Foundation
Foundation is a specialized platform created to unite collectors, digital artists, and native crypto users in order to advance NFT culture. It describes itself as the “new creative economy”. Digital art is its main area of focus. On this platform, an artist receives 10% of the sales value each time a collector resells their art to a different buyer at a higher price.
Takeaways
These popular NFT marketplaces allow users to purchase, sell, or trade their NFTs in a variety of markets. These different NFT marketplaces have their own set of rules, features, and emphasis on specialized niches. Explore these to discover the suitable options for your needs.
