Last Updated on March 20, 2024 by Zabih Ullah Khan
According to Statistica, the NFT market in KSA is on a rapid growth trajectory, with an anticipated revenue expected to reach an astounding US$30,580.0k by 2024. In this article, we offer insightful information on NFT marketplaces, which can help you better navigate the world of digital assets. Below, you will discover reliable marketplaces to buy NFT in Saudi Arabia.Â
Marketplaces To Buy NFT In Saudi Arabia
Nifty Souq
With its cutting-edge blockchain technology and user-friendly interface, Nifty Souq is the largest and most innovative platform for NFTs (Non-Fungible Tokens) in the MENA region. This platform serves as a central hub for communities, companies, and creators from all backgrounds, promoting the sharing and sale of their own original works in the form of NFTs.
OpenSea
OpenSea enables users to create, buy, sell, and exchange NFTs. With over three million active members and a daily trading volume of over $4.5 million as of January 2024, it is the biggest NFT trading platform. Art, music, collectibles, virtual lands, sports assets, domain names, and utility NFTs such as membership passes are just a few of the categories of NFTs that are supported by OpenSea.
SuperRare
SuperRare is an Ethereum-based digital art marketplace and was introduced in 2018. SuperRare takes great pride in being very particular about who gets to mint NFTs on their website and making sure each NFT is genuinely unique, in contrast to competitors like Rarible and OpenSea. This suggests that there are fewer NFTs available on SuperRare, but it also ensures that the NFTs you see there have undergone quality screening.
Rarible
On the multi-chain marketplace Rarible, you can create, buy, and sell non-fungible tokens. It is one of the most popular NFT marketplaces and is built on the Rarible Protocol. The Rarible Protocol is an open-source, multi-chain, community-governed NFT protocol. On Rarible, users can buy and exchange Ethereum, Polygon, Tezos, and Immutable X. Users will, however, have to pay certain fees.
Binance
In 2021, Binance, a leading cryptocurrency exchange, introduced an NFT marketplace. Binance NFT provides digital assets including art, gaming items, and collectibles that are commonly available on other large marketplaces. One significant advantage of Binance NFT is that it charges very low fees. The platform simply charges a one percent trading fee. Also, it’s an easy-to-use platform that was created with layouts and technology similar to their exchange. Binance has an advantage over other major players in the cryptocurrency market because it operates on its own blockchain.
Takeaways
In the ever-growing NFT market in Saudi Arabia, exploring reliable platforms like Nifty Souq, OpenSea, Rarible, SuperRare, and others provides a gateway to the diverse world of digital assets, offering both quality and opportunity for buyers and creators alike. Explore these marketplaces to buy NFT in Saudi Arabia.
