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Biggest NFT Marketplaces

We take a look at the marketplaces where you can buy and trade these unique digital art tokens as their popularity and price is exploding.

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NFTs had been around for a while, but in the year 2021, they became widely known.

The cryptographically unique tokens indicate a title of ownership over digital property such as art, music, or videos—but it was the digital art scene that sparked the NFT market, with record-breaking sales like Beeple’s $69 million Christie’s auction drawing headlines around the world.

Since then, fans have jumped on every new NFT craze, spending hundreds (and in some cases millions) of money on games like CryptoPunks, Bored Apes, and Loot.

But, you might wonder, where are these NFTs being purchased. NFT marketplaces have become like a vibrant virtual high street, selling digital art and collectibles at every price point imaginable. Here’s a rundown of some of the most popular platform.

1.OpenSea

OpenSea was the first and by far the largest peer-to-peer NFT marketplace. According to analytics platform DappRadar, it has a total trade volume of over $6.5 billion at the time of writing, allowing NFTs of anything from in-game items and collectibles to artwork, music, GIFs, and more.

Connecting your MetaMask wallet is the simplest way to sign up; however other wallets like Coinbase Wallet, Bitski, Formatic, and others are also supported.

After you’ve connected, purchasing an NFT is a straightforward process; you only need to browse through the various collections or search for something that catches your eye, then submit an offer and wait to see whether it’s approved.

It’s also simple to upload your NFT work. Go to the “Create” tab, connect your wallet as a creator, upload your NFT, complete the description, and wait for the millions to pour in.

2. Axie Marketplace

The second-largest NFT marketplace is hosted by the NFT-powered video game Axie Infinity, with a total trade volume of more than $2.1 billion on Dappradar. However, it only deals in Axies, adorable Pokémon-style digital pets that gamers can buy and sell on the Axie Marketplace.

You can also use the game’s built-in breeding mechanics to make new Axies, which you can then sell on the Marketplace. Unlike art NFTs, which are collected for the sake of collecting, Axie Infinity’s NFTs have a purpose: they may be used in-game to fight monsters and other players, earning tokens that can be used to create new species. Axie Infinity’s NFTs have proven so profitable that some players in the Philippines and Indonesia make a living breeding and trading them.

However, Axie Infinity is one of the most difficult NFT services to use for new users, and you’ll have to jump through a few hoops before you can even start playing the game.

You’ll need to set up a Ronin wallet, transfer ETH into Ronin, and acquire a minimum of three Axies from the Axie market in addition to an Ethereum wallet like MetaMask (which will set you back several hundred dollars). This isn’t ideal for casual passers-by, but it’s not beyond a seasoned crypto user’s capabilities.

3.CryptoPunks/Larva Labs

CryptoPunks is a series of 10,000 randomly generated characters with pixel art aesthetics and distinct traits that were one of the first demonstrations of NFTs on the Ethereum network. Unfortunately, while they were once available for free, the only way to obtain one today is to purchase one.

That involves going to the marketplace run by CryptoPunks founder Larva Labs, where most sales are made. And buying one is expensive: the cheapest Punk now costs 94.99 ETH (about $285,000), while the most valued one sold on the marketplace (number 3100) sold for an incredible $7.58 million. That explains Larva Labs’ $1.3 billion in all-time trading volume.

First, connect your MetaMask wallet, browse the available Punks (those with red backgrounds are for sale), and place your bid.

The most challenging aspect of the procedure is persuading yourself to spend such a large sum of money, but hey, that’s on you. After all, the worth of art is in the eyes of the viewer.

4.NBA Top Shot Marketplace

NBA Top Shot is a set of digital trading cards using NBA video highlight clips, and it was one of the first NFT series to find momentum with the general public. Clips are stored in your safe, encrypted blockchain-verified wallet when you purchase a pack, where you can view them or resell them on the NBA Top Shot Marketplace.

The popularity of NBA Top Shot can be attributed to the fact that its makers, Dapper Labs, have made it simple for the average user to get started. Linking your Google account to Dapper is the simplest method to sign up for NBA Top Shot, after which you’ll be asked to input your phone number for SMS authentication.

After that, you must complete a few account creation processes, including picking your favorite team. After that, you can join a drop on fresh packs, which will put you in a virtual queue before grabbing a bag. Then, following another SMS verification, you can pay using an existing crypto wallet, a Flow wallet, your Dapper money, or, more conveniently, a credit card.

5.Rarible

Rarible is a community-owned platform that offers a wide range of digital art and collectibles. It is one of the significant NFT marketplaces on Ethereum. Dappradar presently has the fifth-highest all-time trading volume, with $210 million changing hands.

You can buy and sell all kinds of material, just like on OpenSea. Sellers can also make many NFTs for a single image to sell it multiple times.

Users who have dabbled in comparable NFT marketplaces like OpenSea will feel right at home with Rarible’s user interface, which is easy enough for relative crypto newbies to utilize.

You can log in using MetaMask, Coinbase Wallet, MyEtherWallet, or any mobile wallet that supports WalletConnect. You can use funds in your wallet to buy, or you can top up your wallet with fiat cash by bank transfer or debit card once you’ve signed up.

6.SuperRare

Where Rarible’s design overwhelms you with a dizzying selection of flickering GIFs and live auctions, SuperRare’s UI is far more pared-back and straightforward.

It’s also a lot more curated, as it bills itself as a social network that promotes the development and collection of crypto art. In addition, it collaborates closely with artists, requiring work to be submitted and vetted before it can be listed; in other words, quality above quantity.

A compatible wallet, such as MetaMask or Formatic, is required to sign up for SuperRare. An additional step requires you to create a username and password linked to your wallet address, but it just takes a few seconds, so you’ll be browsing the platform’s exclusive NFTs in no time.

7.KnownOrigin

KnownOrigin, like SuperRare, promises to deliver a more curated, gallery-like experience for the discerning NFT enthusiast. Its all-time trade volume is under $6.9 million. All of its artwork files are stored on IPFS, which gives the underlying assets some protection. With a heavy focus on digital art, this marketplace avoids the wackier features of the NFT universe; therefore, no wacky avatars or charming monsters will be found here.

KnownOrigin is straightforward to use, at the risk of sounding like a broken record. Simply link your wallet, such as MetaMask or Formatic, and you’ll be bidding on your own desired NFT assets in no time.

8.Foundation

Foundation, which bills itself as a “creative playground” for artists, currently has a total trading volume of slightly over $79 million. The NFT of popular Internet meme Nyan Cat, Edward Snowden’s debut NFT, and an audiovisual digital collectible made by producer Richard D. James, better known as Aphex Twin, have occurred there.

Foundation’s marketplace is straightforward to use once you’ve connected your MetaMask or other software wallet with WalletConnect. You can put bids on timed auctions just like you would on a standard auction site.

9.MakersPlace

MakersPlace is another niche NFT marketplace that prides itself on having several exclusive digital fine art collections. Although its total volume is minimal ($23.5 million at the time of writing), it contains many one-of-a-kind items that add to its exclusivity.

MakersPlace is another niche NFT marketplace that prides itself on having several exclusive digital fine art collections. Although its total volume is minimal ($23.5 million at the time of writing), it contains many one-of-a-kind items that add to its exclusivity.

It’s simple to become a buyer on MakersPlace, and you can even save time by logging in with your Google or Facebook accounts.

As part of the registration procedure, you’ll have to choose five artists to follow, and you’ll be able to buy their creations with either your MetaMask ETH balance or (more conveniently) your credit card. Then, if you’re a creator, you’ll need to fill out an online form to request an invitation to join the platform, which the curators will review.

10.Nifty Gateway

One of the first waves of large NFT marketplaces, Nifty Gateway, has a significant supporter of cryptocurrency exchange Gemini, which purchased the site in 2019. Nifty Gateway made waves during the NFT boom by brokering the sale of Beeple’s CROSSROAD for $6.6 million in February 2021, which was one of the first multimillion-dollar NFT deals. By May, the platform’s gross sales value had surpassed $300 million.

The portal hosts artists such as The Weeknd, Grimes, and Eminem and delivers a tightly curated selection of NFT drops on a tri-weekly schedule. It also features a marketplace where you may look through curated collections, verified artists, and a more extensive selection of work from unconfirmed artists.

Because of Nifty Gateway’s close connection with Gemini, getting started is a reasonably straightforward process. To begin, you’ll need to create an account on the site (and use Stripe to authenticate your identity if you wish to sell NFTs). Next, you’ll need to fund your account, either with a credit card or by sending ETH to a deposit address. After that, you’re ready to purchase NFTs from the marketplace.

You can also link your Gemini exchange account to your Nifty Gateway account, allowing you to make purchases and withdrawals using your Gemini exchange account balance (your Gemini account can be topped up using bank transfer, wire transfer, crypto deposits, and trades).

11.BakerySwap

BakerySwap is a more miniature NFT marketplace than OpenSea, but that’s not surprising given that most NFT markets are built on Ethereum, while BakerySwap was one of the first to start on Binance Smart Chain (BSC). One site element is the NFT marketplace, which allows users to trade and swap liquidity assets directly.

The NFT marketplace is simple enough to use, requiring only a MetaMask connection. However, because this platform is based on the Binance Smart Chain, NFT assets can only be acquired with BNB rather than the more commonly used ETH.

12.Binance NFT Marketplace

Binance NFT marketplace is, as you might expect, an NFT platform provided by Binance, the world’s largest crypto exchange. The company intends to create an NFT marketplace with exclusive offerings and collaborations to entice the exchange’s large user base to its platform.

If you already have a Binance account, you’ll be happy to know that it will operate with Binance NFT instantly. It’s as simple as bidding on any items that grab your eye after you’ve gotten in. Depending on what the producers have specified, you can use ETH, BNB, or BUSD.

13.Solanart

The most recent NFT mini-boom occurred on Solana, a blockchain that competes with Ethereum. On marketplaces like Solanart, collections like Degenerate Ape Academy, Aurory, and SolPunks have witnessed trading volumes of hundreds of millions of dollars.

Solanart, unlike OpenSea, is a selected collection of NFT collections, with a small selection of NFTs available for purchase.

To begin purchasing Solana NFTs on Solanart, you must first download a Solana wallet, such as Phantom or Solflare, and load it with Solana from your preferred exchange. Phantom has direct integration with the crypto exchange FTX, making depositing funds from that exchange a breeze.

It’s only a question of going to your preferred NFT, connecting your Solana wallet to the marketplace, and placing your bid from there.

Projects

Shopify Expands Online Retailers’ NFT-Gated Options

Brands are able to increase the exclusivity of their shops thanks to the e-commerce platform.

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The future of e-commerce, according to Shopify, is in NFTs.

As a new option for brands wishing to make their stores more exclusive, the online retail behemoth, which enables small businesses to construct customized e-commerce shops, is providing NFT-gated storefronts, Shopify announced on Wednesday.

In the Shopify introduction video, which includes a skating woman who passes through a pastel portal and transforms into a Doodles NFT, a voiceover urges viewers to “invite their communities into a world that acknowledges and rewards devotion.”

The video explains that token holders can access special shopping opportunities by connecting a cryptocurrency wallet, including early access to drops and limited collections as well as one-of-a-kind experiences and other surprises.

Only individuals with existing NFT collections are able to apply for early access to Shopify’s “gm” shop, which is a gated merchandise store and a play on the Crypto Twitter acronym for “good morning.”

However, those that haven’t received approval yet can still integrate NFT token-gating apps like Shopthru or Single into their Shopify sites.

Shopify announced that it has already collaborated with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to develop token-gated shops as part of its token-gated business launch.

Shopify is introducing “IRL” token-gating in brick-and-mortar stores in addition to online token-gating, which restricts access to certain merchandise to authorized NFT holders exclusively.

Why is this important? The future of Web3 commerce will focus on exclusivity, for one thing. NFTs, which are distinctive blockchain tokens that denote ownership over an asset, are increasingly employed as membership cards, tickets to events, and “keys” to open benefits, despite the fact that they are frequently oversimplified as digital art or “jpgs.”

Additionally, this isn’t Shopify’s first venture into NFTs: The business has been involved with Web3 since last year, when it announced the launch of NFT sales on its platform. Brands can mine and sell NFTs on Shopify to clients using the Ethereum, Polygon, Solana, or Flow platforms.

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OpenSea, beware—Uniswap is pushing into NFTs

The NFT aggregation platform Genie is being purchased by Uniswap Labs, the organization that created the Ethereum-based decentralized exchange Uniswap.

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In a Bankless interview on Tuesday, Uniswap founder and CEO Hayden Adams said, “We’re attempting to transfer what we brought to the ERC-20 market to the NFT sector.”

You can buy NFTs—individual blockchain tokens that represent ownership—on a variety of different marketplaces, such as OpenSea, LooksRare, or Coinbase NFT. However, few allow consumers to buy many things at once, and none provide aggregation tools that let traders view listings on competing marketplaces.

According to Uniswap Labs on Twitter, “We see NFTs as another form of value in the burgeoning digital economy, and it’s a no-brainer for us to integrate them.”

The NFT aggregator Gem, which also enables customers to acquire numerous NFTs in a single transaction, was purchased by OpenSea just two months prior to the announcement of its acquisition by Genie. OpenSea intends to incorporate NFT aggregation functions into its primary platform, just like Uniswap.

A new tab dedicated to NFTs will be added to Uniswap’s main website later this year as part of the company’s push into NFTs, according to a statement from the company. Additionally, NFTs will be included in its developers’ APIs and widgets.

Uniswap Labs intends to airdrop an unspecified quantity of the stablecoin USDC to Genie’s early backers as a way to commemorate its acquisition. By April 15th, USDC will be given to everybody who had utilized the platform at least once or owned a Genie Genesis NFT. (The business had earlier tweeted that Genie Gem owners were eligible for the airdrop.)

Uniswap entered the NFT market for the first time in 2019 with Unisocks, an NFT that granted holders access to a real pair of socks.

The largest NFT market, OpenSea, has a floor price for Unisocks of 13 ETH (about $15,300) at the time of writing.

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NFT marketplace in Solana Magic Eden completes a $130M Series B investment with a $1.6B value

Over 90% of NFT trade volume on Solana is accounted for by Magic Eden.

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On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital valued the firm at $1.6 billion.

The newly-infused capital will be used to expand the company’s primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development. Since its inception in September 2021, the marketplace now receives an average of 22 million unique monthly sessions and sees over 40,000 NFTs traded daily.

Magic Eden’s Launchpad has also onboarded over 250 projects to date. In addition, it offers customization, marketing support, and operational execution to new NFT collections coming onto the primary market. Meanwhile, its secondary market covers over 7,000 listings and sees over 92% of all NFT volume on Solana.

Furthermore, Magic Eden has also launched over 50 games and metaverse projects. In that segment, the firm oversees 90% of all gaming NFTs on Solana traded on its marketplace. Regarding the development, Zhuoxun Yin, chief operating office and co-founder of Magic Eden, commented:

“We’re thrilled to have the continued support of our investors and community and look forward to delivering on Solana and beyond.”

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