Top 8 NFT Marketplaces in 2022

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The rising tide of cryptocurrencies has been phenomenal since its inception. The former has not only changed the economic aspect of the world, but has been an important step in the renaissance of the wider industry. Besides handling digital currencies, blockchain technology has been the reason behind the launch of NFTs.

An NFT or non-functional token is a unique digital identifier that cannot be plagiarized, replaced or split. Simply put, it is a record on a blockchain linked to specific physical or digital assets, which verifies authenticity and ownership. The popularity of NFTs is very well reflected in statistics, with the market having climbed to more than $40 billion in value (according to the 2021 NFT Market Report published by Chainalysis).

Further down we have listed some interesting and innovative NFT marketplaces for you to buy and sell these digital assets –

Open sea

Launched in 2017, OpenSea is the oldest NFT marketplace. As one of the industry’s most popular marketplaces, it hosts all types of NFT, including art, photography, trading cards, music and virtual worlds. Ethereum, Solana and USDC are the main cryptocurrencies used on this platform, along with other 150 crypto tokens with various payment options.

Considering the range of knowledge of different people in the crypto space, OpenSea is seamless for amateurs as well as coherent for experts. With a few clicks, users can set up their accounts for free and start browsing as well as making NFTs on the platform.

In terms of gas fees, OpenSea charges 2.5% of each transaction, along with a gas fee for completing NFT transactions with Ethereum. However, if users want to escape the hassle of gas fees, they can buy and sell NFTs with Polygon, remembering that the Polygon logo appears on the respective item.

Therefore, to summarize, OpenSea is an important platform for users getting started with NFT trading and looking for more NFT options.

SuperRare

The quest to buy and sell art, without worrying about authenticity and ownership, ended the day SuperRare came into being. The latter is an exclusive NFT art marketplace that places credibility and artistic intent over “meme-style” NFTs. The review process of the platform, before putting items up for sale, makes investors more confident in the quality of the product.

SuperRare is known for its unique services and to fund its services it takes 15% when an NFT is sold for the first time on the primary market. In addition, there is a 3% fee on each transaction, which the buyer pays. The platform is filled with celebrity NFTs and is therefore sometimes known as an elite NFT marketplace.

In short, SuperRare is a place where users can get their hands on highly curated, original, out-of-print NFTs.

Binance NFT

Binance is one of the largest cryptocurrency exchanges and Binance NFT is working tirelessly to become one of the finest NFT marketplaces. Like other NFT marketplaces, Binance NFT also offers typical digital assets such as artwork, game items, and collectibles. What is unique about Binance NFT is that it offers users minimal loading fees i.e. 1% trading fee.

As Binance runs on the blockchain, it provides an additional benefit to its users. With similar technologies and setups that have paved the way for Binance to be one of the best exchanges, Binance NFT is evolving to be the same. By delivering exclusive partnerships and events to its users and being a user-friendly marketplace, Binance NFT is in the top tier of NFT marketplaces.

Nice gateway

Nifty Gateway is the marketplace that offers some eye-catching, expensive NFT sales. The top 2 and most expensive NFTs sold on Nifty Gateway were Beeple’s “Crossroad” and Pak’s “The Merge” which sold for $91.8 million in December 2021. Thus, the former is known to focus on artworks from celebrities and top artists .

The “open editions” system, where an unlimited number of editions are made for a limited time, are sold at a base price and thus increase demand. The limited period creates scarcity and a strong market in secondary sales. In addition, the platform also enables collectors to purchase NFTs using fiat currencies, meaning buyers can make purchases with credit cards and not cryptocurrencies.

These features make Nifty Gateway more user friendly for beginners who are not aware of crypto wallets. It makes it more seamless for new buyers who are not used to crypto wallets. Hence, Nifty Gateway is the one-stop solution for users looking for the largest investments in NFTs and access to advanced options.

Rare

The demand for an NFT marketplace that takes into account both individual works of art and collections has now been fulfilled with the launch of Rarible. The latter enables users to trade NFTs using Ethereum, Flow and Tezos. Rarible charges a 2.5% fee on each transaction with minimal gas fees, and supports credit card and fiat currency transactions.

With a variety of token options, users can select their preferred gas tax and carbon footprint and enter the market. In addition, Rarible also created its native token RARI, allowing token holders to vote on corporate decisions and take part in policy changes.

In partnership with Adobe, the platform now has a head start on the verification and protection of metadata for digital content, including NFTs. Rarible flows with a decentralized mindset and is a perfect solution for users who want to access a large network with solid connections.

Magical Eden

It was doomsday in the NFT room when people witnessed a major NFT crash. This has led to a gradual reduction in trading and minting of NFTs using Ethereum, especially due to its high gas fees. To counter overhyped Ethereum gas fees, Solana came into the limelight.

Taking the opportunity further, Magic Eden, a Solana-based NFT marketplace was launched. As a community-driven platform, Magic Eden works hard to be close to the ground, responsive and in service of the best interests of the collections. Solana NFT requires Phantom as its specific wallet for trading and there can be no better place than Magic Eden to offer the same.

The platform has pushed out some well-known NFT collections such as Trippin’ Ape Tribe. Users can be a part of this amazing NFT marketplace by applying for a listing and get a chance to launch a collection or NFT.

Coinbase NFT

Launched in Q2 of 2022, Coinbase NFT is a newborn baby in the NFT market. The Coinbase trading app and the Coinbase platform have themselves been at the heart of the crypto boom. Its user-friendly and highly secure technology has made Coinbase a well-known platform in the crypto space.

Introduced in and around the NFT crash period, Coinbase NFT is on the verge of becoming a huge hit. The former can be easily connected to the Coinbase crypto wallet and Coinbase trading app, making it easier for users. The simplicity of the platform results in Coinbase NFT being a platform known for its robust user experiences in the space.

In addition, the platform has witnessed some exclusive NFT project launches, one of which is the “Bored Ape Yacht Club movie trilogy.” It also offers its users 0% transaction fees which are for a limited period of time. To summarize – Coinbase NFT, although a newbie, has gained a lot of traction among many users in the industry.

BakerySwap

Unlike other NFT marketplaces, BakerySwap is a small marketplace curated for crypto fans. The former is designed to encourage and reward the community with gamification rewards. This makes BakerySwap stand out from the rest. The USP of the platform lies in the fact that it is an Automated Market Maker (AMM) and Decentralized Exchange (DEX) on the Binance Smart Chain (BSC).

The platform uses a native token (BAKE), which enables users to earn bonus BAKE tokens via “combined meals.” In addition to hosting regular memes and art contests, BakerySwap allows users to purchase NFT games with their native token. In addition, the platform supports wider metaverse content and motivates amateurs to buy and sell NFTs with its user-friendly technology.

In simple words, BakerySwap, although a small and new NFT marketplace, is known for promoting and attracting users from a unique perspective. Therefore, it finds its name in the top-level NFT marketplaces.

Final thoughts

Although NFT marketplaces are popular, they are also supplemented with various jargons that make it previously controversial in the wider industry. However, the controversy does not drown out the benefits that NFT marketplaces offer.

Since NFTs use blockchain technology like cryptocurrencies, the benefits are also similar for both of them. NFTs’ indivisible nature, complete transparency, first-class security, high liquidity, authenticity and unique ownership make NFTs the hottest topic in the crypto space.

The mentioned names are not only part of the top tier NFT market but also USP of various platforms. This makes it easier for users to choose between different platforms, according to their tastes and preferences.