Tokenized assets and rare digital collectibles are raising billions of dollars in NFT markets, and everyone, including celebrities as well as top artists, is looking for a way to participate in this NFT craze.
Many different platforms are built on different blockchains that allow you to buy and sell NFTs.
Platforms differ in availability and amount of fees required to pay, speed of transaction processing as well as security.
What are NFTs
Irreplaceable tokens, or NFT for short, are cryptographic tokens that are stored on a blockchain, where they live and exist.
NFTs can be anything from music, audio and video files, gifs, solarians, birds, cats, monkeys, and even a rock even though it sounds crazy to you.
And since they are not substitutable, they cannot be exchanged for any type of asset or for other NFTs, which makes them scarce in procurement and highly desirable.
The explosion of the NFT market
Irreplaceable tokens have exploded in value in 2021, and the number of sites that facilitate NFT transactions is growing on a much larger scale.
These platforms are better known as NFT Marketplaces, and allow users to mint, list, purchase, and generate crypto art and digital collectibles.
The five best NFT marketplaces are; DigitalEyes, OpenSea, SuperRare, and NBA Top Shot Rarible.
We will explain each NFT marketplace and what NFTs it offers as well as its benefits.
Top 5 NFT Marketplaces
DigitalEyes is an online NFT marketplace that is one of the best markets for Solana cryptocurrency. DigitalEyes allows you to buy, sell or auction NFTs.
DigitalEyes emerged as a cheaper version of Ethereum, a market that was affordable for those on a not-so-big budget.
The fee you pay on DigitalEyes is 0.001 SOL. The buyer is the one who pays two special fees if he decides in the end on the work.
Some of the most popular NFTs on DigitalEyes are; Pesky Penguins, Degenerate Ape Academy, and Solana Monkey Business.
OpenSea is one of the largest and most represented NFT markets. On this platform, you can create, buy, sell or auction NFT.
This platform is built on the Ethereum blockchain, and there are over 750 NFT projects with more than 90 million NFTs free and ready for investment and trade.
Every single one of the most popular ones are just that; Bored Ape, CryptoPunks, and Doodles.
SuperRare is an Ethereum-based NFT market that works with several selected and renowned NFT artists.
He is a pioneer of digital art to preserve the culture of the digital art collection. The market has strict checks and approvals before digital works of art are put up for sale.
The SuperRare market is not as eventful as OpenSea, but the market has very exclusive digital artwork. The SuperRare platform charges a 15% fee on its primary sales.
- NBA Top Shot
NBA Top Shot is an NFT market that allows NBA players and fans from around the world to collect, hold and exchange digital cards that represent significant short video gambling moments, aptly named moments.
These limited edition tokens contain videos and statistics showing rare moments. For each NFT highlight, the platform charges a transaction fee of 5%.
Rarible is a decentralized community-owned NFT market that offers customers access to a large number of NFTs for buying and selling. Rarible supports three different blockchain networks: Ethereum, Flow, and Tezos.
This platform allows users to create, buy and sell NFTs from any of these three blockchain networks on Rarible. Raible charges a transaction fee of 2.5%.
It’s time for you to get into the game.