The growth of NFTs
As celebrities and tech advocates continue to hop on the cryptocurrency bandwagon, non-fungible tokens (NFTs) have grown in popularity. NFTs are noteworthy since they are based on blockchain technology and provide artists and creators with exclusive ownership. If you’re a digital artist wishing to convert and sell your images, videos, GIFs, music, or other digital art to an NFT, we’ve compiled the best NFT marketplace list where you can get your digital collectible published and sold to the correct audience.
The best NFT marketplace
One of the largest NFT marketplaces is OpenSea. The platform makes it simple to create, purchase, and sell NFTs. It has been dubbed the “eBay” of NFTs, with over 600,000 users and 2 million collections containing 80 million NFTs. If you are a first-time NFT collector, the platform provides a basic lesson. Images, video, 3D, and music are all supported by OpenSea. The company does not target a specific demographic. It enables any artist or creator to purchase, sell, or auction their NFTs.
Users must pay a ‘gas fee’ in order to generate or ‘mint’ an NFT. The transaction charge required to enter your digital work into the blockchain smart contract is known as the gas fee. OpenSea charges a service cost (ranging from $70 to $300) for the first NFT minting, but users are simply required to pay a gas fee after that.
Opensea charges a 2.5 percent commission fee on all sales. If you want to avoid paying gas fees, you might use the Polygon Ethereum blockchain.
On our list, Rarible is ranked second. It, like OpenSea, caters to a large audience. The homepage features top sales and NFT art collections, as well as the ability to search for NFTs by category (photography, games, etc.). Users can generate NFTs, sell them for a set price, or hold an auction on the site. It should be emphasized that you are not required to sell every minted NFT; instead, you can simply store them on the platform.
For first-time NFT miners, there are two costs to pay: a wallet connecting permission charge and a fee for uploading your file to the Ethereum blockchain. These are network expenses that do not benefit Rarible and can range from $100 to $300. You will only be charged the petrol price if you use the mint a second time. Rarible charges a 2.5 percent commission fee on all sales.
Rarible also allows users to collect royalties on sales, which means you can get a percentage of the sale price not only when you sell your NFT for the first time, but also if that person sells it to someone else. Royalty costs can be as high as 50% for creators.
The Foundation NFT marketplace is not open to the general public. It is an invite-only platform, which means you must be nominated by an existing NFT marketplace member to be allowed to utilize it. Creators on Foundation will need to sell at least one NFT in the marketplace before they may give out invites to any users.
This platform is similar to OpenSea and Rarible in terms of functionality. If the piece is resold on the secondary market, the wallet that originally minted the NFT receives a 10% royalty, which is paid in perpetuity. The NFT is deposited into your wallet and shows up on your Foundation collector profile when you collect a work through Buy Now, Offers, or Auctions. After that, you can put it in your virtual gallery, post it on social media, or sell it on the secondary market afterward.