The BEST NFT Marketplaces…Right NOW!

by | Feb 27, 2022 | 0 comments

NFTs Allow Artists A New Way To Express Themselves

Millions are spending billions on NFTs listed on blockchain-based marketplaces. These digital marketplaces allow for the listing, buying, and selling of NFTs or non-fungible tokens.

For those of you that know about NFTs, the next several paragraphs, which explain what NFTs are and how they are traded would be known to you so skip to the Top NFT Marketplaces…Right NOW! section.

What is an NFT?

Non-fungible tokens are digital assets stored on a blockchain that can represent any type of image or other assets. For example, art, music, videos, etc.  The blockchain provides holders (owners) of NFTs authenticity of ownership – and because they are non-fungible (unique) they are scarce and, in some cases, highly coveted.

NFT Marketplaces

NFT marketplaces are platforms that allow users to mint, list, buy, and sell NFTs using a cryptocurrency. Some of these platforms specialize in certain NFTs, such as sports, art, games, music, while others deal in all types of NFTs.

Top NFT Marketplaces… Right NOW!

OpenSea: The largest NFT marketplace. Built on the Ethereum blockchain (it does allow the use of Polygon crypto), OpenSea lists over 80 million different NFTs. Users can mint, set up profiles for their NFTs, and list them for sale all free of charge. Upon a sale, a transaction fee of 2.5% is charged to the seller.

Super Rare: An Ethereum based market, it deals with a select (and very reputable) group of NFT artists. It has strict vetting and approval processes and deals only in exclusive pieces. Charges a 15% transaction fee to artists upon sales.

Rarible: Supports three blockchains, Ethereum, FLOW, and Tezos. Very user-friendly, Rarible charges 2.5% on all sale transactions.

Axie Infinity: This is a gaming-focused NFT marketplace that is dedicated to its play-to-earn videogame. Axie operates on a Layer2 blockchain (Ronin) which runs as a side-chain on the Ethereum network.

Nifty Gateway: Managed by Gemini, a crypto-exchange, Nifty runs on the Ethereum platform. It has a strong policy of security and authenticity – with some of the toughest verification protocols for artists, which reduces frauds and scams. Artists are charged 15% on sales.

Solanart: Build on the Solana network it allows users to create, buy, and sell NFTs. It charges a transaction fee of 3% on every NFT sale.

Binance: Featured on the Binance network, it allows for all types of artwork and collectibles. Launched by the Binance crypto-exchange, it charges only 1% on transactions and is noted for its ‘mystery box’ NFT offerings.

Advice on the Metaverse From 4M Performance

NBA Top Shot: an NFT marketplace that allows gamers and NBA fans from across the globe to collect, hold, and trade digital cards representing significant videos of basketball highlights, dubbed “Moments”. These limited-edition tokens feature videos and stats depicting a rare moment, with users able to unlock extremely rare tokens by completing particular sets of tokens showcasing related “moments”. Built on the FLOW blockchain, for each NFT highlight sold a transaction fee of 5%.is charged.

Deccentraland: an NFT platform that is a virtual world built on the Ethereum blockchain. Users get access to a wide range of digital collectibles,including land parcels, in-game clothing, and estates. The platform’s native token is Mana. This platform has recorded several huge NFT sales – a single virtual land parcel on Decentraland recently sold for $2.4 million.

Stashh: this NFT marketplace prides itself on privacy, and its Secret NFTs. You can mint, buy, and sell  NFTs that are private on the platform – for both sellers and buyers. Stashh is powered by Secret Network,  a privacy-focused Layer1 blockchain network built with the Cosmos SDK. NFTs on Stashh range from gaming, to art, to sports. Stashh charges a 2.75% fee on all sales.

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By Jim Lavorato

Jim Lavorato is the founder of 4M Performance which is designed to assist businesses to survive and thrive in these uncertain times. Jim launched an entertainment-related company in 1988. He was at the forefront in cinema technology and helped spearhead the movie industry's transition to digital presentation and distribution. He also co-founded the Arboreal Group, an environmental consultancy. He has published articles on the motion picture and media industries and is a contributing editor for ScreenTrade magazine and writes a blog "Cinema Mucho Gusto". He is a certified SCORE Mentor in the SCORE Greater Phoenix Chapter and lives in Scottsdale, AZ. Learn more about Jim in his "About" page.

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