The interest in purchasing digital art has waned somewhat in previous years. Some major digital art pieces have actually fallen in price by huge amounts. However, this doesn’t mean that investing in digital assets like this should be avoided. Rather, it’s important to choose the right website for purchases and sales, one where you can carefully analyze all associated risks and analyze data effectively. But which are the best marketplaces for buying and selling NFTs?
What are NFT websites?
There are many different NFT websites available, but each offers different features and functions. On top of that, it’s important to understand how to find valuable pieces of art that will actually make money rather than hemorrhage it. And this is where the problem lies. Some NFT sites allow the posting of any NFT at all, which can make them overcrowded by art pieces. This prevents the best meeting of artist and buyer. Many sites are also not geared toward providing actual assistance when it comes to investors or creators. Others only feature art from famous artists and can sell for millions, just like Banksy’s Morons.
Much like any online platform—whether it’s a trusted online casino like Gembet, or an NFT marketplace—doing thorough research and comparisons is essential before getting involved. The online casino industry, for instance, can be overwhelming, with platforms offering countless games and extra features that may not always enhance the experience. Just as players seek out the best casino for their gaming needs, NFT enthusiasts should carefully review marketplaces to find one that aligns with their goals—whether as an investor, collector, or creator.
Top NFT sites to look for
There are three major NFT sites that you should be looking at. We’re going to have a look at each one to compare the different features they offer and why one might be better for you than another.
OpenSea
Launched in 2017, OpenSea quickly cemented itself as a top NFT site. It uses a decentralized community and has cryptocurrency wallets, assets, and addresses all controlled by the users themselves. It supports a wide range of different currencies including Ethereum, Polygon, Avalanche, BNB Coin, and Solana blockchains to name a few. NFTs can also be purchased with any ERC-20 tokens or via card purchases via MoonPay. There is a standard fee of 2.5% which is paid by the seller, and taken out of the overall deal price. At this time, it’s got one of the widest selection of digital artworks. Unlike other sites, OpenSea includes virtual lands, art, music, collectibles, utility, domain names, and sports assets NFTs.
Rarible
This is another top platform for NFTs and was launched in 2020. It brings together those who are looking for purchases, but also those who want to create NFTs. Rarible is supported by a range of blockchains such as Solana, Polygon, Immutable X, and Flow. This means it’s an expandable and useful platform. Just like other platforms, there is a 1% commission fee in place, though this is applicable to both buyer and seller. However, unlike other platforms, Rarible offers a royalty program. This means that artists can integrate the ability to collect royalties into the NFT, earning as much as 50%. Very specifically though, Rarible only has art-based NFTs, making this a more exclusive platform.
Binance NFT
The final site on this list, Binance NFT, was launched in 2021. It’s an NFT and mystery box marketplace for crypto enthusiasts, creators, and artists. Similar to other sites, there’s a 1% fee involved. Via this platform, users can issue NFTs, but also have their collections located on either the Ethereum or BNB blockchains. On top of trading and selling, initial offerings (INOs) and stakeNFTs can be launched. It’s even possible to get loans here with the NFT as collateral. The platform is still very much in the growth phase though, and has fewer users at this time than some of the other platforms. However, it has a wide range of different NFT types available and these include art, gaming, finance, real-world assets, logistics NFTs and music.
While these all have standout features, there are other sites to consider as well. If you want sites with the most users, then SuperRare is the place to go. This site, as the name suggests, only has rare digital art, those with a high market value. NiftyGateway also focuses on quality rather than quantity, with art typically from famous artists. However, this comes with a 5% fee.
Carefully consider what it is you’re looking for when purchasing or creating NFTs. Use this to inform your choice of NFT website.
