With all of the NFT marketplaces out there, we break down some of the pros and cons of the biggest six.
They’re absolutely necessary if you are interested in buying or selling blockchain-based digital forms of art, music, or assets.
It’s not a question of whether or not you’ll ever need an NFT marketplace — it’s a question of which one you’ll choose.
Here are the six top NFT marketplaces in 2022 and why you should consider using them
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How to Choose an NFT Marketplaces
Second — you want to find a marketplace that a lot of other people are using, and using actively. The more people use the platform, the higher your chances of finding buyers for your NFTs. More activity also usually means more competitive prices — which is probably what you are looking for.
Is the marketplace centralized or decentralized?
Centralized marketplaces often operate as the middlemen between users and the NFT market, while the decentralized options enable more or less direct access to the market.
It is also worth mentioning that the governance system of the marketplace will go a long way to determine whether you can purchase NFTs with fiat currencies — an important consideration.
And last but not least — do your own research. Check out the reputation of the marketplace!
You are probably aware that there are tons of scammers and shady projects out there — so don’t skip your due diligence here. You have got to ask yourself: How safe is your digital asset and personal information on the platform? What security measures will the platform take in case of fraud?
Without further ado, here are the top NFT marketplaces in 2022.
Ever since OpenSea launched in 2017, the platform has processed over $10 billion worth of NFTs and has over 600,000 users!
And — it’s decentralized!
One more thing you need to know about OpenSea is that it deducts a 2.5% commission on each sale completed on its platform — this is separate from the blockchain fees deducted on each transaction!
Here, you will find that the team behind the project has put all the tools in place to navigate the NFT marketplace. The first thing you will notice is the unique design of the website which contributes to the aesthetics of the platform’s NFT catalog.
Much like how OpenSea operates, Rarible also runs a decentralized network. However, it has taken a step further by introducing a community-focused governance system anchored by an ERC20 token called RARI.
This governance system means that Rarible wants its community members to have voting power — they want to get rid of as much centralization as possible.
Other things that Rarible and OpenSea have in common are their decisions to incorporate a variety of NFT niches and the 2.5% fee deducted as commission.
Nifty Gateway places great emphasis on authenticity and creativity. Only verified digital artists are allowed to mint and list NFTs on Nifty Gateway — this means that the chances of buying fake digital art on the platform are low.
This centralized model also allows Nifty Gateway to enable fiat payment methods: Nifty has no crypto payment option at all right now.
Nifty also might be a bit more pricey — the commission imposed by Nifty Gateway is considerably high compared to decentralized options. The website also deducts a 15% commission before sales can be finalized.
What does this mean? SuperRare doesn’t have as much activity as OpenSea, that’s for sure — but what it lacks in volume, it makes up for it in exclusivity.
Regardless of the restrictions imposed on users, it may surprise you to know that SuperRare relies on a decentralized governance system powered by a token called $RARE. What this means is that participants do not only contribute to the vetting process of digital arts, but also have a say in other day-to-day operations, especially on how the project evolves over the years.
Like Nifty Gateway, the commission deducted on each trade is 10%. Also, all creators automatically receive a 10% fee as royalty when secondary sales of their NFTs take place.
The Ethereum-based network focuses on enabling easy-to-use services targeted at four major NFT categories, including art, videos, music and collectibles. Owing to the innovation-focused approach of Mintable, it comes as no surprise that it allows creators to enjoy gas-free minting services.
Mintable uses a decentralized governance system. While this in itself is not necessarily a new achievement in the NFT market, it is the way Mintable is going about it that deserves to be commended.
Unlike most decentralized NFT marketplaces, Mintable is anchoring its decentralized autonomous organization (DAO) with an ERC721 token.
Like most decentralized NFT marketplaces, Mintable’s commission starts from 2.5%.
NBA Top Shot
Top Shot is being marketed as a mainstream NFT marketplace, therefore it made sense that it allows buyers to purchase Moments with fiat.
Since it launched in 2019, Top Shot has emerged as a highly lucrative venture for NBA fans.