NFT Marketplaces

Non Fungible Tokens (NFT), three words that left the fine art, investing, banking, and tech sector with a lot of questions and not many answers.

Each sector had its own ways of using this opportunity to its advantage. The tech sector wanted to use the underlying technology to develop innovative solutions, and banking was simply happy with investing and enjoying the massive gains. Fine art enjoyed hefty commissions on the NFTs it auctioned.

But, there are still questions about NFT, whether it is just art or underlying technology.

NFT signifies ownership of an asset; you can turn art, voice recording, the written word, and even video games into an NFT. with so many different options it is very important to choose the right NFT marketplace when you move on to selling your work.

NFT marketplaces are backed with blockchain technologies like Binance, Ethereum. Because NFT could be created using only one of the following technology, not all marketplaces buy and sell all types of NFT.

SuperRare.co, OpenSea, NiftyGateway, Rarible, and Foundation are some of the most popular NFT marketplaces. Other specialized NFT marketplaces are coming up inside the metaverse or play-to-earn games like Kalao.io gallery or Axie marketplace, and sports federations also launch marketplaces like NBA Topshot marketplace the possibilities are endless

Top 5 Marketplaces

S.No

Marketplace

Commission

Royalties

Blockchain

NFT Format

1

OpenSea

2.5%

10%

ERC-721, ERC-1151

Digital art

2

Rarible

2.5%

20%

ERC-20

Digital art

3

NiftyGateway

5%

10%

ERC-721, ERC-1155

Music

4

SuperRare.co

15%

10%

ERC-821, ERC-1155

Digital art

5

Foundation

15%

10%

ERC-721, ERC-1155

Digital art

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