The Best NFT Marketplaces 2022: What to Look For
If you read our blog regularly, you’re probably starting to get an idea of what NFTs are and how they work. The next logical question is: what’s the best NFT marketplace to trade these things on? As with any new trend, it can be tough to get your head around what to look for or trust, but we’ll guide you through the process.
At some point in 2021, most of us found ourselves making a Google search along the lines of, “what are NFTs?” and trying to understand the results. But now you’ve figured out this much—maybe you’ve even started to create or invest in NFTs—it’s time to focus your attention on finding the best NFT marketplace so you can really get involved.
Now NFTs have gained some serious traction, specialisms are emerging, and the marketplaces out there reflect that, offering everything from gaming NFTs to NFT photography. Ultimately, the perfect platform for you will depend on which specialisms interest you and how you want to get involved. But fear not—we’ll cover all bases.
Introducing NFT marketplaces
Just like we head to cryptocurrency exchanges to trade cryptocurrencies or to Amazon to buy just about anything, some of the best NFT marketplaces exist for us to trade the tokens. NFTs are no longer an emerging trend, and they’re certainly not a fad—their trading volume was $13 billion in 2021. This is serious business.
All that demand requires solid infrastructure, and many developers have risen to the challenge. NFT marketplaces don’t just use the blockchain to ensure that NFTs are traded fairly (e.g., that an NFT being sold is indeed the original product and not a copy).
Some platforms allow users to create their own NFTs (known as minting) by uploading their files to the platform and listing them for sale. Others enable traders to share royalties of each sale with an NFT’s original creator.
What to look for
But how do you figure out which NFT marketplace is best? That’s mostly going to come down to what you want to use a marketplace for. Some platforms are known as gaming NFT marketplaces, while others specialize in areas like art. Then there are the generalist platforms, which do a bit of everything.
If you’re interested in features like creating NFTs or sharing royalties, this is another factor to consider.
However, perhaps the most important consideration is knowing the platform you’re using is legitimate and secure. Fortunately, we’ve done the vetting for you—the marketplaces we’ve listed below are all reputable places to trade your NFTs.
The best NFT marketplaces
Now you know the basics, it’s time to answer the question at the forefront of everyone’s mind: which NFT marketplace is best? As we’ve said already, the right choice will be different for everyone—and in some cases, you might even want to use multiple marketplaces.
But the five mentioned below are all strong contenders.
As far as major NFT marketplaces go, OpenSea is up there. It brands itself as being the very first marketplace in the space—and given that it launched back in 2018 (who had even heard of NFTs in 2018?), that’s probably a fair claim. Since then, it’s partnered with major brands like Coca Cola.
Unlike some of the other entries on this list, OpenSea has many different types of NFTs on offer, including art, trading cards, and music. It’s also easy to create your own NFTs straight from the platform, ready to sell on.
This is another big name in the NFT space, and many enthusiasts find themselves having the Rarible vs Opensea debate. Rarible has been around since 2020, and the two platforms are often compared since they’re both generalist marketplaces that offer a few NFT categories. Plus, like OpenSea, Rarible allows users to mint NFTs straight from the platform.
However, one thing that makes Rarible a little different is its native token, RARI, which users must hold to trade NFTs on Rarible. Holding RARI also allows users to vote on the protocol and curate content.
If you’re a fan of the videogame Axie Infinity and looking for a gaming NFT marketplace to buy relevant items, there’s a clear winner: Axie Marketplace. Its principal function is a storefront offering in-game items for Axie—an ambitious project with its own token, Axis Infinity Shard (AXS).
NFTs are incorporated throughout the game, where they’re known as Axies and used as tradable collectibles. Players need to own three Axies to initiate battles, but they can also buy and sell them on the marketplace to make money.
It’s an interesting model, but we’re likely to see more of this type of thing in the future.
There might not yet be the best NFT marketplace for everything, but there is one specializing in a selection of video clips from basketball games and associated art available to buy in the form of NFTs. It’s called NBA Top Shot Marketplace, and everything available is officially licensed by either the NBA or the WNBA.
But it’s not just about novelty value—NBA Top Shot Marketplace is a great platform in its own right. For instance, it offers fantastic analytics about items—you can see detailed statistics related to ownership history, market activity, and more.
However, bear in mind that it’s a closed marketplace, meaning the items sold are available on NBA Top Short Marketplace and nowhere else.
Even if you haven’t heard of Nifty Gateway itself, there’s a good chance you might be familiar with one of the famous projects it’s helped to fuel. A $6.6 million sale of a piece of Beeple artwork took place on Nifty Gateway, and it’s also where musical artist Grimes (one of the early advocates for the new technology) sold her NFTs.
What makes Nifty Gateway so special? For one, it’s a platform with a curated NFT collection of art, meaning that the Nifty team handpicks the art it will sell—it’s therefore a good choice for serious investors. It’s also built by Gemini, the leading cryptocurrency exchange.
Earn NFTs with MyConstant
While you decide which NFT marketplace is best for your purposes, we’ll leave you with a way to get hold of your first tokens without even having to do any trading. That’s right—free NFTs.
But that’s not all. We also have a range of cryptocurrency and USD products that help you take your crypto further and earn interest on crypto up to 7% APR, or you can deposit your crypto in our multi-cryptocurrency wallet (and even earn interest on stablecoins).
Other benefits of our platform include:
- 24/7 customer service.
- Rates as low as 6%.
- Early repayments for lower rates.
- Instant matching.
- Store and borrow against over 70+ different cryptocurrencies.
Sound interesting? Sign up for a new platform today.
Share this article