In this article on Naijaknowhow, I’ll be writing on some of the best NFT marketplace websites that you can use to buy and sell NFT art. The full meaning of NFT is Non-Fungible Token. Fungible simply means replaceable, interchangeable, or exchangeable. While a Token refers to a substance, symbol, or material. Therefore we can say that an NFT is an uninterchangeable material or substance.
An NFT is a unit of data, stored on a type of digital ledger called a blockchain, which can be sold and traded. NFTs are digital assets such as images, arts, music, and sports highlights, which may come with licensing rights to use the assets for a specified purpose. These NFTs are traded and sold on digital markets. NFT trading usually results in an informal exchange of ownership over the asset, and unlike cryptocurrencies such as Bitcoin and Ethereum, they cannot be replaced or exchanged for other NFTs. You can only either buy or sell an NFT.
There are many digital markets where you can buy or sell NFTs. These digital markets are called NFT marketplaces. These NFT marketplaces are websites. So in full, you can call them NFT marketplace websites. So back to the purpose of this article, I’ll be giving you a list of some of the best NFT marketplace websites that you can use to buy and sell NFTs.
List of the Best NFT Marketplace Websites to Buy and Sell NFTs
1. Rarible — www.rarible.com
Rarible is an NFT marketplace website where you can sell single works of art as well as collections. It hosts NFTS from a wide range of categories. It also has its own cryptocurrency which is called RARI.
The website is non-exclusive, meaning anyone can mint and sell NFT art on it. Sellers and buyers have to each pay 2.5% of the sale price of any NFT to the website, which makes it a 5% total transaction fee. However, the seller can decide to pay the whole transaction fee so as to make his NFT more appealing to the buyer. When you list an NFT on Rarible, it is automatically added to OpenSea, another NFT marketplace.
2. OpenSea — www.opensea.io
This is the largest and most well-established NFT marketplace website on the Ethereum website. It features a broad range of NFT categories, from art to collectables, virtual lands, and domain names. It is an easy-to-use and non-exclusive platform. You can mint your NFT without any review process and start selling immediately.
The only downside of OpenSea is the gas fees. It means that on your first time selling an NFT on the platform, you’ll have to pay two types of transaction fees. The first fee is to initialize your account to enable sale orders and to allow OpenSea to access your NFT item. The second fee is only feasible when you mint your NFT through a smart contract other than the OpenSea platform.
But the good news is that after paying all these fees, you as a seller won’t have to pay any other minting fee, which means that you can mint and list as many NFTs as you like without paying again. As a seller, you have access to three listing options, which are the fixed price, declining listing price, and auctions. If your NFT sells at a fixed price, the buyer will pay the gas fee, while if you sell it at a price away from the fixed price, you as the seller will the gas fee. Find out the best OpenSea alternatives to buy and sell NFTs.
3. Nifty Gateway — www.niftygateway.com
This NFT marketplace website hosts Ethereum-based NFTs, but it is very exclusive as it works with famous artists. So you must be a famous artist or celebrity to get accepted for its curated collections. However, there are also verified drops that still require an approval process but are less strict.
Nifty Gateway places a 5% commission fee for each sale. Also, artists can place and demand their own royalties for secondary sales.
4. SuperRare — www.superrare.com
This platform is another exclusive NFT marketplace as it only works with a small number of selected artists. Only 1% of artists’ applications are approved. The platform specializes in rare and high-quality single-edition art NFTs. It charges a 15% commission fee for each sale, but buyers pay the transaction fee which is 3% of the sale price.
5. Mintable — www.mintable.app
Mintable functions in a similar fashion to Rarible and OpenSea. It’s a non-exclusive platform as you don’t have to go through an approval process.
The platform supports standard Ethereum but is also integrated with Immutable X, allowing for gas-free minting, which means that it’s thoroughly free for sellers to mint their NFTs. But the only downside of Mintable is that in relation to other NFT marketplaces, there is a low amount of activity, meaning there’s a high probability of experiencing unprofitable merchandizing.
6. Foundation — www.foundation.app
Foundation is an invite-only NFT marketplace website, which means you can only be active in it when you are invited by an already established creator on the platform.
One good thing about the platform is that your NFTs can be sold on other platforms such as Rarible and OpenSea. Also, you’ll receive a 10% royalty for each secondary sale you achieve. However, the platform charges a 15% commission for each sale. The downside of engaging with Foundation is that it is not as popular as other NFT marketplaces.
7. Origin Story — www.story.xyz
We can call Origin Story an all-in-one NFT marketplace as NFT listings are imported from all leading marketplaces into it. The platform is in partnership with a host of top collections such as Karafuru, Pudgy Penguins, Moonrunners, 0N1 Force, etc.
In Origin Story, there is no place for NFT fraud as only official NFTs from a collection are listed. There’s also seasonal staking where rewards are distributed to stakers at the end of each season.
8. MakersPlace — www.makersplace.com
MakersPlace offers a platform for digital artists, like painters, authors, and photographers who want to share their work with others. This non-financial-transactions platform connects creative artists with opportunities to showcase their work in a professional environment.
Furthermore, the platform offers a service called “escrow” to help protect transactions, and it allows users to accept credit card payments for sales of their work.
It distributes new digital artwork through drops, which are scheduled at specific times, much like the Nifty Gateway platform. MakersPlace also charges a 15 per cent fee on all purchases made using an Ethereum wallet to support the creation of new products.
9. KnownOrigin — www.knownorigin.io
KnownOrigin is a website where people who love NFTs can go to see and buy unique and real art pieces. It is like a fancy art gallery, just online. They use something called IPFS to save the art, which helps to protect it. This makes it easier for artists to sell their work without worrying about scams.
To sell art on KnownOrigin, an artist needs to apply and be approved. This helps to make sure that the art on the site is real and special. KnownOrigin is different from other NFT websites because they only have real art and not weird avatars or cute animals.
The KnownOrigin website is easy to use. If you want to buy something, you just need to connect your digital wallets, like MetaMask or Formatic. Then, you can start bidding on the art you like.
10. Binance NFT — www.binance.com/en/nft
Binance NFT is another website where you can buy and sell Non-Fungible Tokens. Binance NFT is a part of Binance, which is a big website where people trade different cryptocurrencies.
Binance NFT uses something called the Ethereum blockchain to make sure that everything is safe and secure. Binance NFT has many interesting things to buy and also works with other companies to offer special deals.
If you have a Binance account, you can use it to start buying and selling things on Binance NFT right away. It’s really easy to start bidding on things you like once you’ve signed up. You can pay for things using different cryptocurrencies like ETH, BNB, or BUSD, depending on what the seller wants.
11. Solanart — www.solanart.io
Solanart is an online marketplace that is distinguished from others in that it is the first marketplace dedicated solely to non-financial transactions on the Solana blockchain. It enables users to discover, buy and sell unique digital assets known as non-fungible tokens (NFTs) from a diverse range of collections.
Unlike other similar platforms such as OpenSea, Solanart features a carefully curated collection of NFTs, with only a limited number of these tokens available for purchase on the site. This means that every NFT listed on Solanart has been selected for its quality, rarity, and uniqueness, making it a highly desirable marketplace for collectors and creators.
Solanart operates on the Ethereum blockchain technology, a decentralized platform that allows for the creation and exchange of digital assets. Due to its unique offerings, Solanart has gained significant recognition and popularity among its users, especially for the artistic collections available on the site.
Conclusion
So if you are looking for the best NFT marketplace websites, I’ve given you some of them. If you can be diligent, I bet you that you will be highly rewarded as you engage with them. As they say, “Opportunities come to those who seek them”. I have compiled a list of articles that could be useful for you: Best Websites to Sell Your Digital Skills Online, Best Websites to Buy Car and Pay Later in Nigeria and Best Websites to Learn Adobe Photoshop.
