NFT marketplaces are new for many of you and you do not know it fully but are interested in it and hear about it on the internet. To understand the NFT and the NFT marketplaces keep all your focus here till the end of the post.
Firstly, NFT full form is a Non-Fungible Token and it is based on the BlockChain Network. NFT can be anything like music, video, tweet, art, collectables etc. It is the digital unique token or id for art or something else you created. You can use Cryptocurrencies like Ethereum, Bitcoin, Binance etc. to buy and sell NFT.
There are various marketplaces for NFT and I share with you a few of them which may be best for you.
NFT Marketplaces
Binance
It is a dynamic platform with innovative creators. You can see a lot of digital art here. You can access the Binance marketplace through its app.
To access the Binance marketplace you need a Binance account and payments on Binance is a lot easier with the use of Binance Pay.
If you are the creator of the Binance Marketplace then you get 1% royalty each time when your NFT is sold. To sell your own NFT you have to mint it first on Binance. There is an option on the platform to fix the price of an NFT and then list it.
To get the deeper inside you should go to the website and read every detail of it, do not believe somebody else’s view.
Binance is the cryptocurrency exchange founded in 2017 and Binance marketplace is launched in June 2021.
OpenSea
OpenSea is the largest NFT marketplace for digital goods. With inspiration from crypto kitties, Davin Finzar and Alex Attalah launched OpenSea Beta in December 2021.
You need a crypto wallet or gateway to blockchain platforms. OpenSea works on Ethereum and Polygon blockchain. Basically in Etherum blockchain, you have to pay a gas fee to mint your NFT but Polygon is totally free.
There is a maximum of 10% royalty on an NFT you created each time when NFT is resold.
Nifty Gateway
It is a digital art auction platform for NFTs. Nifty Gateway is the marketplace for music and artwork. Most of the details of the NFT marketplaces is the same.
Duncan and Griffin Cock Foster founded the Nifty Gateway which is later acquired by Winklevoss Twins. It is founded in 2018.
Many peoples account on Nifty Gateway was hacked because they didn’t use 2FA. After the acquisition, Winklevoss Twins launched Nifty Gateway 2.0 with more features.
Rarible
Rarible is a multichain NFT marketplace with the integration of Ethereum, Flow and Tezos. It is on a mission with Nori to remove Carbon footprint and environmental sustainability.
The Rariable makes money by charging 2.5% for each sale. It works on the Ethereum blockchain, all transactions on this blockchain are irreversible and tamper-proof and make it safe.
Mintable
It is a platform for NFTs built on the Ethereum blockchain. Ethereum blockchain provides you with the smart contracts and mintable is the collection of smart contracts,
You can easily convert your images, videos, music, drawings, a form of a work etc. into an NFT based on Mintable.
There is a lot of NFTs now but I do not understand the concept that why people are spending money on a photo or art which is just simple. Some people are definitely following the trend and trying to make money through it.
It is your choice whether you want to buy an NFT or create one. If you will create then It should be unique and attractive so that It can easily be sold as NFT.
As you can see above that every platform is Ethereum blockchain thus you can see this as a point to check that it is based on which blockchain. I personally recommend you the Ethereum blockchain because I use it and it is mostly used in the NFT marketplace.
Note: I do not recommend you to trade or not promote any marketplace. It is just information which I found useful.
How to create and sell NFT on OpenSea?
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