NFTs are one of the most popular topics of the crypto world right now. Everyone wants to either create a non-fungible token of their own, or be part of the hype and purchase some of these collectibles for themselves. However, in order to do either one of these two things, you’re going to need to find the best NFT marketplace!
There’s a pretty wide selection of different NFT markets available out there, on the internet. Some of them are very niche-specific, while others act as aggregators, and let you trade any and all types of NFTs on them.
In this article, we’ll mention the leaders in the space - marketplaces that have both earned a reputation of being reliable and trustworthy, and that are also great hubs to either find a very specific NFT that you’d like, or create one of your own.
Our list will look like so:
What Are NFT Marketplaces?
While it may seem rather self-explanatory, NFT marketplaces are a bit more complex than they’d appear at first glance. This is why, in order to understand why some of them are better than others, we should first discuss how they work, in the first place.
On the surface, an NFT marketplace is just a place where you can find different types of non-fungible tokens, and purchase the ones that you’d like. On the flip side, if you’re a seller (say, a digital creator who has a 3D art collection, or a musician with a fresh album drop), you could use the same marketplace to advertise and sell your creations.
This is, for a fact, true - buying, selling, and auctioning are among the main purposes of NFT markets. However, most of the high-tier ones serve another major purpose, as well - the creation of NFT collectibles.
What this means is that you do not need to go and visit some third-party platform in order to create your NFT, and then import it to one of the marketplaces. Instead, all you need is the digital file of your creation - a picture, a GIF, a drawing, and so on -, and you’re set!
Evidently, this is super-important as far as simplicity is concerned. NFT marketplaces with this functionality allow everyone and anyone to create and sell NFTs of their own. Meaning, you don’t need any prior knowledge in the field, or any technical proficiency with blockchain technology, for that matter.
Furthermore, security is another term that pops into one's mind when you think about the fact that all of the NFT-related processes can be performed on a single platform. Not having to juggle multiple platforms is a major win on the security side of things, and allows your crypto assets to remain intact within your wallet.
Well, assuming that you choose and use one of the best NFT marketplaces, that is.
The Best NFT Marketplaces for 2023 and Beyond
Now that we’re going to talk about the best NFT marketplaces, what do you think are the main points that one needs to pay attention to?
Naturally, at the top of that list, you should consider security and reliability. You probably wouldn’t want to create NFT collectibles on a shady marketplace that has all of the red flags covered, and then some.
Following that, you should obviously pay attention to the question of whether or not the platform allows you to create your NFTs on it, or if there’s only an importing option available. This is a major point to consider, especially if you’re new to NFTs, and plan to create some of your own.
Then, royalties. Most NFT marketplaces are going to have a royalty system in place. Meaning, when someone else re-sells your NFT, you will receive a certain percentage of the sale, even though you’re no longer the seller. The percentage itself tends to vary, though - some platforms offer 10%, others - up to 50%. Surely a point that’s important, and one that you’ll need to consider!
Lastly, you have NFT variety, and the actual general reputation of the marketplace itself. A large variety of different NFT types will allow you to have a wide selection pool, and perhaps find a very specific NFT that you might like. Fame-wise, obviously, the better-known an NFT marketplace is, the more information you’ll be able to find about it, and the more trustworthy it will appear, in general.