An NFT marketplace can be defined as an online platform where you can discover, purchase, sell, and trade NFTs (non-fungible tokens). There exists an enormous number of NFT marketplaces spanning across a myriad of niches and reputations.
Recently, NFT marketplaces have gained popularity in the digital markets as they have the potential to gain traction and drive businesses to build their own marketplace even if the business is in its incipient stage.
NFT marketplaces can be of various kinds; they can be art-centric, general, music and entertainment, gaming, sports and collectibles, exclusive and curated, utility and service based, decentralized and community governed and they can go far from art to e-learning, real estate, investment projects, video games and more. An NFT marketplace can be decentralized or centralized with variations in terms of control, fees, and security.
Often the best NFT marketplaces are the ones with a user-friendly interface, advanced filter and search options, promotional tools, trading capabilities, customer support, user accounts, NFT wallet integration, prompt notifications, and ratings and reviews. Let us look at the list of the top 5 NFT marketplaces in 2024.
Top 5 NFT Marketplaces Of 2024
1️⃣ OpenSea
OpenSea is an original NFT marketplace founded in 2017 and is currently used by more than 600,000. This NFT marketplace holds more than 80 million NFTs and has some of the biggest NFT collections.
At OpenSea the majority of the users reach NFTs by collection. Some of the popular NFT collections in it are CryptoPunks, Bored Ape Yacht Club, and Meebits. If you’re exploring the NFFTs at OpenSea remember to search them by categories.
The categories you can look out for are general, art-specific, games, sports and collectibles, music, trading cards, and sports.
A unique feature that helps OpenSea to stand out from others is its lazy minting feature which streamlines the process of the NFT creation.
Thus NFT marketplace has 2.5% brokerage fees. Despite the high fees, the reason for many users flocking towards this marketplace is the extensive collection it olds and the user-friendly interface. Most of the listings are in Ethereum, however, you can also find Polygon and Klaytn listings.
2️⃣ Nifty Gateway
Nifty Gateway is one of the top 5 NFT marketplaces in 2024. The platform is known for hosting exclusive artists. It is also popular for allowing to use of fiat currency to purchase NFTs. Nifty Gateway was recently acquired by Gemini, a fully reserved cryptocurrency exchange and a highly regulated custodian.
An advantage of using Nifty Gateway is that you can get send NFTs with zero gas fees. It is popular for multiple exclusive and limited drops and collabs. This top NFT marketplace has a simplified NFT buying process and the compatibility with traditional currency caters to a wide group of users.
Nifty Gateway payments are Gemini integrated. Other options include debit cards, credit cards, and a prepaid Ethereum balance. So far, it has sold NFTs by Beeple, Sam Spratt, Pak, XCOPY, Refik Anadol, Skyglobe, and many other renowned NFT artists.
3️⃣ Rarible
Rarible is a noted NFT marketplace primarily focusing on linking sellers with buyers where the latter can choose the NFT pieces that they want to buy. It works based on the Rarible protocol which is community-governed and an open source multi-chain protocol.
Rarible has around 1.6 million users and has made deals worth $274 million worth of NFTs. so far, 405,000 new NFTs have been created using this platform.
Creators in this platform need to mint a token using the Rarble software if they wish to turn their work into an NFT. the various types of FTs that you can find at Raible are cost NFTs, rare NFTs, adult-themed NFTs, and expensive NFTs. Rarible prioritizes artwork specifically NFTs, although you can find others as well such as music and entertainment.
This platform charges a transaction fee of 1% from the buyer as well as the seller. Rarible is compatible with Ethereum, Flow, and Tezos blockchain wallets.
4️⃣ Binance NFT
Binance NFT is where you can find the lattes premium NFTs and Mystery Boxes from creators all over the world. It’s built on the Binance Smart Cahin and is rich with an array of art-specific NFTs plus collectibles.
You can also find NFTs in categories such as gaming, sports, esports, entertainment, and much more. Binance NFT is part of the world’s largest cryptocurrency exchange Binance. The mystery box at the platform is known as you have no idea what you get until you get the box.
It is known for letting collectors buy limited edition NFTs from iconic artists and creators and lets sellers sell the same.
Binance NFT is known for its emphasis on making the platform affordable for collectors and creators alike. You can see the NFTs listed in Binance Coin (BNB), Ethereum, and Binance Dollar (BUSD).
5️⃣ SuperRare
SuperRare NFT marketplace is known for curated crypto art. It sells top-quality artwork from well-received artists. The quality of the artwork at this marketplace is always praised and they closely resemble the gallery quality.
The high quality of the artwork is reflected in the listed prices too and the starting range is around $600 and it goes as high as millions.
SuperRare exclusively operates on Ethereum and you need to have an Ethereum wallet to sign deals here. The fees are a bit high in comparison to the other NFT marketplaces with a 3% fee that will be charged from the buyer. SuperRare has a cryptocurrency, its own native token namely the RARE token.
