28 November 2022
NFTs are on their way to becoming a bandwagon craze in the Investment And Digital Art worlds. And why not? They are rare, unique, private, autonomous, easy to use, and have lower transaction costs. Moreover, NFTs empower content creators in this digital era. They introduce artwork from stencils and paper to the ever-amusing digital world.
NFTs, or Non-fungible tokens, are based on Blockchain Technology. They are a one-of-a-kind collectible digital asset that guarantees the authenticity and ownership of the artwork. It could be anything from music, artwork, digital cards, videos, GIFs, to tweets. Many celebrities and brands are participating in the NFT space, including Grimes, William Shatner, UFC, Paris Hilton, Shawn Mendez, etc. The artist Beeple hit the headlines when he sold the NFT for $69 million. In addition, the NFT sales have surged by 55% since 2020, from about $250 million to $389 million.
One thing is evident: NFTs have the potential to be the next big thing. So if you have already created digital artwork and are looking for a platform to sell it, you’ve come to the right place!
In this blog, we have listed 5 Best NFT Marketplaces To Sell
The Foundation was launched in February 2021 and aspires to build a new creative economy for creators, artists, and collectors. It is a community-curated platform where digital expressions are valued in new ways using the Ethereum Blockchain. The platform also helps creators to build connections with their audience. In August 2020, their first blog on the website announced an open call for creators to experiment with Cryptocurrency and explore the concept of value. They invited creators to “hack, subvert, and manipulate the value of creative work.”
Foundation has hosted viral internet memes such as the Nyan Cat, which was sold for $590,000, and Pak’s Finite record, which is now worth $809,780. They have also hosted various popular creators, such as Pussy Cat’s Nadya Tolokonnikova, Edward Snowden, Kim Laughton, Dom Hofmann, and the Aphex Twin. The work of the creators is arranged in the pattern of grid cards, with trending auctions at the top of the page, followed by featured artists.
To join the marketplace, you need to be invited by members of the community. Once invited the creator needs to fund their MetaMask wallet with ETH before creating an artist profile.. The minting of the NFT involves uploading PNG, JPG, or video files to IPFS, a decentralized P2P storage system. It will thereafter be an NFT that is valued at ETH and auctioned. Creators receive 85% of the final sale price, whereas if the piece is resold, a 10% royalty is given to the wallet that first minted the NFT.
Also Read, Everything You Need To Know About NFT
2. Nifty Gateway
Nifty Gateway is one of the premiere NFT marketplaces owned by Gemini, a popular Crypto exchange. The platform is a landmark for several million dollars of NFT sales and auctions. It is a centralized USD-based marketplace to buy and sell Nifties, and it is known for its limited-edition NFTs. Their mission is to make “Nifites” accessible to everyone.
The platform collaborates with top artists, brands, creators, and athletes to bring ultra-exclusive works, such as the limited edition and high-quality Nifties collections. It hit the mainstream when Beeple sold CROSSROAD for $6.6 million. They have partnered with renowned artists like Michael Kagan, Lyle Owerko, and Cris Cyborg. They’ve also featured artworks of well-known artists such as Cey Adams, Trevor Jones, Kenny Scharf, and Jon Burgerman on their platform. Nifty is also famous for its purchases of Crypto games such as Gods Unchained and Crypto Kitties.
Nifty strives to drop a new collection every three weeks. Their collection is open and available for a specific and limited time. Once the collection’s initial drop is sold out or has expired, one will only be able to buy Nifties from the collection in the marketplace.
It was the first medium to allow for a percentage of secondary marketplaces to be received. So when your work is sold or bought on Nifty Gateway, you get a share of the sale. And as an artist, you get to decide what percentage you want, which could be 5% of every secondary sale or even 50%. At the same time, Nifty takes 5% + 30 cents on every secondary sale inorder to cover the credit card processing fees and their site’s operations.
OpenSea is the world’s first and one of the largest NFT marketplace. Many celebrities, such as Mark Cuban, Chamath Palihapitiya, and Logan Paul, have expressed their interest in OpenSea. The platform categorizes the browsing option through art, music, domain names, collectibles, trading cards, sports, all NFTs, and so forth. In addition, they have showcased over 700 projects, including popular projects like ENS names, Crypto Kitties, Axies, and Decentraland.
OpenSea helps sell NFTs the way you wish to sell. The platform offers low fees, configurable auctions, custom currency selling options, gas-free transactions, bundling NFTs up to 30 items, security, and many more.
To sell your digital artwork on OpenSea, you would need to set up and connect your wallet to the platform, create your collection, you can even add social links, description, profile, and banner images. Thereafter you would need to then set a secondary sales fee, add and upload your NFTs with custom options, and tada list them for either sale, fixed or declining price listings.
Rarible is a community-driven NFT marketplace. It uses ERC-20 RARI tokens as its “ownership” to activate the platform users. The platform is best known as an art-based NFT marketplace and has a large volume of pieces. The platform distributes 75,000 RARI every week to rewards active users. Rarible also categorizes NFTs into art, games, metaverses, photography, domain memes, music, and so forth.
Rarible enables creators to "mine" fresh NFTs in order to sell their works. The creator can even reveal a sneak peek of their creation to everyone who visits Rarible, but only the purchaser will get access to the entire project. NFTs hosted by Rarible are also cross-listed on OpenSea for more exposure.
SuperRare is a peer-to-peer NFT marketplace for selling and buying single-edition digital artwork. It is an elite site with a touch of online magazines due to its features like an active social feed, an editorial page with profiles and artist statements, and a calendar for upcoming exhibitions.
The site is well-trafficked and home to a curated collection of artists and brands, including top sellers such as the Time Magazine cover sold for $300,000. According to the platform’s market stats, the artists earned $46 million, $24 million in secondary sales, and 7,236% of the average sale value. SuperRrae has also been featured in The New York Times, Vice, Forbes, and Fortune.
The platform is authenticated by the Ethereum Blockchain wherein Ether is used in all transactions. Each art piece on SuperRare is a unique digital collectible that is encrypted and monitored by Cryptography on the Blockchain. On top of the marketplace, SuperRare has built a social network. Digital collectibles are ideal for a social setting since they have a transparent record of ownership.
At present, SuperRare works with hand-picked artists. However, you can also submit a form for your artist’s profile to be considered for their upcoming launch.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.