In this article, we have featured Best NFT Marketplace For Artists In 2022 The NFT (non-fungible token) is a one-of-a-kind digital ledger data unit that can only be acquired and held by one person or entity.
NFTs are used to represent digital data such as art, photographs, videos, movies, and music. NFTs also employ blockchain technology to establish verifiable and public evidence of ownership for easily replicated items such as these.
NFTs have been around for a long, but they didn’t become widely known until 2021. The NFT market has received a lot of attention as a result of record-breaking purchases, such as Christie’s $69 million auction of a Beeple painting, and I expect it to grow as the digital art scene gains traction.
Since then, the NFT line has persisted, with players paying hundreds of dollars for specific NFT artwork, such as that shown in Bored Apes, CryptoPunks, and Loot.
In contrast to other cryptos, which may be exchanged for another sort of cryptocurrency, an NFT crypto art token is a one-of-a-kind digital collectible that cannot be exchanged. They can only be traded for another NFT or sold outright.
What exactly is an NFT Marketplace?
An NFT Marketplace is a market for non-financial transactions. So far, everything is going well. But what exactly is an NFT?
NFT stands for “Non-Fungible Tokens.” Something that is fungible can be replaced. For example, one kilo of 24-carat gold is, in theory, interchangeable with any other kilo of 24 karat gold.
When something is non-fungible, it means it is unique and cannot be replaced by any other item on the market.
Although NFTs are conceptually comparable to cryptocurrencies, these digital assets may represent antiques and artworks, collectibles such as trading cards, and other commodities with distinct characteristics.
For authentication and validation, these tokens are cryptographically stored in a blockchain network. Even while transacting, each token is sold in its entirety, as opposed to cryptocurrencies, which are split into smaller parts.
NFTs lose value when divided into smaller pieces; nevertheless, the artist can reproduce them and sell each additional copy separately (but the total number of duplicates will then always be known).
Best NFT Marketplace For Artists In 2022
1. The OpenSea
OpenSea was founded in 2017 by Alex Atallah and Devin Finzer. With 113,000 members, 15.5 million NFTs, and a $354 million transaction volume, it is the first and largest marketplace for user-owned digital items. In this marketplace, users can purchase and sell blockchain-backed artifacts, art, music, domain domains, and trading cards.
The sleek and uncomplicated design of the OpenSea website makes navigation simple. OpenSea makes it easy for anybody to create and sell NFTs.
Every time a consumer purchases one of their items, the creators of NFT on OpenSea receive royalties. Users can also import items from Rarible and Mintable, two other NFT marketplaces.
Consider OpenSea to be the Amazon of NFT marketplaces. It truly does have everything. This is reinforced by the fact that it accepts over 150 cryptocurrency payment tokens. OpenSea is simple to use; you can create an account for free and begin minting, selling, and browsing in minutes.
Furthermore, thanks to cross-blockchain interoperability, OpenSea can now claim to be a gas-free NFT marketplace.
The Polygon cryptocurrency is now supported on the marketplace, which means you won’t have to pay fees while making trades. According to OpenSea, this implies that artists will be able to “truly earn their way into crypto for the first time.”
2. Nifty Gateway
Nifty Gateway is possibly the NFT marketplace with the most eye-catching high-dollar NFT sales. It’s where two of the most costly NFTs have been sold: Beeple’s CROSSROAD and Pak’s The Merge, both of which sold for US$91.8 million in December 2021 (the world’s most expensive NFT at the time of writing).
The site receives a lot of attention on Twitter and attracts celebrity NFTs. But don’t let that deter you. Nifty Gateway offers a few outstanding features.
For starters, it employs ‘open editions,’ in which an unlimited number of copies are manufactured for a limited time and sold for a basic price. Once the timer runs out, no more NFTs are issued.
This results in scarcity and a thriving secondary market. Second, Nifty allows collectors to acquire NFTs using Fiat (government-issued currency), which implies buyers can use credit cards rather than bitcoin. This makes it more appealing to first-time purchasers who are unfamiliar with cryptocurrency wallets.
The Rarible NFT marketplace is an all-in-one platform where non-fungible token creators, sellers, and buyers meet to conduct business.
For example, the website allows artists to create NFTs to sell or keep. Similarly, it lets buyers buy and hold on to or resell their tokens to make money.
The website deals in a wide range of tokens split into various categories. The categories are; art, photography, games, metaverses, music, domains, and DeFi, which is the shorthand for “decentralized finance.” Rarible does all of that at a reasonable fee.
In addition to Ethereum, Rarible makes use of the Flow and Tezos blockchains. You choose which token to use when you mint your NFT, and you can share search parameters with OpenSea.
The topic of which blockchain to use is intriguing. Ethereum is the most commonly utilized for NFT minting, although it has a huge carbon footprint and gas prices.
Tezos has modest gas expenses (about $0.50), however, it is intended for artists releasing collections. Flow employs ‘lazy minting,’ which means creators pay near-zero costs, and it’s a ‘proof-of-stake’ blockchain, which has a much lighter carbon footprint than Ethereum.
SuperRare, in contrast to Rarible, has a simpler and more basic layout. It is a cryptographic art platform that fosters the creation and collection of cryptographic works of art.
Its motto is “quality before quantity,” and it works directly with artists, requiring them to submit and approve their work before it can be featured on the site.
SuperRare necessitates the use of a suitable cryptocurrency wallet, such as MetaMask or Formatic. It only takes a few seconds to create a login and password linked to your digital wallet address, allowing you to browse the platform’s unique NFTs.
Different NFT Marketplaces offer their NFTs, the most recent bid, the remaining duration of an auction, and so on in a variety of ways. It is entirely up to you and no one else to determine what you are most comfortable watching and using.
The image below is a print screen from SuperRare’s browse section. There are numerous filters available in this section.
You can filter based on whether the NFT has a list price or a reserve price, if there are open offers, if it is still owned by the author, if the NFT is available on the secondary market, and more.
5. Axie Marketplace
Axie Marketplace is the online store for Axie Infinity, a video game. Axies are legendary animals that can be purchased, taught, and then challenged against the Axies of other players to receive rewards.
Axie Marketplace allows players to purchase new Axies, as well as entire territories and other items, as NFTs for usage in-game.
The Ethereum network is used to create Axie Infinity tokens (also known as Axie Shards). As a result, they can be purchased and sold on a number of different NFT marketplaces, as well as other cryptocurrency exchanges such as Coinbase Global (NASDAQ:COIN).
6. Larva Labs/CryptoPunks
Larva Labs is primarily known for the widely publicized CryptoPunks NFT project. They were initially distributed for free in 2017, however, some CryptoPunks have since sold for millions of dollars.
Larva Labs is also working on additional digital art projects, such as Autoglyphs, as well as Ethereum blockchain-based app development.
The CryptoPunks NFTs from Larva Labs are sold out, but they can be bid on and purchased on several third-party marketplaces.
Nonetheless, Larva Labs’ numerous initiatives are worth following, particularly the Meebits, which may be bid on straight via the company’s built-in marketplace.
Conclusion: Best NFT Marketplace For Artists In 2022
NFT marketplaces are your best bet for getting started with investing in digital assets, collectibles, and art, but there are plenty of other possibilities.
Choose one that meets your buying and storing needs based on the type of NFT you want and the crypto you want to use for transactions.
Also, keep in mind that this is a new and very speculative industry. Some NFTs may skyrocket in value, but this is no guarantee.
Digital art and collectibles have the same value as physical art and collectibles: The value of an item is subjective and determined by elements such as its uniqueness and the reputation of the artist who created it.
Consider your overall investment strategy, net worth, and investing time horizon before making any purchases.