NFTs are booming and there’s a lot of money to be made in this niche. There are multiple marketplaces where you can buy and sell NFTs. As of writing, these are the 4 best NFT marketplaces bar none.
Foundation #
Foundation is an Ethereum-based NFT marketplace focused on providing tools for the new creative economy. It is an economy in which creators distribute content directly to supporters in a peer-to-peer environment without intermediaries.
Foundation is an incredible NFT marketplace because of its simplicity. A simple NFT auction mechanism is used to sell all artwork on the platform. Here’s how it works:
- As an FND ERC-721 token, the creator mints an NFT on Foundation.
- A minimum reserve price is set by the creator for the NFT
- A collector bids on the NFT at the minimum amount
- After the first bid, an auction lasts 24 hours
- The highest bidder wins after 24 hours
The platform’s user interface is also exceptionally clean, in addition to the simple auction process Foundation uses to sell NFTs. There is a straightforward succession of NFT auctions, featured artworks, and artists’ collections on the landing page.
Foundation Collections are noteworthy because they let artists create limited edition series similar to CryptoPunks’ 10,000-edition format. One of the platform’s most successful Collections to date is World of Women, a series of profile pictures intended to diversify the NFT community.
NFT Collections, despite the success of WoW, seem to be at their best when focusing on highly unique 1 of 1 artwork, like Jen Stark’s Cosmos series.
Who is Foundation For? #
Fundation specializes in artworks you won’t find anywhere else. If you are interested in singular NFTs, Foundation is a better fit than gaming marketplaces, like Rarible.
NFT Foundation auctions can only be bid on with Ethereum (ETH). Platform developers are working on enabling other payment methods, such as stablecoins. Foundation’s ETH-only payment option makes it more suited for crypto enthusiasts, but its beginner-friendly UI helps first-time NFT buyers.
It is not just anyone who can jump onto Foundation to mint and sell NFTs; it is invite-only. To get a Foundation invite, you must be invited by another creator who is already using the platform.
Are there current Foundation creators you do not know? It’s okay, there’s a lot of generosity among Foundation members. For sharing your creations and connecting with other artists, join the Foundation Discord channel.
There is a possibility that someone might like your work enough to invite you.
SuperRare #
SuperRare is the Sotheby’s of the NFT world. You immediately feel part of a curated crowd as soon as you enter the platform, even if you’re just window shopping.
In contrast to Foundation, SuperRare handpicks artists and onboards them to the platform. Because of this, SuperRare NFT auctions tend to settle for higher amounts than other platforms. They focus on quality mints over quantity when vetting and selecting artists.
In order to participate in a SuperRare NFT auction, you must follow a few simple steps, which are familiar to most people.
- Connect your Web3 wallet to SuperRare (MetaMaskis recommended).
- Make sure your bid meets the artist’s reserve price after choosing an NFT.
- Timed auctions are sometimes used instead of reserves in auctions.
- After 24 hours, the highest bidder wins.
Also available to creators and collectors is an offers feature that doesn’t lock you into an auction. You can accept offers from anyone. The point is that there’s a perpetual secondary market available on SuperRare, and it’s entirely up to you whether you wish to pursue it or not.
SuperRare is home to some of the world’s top-selling NFT artists. On the platform, Sarah Zucker’s analog remixes of vintage videos are a perennial favorite. On SuperRare you can also find avant-garde NFT art in the form of AI-generated paintings, such as Robbie Barrat’s AI Generated Nude Portrait series.
Who is SuperRare for? #
NFT platform SuperRare offers collectors a curated experience with artworks by highly vetted artists. You need an ETH-funded MetaMask wallet to start collecting.
Even though SuperRare pieces tend to cost more than similar works on other platforms, the clout of many SuperRare artists adds significant value to the platform. Thus, SuperRare is like Sotheby’s or Christie’s for crypto natives.
Selling NFTs on SuperRare #
SuperRare invites can be obtained in a couple of ways. You’ll either be hand-selected and contacted by the SuperRare team with an invitation – or you can apply directly to the platform.
You should have a portfolio of your work ready if you decide to apply. Additionally, if you’ve already minted NFTs elsewhere, know that SuperRare emphasizes scarcity (i.e., you’ve minted relatively few NFTs).
Hic et Nunc #
Hic et Nunc (or HEN for short) is perhaps the most exciting NFT marketplace today. HEN is a decentralized marketplace that works with IPFS. Even more surprising, Hic et Nunc runs on Tezos instead of Ethereum.
The HEN blockchain is built on Tezos, a proof-of-stake blockchain, so minting and collecting NFTs there is exceptionally cheap. The transaction fees are so low, they border on being free, and the service is fast. In contrast to purchasing NFTs on Ethereum, the HEN experience feels lively, affordable, and seamless.
A major perk of HEN is that anyone can mint NFTs there. Since Hic et Nunc does not require any curation, filtration, or selection, all you need are a few XTZ tokens. In addition, XTZ tokens are far less expensive than ETH, making HEN more accessible to a broader range of creators and collectors.
You probably haven’t used Tezos before if you don’t already use HEN. Therefore, you will need to set up a Tezos wallet. Temple Wallet is a great Tezos wallet that works similar to MetaMask.
You are now ready to mint or collect NFTs on Hic et Nunc once your Temple Wallet is running and funded with XTZ tokens. HEN refers to XTZ tokens as complexions.
- Find an artist’s work that speaks to you by browsing their works.
- Click the work and look for the collect for X complexion button.
- You will be able to sign the transaction once you click the collect for button.
- View your NFT after the blockchain has updated.
By comparison with collecting NFTs on Ethereum-based platforms, HEN feels almost too simple, which adds joy to the experience of supporting artists. There are plenty of famous NFT creators jumping on Hic et Nunc, like Joanie LeMercier.
You’ll find a wider range of creators on HEN thanks to its ease of entry. You can find artists from Latin America, Africa, and Asia on the platform, making it a great place to find new and exciting artwork you won’t find anywhere else.
Who is Hic et Nunc for? #
Compared to other platforms like Foundation and SuperRare, Hic et Nunc NFTs tend to be less formal and more experimental. Further, creators who work across NFT platforms tend to use HEN as a proving ground for new ideas.
Hic et Nunc is for anyone who enjoys discovering under-the-radar NFTs with big potential. HEN, however, can sometimes seem like a sprawling unsorted record store if you’re not willing to dig.
OpenSea #
OpenSea is the elephant in the room when it comes to NFTs. OpenSea is the world’s largest NFT marketplace (and it isn’t even close to being beaten).
In 2021, OpenSea is often posts over $1 billion in monthly NFT trading volume. That metric highlights OpenSea’s dominance. As a comparison, SuperRare sells $26 million in monthly sales at its all-time high.
OpenSea’s success has a lot to do with positioning at the right time and in the right place. It launched in 2017 – long before anyone had heard of NFTs – and has attracted major investors along the way. This has helped OpenSea develop a platform with a wide range of digital items, from fine art to gaming skins.
Secondary market sales are what really propel OpenSea’s growth. Any Ethereum wallet can be used to list NFTs for sale. In addition, anyone can make an offer on an NFT regardless of its status.
Similar to how internet users default to Google, NFT collectors use OpenSea for NFTs. The NFT world portal aggregates NFTs from all Ethereum-based platforms and makes them easy to search through.
What you can do on OpenSea #
The NFT world can be accessed quite a bit with OpenSea.
- NFT projects in mint
- To sell NFTs, list them here
- NFTs – bid & offer
- Find out about NFT
- Collections search
In addition to in-game items, digital collectibles, utility NFTs, and profile pictures, the OpenSea marketplace supports multiple NFT types. OpenSea makes it easy for creators to mint an extensive collection of unique digital items.
Who is OpenSea is for? #
I reiterate that OpenSea is Google for NFTs. When you use Ethereum primarily for NFTs, this is your dashboard. Don’t let that deter you if you’re mostly using Solana, Tezos, or another blockchain for NFTs. They will all eventually be supported by OpenSea.
Check the OpenSea NFT rankings page to find top projects. Essentially, OpenSea is an indispensable part of the NFT ecosystem.
Conclusion #
NFTs are gaining popularity faster than any other metric. New and unexpected ways in which traditional and crypto worlds are interacting with NFTs are announced every day.
While this guide has outlined the best NFT marketplaces currently available, there will be many new competitors in the near future. The rapid evolution of this industry makes a reshuffling of the best NFT platforms inevitable.
A few rivals we are keeping track of as well:
Finally, as a parting pro tip, NFTs on Solana, Tezos, and Polkadot may soon become as popular as those on Ethereum. It might be wise for creators and collectors to prepare for a multi-chain future.
