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Largest NFT Marketplace Options in 2023

Pink Image of Person Making an NFT with Marketplace Icon overlayed
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Are you desirous of joining the non-fungible token (NFT) revolution and looking for the largest NFT marketplace fit for your design or artwork? Don’t worry; we’ve got your back.

Whether you’re an artist, designer, or creative, there’s an opportunity in NFT space waiting to be exploited – if you play your cards right.

According to an October 2021 Bloomberg report, CryptoPunk #9998 is the most expensive NFT ever sold at $532 million.

There are many other success stories. However, your financial success story as an NFT creator begins and ends with exploring different NFT marketplaces and selecting one that fits your NFT.

Choosing the largest NFT marketplace

NFT marketplaces, often referred to as the eBays and Amazons of the digital world, are gateways for anyone interested in buying or selling the latest digital assets, from music to works of art or digital land. Just like traditional markets, there are dozens from which to choose. Since you need one that caters to your specific niche, we have compiled a list of largest NFT marketplace options to help you decide.

OpenSea

The popular OpenSea is the largest NFT marketplace.

Founded in 2017, it currently supports ETH, $MATIC, and Klatyn blockchain. OpenSea features all categories of NFTs, including digital art, utility, collectibles, music, sports, and virtual worlds. Users can trade leading NFT projects like Decentraland and CryptoPunks. The platform's mining tool is its most fantastic selling point, enabling content illustrators and creators to develop and create their own NFT collections.

Also, users can mint NFTs directly from their websites onto the Ethereum blockchain, meaning they can convert their artwork now with the click of a button.

Pros

• Creators don't pay gas fees until they sell.

• Limitless choice of NFT collectibles.

• Different payment options.

• Compatible with iOS and Android OS devices.

• Supports up to 14 crypto wallets.

Cons

• 10% royalty paid is relatively low.

• Doesn't support fiat currencies.

Rarible

As a community-owned NFT marketplace on the Ethereum blockchain, Rarible dramatically emphasizes the social aspect of its business and allows users to track their peers’ general activity. The platform enables users to create ERC-721 tokens besides being able to add royalties or build smart contracts as miners. Moreover, Rarible offers a unique regulatory crypto called $RARI, which users can earn via weekly pay by interacting on the platform by buying or selling NFTs.

Pros

• Artists can pick up to 50% of their future income.

• Easy-to-use marketplace with a user-friendly interface.

• Hassle-free NFT creating and selling.

Cons

• High gas fees.

• Unresponsive customer support.

NBA Top Shot

A brainchild of the NBA and Women’s NBA, the NBA Top Shot is famous for tokenizing all NBA top players by recording their different outstanding performances into NFTs as cards.

NBA Top Shots runs on the Flow Blockchain from Dapper Labs. That platform that runs as a private NFT marketplace gives users the right of ownership and credibility besides allowing them to trade NFTs on the site.

Pros

• Flow blockchain is cheaper than Ethereum.

• Best for people using debit/credit cards.

• NFTs have a great resale value.

• New NFTs released often.

Cons

• Limited cryptocurrency support.

• The project is still in its infancy.

• It only deals with NBA stuff.

SuperRare

Like the name sounds, SuperRare is an NFT marketplace dedicated to unique NFT collectibles. The platform that has distinguished itself as the upmarket alternative of Rarible presents a polished user interface that's extensively curated, giving it a minimalist appearance. SuperRare pays out 85% of NFTs' total sales price to artists and keeps 15% as fees, while creators receive a 10% royalty on all their secondary sales.

Buyers pay a 3% transaction fee for every transaction, and all payments are made using Ether (ETH).

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Pros

• Offers exclusive NFTs.

• Excellent user interface.

• High royalty fees.

Cons

• High commission rate at 15%.

• Only accepts ETH as payment.

NiftyGateway

NiftyGateway partners with businesses and leading artists to create NFT collections called Nifties that users can transfer to their crypto wallets and personal collections or display on the Metaverse. The platform is ideal for users who make or trade top-of-the-range exclusive NFTs. Individuals buying exclusive NiftyGateway NFTs are assured of a high-end market offering limited edition collectibles. Nonetheless, leading projects like Bored Apes and CryptoPunks don't feature due to many existing restrictions.

Pros

• Custodial marketplace.

• Best for newbies without technical skills.

• Allows using credit/debit cards.

Cons

• It doesn't support crypto wallets.

• Exclusive for influential artists.

Foundation

Foundation NFT marketplace aims to advance the digital art and cryptocurrency culture by making it easy to trade, besides promoting disadvantaged users. The platform primarily focuses on art projects, and the leadership team is famous for holding live auctions that streamline the bidding procedure.

Foundation gives creators 85% of the NFT sales price and keeps 15% as commission, while artists are given a 10% royalty. You may want to know that Nyan Cat NFT, a renowned NFT, was sold on Foundation.

Pros

• Easy-to-use interface.

• Artists receive a 10% royalty fee.

• Runs an auction systems.

Cons

• Invite-only platform.

• High commission rate.

• High gas and minting rates.

Binance NFT

Binance is a world-class crypto exchange that launched an NFT platform in 2021. It has become a popular contender due to its diverse Metaverse collectibles. Despite being a new digital asset marketplace, Binance already features over 800 creators and a massive following of collectors. While users in other platforms pay between 2.5 and 5% transaction fees for secondary and up to 5% on primary transactions, Binance charges 1% and avails numerous payment methods. However, sellers receive only 1% as royalties.

Pros

• Highly trusted in the crypto sphere.

• 1% transaction fee for sellers, buyers, and traders.

• Free account creation and verification.

• Easy-to-use interface.

Cons

• Both buyers and sellers pay the fee.

• New entrant and lacks rarest NFTs.

How to choose the largest NFT marketplace

The best way to choose the largest NFT marketplace starts with deciding which category of digital asset you want to create, buy or sell. Since NFTs represent anything from videos, collector items, written word, music, and more, narrowing your area of interest and considering the type of token supported are good starting points. Moreover, confirm a platform's security protocols and whether it's had any breaches in the past.

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tom nyarunda

Tom Nyarunda

Tom is a freelance writer with over 15-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. He is a philosophical figurehead who believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

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