As the grip of the bear market gradually eases, NFTs look poised for a comeback. If you’re looking to buy, sell, or trade NFTs, you must find a solid platform to facilitate this. This guide covers the best NFT marketplaces in 2024.
Best NFT marketplaces in 2024
1. SunContract
SunContract is a marketplace for trading electricity from renewable energy sources between consumers and producers. Participants in the marketplace can trade this electricity on a peer-to-peer basis, reducing inefficiency and costs, and also manage it and move between themselves as they please.
The company has also developed an innovative NFT marketplace where it will issue NFTs representing real-world solar panels installed in Višnje-Slovenia. The holders of the NFT token will thus be able to create their ”Personal Power Plant” a registered concept introduced by SunContract.
In the first phase of the project, the energy generated from the underlying solar panel will be sold on the P2P energy marketplace, with revenue generated in SNC tokens (SunContract’s Ethereum-based utility token). After deducting fees related to operations and maintenance, these SNC tokens will be deposited in his wallet in the SunContract platform.
Phase two of the project will allow NFT holders in countries where SunContract has acquired energy permits or licenses (such as Slovenia, Croatia, and Estonia) to directly use the energy produced by their NFTs for personal consumption at home or in their businesses. This innovative approach aims to democratize renewable energy and make it accessible to everyone including those who live in apartments. The endeavor also aims to be easy and liquid as these NFTs can be bought and sold at any time on the platform.
- Democratize renewable energy and make it accessible also to those who are unable to physically install solar panels (people in apartments, for example)
- Making solar panels easy and liquid endeavors in the sense that they are easily bought and sold on SunContract’s NFT marketplace
- NFT holders can build their Personal Power Plant and be masters of their own energy by consuming it, earning from it, or moving it to other users.
- By combining renewable energy and blockchain, transparency is added to the sector. Users will have information about their electricity, from where it came and to where it is going.
- For now, these NFTs are on SunContract’s private blockchain, which limits interoperability.
- The NFT marketplace is going live with only 2112 NFTs, which will make it hard to get access to during the first months.
1. Go to nft.suncontract.org.
2. Register for the whitelist by providing your name and email address.
It is important to note that NFTs will not be available for purchase until the first farm launch in Q1 2024.
2. Coinbase
Coinbase launched its NFT marketplace to offer a seamless and user-friendly platform for buying, selling, and creating NFTs. The marketplace emphasizes an intuitive design, making NFT transactions as straightforward as purchasing any product online, and lowering the barrier to entry for new users. It initially supports Ethereum-based NFTs, utilizing Coinbase’s robust infrastructure and allowing users to transact using their Coinbase wallets. This integration simplifies the process for those already familiar with Coinbase’s ecosystem.
One of the standout features of Coinbase’s NFT marketplace is its focus on community building. The platform incorporates social features that enable users to follow creators, comment on NFTs, and engage with other users, fostering a more interactive and engaging experience. The platform offeres a diverse range of NFTs, including digital art, collectibles, and other digital assets, catering to both seasoned collectors and newcomers.
By integrating these features, Coinbase positions its NFT marketplace as a strong competitor in the rapidly growing NFT space, aiming to rival established platforms like OpenSea by leveraging its large user base and trusted brand name.
- Access NFTs through your Coinbase account
- Mint NFTs and advertise NFTs on Coinbase without creating your own website
- Coinbase will handle contract implementation, uploading, and metadata to decentralized storage for NFT mints
- Uses both ERC-721 and ERC-1155 standards
- Limited support for NFTs from other blockchains
1. Register for an account on Coinbase.
2. Open the Coinbase app.
3. Select NFT.
4. Choose an NFT.
5. Click on Buy.
3. OpenSea
We chose OpenSea as a top NFT marketplace because it leads in NFT sales and offers a vast array of digital assets. The platform supports over 150 payment tokens, making it highly accessible and convenient for users. OpenSea’s user-friendly interface simplifies creating and selling NFTs, known as minting, attracting artists and collectors. Additionally, signing up and browsing is free, making it an excellent starting point for newcomers to the NFT world. OpenSea charges a 2.5% fee on secondary sales and between 2.5% and 10% on mints from primary drops, providing a fair and transparent fee structure.
- Offers a wide range of digital assets, including art, collectibles, music, and domain names, catering to diverse interests.
- An intuitive interface that makes it easy for newcomers and experienced users to navigate and use.
- Extensive payment options.
- Users can sign up and browse the platform for free.
- May have some high gas fees for the Ethereum network
1. Go to OpenSea and connect your cryptocurrency wallet, such as MetaMask.
2. Navigate through the marketplace to find the NFT you wish to purchase.
3. Click on the NFT you are interested in to view its details.
4. Click the ‘Buy Now’ button to initiate the purchase process.
5. Confirm the transaction in your connected wallet to complete the purchase.
OKX is a Seychelles based exchange that serves a diverse and global network of users. It is an all in one exchange that has a wide range of products, including derivatives, a proprietary blockchain and token, NFTs, and more. Purchasing NFTs on OKX incurs zero fees from OKX. You also have the opportunity to trade some of the most popular NFTs on more than 20 blockchain networks, including popular layer-2s like Polygon, Arbitrum, and ZKsync.
- Aggregates NFTs from OpenSea, Blur, LooksRare, X2Y2, MagicEden, and many more
- Supports multiple blockchains, such as Ethereum, Avalanche, Solana, and even ordinals
- Users incur zero fees from OKX
- OKX is unavailable in many geographic regions
1. Login to OKX account.
2. Navigate to Ordinals or NFT marketplace.
3. Choose Explore.
4. Select an NFT and press Buy.
5. Kraken
Kraken, one of the oldest Bitcoin exchanges, debuted in 2011. Since then, the popular exchange has expanded into multiple markets and offers a variety of products catering to different user types. These include derivatives trading, staking, and NFTs. On Kraken, you can purchase some of the most popular NFTs, such as Reddit NFTs, Bored Apes, and CryptoPunks.
- Hosts popular NFTs like Bored Ape, Mutant Yacht Club, and more
- NFTs available on Ethereum, Solana, and Polygon
- Polygon NFTs trade with zero gas fees
- Available in limited regions
1. Sign in to Kraken.
2. Navigate to the NFT tab.
3. Select an NFT.
4. Press Continue, then press Confirm to purchase.
5. Go to My NFTs to view the NFT.
6. Bybit
Bybit is a popular crypto exchange founded in the United Arab Emirates in 2018. It supports more than 350 coins for trading, making it an altcoin paradise for traders. Additionally, the exchange has other features like the integration of ApeX Pro, a spot and derivatives exchange.
Bybit allows you to purchase and create create NFTs. The platform charges a nominal NFT trading fee, in addition to any applicable royalty fees that are paid to the NFT creator. The platforms is suitable for those who want to acquire lesser known artist’s works.
- Supports royalty payments to NFT creators
- NFTs tend to be cheaper than most CEX NFT platforms
- Supports six popular blockchains, including Ethereum, Solana, Tezos, and more
- Does not have many popular NFT collections
1. Sign into your Bybit account.
2. Select web3 tab on bybit.com.
3. Press NFT.
4. Select Explore.
5. Choose an NFT and select Buy Now.
7. Binance
Binance is the world’s most popular exchange by trading volume. The platform services customers across countless geographic regions, and has a wide selection of products that caters to many different crypto enthusiasts. In other words, it is a crypto one stop shop.
The popular exchange allows you top purchase NFTs on some of the most popular networks that include BNB, Ethereum, and Bitcoin. You can select from famous NFT collections like Azuki Elementals, Mutant Ape Yacht Club, Doodles, and many more.
- Hosts many popular NFT collections
- Supports NFTs on popular blockchains like ordinals
- Has NFT loans and staking
- Limited support for depositing fiat in select regions
1. Login to your Binance account.
2. Navigate to the more tab and select NFT.
3. Scroll down and choose an NFT.
4. Press Buy Now.
What common security measures should users take when trading on NFT marketplaces?
Users must adopt several key practices to ensure secure trading on NFT marketplaces. These measures help protect against fraud and maintain the integrity of transactions. Here are some factors to consider:
- Use reputable NFT marketing agencies to guide your investments and verify the authenticity of the NFTs.
- Regularly update and use strong, unique passwords for your accounts.
- Follow reliable NFT social media channels to stay informed about potential scams and security tips.
- Employ hardware wallets to store your NFTs securely offline.
- Engage with crypto marketing experts to understand the best practices and trends in the NFT space.
These are just some general security best practices to help guide your journey. We highly encourage doing your research to help aid your decision-making process.
What to consider when choosing an NFT marketplace
There are a few factors that you should consider before deciding where to buy NFTs. Firstly, your intentions must inform your choice. Some marketplaces allow you to sell NFTs, while others may only allow you to buy. If you are selling, you may be more interested in how a prospective platform handles or enforces NFT royalties.
Additionally, consider the types of assets available on each platform. Some NFT marketplaces are suited to popular collections or utility-focused tokens, while others may be best for lesser-known artists. Alternatively, you may be interested in exploring platforms that deal specifically with tokenization or fractionalization of assets.
The Angelo App is a socialfi platform that allows artists to tokenize and distribute their creations. By purchasing artwork, collectors can gain access to artists through livestreams, polls, and chat. These tokens are available for trade on the secondary market in the marketplace. Try it now!
Another important aspect to consider is price. Fees and prices are paramount when choosing a top NFT platform. Some collectors look specifically for cheap NFTs, whereas for others, price is less of a driver.
Remember, if you are planning to trade NFTs, you should ensure you have a solid NFT trading strategy in place. This way, you know where but also how to buy NFTs and be well-placed to receive the best bang for your buck.
Invest with caution
The best NFT marketplace will depend on your individual requirements and preferences. Many platforms compete by lowering trading fees, engaging in revenue sharing, and migrating to different networks. All of these can be enticing for users, but it’s important that staying safe on these platforms remains your priority. Always practice good crypto wallet security. Unless you are trading, storing your NFTs offline in a hardware wallet such as Trezor or Ledger is the safest way to store your assets.
Frequently asked questions
NFT marketplaces ensure the authenticity of NFTs by verifying the identities of creators and using blockchain technology. They implement smart contracts to provide transparent and tamper-proof records of ownership and provenance. Marketplaces also collaborate with trusted third-party services for additional verification and authentication. This multi-layered approach helps maintain the integrity and trustworthiness of the NFTs listed on their platforms.
NFT marketplace’s fees vary. However, marketplace fees typically range from 1-3%. Many NFT platforms compete for users and will often lower their trading fees.
Some platforms that allow you to purchase NFTs may have age restrictions in general. In other words, there may be age requirements for using the platform, rather than for NFTs specifically. In general, there is no age restriction for buying NFTs.
Some NFT platforms enforce royalties for creators. The marketplaces that do enforce royalties may have a maximum amount that you can set for royalties. In general, most NFT royalties are not enforced at the smart contract level.
The structure of an NFT may differ based on blockchain architecture. For example, NFTs on Ethereum are smart contract JSON files that usually follow the ERC-721 or 1155 standard, and is usually held off-chain with some storage provider. On the other hand, Bitcoin NFTs are numbered individual satoshis (the smallest unit of Bitcoin), imbedded with data directly onto these satoshis, thereby inscribing the blockchain itself with unique information or media.
Quantum is widely recognized as the first NFT project. It was created on Namecoin in 2014. The project reemerged in 2021 and sold at Sotheby’s in 2021 for over a million dollars.
Buying NFTs can present a certain amount of risk. NFTs are volatile and can have large price swings due to market forces. Moreover, some NFTs risk being lost when held with third-party providers, may have smart contract risks, and can suffer from phishing scams.
NFTs have gained a bad reputation of being harmful to the environment. This is largely due to a misunderstanding in how the technology works. The idea that NFTs harm the environment is typically based on mining, a process which is immaterial to NFT minting.
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