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 Etherium-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 is a U.S. based exchange that has been operating since 2012. It is one of the safest exchanges on the market, and has a host of products that caters to a wide range of users.
Although currently in beta phase, Coinbase NFT allows you to purchase popular NFTs directly through Coinbase on Ethereum, Base, and Polygon.
Users also have the privilege of minting their own NFTs on Base, Coinbase’s flagship blockchain. Minting on Coinbase gives you the luxury of creating NFTs while benefiting from a streamlined process.
- 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. KuCoin
KuCoin, a big name in the crypto exchange world, is making significant strides in the NFT sector. Launched in April 2022, its Wonderland feature offers a centralized hub for purchasing, managing, and investing in game-related NFTs.
Wonderland stands out by offering a simple and integrated approach to handle game NFTs. It currently supports KCC and Polygon networks, with plans to expand to Ethereum (ETH), Binance Smart Chain (BSC), and SLP soon.
- Centralized platform for game NFTs
- User-friendly interface for managing and buying NFTs
- Low transaction fees, further reducible based on user level
- Limited network support currently, but more to be added
How to buy NFTs on KuCoin
1. Sign in to your KuCoin account.
2. Navigate to the Wonderland section.
3. Browse and select the NFT you wish to purchase.
4. Click on the ‘buy’ button.
5. Enter your trading password to confirm the transaction.
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.
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 is one of the oldest bitcoin exchanges, debuting in 2011. Since then, the popular exchange has expanded to multiple markets, and offers a variety of products that cater to multiple user types.
Some of these include derivatives trading, staking, and NFTs. On Kraken you can purchase some of the most popular NFTs like 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 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.
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