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Best NFT Marketplace

The NFT craze is transforming industries across the globe from music to space exploration. An NFT marketplace is your opportunity to get in on the action, a safe place to buy and sell digital assets.

With dozens of NFT marketplaces available I’ve taken the time to review them all to bring you this definitive list of the best NFT marketplace for you.

Also consider: Best Crypto Exchanges UK

My top 10 NFT Marketplaces

  1. OpenSea – Best overall and huge asset selection
  2. Rarible – Best for categories and NFT art marketplace
  3. SuperRare – Best for discovering artists
  4. Mintable – Best for minting your own
  5. Nifty Gateway – Best for easy curated and rare drops
  6. Binance – Best for low fees
  7. Foundation – Best for exclusive art
  8. NBA Top Shot Marketplace – Best for finding top NBA NFTs
  9. Axie Marketplace – Best for crypto gamers
  10. Decentraland – Best virtual reality NFT game
Best NFT marketplace
OpenSea Logo

1. OpenSea

Best Overall and huge asset selection

The largest NFT marketplace available in the NFT space in terms of trading volume, OpenSea is regarded by many to be leading the way in NFT sales. The range of assets is huge and OpenSea also has an excellent offering for anyone looking to create their own NFTs using their item minting tool.

The OpenSea NFT marketplace was built on the Ethereum blockchain and currently, this marketplace supports over 150 cryptocurrencies for purchasing your NFTs. This is also one of the most extensive lists of NFT categories.

Categories

  • Art
  • Digital collectables
  • Domain names
  • Music
  • Photography
  • Sports
  • Trading Cards
  • Utility
  • Virtual Worlds

Fees

  • Free to use
  • 2.5% fee for each sale

Pros:

  • Very easy to use
  • Wide selection of NFTs
  • Excellent minting tools

Cons

  • High gas and carbon fees with Ethereum

Blockchain

  • Ethereum
  • Polygon
  • Klatyn
Rarible logo

2. Rarible

Best for Categories and NFT Art Marketplace

In terms of the sheer volume of NFTs, Rarible comes a close second to OpenSea however, where they differ is that Rarible requires you to use the token Rarible (CRYPTO:RARI) in order to buy and sell NFTs using this NFT marketplace. Rarible has a strong focus on art assets with the option for creators to use the platform to ‘mint’ their own NFTs.

Rarible is a more expensive option for buyers at 2.5% although this may be considered worthwhile to access the multichain support and hosting of NFTs built on Ethereum, Flow and Tezos.

In terms of purchasing power, Rarible accepts credit and debit cards and the Marketplace is open to more than 190 countries making it a truly international NFT marketplace.

Categories

  • PFP
  • Art
  • Metaverse
  • Photography
  • Music
  • Sports
  • Domains
  • NSFW
  • Earning
  • Games

Fees

  • 2.5% to buy and sell NFTs
  • 0.010 ETH gas fees when buying NFTs

Pros:

  • Supports debit and credit card purchases
  • Supports more than one chain
  • Supports multiple crypto wallets
  • Open to over 190 countries

Cons

  • 2.5% fee for buyers and seller
  • Requires an ETH crypto wallet for both deposits and withdrawals

Blockchain

  • Ethereum
  • Flow
  • Tezos
SuperRare logo

3. SuperRare

Best for Discovering Artists

SuperRare is about focusing on exclusive digital artwork. Here, NFT enthusiasts can buy, sell, and mint their own unique, single edition digital artworks created by an artist in the SuperRare network.

SuperRare describe themselves as being akin to Instagram meets Christie’s, combining culture, art, and collecting on one social network.

SuperRare is based on the Ethereum blockchain and only deal with a select number of artists, although new artists are encouraged to submit their artist profile.

Categories

  • Still image
  • GIF
  • 3D artwork
  • Video

Fees

  • 3% to buy
  • 15% to sell

Pros

  • Artists are paid 10% on all secondary sales
  • First collectors are paid 1% of each subsequent sale
  • High quality, unique works of digital art

Cons

  • 15% seller fee is high for an NFT marketplace
  • ETH only

Blockchain

  • Ethereum
Mintable logo

4. Mintable

Best for Minting your own NFTs

All types of creators can use the Mintable platform to mint and sell their work as a digital asset. Mintable aim to provide a broad spectrum of content with very little knowledge and expertise required to create an NFT from almost any digital file.

Using Immutable X helps avoid gas fees and Mintable provide free education which can be accessed via Mintable University with the express aim to help users improve their NTF knowledge.

In addition, Mintable offer an easy to use platform for the purchase of NFTs with several categories to choose from.

Categories

  • Art
  • Music
  • Videos
  • Collectibles
  • Sports
  • Utility

Fees

  • Buyer fee – 2.5% on normal items
  • 5% on gasless items
  • 10% on printable series

Pros

  • Gasless minting (mint NFTs for free)
  • Advanced trading volume and selling features to help maximise the value of NFTs
  • Social features

Cons

  • Limited selection of crypto wallets
  • High marketplace fees

Blockchain

  • Ethereum
  • Immutable X
Nifty Gateway logo

5. Nifty Gateway

Best for easy curated and rare drops

When it comes to art curation, Nifty Gateway is your go-to platform offering access to popular digital artists and premium NFT drops. Due to the popular nature of the NFTs they provide (including artists like Grimes), this platform is more geared towards high-end investors looking to discover exclusive digital assets.

The platform is powered by the crypto exchange Gemini, bought to you by the Winklevoss twins (made famous following their association with Facebook).

UK users will require a Gemini account in order to use the crypto to purchase NFTs. Gemini is also involved in the storage of your purchased NFTs, unlike other platforms that allow buyers to store their NFTs in their own wallets.

Creators on Nifty Gateway will benefit from a percentage of secondary NFT market sales as well as open editions, allowing creators to mint unlimited editions of their work for a set amount of time.

Categories

  • Music
  • Art

Fees

  • 5% seller fee
  • $0.30 transaction fee

Pros

  • Easy to use site
  • High profile creators
  • All artwork is vetted first
  • One of the most environmentally conscious platforms available

Cons

  • Not much in the way of low-value NFTs
  • Gas fees can add up
  • Withdrawals to US bank accounts or Gemini account only

Blockchain

  • Ethereum
Binance logo

6. Binance

Best for low fees

Binance is well known for offering a low-cost cryptocurrency exchange, and their NFT marketplace is no different. Here you can purchase NFTs with only a 1% transaction fee using either the Binance Smart Chain or alternatively the Ethereum blockchain.

The Binance NFT Marketplace has a wide range of NFTs in several categories, all accessible from a well laid out, easy to navigate platform. For people who already have a Binance crypto account, the NFT platform is all available without the need to create a new account.

Binance also offer a ‘Mystery Box’ feature. Users are able to purchase a box in order to obtain an undisclosed NFT which could be of some value.

Categories

  • Art
  • Sports
  • Entertainment
  • Gaming
  • Collectables
  • Esports
  • Mystery Box

Fees

  • 1% of the sale value

Pros

  • Has its own exchange token
  • Low minting fee
  • Excellent security features

Cons

  • Strict minting permissions
  • Overwhelming for complete beginners

Blockchain

  • Binance
  • Ethereum
Foundation logo

7. Foundation

Best for exclusive art

This is one of the most expensive places to sell art, however, ongoing royalties to NFT artists can help to recoup some of this and in terms of exclusive art drops and digital art projects, Foundation comes top of my list.

NFTs on Foundation are auctioned, usually running for 24 hours after the initial bid. Users are required to use Ethereum to purchase NFTs, however, Foundation only supports a limited number of wallets which could be problematic for some users.

Digital creators here will find that they must be invited in by the existing Foundation community in order to start selling their work.

Categories

  • Exclusive digital art

Fees

  • 15% service fees

Pros

  • 10% royalties to creators on subsequent sales
  • Excellent user experience
  • Fewer NFTs to compete with

Cons

  • Only accepts Ethereum
  • Commission fees are expensive

Blockchain

  • Ethereum
NBA Top Shot logo

8. NBA Top Shot Marketplace

Best for finding top NBA NFTs

For basketball collectors this is the holy grail of NFT marketplaces. Focusing exclusively on video clips, play highlights, and NBA art, basketball enthusiasts can trade, sell, and purchase collectable moments for a few dollars. However, there are also limited edition tokens featuring rare moments in NBA history which have been sold for hundreds of thousands of dollars.

This NFT marketplace was built by the NBA using the Flow blockchain built by Dapper Labs.

Categories

  • Most exciting moments in NBA history

Fees

  • 5% of total value of each sale

Pros

  • Low fees
  • New drops constantly available

Cons

  • Still in infancy and ID verification is required
  • Limited support for crypto

Blockchain

  • Flow

9. Axie Marketplace

Best for crypto gamers

This is the online shop for the popular video game, Axie Infinity. Axies are digital pets, which can be used to play against other players in order to earn rewards.

At Axie Marketplace, players can purchase, mint, and sell new Axies, lands, and other items related to the game.

This marketplace has been built on Ronin, a layer2 blockchain that runs on the Ethereum network. Here you will find a thriving community of gaming and crypto fans taking advantage of the intuitive and user-friendly platform.

Categories

  • All things relating to the Axie Infinity game

Fees

  • 1% with a creator code
  • 5.25% without creator code

Pros

  • Fun way to deal NFTs
  • Available on both desktop and mobile
  • Potential to earn a good amount of crypto

Cons

  • Can be expensive
  • Complexities surrounding getting started
  • Required to purchase 3 Axies to begin

Blockchain

  • Ethereum
  • Axie Infinity
Decentraland logo

10. Decentraland

Best virtual reality NFT game

Created on the Ethereum blockchain, Decentraland is a Virtual Reality world where NFT enthusiasts can create, sell, and acquire virtual properties and other digital assets such as avatars, art, and 3D scenes.

The platform has its own native token, MANA, which can be used to purchase assets. There have been several high value NFT sales including one for $2.4 million in 2021.

Categories

  • Wearables
  • Land
  • Estate
  • Names

Fees

  • Land bid start from 8500 MANA
  • Withdrawal fee8.3 MANA

Pros

  • Backed by the Security Advisory Board
  • Option to auction NFTs
  • Constantly being upgraded

Cons

  • General lack of engaging content
  • Limited interaction with other users
  • Lack of terrain variation

Blockchain

  • Ethereum

What is an NFT?

NFT stands for non-fungible token. Still confused? I don’t blame you.

Non-fungible means unique, or non-replaceable. This can include a tangible asset (ie an original piece of art) or a non-tangible asset such as an NFT which is usually a digital piece of art, collectable, video, or piece of music…you get where I’m going with this.

Most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, much like Bitcoin, however, it supports the buying and selling of NFTs by storing additional information.

Whilst NFTs can include anything digital, most of the excitement surrounding them at present is in relation to fine art collections.

NFTs are bought and sold online, on an NFT marketplace, often using cryptocurrency. Whilst many of these creations can be taken as a screenshot or downloaded, only the buyer can own the original item, which comes with built-in authentication serving as proof of ownership.

What are the best NFT communities?

NFT communities are groups of NFT collectors and investors working together to build a culture and promote the success of NFTs. Here you will find other enthusiasts at the forefront of this concept, looking to share the social dynamics that help create demand. They tend to do this through the power of social media, creating hype around digital assets.

Some of the notable NFT communities include:

  • CryptoPunks
  • Cool Cats
  • Deadfellaz
  • CryptoMories
  • Nuclear Nerds

What is the most popular NFT app?

An NFT app provides a place for creators, sellers, and buyers to come together and trade in NFTs. By number of traders, the top five NFT apps are:

  • OpenSea
  • Axie Infinity
  • NBA Top Shot
  • Atomic Market
  • Hic et nunc

Of these top five NFT Marketplaces, NBA Top Shot boasts the greatest volume.

How to choose the best NFT Marketplace

There are a wide range of NFT Marketplaces available, each with its own advantages. In order to identify which of these top NFT Marketplaces are best for you, it is first prudent to identify whether you are interested in minting, buying, or selling NFTs.

In addition to this, the kind of digital asset that spikes your interest, whether it be videos, video games, art, collector’s items, sports memorabilia, or any other digital asset is important as many of the best NFT marketplaces will specialise in one area.

Fees are also an important consideration. I have made every effort to provide you with all the information you need to find the best NFT marketplace to suit your needs however, I would recommend that you take the time to browse the marketplace you are considering and take into account the type of NFT tokens supported, as well as assets available and fees.

Should I use OpenSea or Rarible?

Whilst these are similar NFT marketplaces, there are some subtle differences. The first thing to note is the difference in fees. OpenSea have no buyer fees, whereas Rarible charges 2.5% of the total sale price. For people looking to trade frequently, this may be enough to sway your decision. In addition, OpenSea accepts more file formats as well as supporting Solana.

However, for sellers, Rarible allows the setting of their own royalty percentage, up to 100%, and they offer lazy minting as well as four blockchains. Rarible is also widely considered to be one of the best NFT art marketplaces for investors due to their extensive selection of digital art and digital collectables.

Is NFT only on Ethereum?

Whilst many NFT marketplaces use the Ethereum blockchain to hold their digital tokens, there are other NFT marketplaces that use blockchains such as Flow, WAX, Tezos, Solana and Cinance Smart chain. It is best to check with the individual marketplace.

Can I buy NFTs with Solana?

Yes, you can use the Solana blockchain to purchase NFTs, although you will have to check the marketplace in question supports this option. OpenSea are one marketplace on this list that supports Solana for the purchase of their digital collectables.

How much does it cost to sell an NFT?

Understanding the true cost of selling an NFT can be a complex process. NFTs are sold using blockchain technology and most NFT marketplaces will rely on the Ethereum blockchain. 

The sale of any digital creations will attract gas fees which are a volatile entity. Gas fees represent the cost involved in processing transactions and are calculated using the Ethereum metric of ‘Gwei’.

These gas fees will vary wildly depending on the time of day, and can therefore be reduced by exercising patience and waiting for the gas prices to go down. 

In addition to gas fees, there are platform fees which vary according to the online marketplace where you conduct your transaction. To give you an indication of the platform fees I have included some seller fees below:

Rarible: 2.5% on sale price
Nifty Gateway: No initial fee – 5% + $0.30 fee on secondary sales
OpenSea: 2.5% on sale price
Super Rare: 15% on the final sale price,

However, I would advise that you take more into consideration than simply the cost when selecting the best NFT marketplace. In order to ensure that your NFT art sells, you will need to consider which of the many NFT marketplaces best suits the nature of the NFT you are creating.

Best NFT Marketplace FAQs

How many NFT platforms are there?

There are hundreds of different NFT platforms out there. Although it is difficult to provide an exact number of platforms, as a vast number of platforms continue to open to meet the growing demand. However, the biggest NFT marketplaces are all included in my top ten list above.

Is buying NFTs risky?

Yes, buying NFTs is just as risky, if not riskier than investing in Crypto. This is because NFTs are a fairly new type of digital asset with a lack of liquidity which can make it difficult to sell non-fungible tokens. In addition, NFTs are a volatile part of the cryptocurrency market.

Whilst one of the most valuable sales of NFTs was by the digital artist Beeple, there is no guarantee that the piece he sold at Christie’s for $69 million won’t completely lose its value.

 

Please note

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

A pension is a long-term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation, which are subject to change in the future.

This article is for information only. Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

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