OpenSea, Rarible, SuperRare, Atomic Hub and more!
In this guide we take a look at the best NFT marketplaces, and we dive into how you can trade items and earn crypto. It’s important to understand that earning doesn’t only happen by selling. Many of these NFT marketplaces have their own token, or their own point system. These allow ecosystem participants another way to earn.
Since the breakthrough of NFT marketplaces in 2020, a wide variety of trading and farming opportunities have risen. At the same time, the NFT market has developed from a market full of euphoria, to one with a lot more cautious users, investors and project leaders. On NFT marketplaces you can trade all kinds of assets, ranging from high-end digital artworks to NFT licenses, membership passes or game items.
OpenSea
With over 1 million sold NFTs per month, OpenSea is leader in the NFT space. They also have by far the biggest amount of traders, surpassing 200,000 every month. OpenSea is now looking to innovate, and plans OpenSea 2.0 for a December release. This will include a point system, rewards, and a potential token airdrop.
OKX NFT Marketplace
OKX NFT Marketplace is part of the OKX ecosystem, which includes the centralized exchange with the same name and the X Layer network. Surprisingly, OKX NFT Marketplace is particularly big in the Bitcoin Ordinals community, processing $68 million in trading volume in the past 30 days.
Blur
Blur has changed the game for NFT trading by rewarding those who generate lots of trading volume with tokens. Wash trading, faking volume, users would do anything to get their hands on a BLUR airdrop.
Magic Eden
Magic Eden is now transitioning into a full-fledged platform. The NFT marketplace will introduce launchpads, tokens and more. At the same time, they already have their softcurrency, Diamonds. They reward these to active users of their platform.
TokenTrove
Immutable is abandoning their own marketplace to make way for third-parties, and TokenTrove is currently one of the leaders on Immutable X and Immutable zkEVM. The marketplace offers all the features you may expect, and even lets you expert your history for tax purposes.
What are NFTs?
NFT is an abbreviation for non-fungible token, meaning that every token is unique on its own. An NFT represents a unique digital asset, and can often be used inside various applications. For example, NFTs can be items in a video game, or a license to run a node. They can also be digital artworks, or ownership contracts over physical real-world assets (RWAs). Some expect the market for RWA to become a multi-billion dollar market, and an ideal way to make illiquid products liquid. To understand more about NFTs, please refer to our educational article about NFTs.
Are NFT valuable?
NFTs on their own aren’t valuable, as they are simply a contract that verifies that the wallet holder owns a certain asset. This asset can represent a value, as it can be a valuable artwork, a contract of ownership for a valuable watch, or perhaps a game item that’s very rare. However, if you’re curious about expensive NFT collections, please take a look in the NFT Rankings.
Can you trade, sell and transfer all NFTs?
Not every NFT can be traded. This depends on the rules set in the smart contract of the NFT collection. Some NFTs, like for example those involving digital identities, are meant to remain in the same wallet, and therefore these aren’t transferable. We call these ‘soulbound tokens’, or SBTs.
How to track the best NFT marketplaces?
When collecting NFTs, it is very important to keep up to date on the state of marketplaces. One of the best tools to follow how the best NFT marketplaces are doing is the DappRadar NFT Marketplace Ranking. There, you find non-fungible token trading volumes, the number of traders per marketplace, and many more key metrics.
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