If you want in on the NFT craze, an NFT marketplace is your gateway to participating in the purchase and sale of these digital assets — from art to music to entire virtual worlds. Think of NFT marketplaces as your Amazon of the digital realm.
There are dozens of NFT marketplaces in existence, and many of them have a specific focus or niche. What should you look for before deciding which one to use, and what are the top NFT marketplaces out there? Here’s what you need to know.
Choosing an NFT marketplace
First, remember that an NFT (non-fungible token) simply represents ownership of an asset. Before choosing an NFT marketplace, you’ll first want to decide the kind of digital asset you’re interested in buying, selling, or creating. Just about anything digital — the written word, videos, video games, art, collectors items, etc. — can be tokenized on a blockchain (such as Ethereum (CRYPTO:ETH), the most common blockchain network NFTs are built on), so narrowing down your interest is a good place to start.
Another consideration is the type of tokens supported on a marketplace. Some support a wide variety of tokens. Others are closed marketplaces and utilize a specific proprietary token. When opening an NFT marketplace account, be sure to fund your blockchain wallet with the right crypto or token required to participate in the site’s activity. You’ll be prompted to link your wallet to the NFT marketplace once you’ve opened up an account. Also check to see what kind of security the marketplace has in force, and if it has had any issues in the past.
10 top NFT marketplaces
Here are some of the top NFT marketplaces right now.