NFTs are digital assets that are growing rapidly in scope, popularity, and value. Learn where to find them and see the top 10 markets where they’re currently being bought and sold.
About NFTs & NFT Marketplaces
NFTs have become very popular digital assets that almost anyone can create, buy or sell. While you can buy NFTs directly from a creator, a rapidly growing community of independent online platforms has emerged to serve as NFT marketplaces, where people looking to acquire NFTs can traverse different types. Creators can be almost anyone — artists, musicians, public companies, commercial groups, universities, and more. NFTs now provide a popular way for people and organizations to monetize both the physical and digital assets they already have or can easily create.
Considerations When Choosing an NFT Marketplace
The first step in choosing an NFT marketplace is to decide what type of NFT you are looking for. That will help you identify a relevant marketplace in which to begin browsing. When you identify a marketplace that has the right type of NFTs for you, it will be a good idea to read their disclosures and search for any third-party information on them you can find.
The following are some of the details you should look into:
- What procedures are in place to guarantee that a buyer’s transaction is legal?
- What is the desired NFT’s needed medium of exchange? (It’s usually a specific coin.)
- What are the costs of the transaction?
- What additional NFTs are there that are comparable to the one you’re looking for?
- After the transaction, where will you keep the NFT?
- What will you do with the NFT once the transaction is completed?
NFT Marketplace Categories
NFTs and the markets that sell them come in a variety of styles, formats, and subject matter, appealing to a diverse group of people including artists, musicians, sports fans, gamers, and collectors. For the benefit of organizing, I’ve divided the markets into the following categories:
- Open Marketplaces: a broad array of different sources
- Curated Marketplaces: more specific or specialized sources
- Collectibles Marketplaces: focusing on items like sports or movie collectibles
- Games Marketplaces: providing NFTs specific to online gaming
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