Investment in The Best NFT Marketplace
Non-fungible tokens (NFTs) have gone viral in investment popularity this year, showing impressive $2.5 billion sales volume in just the first half of 2021. Meanwhile, the NFTs industry is in the very early stage of the adoption curve. And still have a great potential to get into the mainstream. But first what is an NFT? A non-fungible token (NFT) is a unique coded data stored on a digital ledger of Ethereum blockchain considered to be non-interchangeable. NFTs are generally used to represent digital items such as photos, audio or videos instead of the original file. NFTs actually convert physical assets into digital tokens so that they can move and use around within this e-system. So investing in best NFTs marketplace is a smart decision.
Put simply, you can buy or sell NFTs on a digital market that is designed for such items. NFTs are sold for cryptocurrency through smart contracts that is recorded on a blockchain. There are many famous NFT marketplaces where hundreds of thousands of NFTs are available. Generally, NFT marketplaces have various token standards restricting them to sell the same type of NFTs. However, NFT market with ERC-1155 tokens allow multiple NFTs to deal with. Thus, you can invest in NFTs by buying or selling them at a profit. For instance, Pablo Rodriguez-Fraile, an art collector, earned almost 1000 times its initial price from a Beeple digital art piece in only 6 months.
Uniqueness of NFTs Ownership
The NFTs are like authentic certificates of ownership for virtual or physical assets. This makes new sensation of ownership that allows digital assets to be owned or delivered globally far more easily with a huge amount of profit. The basic idea of NFTs came from a “colored coin” in 2012-2013 after creation of the Bitcoin blockchain. Colored coins are digital tokens that represent real assets on the blockchain. NFTs are used to prove ownership of any original asset, whether precious metals, cars, property, part of some services or artwork and even equities or bonds. NFT ownership also comfort the buyer or seller with fake-free, secrecy and impartiality. This creative ownership is combined with the new technology platforms that create a more user-friendly trade that results in continuous growth.
Which NFT Crypto to Buy?
NFTs are intended to offer ownership to you for something rare that can’t be duplicated. Only one person can own the original assets belonging to an NFT. This can possibly change markets like property and vehicles completely. If a greater part of our lives is spent in virtual universes in future, the things that we purchase there will presumably be purchased and sold as NFTs. The fundamental fascination behind the trading of an NFT are;
- NFTs are now part of the future of an individual’s finance.
- Brands are now entering the space of sentimentality rules.
- Virtual real estate is now reaching the top list.
- Style, craftsmanship and amusement are NFTs sacred goals.
- Celebrities are adapting NFTs.
- Blockchain companies are adopting more profitable and sustainable methodologies.
Top NFTs Ever Sold
Here is the top most valuable NFTs ever sold;
- Axie Infinity Virtual Game “Genesis” Estate: $1.5 million.
- CryptoPunk #6965: $1.6 million.
- Jack Dorsey “first-ever tweet”: $2.9 million.
- Mad Dog Jones “Replicator”: $4.1 million
- Edward Snowden “Stay Free”: $5.4 million
- Beeple’s “Ocean Front”: $6 million
- Beeple’s “Crossroads”: $6.6 million.
- CryptoPunk #3100 and CryptoPunk #7804: $7.58 million and $7.57 million
- Beeple’s “the First 5000 Days”: $69.3 million
Which NFT Tokens to Buy?
The big investment blast is that the NFTs are actually the Ethereum blockchain. First, what is Ethereum? Ethereum is simply a cryptocurrency like Dogecoin or Bitcoin but with some different extent. Ethereum blockchain using ETH coins supports NFTs while these NFTs store coded digital information. So anyone can buy NFTs of its own digital art interest if he can buy ETH coin. Buying NFTs is regarded as an evolution of fine art collecting. You have great NFTs choices to buy like almost $390,000 for a 50-second video of Grimes or $6.6 million for a video of Beeple.
Recently, the Beeple’s “the First 5000 Days” was sold on $69.3 million at Christie’s auction, almost $15 million more than Monet’s painting Nymphéas sold for in 2014. People now have been building long-term community based NFTs as was happening earlier with physically owned assets. Pudgy Penguins is one of the most popular NFTs crypto communities. Other valuable NFTs communities to buy include project-based CryptoPunks and animal-themed projects Bored Ape Yacht Club.
Still confused which NFTs to buy or sell?
That all actually depends on who you are? If you’re an artist or a creator, the focus on which NFTs are bestwill be much different from if you’re a buyer or a collector.
I’m an artist or a creator.
NFTs marketplace is most interesting idea as it provides you a place to sell your digital work that otherwise might not be much valuable. Your paintings, funny stickers, graphical innovations, GIFs, interesting video clips, sound recording, music pieces, celebrities’ events or photo sketches or any cool digital ideas that you are going to create has a worth to sell as NFTs. Not only a big amount initially but NFTs will have to pay you a handsome percentage every time it is resold.
I’m a buyer or a collector.
Buying an NFT is not only an investment but involves some fun or inner satisfaction too. You get basic NFTs copyrights, you are now able to post the NFTs ownership online or set NFTs as your profile picture. NFTs marketplace is like any physical e-market, where you buy NFTs and when the value of it goes up you can sell it for a profit.
Which is the best NFTs marketplace?
The NFT marketplace is an online commercial center designed for the creation and trade of NFTs. Basically, the NFTs marketplace is similar to an internet business website where you can utilize advanced wallets to purchase valuable things. There are a few NFT marketplaces where you might make your own NFTs, sell or buy NFTs at ridiculously significant expenses. Notwithstanding, before you do as such, you need to figure out which NFT marketplace is best for you. And where your advanced resources will produce the most overtop income. NFT marketplaces utilize platforms where NFTs can be created, stored, displayed and traded. These marketplaces are to NFTs as what Amazon or eBay are to products. Firstly, you have to be aware of all available platforms of NFT marketplaces. Secondly, you have to get a crypto wallet that is viable with the blockchain and that upholds the NFTs you wish to buy.
Which is the best NFTs platforms?
An NFT is considered no more than a digital analogue of a real asset and seems purely for your own enjoyment. The NFT marketplaces are a great way to support artists, celebrities, other creators or financial seekers. It eventually means that the upcoming potential of NFTs is still productive. Platforms are eventually the marketplaces themselves like different corners of groceries within a super market. Now if you can understand the importance of existence of an NFT marketplace, you can look at the top NFT platforms within the NFT marketplaces. This list includes the 2021 top 10 leading or most popular NFT marketplaces with little detail here for your guidelines, list may alter in the future.
|Location||New York City|
|Founder||Devin Finze & Alex Atallah|
|Category||Digital art, music, games, domain names, virtual worlds, sports, collectibles.|
OpenSea grows as the world’s largest NFT marketplace. Everything is available here from NFT art to virtual reality, even they deal with trading sharp digital corners, sports, cards and collectibles. They are contributing more than 200 categories with almost 4 million goods on their site. Its average weekly trading of NFTs is approximately $25 million. Generally, Ether is used to purchase NFT items on OpenSea. DappRadar, an analytical website, has declared the OpenSea is the eBay of the blockchain. A popular virtual real-estate portal named Decentraland has also been running on OpenSea.
|Founder||Alex Salkinov & Alexei Falin|
|Category||Digital art, photography, music, games, metaverse, memes|
Rarible allows NFT creators to mint, exchange and trade NFTs in customized dealing. The owners of Rarible activate the platform users through ERC-20 RARIm holders. Digital books, art work, movies, music, cards and albums are all tradable on Rarible. This platform also deals with photographs, web contents, sports, memes and other goods. Thus Rarible is considered one of the top art-based NFT marketplaces.
|Category||Digital art, photography, videos, games, templates, domain names|
Mintable works like eBay as a two-sided market for buying and selling NFTs. This site is directly linked to MetaMask. So the creation of profiles and the loading of users Ether wallets both are required for working with Mintable. Creators can easily turn any kind of artwork into a blockchain item or NFT. Simultaneously, a smart contract will be created automatically on Mintable without writing any code. Thus Mintable is the easiest NFT platform on top of Ethereum blockchain and considered perfect for beginners. IT includes to create, sell, distribute, buy and re-trade NFTs for cryptocurrencies. Mintable takes a transaction fee on a percentage of NFT sales, generally 2.5% to 5% per million dollars, thus it is an excellent entry platform into the NFT marketplace.
Foundation is a unique NFT platform who brings together digital entrepreneurs and crypto natives as well as NFT collectors. It primarily focuses on digital art. The users must either mint their own NFT or get an NFT from any site before creating a Foundation profile. It works as a creative community where an artist must invite another artist to join Foundation as a content producer, while each artist is only allowed to share one invite. Thus a collective experience of ownership and connection work to make money as artists on Foundation.
5. Nifty Gateway
|Location||New York City|
|Founder||Duncan & Griffin Cock Foster|
Nifty Gateway was boosted when Beeple sold his “CROSSROAD” at a record-breaking $6.6 million. Nifty Gateway is a centralized system that works in blockchain technology with a very special way. Any organization can choose Nifty Gateway to utilize blockchan into fulfill their specific digital requirements. Nifty Gateway also provide platform to decentralized application (dApp) and game developers.
Is Nifty Gateway Safe?
Yes, Nifty Gateway is a custodial NFT marketplace where the NFTs are not stored in crypto wallet, but on the platform unlike with OpenSea. Nifty Gateway has sold most popular NFTs by Beeple, Grimes, LOGIK and other widely followed NFT artists. This site now has the most revenue generated sales and many celebrities found here. Nifty works on limited-edition publications produced for a specific period and sold at a set price. As soon as the window closes, there will be no more NFTs available. It is an NFT platform for collectors to buy NFTs using a credit card instead of crypto coins. Nifty Gateway takes 5% + 30 cents of every secondary sale as a credit card processing fees.
|Founder||John Crain, Charles Crain & Jonathan Perkins|
SuperRare is an NFT marketplace to collect and trade unique, single-edition digital artworks. Each artwork is created by an artist within the network and automatically tokenized as a crypto-collectible digital item like NFT that can further be traded. SuperRare resembles an Instagram profile where digital art, list of price of items, sales value, other related information and timed auction sites are displayed in a tile of windows.
SuperRare has also provides a social network for its users in addition to the trading marketplace. SuperRare is using a historical proven business model in an innovative NFT marketplace. It charges a 3% transaction fee for buyers on all purchases on its platform. There is a 15% artist gallery commission for primary sales and artists receive a 10% royalty on secondary sales.
|Location||San Francisco, California.|
|Founder||Dannie Chu & Yash Nelapati|
|Category||Digital art, virtual reality, short film, motion animation|
When MakersPlace, in conjunction with Christie’s, sold Beeple’s classic NFT, “Everyday: The Very First 5000 Days” for $69.3 million in March 2021, it set the new sales record. MakersPlace is a website established for the creation of digital art. A user can get the artwork through a digital auction, a fixed price sale or a regular credit card. MakersPlace’s owners pioneered the use of blockchain technology in the NFT art community in order to ensure authenticity, uniqueness, and ownership in generating and selling the work for digital creators. The artist signs and issues each piece using his MakersPlace profile which is then permanently stored and authenticated via the blockchain. This NFT platform is comprehensive and easy to navigate and provides freely accessible ownership data and searchable tags.
8. Async Art
|Location||San Francisco, CA, US|
Async Art is an NFT platform where making, collecting and trading of programmable art is possible. Each art piece on the Async Art consists of Master composite and Layer images, while the Master and the Layers are separate NFTs. Users can purchase either Masters or Layers or both. Master is a unique one piece of art and Layers are the individual pieces that make up a complete Master image. The artist defines each layer’s value. The artist limits an artwork as he can customize and collectors have complete control over every component. So collectors can let the artist change the background, the size and the position of a character, or the image color.
9. Axie Infinity
|Founder||Trung Nguyen & Aleksander Larsen|
Axie Infinity, a new NFT-based role-playing game, is swept out the other digital game industry. It is the fastest-growing crypto blockchain game with the fact that players are making money simply by playing. Axie Infinity is a virtual game like other internet games where players can gather, nurture and fight with animated creatures known as Axies. Gamers can digitally control their towns, farms and kingdoms and can acquire more and more Axies to enhance their authority. The players can even sell their collected Axies and the purchased lands.
Although it is in its initial stage, the game has become a most common Ethereum game with over 15,000 monthly active players. As a rule, to play the game, three Axies using Ethereum (ETH) are needed. On the NFT marketplaces list for 2021 Axie Infinity recognizes its massive top position among online players. The cheapest Axie on sale went around $200 and the most expensive Axie ever sold around $620,000 (for 300 ETH).
|Founder||David Moore, Andy Gray and James Morgan|
KnownOrigin is one of the earliest and fastest growing Ethereum NFT art platforms within Web 3.0 with a POP-up gallery event. The Ethereum Blockchain has made it very simple for digital producers to authenticate, showcase and sell their digital work. On KnownOrigin, an artists or a contributor must create a profile page. It works like Twitter and Instagram which include a sign up, a profile picture, Bio and a social account. Artists only need a digital wallet such as MetaMask.io or TrustWallet for working on KnownOrigin. There exists a genuine digital collectible of one-of-a-kind on KnownOrigin with the most feasible approach.
Which is the best NFTs apps?
ketchAR is a newly existing mobile app in the NFT marketplace. It primarily allows artists to create and turn photos into illustrations using its AI-based vision. It is now updating its new features to turn any artwork into NFTs directly and then trade them. In upcoming months, OpenSea and Rarible have also been releasing an app initially for browsing NFT but not for trading.
How to buy NFTs?
The steps involved in buying an NFT are;
- Firstly, you have to buy cryptocurrency, specifically Ethereum from a crypto market like Coinbase.
- Next is to get a cryptocurrency wallet where you can store and control your Ethereum and NFTs. For this purpose, you have to sign up for any Non-custodial digital wallet such as Metamask.
- Now you can transfer your Ethereum coins from Coinbase to your Metamask wallet (as an example), so you can have the control to purchase NFTs from various NFT marketplaces.
- Now join any NFT Marketplace, like Opensea or Rarible. Here you will be asked to sync your digital wallet to their site in order to purchase and then store your NFTs.
- For keeping up to date, you have to follow your profile registered on NFT Marketplace. You can now trade NFT by auctions or ‘Buy Now’ offers.
Why NFTs have value?
Proof of ownership, the rarity of an item, the brand, the celebrity, the highest curiosity and the price someone is willing to pay are the major components of why NFTs have value. NFTs through Social Media Marketing is a quick and easy way to make yourself known and priced. If you are an artist post your NFT on all available social media accounts in NFT marketplaces and present yourself in uniqueness. Create hype at least two weeks before the drop and make sure the targeted audience is prepared for this release.
Are NFTs scam?
As soon as NFT hysteria has started the scammers became active. Common frauds in NFT marketplaces include creating bogus NFT artworks and mock platforms. They are acting like selling digital art but actually stealing crypto-card information. They generally used phishing programming and viruses that can drain the cryptocurrency wealth of users’ digital wallets. So if you’re thinking about trading NFTs, you have to investigate how your potential investment is worthwhile. So you should initially know reliability of the NFTs marketplace where you are going to buy NFTs.
Secondly, you should gather all the relevant data regarding NFTs like value, cost, copyrights, ownership, negotiation policy, different offers, Reselling limitations, conversation with direct party, seller or buyers rights and rules and regulations regarding trade on NFTs marketplace. NFTs marketplace might be a scam in which you trade NFTs. It’s too soon to know, however before you hop in recklessly, do your due determination. Get what you’re trading just as the expected dangers and prizes. As a whole, NFT marketplace is still safe from most of cryptocurrencies blockchain. If you do a smart search and make a proper outline, of what you are going to invest on what type of NFT, gives you a genuine revenue in hand.