NFT

I wrote about the background and the history of NFT or Non-fungible tokens in my previous article. I have learned who created the first NFT, the first coin that NFT used, the famous NFT out there, and the cryptocurrencies that NFT is using nowadays. The link is provided below if you want to read the whole article.

https://read.cash/@MWSA/the-rise-of-nfts-c2c79079

But it is enough to have some background and history about NFT? Is it the only point why you read about NFT?

For sure you read something about NFT because want to own one or you are looking to invest in something. In our seeking of knowledge, we are looking for something that will truly help us to advance in our goal. Once we learned the 1st step we can go to the 2nd phase of our journey, in our case we now know about the history of NFT now we can go to the second phase.

The 2nd phase is looking for the right and trusted marketplace to sell, buy and create your first NFT. There is a good marketplace out there according to google, some of those are the first oldest, some are the latest, and some become famous become of certain NFTs that sell well or have a high value.

What are NFT Marketplaces

There are many NFT marketplace when you search on google. The marketplace is a digital platform for buying and selling NFT, it will allow you to purchase, sell, create and store your NFT collection. Marketplaces are linked with wallets where you can store your money based on what cryptocurrency you are using. Based on the wallet you use, you can transfer your NFT from your one wallet to your alternative wallet, or you can gift it to your friend or exchange it with another NFT

Many of the marketplaces focus on a certain NFT that other is not. Some are very beginner-friendly and others are complicated.

Here are some of the best NFT Marketplaces

1. Open sea

Launched in 2017, ancient by NFT standards and it is also among the largest NFT marketplaces that are active today. It hosts different kinds of NFTs, like music, art, photography, trading cards, and the virtual worlds. It is free to sign up and browse different assets available in the market and in other people's collections.

It uses different cryptocurrencies, including Ethereum, Solana, USDC, and Cardano.

It is a very user-friendly site, and there is a page on the site that is dedicated to the information you need, including, how to start your account, and how to set up your wallet.

For the cost Open sea charges a fee equal to 2.5% of every transaction, and in addition, you must also pay the gas fee for completing the NFT transaction with Ethereum.

2. Rarible

In a marketplace using Ethereum, Flow, and Tezos as the cryptocurrency, the user can buy different items like collectibles, video game assets, and NFTs. Like the Open sea marketplace, Rarible also charges the user a 2.5% fee on every transaction plus any gad fees.

In addition, Rarible makes its own toke called RARI, and the holder of RARI can vote for the company's next decision like the changes in the company policy.

In 2021, Rarible announce its official partnership with Adobe to ensure the protection of the metadata for the digital contents.

3. Binance

This is one of the largest cryptocurrency exchanges that was added NFT marketplace in 2021. Binance offers the typical assets that other marketplace also offers, including art, gaming items, and collectibles.

The major difference between the Binance and other competitor is that the Binance only deduct a 1% trading fee.

References

https://www.forbes.com/advisor/investing/cryptocurrency/best-nft-marketplaces/

https://www.fool.com/the-ascent/cryptocurrency/nft-marketplaces/

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