Top NFT platforms you should be familiar with
Have you ever wondered why NFT has become so popular lately? What is the secret of those magical three letters, and what do they mean? And last but not least, what are the top NFT platforms that every crypto enthusiast needs to know?
Yes, too many questions in such a short time. But when it comes to the crypto industry, questions are never enough to get acquainted with the current top NFT platforms in the world. First, it is essential to get acquainted with the term NFT.
What is an NFT, and why is the crypto world crazy about them? Let’s start with the most significant basics that will be essential for you later to understand the true importance of top NFT platforms, shall we?
NFT – A definition and explanation of it
The briefest and most precise definition of the NFT is that they represent and are short for non-fungible tokens. They are unique crypto tokens linked to a digital connection such as artwork. They’ve been around for several years now.
In other words, it’s a non-interchangeable unit of data stored on a digital ledger. It’s associated with videos, photos, audio, 3d Models, and different digital files types as unique items.
However, 2021 is the year of great importance since NFTs have exploded in popularity and, therefore, public consciousness.
Cryptographically unique tokens
It’s essential to know that tokens that are unique cryptographically are titles of ownership over digital content that includes music, art, or videos. Nonetheless, the digital scene is one that lit a fire under the NFT market that we’ll discuss in this article as well, with record-breaking sales.
Therefore, enthusiasts have seized on NFT mania after another, dropping, without exaggeration, even millions of dollars on CryptoPunks, Loot, and Bored Apes that represent NFT projects in general. But, the main question is where and how to buy NFT? Let’s find out!
Get to know the NFT marketplace
To know the top NFT platforms, it’s essential to know that a flourishing virtual high street of non-fungible token marketplaces has sprung up, selling collectables and digital art at every conceivable and possible price point.
The NFT marketplace is undoubtedly the future of the alternative universe, differently called METAVERSE. It will have crucial components once an extraordinary functional firm develops them.
In the crypto world, the Non-Fungible marketplace dominates in the crypto-verse with numerous assets and makes billions of dollars as a trading volume without delay.
How to buy an NFT?
If you’re asking yourself how to buy an NFT, here’s a brief step-by-step guide that will help you with that:
- Choose a marketplace where you’d like to buy the NFT from,
- Register your account there,
- Browse the NFT of your liking on that marketplace,
- Bid for the NFT you want,
- After completing the successful bidding process, complete the transaction.
Now that you’re familiar with the buying process, it’s time to get to know some of the top NFT platforms that proved to be tremendous and unavoidable for a considerable number of crypto fanatics!
What are the top NFT platforms in the world at the moment?
There are several NFT marketplaces in the era of cryptocurrencies that survive the tide with the dominative competitions. One of the most crucial and inevitable roles in making an NFT marketplace is the Blockchain.
At the moment, we have several NFT platforms that are considered the most popular and beneficial. Below you will learn more crucial information about them that will be of great importance to you when choosing your preferred NFT platform in the near future!
The Axie Infinity, in comparison to the numerous NFT marketplace pioneers, has many different stands that deal with gaming assets. Because of that, Axie Infinity became considered one of the Top NFT platforms on the planet right now.
By focusing on the video game assets, it’s clear that the Axie Infinity platform can make approximately billions of dollars as the market capitalization. Interestingly, Axie Infinity has held around 270 million tokens on the platform. It has made futuristic and creative assets that most crypto enthusiasts and the gaming community loved!
In addition to that, they’re more responsive, and the UI regulates to attract new users with more substantial influence. These are the imperative things to consider as the NFT marketplace. Axie Infinity platform lets users interact with something, collect them, and sell them as non-fungible tokens.
OpenSea is a user-friendly and wide-open marketplace platform with a trading volume of over $10 billion in one year. Based on the Ethereum blockchain, this platform dominates the non-fungible marketplace with a straightforward wipe out of issues and glitches.
It allows traders to list the non-fungible tokens created on different platforms. In addition to that, OpenSea allows its users to acquire a very efficient asset into the minting process of the NFT.
Since OpenSea is based on the Ethereum chain and its support is high from the contributor community, the marketplace can provide more than 150 payment tokens support. Therefore, the compatibility and the asset increases in the market and creates an incredible benefit for broader market reach.
Rarible refers to an Ethereum-based platform that facilitates the development, sale, and buying of ownership rights to digital works of art via NFTs. As we’ve mentioned above in this article, non-fungible tokens are one-of-a-kind crypto assets that represent works of art. It’s one of the pioneering and oldest NFT marketplaces in the crypto world, from minting the NFTs to linking sellers and buyers.
It’s no secret that Rarible is among the most influential and Top NFT platforms. This is because of its deeper existence in the market. Its well-known RARI token has managed to form a government space by declaring the variable as the system that’s decentralized and a new legacy.
Also, Rarible consolidates with numerous popular ventures to influence the crypto space by establishing a crypto commodities ecosystem. When it comes to NFT minting, it’s based on the Ethereum blockchain platform, and it is done expertly. Therefore, it’s more reliable and convenient for everyone interested in cryptocurrency.
CryptoPunks are among the earliest examples of non-fungible tokens on the Ethereum platform. It is a series of 10,000 characters with unique attributes and pixel art aesthetics that are randomly generated. Today the only way you can own one is to buy one. It is also on our NFT art marketplace list.
You can head to CryptoPunks, the creator of the Larva Labs, where an enormous number of sales take place. Purchasing one can be costly, starting from 94.99 ETH.
Another platform that’s among the top NFT platforms at the moment is Super Rare. It supports all kinds of non-fungible tokens from Music, Art, videos to numerous other NFT assets. It represents a bridge between the traders and influences the market by contributing a responsive and smooth NFT minting medium that is significantly efficient from different minting strategies.
Decentraland is entirely based on the METAVERSE, representing the new fantasy world. In other words, Decentraland includes an open world that has the same functionality as the real world. With cryptocurrency, users can purchase lands, assets, and numerous things on this platform.
It has a market capitalization of more than 6 billion dollars, making the Decentraland platform emerge as the giant monopoly in the crypto meta platform. This platform is considered the forerunner to what traders experience in the crypto market based on alternate verse now.
Last on our Top NFT platforms list, but not the least important, is KnownOrigin. All of its artwork files are held on the IPFS, which, for underlying assets, adds a measure of protection. It represents a marketplace that shuns the craziest aspects of the NFT world, with a strong focus on digital art. Therefore, you’ll find no cute monsters or wacky avatars here.
KnownOrigin is very simple to use, at the risk of sounding like a broken record. It’s required from you to connect a wallet, and you’ll be bidding on your coveted non-fungible tokens in no time.
To sum up, KnownOrigin has just $6.9 million all-time trading volume, which is a pretty small amount. Like super rare, KnownOrigin aims to provide a more gallery-like and curated experience for the astute NFT connoisseur.
Should you consider investing in NFT?
Now that you’re familiar with the Top NFT platforms out there, the final question is – “Is it worth investing in the non-fungible tokens? Are NFTs for sale worth it or not, and what can you expect from investing in them?
Since the NFT market is a speculative market driven by the fear of missing out and scarcity, there isn’t assurance that the non-fungible token you buy will be valuable with time.
However, if you’re interested in supporting an independent artist and can handle losses time after time, NFTs can be a pretty good collectable for your digital library. Ultimately, anybody who can draw, craft, compose, build, or even customize physical products can also start a business of making a person’s digital non-fungible tokens into a physical product.