Valuable is an online marketplace verified on the Ethereum blockchain. It is an online marketplace where you can find verified signed tweets. Take, for example, the evergreen observation-‘was super fun tbh haha’ popped by Tesla CEO Elon Musk has a standing offer of $10,000. And that too, his one among many!
It might be mind-boggling, right? But that is what exploding NFT market has to offer you. NFT stands for non-fungible token. NFTs are a digital asset serving as a secure record of ownership of items stored on select blockchain ledgers like Ethereum and Solana.
The plus point of NFT is that it can’t be copied or altered. This makes it suitable for tracking ownership! Moreover, unlike currency or even cryptocurrency, which can be exchanged with other remuneration of the same denomination, NFT cannot be. Hence, it is associated as proof of origin.
And what can you find here? Almost anything, be it CryptoPunks blockheads, short films, domain names, virtual cannabis farm; you name it, you get it. However, the central area of interest is taken up by digital art. For example, a digital collage by crypto artist Beeple was sold for $69 million at the auction house Christies. Other areas of excitement among investors are sports collectibles and video games.
How to buy NFTs?
The NFTs are bought with ether(ETH), the currency of the Ethereum network. ETH can be converted to U.S. dollars on exchanges. Ethereum allows users to build an app, store personal data and govern rules for complex financial transactions like smart contracts.
Establish a digital wallet that will allow you to store the cryptocurrency. Then, use these platforms to connect to marketplaces that sell NFT. NFTs are generally sold in an auction; hence you’ll have to put in a bid first.
Where to buy NFTs
NFT offers a perfect market for artists to sell their work and recoup a percentage of resales through a royalty agreement. Thus, technology enthusiast is seen as a way to financially support artists while flexing their collections.
The economy proclaimed by these sites is more than just a fad. In August 2021, Market Watch reported a $3.4 billion transaction volume on Ethereum by OpenSea. Likewise, there has been a steady flow of investors like Mark Cuban and A16z Crypto. Though there have been occasional reports of thefts and frauds, it has not deterred marketplaces from venturing into the NFTs.
Here are 17 marketplaces you can get started!
SuperRare is a peer-to-peer marketplace ideal for buying and selling single edition digital artwork. The site is home to a curated selection of artists and brands. The site showcases art with sales prices and timed auctions in the tile of windows. Active social feed tracks the upcoming exhibition. In addition, a high-touch editorial page includes profiles and statements of the featuring artists.
Transaction: Ether (ETH)
Location: Newark, Delaware
Foundation has been hosting NFT sales since its launch in February 2021. Curated artists listed on the platform are Nyan Cat, Pak, Aphex Twins, and Edward Snowden. The trending auctions are listed on top, followed by the featured artists. The creator’s works are listed in a grid of cards. Starting from the base price, the bids can be placed for 24 hours.
Transaction: Metamask wallet with ether
Location: Los Angeles
It is a centralized U.S. dollar marketplace working with artists. Nifties is a branded term used for NFTs. Sales are structured around drops. After the sale period ends, the nifties can be sold on the site’s peer-to-peer marketplace. Featured artists on Nifty Gateway are Beeple, BD White, Cam Hick, and Playboy.
Location: New York
Digital art and more
Mintable is a two-sided marketplace allowing users to buy and sell NFTs. Creators have options to mint free “gasless” NFTs, short-run printable series, or traditional transaction-based items. After setting up a profile, buyers can purchase items or participate in auctions.
Transaction: Ether (ETH) or ZIL integrated with MetaMask
OpenSea is by far the largest marketplace for user-owned digital goods, supporting more than 300,00 users and handling trade volume of more than $4 billion. You can find anything and everything on the marketplace, which can be filtered by price and sales status. The stats tab ranks the sellers by volume, sales price, and the assets sold. Sales can be netted out by direct purchases or auctions.
Transaction: ETH, USDC, DAI, and 150 other payment modes
Location: New York
NBA Top Shot
The NBA-licensed game allows fans to collect and trade digital moments from NBA. In addition, the collectors can display their collections and trade assets in the company’s blockchain. It supports more than one million users with a daily turn-in of at least 150,000 users.
Location: Vancouver, Canada
Sorare is a fantasy soccer league where users can collect collectibles as NFTs and then use them for online competitions. With over 180 licensed clubs, the players can purchase digital players and outcompete others by scoring multipliers.
Axie Infinity allows players to collect cartoon pets, battle with players and build farming kingdoms. Characters and plots in the game are encrypted as NFTs, which can be purchased by players online itself. The site sees a traffic of more than 23 million monthly players, and the virtual land plots fetch more than $20,000!
Location Ho Chi Minh City, Vietnam
Venly is another peer-to-peer marketplace allowing users to create, buy and sell game characters and other collectibles. A partnership with Polygon enables users to transact in U.S. dollars itself. Polygon connects Ethereum compatible blockchains networks link Binance. This allows the users the liberty to transact without the need to get cryptocurrency first.
Location: Antwerp, Belgium
Take the metaverse concept to logical conclusions, and you can explore casinos and visions of space. Decentraland allows the player the same with the builder tool that gives the player to amass power. It is playable with a V.R. headset or directly from the web browser. The inbuilt marketplace allows the user to buy and sell lands, merchandise, and even names!
Location: Beijing, China