However, platforms that don’t offer different types of crypto wallets, like HEN platform, require a template wallet to exchange Tezos $XTZ.Ĭonsequently, you need to choose an NFT marketplace that will match your preferred payment method and type of wallet. In contrast, others like NBA Top Shot only allow a select number of cryptocurrencies (only five available tokens on NBA Top Shot).Īdditionally, some marketplaces allow a certain type of crypto wallets like Metamask, Trust Wallet, Rainbor, or Wallet connect. Some marketplaces like OpenSea allow a wide range of cryptocurrencies (150 token options on OpenSea). Payment Methodĭifferent marketplaces offer different payment options. Here are some of the factors to consider when choosing the best marketplace to match your needs: 1. However, there are few differences from one NFT marketplace to another. Most NFT marketplaces offer similar products and features. Factors you should consider when choosing an NFT Marketplace SuperRare is an excellent example of a curated marketplace. They are typically invite-only platforms that focus on high-quality products. OpenSean and Rarible are the best examples of this type of marketplace.Ĭurated platforms, on the other hand, only allow authorized artists to mint (create) NFT tokens. Self-service platforms also allow users to set whatever properties and royalty fees they wish on their NFTs. These are peer-to-peer marketplaces that allow anyone to create NFTs in a variety of formats, such as photos, GIFs, art, domain names, in-game items, and audio files, to mention a few. Moreover, before you make your first NFT purchase, you need to understand the categories of NFT marketplaces and the type of products they offer. A certain amount of cryptocurrency coins in your wallet.In order to purchase an NFT on a marketplace, you will need to have the following: These NFT platforms are to NFTs what Amazon and eBay are to products. What is an NFT Marketplace?Īccording to Yahoo Finance, an NFT marketplace is a platform where NFTs are stored, displayed, traded, and in some cases, minted (created). One NBA top shot clip is not even necessarily similar to another clip, for that matter. For instance, one Lebron James NBA top shot clip is not equal to everyday clips. Each NFT has a unique digital signature and properties, which makes it different from other NFTs. Unlike fungible assets, NFTs cannot be traded or swapped for each other. Additionally, fungible assets are equal in value – a one-dollar bill can be exchanged for another dollar bill as they both hold the same value. However, this is where the similarity ends.įiat currency and cryptocurrencies are fungible, meaning they can be traded or exchanged for one another. Non-fungible tokens, or NFTs, are generally developed using the same programming as cryptocurrencies like bitcoin and Ethereum. This article takes a deep dive into the NFT market and reveals some of the best platforms where you can buy NFT Tokens. Therefore, due to the diverse NFT marketplaces and platforms, it is crucial to clearly understand where NFTs are sold, the type of marketplaces, and the factors to consider when choosing where to buy NFT tokens. Moreover, this growth resulted in the diverse development of NFTs, NFT marketplaces, and the immense increase of NFT admirers. On comparing both values and the short duration of the growth, this is quite surprising. According to, the sales volume of the NFT market hit 2.5 billion dollars in the first six months of 2021, up from 13.7 million dollars in 2020. Links provided to third-party sites are not under Coinbase control, and Coinbase is not responsible for content on such third-party sites.2021 saw the NFT market explode, with some selling for millions of dollars. ![]() ![]() Information on this page is intended for and directed to customers in the United States only. Securities and Exchange Commission or the U.S. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided. This is not a recommendation to buy or sell a particular digital asset. Information is provided for educational purposes only and is not investment advice. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. or any of its affiliates and Coinbase is not responsible for such content. Certain content has been prepared by third parties not affiliated with Coinbase Inc. Actual cryptocurrency prices may vary.ĭata presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges. *Prices shown are for illustrative purposes only.
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