In our previous article, “An Introduction to NFTs”, we touched on all the basics of what an NFT is, how they work and the different kinds of NFTs.
👀 In this blog article, we’ll provide an NFT marketplace list of online locations where NFT holders can buy, sell and trade the NFTs.in their collection, as well as the different online tools that can help NFT buyers browse the markets for best value.
💫 NFT MARKETPLACES
💱 There are many locations, both online and in the real world, where you can purchase an NFT. NFTs are primarily bought and sold on online NFT marketplaces where the price is determined by the market. Common NFT marketplaces that can be found online include:
- OpenSea – the world's first and largest web3 marketplace for NFTs and crypto collectibles and current leader in NFT sales.
- LooksRare – a community-first marketplace for Ethereum-based NFTs and digital collectibles where traders and collectors can earn rewards.
- X2Y2 – the #2 NFT marketplace on Ethereum that offers lower platform fees.
- SudoSwap – a decentralized NFT marketplace that utilizes Automated Market Maker (AMM) technology that powers a decentralized exchange (DEX). This allows NFT owners to become liquidity providers by creating a trading pool where, as the liquidity provider (LP), they can collect the trading fees.
- Rarible – profiles top current NFT collections and allows collectors to form a community.
- SuperRare – a marketplace to collect and trade unique, single-edition digital artworks.
- Nifty Gateway – collaborates with top artists and companies to produce limited edition, high-quality Nifties that are only available on their site for a short period.
- Foundation – a community-curated marketplace that requires creators to be invited by other creators who are already part of the platform.
- Magic Eden - while most of the above NFT marketplaces deal primarily with Ethereum-based NFTs, Magic Eden is the leading marketplace for Solana-based NFTs. We plan on covering Solana and several other altcoins in future blog updates.
🏬 Regarding other options for NFT marketplaces, there are also real world destinations where you can purchase NFTs. NFT art galleries 🖼️ can be located in real brick-and-mortar locations. Many of these are starting to pop up in large cities across the globe 🌎. Some of these will even sell you the custom-made screen built to display the crypto art piece.
🧰 ONLINE TOOLS FOR TRADING NFTs
📅 A calendar of upcoming NFT sales and releases can be viewed on sites such as Rarity Tools. Primarily dedicated to ranking generative art and collectible NFTs by rarity, this rarity checker website serves as a valuable tool in determining how rare an asset truly is.
❓ Why use rarity checker tools?
Every NFT in every collection has a different set of traits and properties that contribute to its ranking. NFT rarity checker tools list these in property sections according to their given score. These tools offer a complete rarity score based on the sum of the trait scores for every NFT listed.
Along with Rarity Tools, other rarity checker tool websites include Rarity Sniper – this rarity tool website also offers listed NFTs on the Solana blockchain. Other options include Rarity Sniffer, ChainWitcher, Rank NFT and Trait Sniper.
Another helpful tool for browsing NFTs across marketplaces is gem.xyz. Gem is an NFT aggregator website that helps users buy NFTs across multiple marketplaces in a single transaction. The site also allows buyers to pay with any ERC-20 token rather than spending their ETH, as well as view analytics such as sales volume, floor prices, and rarity-based ranking for NFT collections.
By offering a holistic view of all the listings across a range of different marketplaces, Gem assists NFT traders with bulk buying, and is a valuable tool in finding the cheapest NFT prices.
🔎 FINDING TRENDING NFT PROJECTS
So what is the best way for someone new to crypto to find the hottest trending NFT projects for investment? Try following these steps:
- 👀 Look for trending projects. Search popular NFT marketplaces such as OpenSea. Other sites include the NFT ranking site CryptoSlam, and NFT data resource website NonFungible.
- 👨💻 Follow NFT collectors. Top NFT collectors trade large volumes of NFTs and are often the first to find hot upcoming projects. They can best be found on social media platforms like Twitter.
- 👥 Join NFT communities. There are multiple online communities for NFT enthusiasts that can offer the latest intel of projects. Many of these can be found across the social media spectrum (with many on Discord) and online forums.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Bloom does not recommend that any cryptocurrency or NFTs should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.