The 5 Best Ethereum NFT Marketplaces: Where to Buy NFTs?

While many wonder if the DeFi boom is over, another revolution is brewing in the NFT space. NFTs are unique and therefore not 1:1 against others tokens interchangeable. All assets that are tokenizable can be NFTs. This includes for example (digital) works of art, trading cards, game items or crypto domains. Just a few weeks ago, we introduced you to the top three NFT cryptocurrencies. Today we will highlight the five largest NFT marketplaces.

Why are NFTs revolutionary?

NFTs can be used to make ownership transparent on a public basis Blockchain to map. This allows them to store value just like real items, although additional copies are easy to make. For example, the original picture of the Mona Lisa is worth significantly more than an identical copy, since everyone knows which picture is the original. The revolutionary thing about NFTs is that they can create scarcity in the virtual space for the first time.

Two token standards in the NFT sector that you need to know

Currently there are two Ethereumtokens-Standards for NFTs. When there is the most widespread ERC-721 standardthe creation of individual tokens make it possible. For that he uses tokens-Standard for each NFT a new smart contract.

apart from that there is ERC-1155 standardwhich allows for bundled transactions of NFTs and a theoretical creation of infinitely many tokens, made possible with a single smart contract. The ERC-1155 standard is also known as a multitokens-standard because it handles the storage and creation of various NFTs in a single smart contract. It is superior to other ERC standards because it is cheaper and more efficient.

There are an increasing number of marketplaces to choose from when trading NFTs.

5. Enjin Marketplace: A marketplace for gamers

Enjin Marketplace is the official marketplace for the Enjin-based NFTs. Users can easily and quickly trade Non Fungible Tokens through the website. Additionally, Enjin released one of the first trading platforms for NFTs and is also credited with inventing the ERC-1155 standard. To buy NFTs, you need ENJ tokens. In addition, you must Ethereumso that transactions can be processed.

Enjin marketplace (Screenshot)

The Enjin platform is specifically aimed at gamers, with various items that can be used in multiple games. The Enjin marketplace has a significant marketplace trading volume, displays thousands of items and offers a clear web interface. According to DappReview, there are more than 1 billion ERC-1155 items with over $1 million already deposited to ENJ.

4. Rarible: Get RARI tokens to trade NFTs

Rarible allows creation and trading of NFTs. In addition, the platform has its own managementtokens called RARI. This tokens makes it possible to participate in the vote on important issues. Users can keep the generated NFTs, give them away, or sell and buy them on the marketplace. Users of the Rarible platform will also receive RARI tokens as a reward for trading NFTs.

NFT Marketplace Rarible
Rarable Marketplace

The interface allows NFT producers to set rules. This means, for example, that they get part of the price paid for each subsequent property transfer. In addition, the marketplace offers a clear user interface that is constantly evolving.

3. SuperRare: A marketplace for artists

SuperRare, as the name suggests, deals with super rare art. Therefore, it is an NFT marketplace that specifically deals with digital artwork. The platform differentiates itself from other NFT marketplaces with social profiles, a mobile app, live auctions and advanced payment options.

SuperRare NFT Marketplace
SuperRare Marketplace

Artists have sold more than $3 million worth of art through SuperRare.

SuperRare stats
SuperRare stats

2. Decentraland: Marketplace in a virtual world

Decentraland is best described as a Minecraft-like virtual world where you can trade NFTs. Users can also purchase unique batches that they can freely develop. You can also play different games in the virtual world. There is currently a Halloween special where you can win boxes from which you get different things:

Within Decentraland, MANA Holders can tokens as means of payment for the various NFTs. In addition, MANA gives users a right to management in Decentraland. This allows the community to vote for itself on allowed NFT contracts, marketplace rules and other processes in Decentraland.

1. Opensea: Universal Marketplace for NFTs

Opensea is the largest trading platform for NFTs to date and allows trading of all types of NFTs. Therefore, users can trade, buy and sell art, game items, collectibles, domain names, etc. on Opensea. The diversity of offer puts all other marketplaces in the shade. In addition, the platform has several auction functions and is extensively integrated with the crypto infrastructure.

Opensea Marketplace

Although Opensea is the largest NFT marketplace in the crypto space, the platform does not have its own tokens and currently serves solely as an interface for trading NFTs. For example, Decentraland, SuperRare, Enjin NFTs can be traded on Opensea.

Universal NFT marketplace
Opensea Marketplace

The platform thus represents a universal NFT marketplace.

Looking to buy Ethereum (ETH)?

This is possible, among other things, via eToro. eToro offers investors, from beginners to experts, a comprehensive crypto trading experience on a powerful yet easy-to-use platform. We took a closer look at eToro.

For eToro review

Leave a Comment