Non-Fungible Tokens (NFTs) allow creators, collectors, and investors to trade digital assets and works of art securely on the blockchain. With the growing number of marketplaces to trade NFTs, finding trustable venues is becoming more challenging. So, to help you trade easily, we have listed the best NFT marketplaces in 2024 by fee and volume and on different networks.
What Is NFT and How Does It Work?
An NFT (Non-Fungible Token) is a unique digital asset that shows ownership of a specific item or piece of content, whether it’s art, music, or virtual real estate.
NFTs are stored on a blockchain (most commonly Ethereum). Unlike cryptocurrencies, which can be minted in large numbers, each NFT has a unique identifier, making it irreplaceable or “non-fungible”.
NFTs use blockchain technology to verify ownership and origin, ensuring each asset is distinct and trackable. You can easily buy, sell, or create these assets in NFT marketplaces.
What Are NFT Marketplaces?
NFT marketplaces are platforms where users can create, buy, sell, and trade NFTs. These marketplaces function like online stores, but instead of physical goods, they enable the exchange of digital assets stored on the blockchain.
Each marketplace has its own features, fees, and user bases, enabling it to be used for different applications. However, to use an NFT marketplace, you first need to take some steps.
How to Use an NFT Marketplace?
Using an NFT marketplace involves a few key steps:
- Setting up a digital wallet: First, create a cryptocurrency wallet compatible with the marketplace. Common wallets include MetaMask (for Ethereum-based NFTs) and Phantom (for Solana).
- Funding your wallet: Deposit the required cryptocurrency (e.g., ETH, SOL, ADA) into your wallet.
- Browsing NFTs: Explore collections or search for specific NFTs to buy.
- Buying or placing bids: Depending on the platform’s format, you can purchase directly or place a bid on an NFT auction.
- Minting your NFT: As a creator, you can upload and mint your digital asset as an NFT for sale on the marketplace.
But to use an NFT, you need to find a good marketplace. Let’s see how we can choose the best NFT marketplaces.
How to Choose the Best NFT Marketplaces?
When selecting the best NFT marketplaces, consider the following factors:
- Fees: Look for low or gas transaction fees, especially on high-volume platforms like Ethereum.
- Supported blockchain: Ensure the marketplace supports the blockchain you want to use (Ethereum, Solana, Cardano, etc.).
- User-friendliness: Choose a marketplace with a user-friendly interface, especially if you’re a beginner.
- Volume and liquidity: Higher-volume platforms offer better liquidity, allowing faster sales and purchases.
- Creator support: Some platforms offer royalty payments and tools to support artists and creators.
- Security: Ensure the marketplace has a solid track record of security and user protection.
So, based on these features, let’s explore some of the best NFT marketplaces for beginners in 2024.
The Best NFT Marketplaces in 2024 for Beginners
The best NFT marketplaces for beginners are those that are easy to use, have low fees, and offer good security. Some of the best marketplaces in 2024 for beginners include:
- OpenSea: The largest NFT marketplace with user-friendly features and vast collections
- Rarible: A decentralized platform with governance features for users, suitable for both collectors and creators
- Magic Eden: Good for Solana NFTs, known for its low fees and rapid transactions
- Binance NFT Marketplace: Binance provides a familiar exchange interface with NFT integration for those new to crypto.
Fee and volume are also two important factors, especially for beginners. Here are the best NFT marketplaces for beginners with low fees and high trading volumes.
The Best NFT Marketplaces in 2024 for Beginners by Fee
The following platforms contain the lowest transaction costs:
- Magic Eden (Solana)
- Tezos-based platforms (e.g., Objkt.com)
- Polygon-based platforms (MATIC)
The Best NFT Marketplaces in 2024 for Beginners by Volume
The following platforms have high trading volume, which helps beginners buy or sell NFTs quickly.
- OpenSea (Ethereum, Polygon)
- Magic Eden (Solana)
- LooksRare
Artists and photographs are two common groups of NFT users. Here are some of the best marketplaces for artists and photographers.
The Best NFT Marketplaces 2024 for Artists
Artists looking for supportive marketplaces that focus on royalties and visibility can use:
- Foundation: A high-end platform for creators with a focus on premium art and royalties
- SuperRare: A curated marketplace for 1/1 digital art focusing on unique, high-quality work
- Zora: A decentralized platform empowering artists with full control over their works and pricing
The Best NFT Marketplaces 2024 for Photographers
For photographers, NFT marketplaces with a specific focus on image-based digital art include:
- Foundation: Popular among photographers for its high-quality interface and creative community
- Objkt (Tezos): Supports photographers with low fees and eco-friendly minting options
- Sloika: A marketplace designed specifically for photography NFTs, offering unique selling tools
Popular networks also offer NFT marketplaces, which are used by numerous artists and collectors worldwide. Here are the best marketplaces on Ethereum, Cardano, Solana, Tezos, Polygon, Algorand, and Avax.
The Best Ethereum NFT Marketplaces 2024
Ethereum is the largest and most widely used blockchain for NFTs. The top Ethereum NFT marketplaces include:
- OpenSea: The leading Ethereum NFT marketplace, offering the largest selection of NFTs
- SuperRare: A premium Ethereum platform focused on 1/1 art and exclusive collections
- Rarible: A decentralized platform to mint and trade Ethereum NFTs
The Best Cardano NFT Marketplaces 2024
Cardano’s growing NFT ecosystem has its own marketplaces that offer low fees and eco-friendly transactions:
- JPG.Store: The leading NFT marketplace on Cardano, offering easy-to-use features and low transaction costs
- CNFT.io: A popular platform for Cardano NFTs with a wide range of collections and low fees
- Tokhun.io: Supports creators with tools to mint and sell their NFTs on the Cardano blockchain
The Best Solana NFT Marketplaces 2024
Solana’s low fees and high-speed transactions make it a popular choice for NFTs:
- Magic Eden: The largest Solana NFT marketplace, known for low fees and high trading volumes
- SolSea: A Solana-based platform offering integrated licensing options for NFTs
- Exchange.Art: Focuses on 1/1 Solana-based artwork and caters to artists and collectors
The Best Tezos NFT Marketplaces 2024
Tezos offers an eco-friendly and low-cost blockchain for creators and collectors:
- Objkt.com: The largest Tezos NFT marketplace, offering a wide range of digital art and collectibles
- Hic et Nunc: A popular Tezos platform with artist-friendly features and low minting costs
- Kalamint: Another Tezos-based marketplace that supports artist-friendly tools and low fees
The Best Polygon NFT Marketplaces 2024
Polygon’s fast and low-fee blockchain makes it popular for users seeking cheaper alternatives to Ethereum:
- OpenSea (Polygon): Offers integration with Polygon for gas-free NFT trading
- Rarible (Polygon): Supports Polygon-based NFTs with low transaction costs and flexible minting
- TofuNFT: A marketplace specializing in gaming and collectible NFTs on Polygon
The Best Algorand NFT Marketplaces 2024
- AB2 Gallery: A popular Algorand NFT marketplace with ease of use and minimal fees
- Rand Gallery: One of the most active Algorand-based NFT platforms, offering a wide range of collections
The Best Avax NFT Marketplaces 2024
- Kalao: A marketplace focusing on metaverse assets and digital collectibles
- Joepegs: A popular AVAX NFT marketplace with a growing number of collections and low fees
Summary
Choosing the best NFT marketplaces depends on several factors, including fees, trading volume, and user-friendliness.
In 2024, platforms like OpenSea, Magic Eden, and Foundation continue to lead in volume and accessibility, while blockchain-specific platforms like JPG.Store (Cardano) and Objkt (Tezos) offer specialized environments for creators and collectors.
Whether you’re an artist, photographer, or NFT investor, there’s a marketplace tailored to your needs.
