NFTs are quite the word that we’ve all been hearing since 2021. The urban dictionary even declared it the most searched word of the year. If you’ve already searched about what these NFTs are, you probably came across an answer that said something like a token that is non-fungible, unique, etc. Keep reading this, and I’ll take you on tour through what are these NFTs, how do you buy them, where to buy them, etc. Fasten your seatbelts to get some NFT knowledge.
What are NFTs?
NFTs are non-fungible tokens that represent a digital asset in the blockchain. Was it hard to understand? So, they are basically digital tokens that represent any form of asset; these tokens are minted to the blockchain and cannot be altered; see, that’s where the name non-fungible comes in. They can be any kind of asset: digital art, photograph, a song, etc.
Now, I am sure you are already thinking about where you can see these NFTs or get a chance to buy the NFTs? That’s where we are getting into.
NFT Marketplace- One Stop Destination To Trade NFTs
An NFT marketplace is the platform where users will be able to buy and sell NFTs. It is similar to an eCommerce marketplace except for the fact that users will be trading digital assets here instead of physical commodities.
There are a number of NFT marketplaces being built out there on a daily basis. Let’s check out the top 5 NFT marketplaces that are live out there.
OpenSea is the Godfather of all NFT marketplaces. It was founded back in 2017 and crowned itself as the leader of the NFT economy when the market skyrocketed back in 2020. Since then, the maximum number of NFT transactions have been held in OpenSea.
This newbie marketplace from GuardianLink has made its way up in a very short period of time. It is home to play-to-earn game NFTs, brands & celebrity NFTs, etc. If you are looking for an NFT that is not just a collectible but can help you earn by playing games, then jump.trade where you should be now!
Rarible is another NFT marketplace that’s been there since the beginning of the era of NFTs. This Russian-based marketplace has a lot of interesting artworks minted as NFTs for sale. If art collectibles interest you, then Rarible is the perfect place to be.
SuperRare is a blend of both the pop-culture social media platform Instagram and the historic art auction house Christies. It is a new way to interact with art, culture, and collecting on the digital platform.
Foundation is an Ethereum-based NFT marketplace founded in the year 2021. It is an invite-only platform where creators must get an invite code to mint their artworks as NFTs. They are building a new creative economy where artists can create works that will have added value on the Ethereum network.
So, yeah, here we come to the end of the journey. Hope right now you have a bit of knowledge on what these buzzy-fuzzy NFTs are and where you can find them. Now, go ahead and roam around these NFT marketplaces to get a better understanding of these new-age assets. If you are so curious, try buying one or two but ensure that you buy NFTs for a price that you will be able to afford.