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Non-fungible tokens have hit the crypto world with great hype. At the beginning, many people thought that they were a fade but as of now they have stood the test of time. They have become one of the top digital assets on the blockchain.
Interestingly, analysts concur that investments in NFTs increased by about 299% in 2020 alone. Thus, NFTs creators and resellers are racking in millions of dollars. Basically NFTs are tokens on the blockchain that prove ownership of rare and scarce digital assets. When it comes to these digital assets, at times, we fail to tell why the NFTs create such a big business.
Imagine people creating imaginary cats and kittens on the blockchain and tokenize them to make huge money. There are cases of people creating alien organisms on the internet that fight one another, which sell so much. What about NFTs arising from people capturing cameos of soccer or golf players and tokenizing such moments, making them unique, rare and scarce. This is the madness existing in the NFTs economy, as we know it today.
Whatever the case, the reality is that the NFT business is expanding year by year and millions of people are joining the frenzy. So, where do people create, buy and sell these NFTs? This article outlines the best NFT platforms and NFT marketplaces.
Opensea
Definitely, Opensea is one of the biggest platforms that allows people to create their own for NFTs.
People can upload their various artworks and collectibles and turn them into NFTs. Developers can create different NFTs with minimum guidance. Also, users buy and sell various digital assets including card games, collectibles, domain names, sports, virtual worlds and digital games. This includes virtually anything one can think of in the NFTs arena such as Axies, ENS names, CryptoKitties, Decentraland. Although opened in 2018, Opensea holds more than 4 million assets, 135 dapps, with a trading volume of over 4,000 ETH per month.
Rarible
This is also a notable site for creating and trading NFTs. Rarible, a Russian based platform launched in 2020, mainly focuses on art assets. Creators can sell various artwork such as books, music albums, digital art, or movies. The main categories that exist on Rarible include art, games, memes, photography, metaverses, music and domains.
Strikingly, people can create their own NFTs, by uploading motion graphics and digital images. Rarible has its internal token, the RARI, which enables it to create a decentralized autonomous organization. This is because the RARI is its governance token.
Web link - https://rarible.com/
Decentraland
Decentraland is a virtual world built on the ethereum blockchain which allows its citizens (users) to create and monetize features found in the real world, such as virtual properties and images. The land upon which people create these assets is also a virtual property. Thus the land is a non-fungible digital asset.
In this shared virtual world people can buy and sell land and other properties in the form of NFTs. In addition to the NFTs, people should also have the fungible assets in order to participate in its affairs. Due to the inspiring experience people have by participating in Decentraland, millions of users participate in trading the NFTs.
Nifty Gateway
Nifty is one of the leaders in creating and trading NFTs.
The platform mints different types of NFTs which include music, videos and other artworks. This company blends modern technology and collectibles to create quality tradable digital assets. In order to ensure high quality, Nifty team curates the content. For example, it has murals of famous sports players like Kobe Bryant and Mesut Ozil. There are also works of renowned musicians and DJs such as Deadmau5 and Gramatik which exist as NFTs.
Web link - https://niftygateway.com/
Superare
Superare is a social platform involved in creation and trading of crypto art.
The platform enables artists to create authenticated single digital edition artworks on the ethereum blockchain. Traders purchase the NFTs at asking prices or they can offer bids. Many artists prefer Superare because of its reward system. Apart from the sale price, the artist gets a 10% royalty whenever the piece of art changes hands.
Web link - https://superrare.co/
Mintable
This is another reputable platform for various creators to create digital assets in the form of NFTs.
Individuals can turn their artwork, files, images and many more into NFTs, with very minimal guidance. For example, musicians can turn rare music album covers into digital assets. When people download the music, they can as well obtain the related NFTs. Therefore, it is possible for people to convert their content into virtual assets, which people can buy and sell.
Async Art
Async Art, built on the Ethereum blockchain, to create programmable artwork on the blockchain, which they tokenize.
The unique thing is that Async operates at two levels, enabling separate ownership and control of any form of creative work. For example, artists can turn digital paintings into NFTs. Another unique element is its capacity to enable collectors to become part of the artwork itself. This is because they can change the background of the artwork.
NBA Top Shot
NBA Top Shot is a blockchain application for the National Basketball association, built on the Flow blockchain and launched in 2020. The NFTs of NBA Top Shot are collectibles which include videos with specific or unique information. For instance, the video may capture particular moments such as a game winning streak. It may include statistics of players or seasonal averages. Therefore, individuals can create their own NFTs which meet its criteria.
Usually, these moments are sold in categorized packs based on rarity in terms Common, Rare and Legendary. So, an NFT represents a moment, which is a digital collectible. People can therefore, buy and sell these moments (NFTs). The daily sales of the NFTs at times exceed $6 million.
Foundation
This is a community based digital platform for buying and selling digital collectibles.
It is designed to work with digital creators, crypto natives, and collectors. Unlike other platforms, artists participate as per invitations. The artists who are already part of the community invite other gifted individuals to join Foundation. After the artists upload their content, the community is involved in curating them.The artists earn 10% wherever a piece of art in the form of NFT is sold. This is in addition to the initial selling price.
Conclusion
It is evident that the NFT market is expanding by day. This is because millions of
people are into the NFT’s business. And many platforms such as Opensea, Mintable rare, NBA Top Shot, Decentraland, Foundation and Async Art enable people to upload their collectibles and work of art, turning them into NFTs.