Best NFT Markeplace

Not long ago, even professional traders and investors did not know what an NFT token was and what its benefits were. But already during the first half of 2021, the financial market for these assets approached the $2.5 billion mark! Although just a year earlier the level was 13.5 million.

That’s why there is an active discussion about NFT among the knowledgeable people today. This is not surprising, because digital art – the most unusual and fresh trend in recent months. That is why the demand for this token increases not only among collectors.

Why buy NFTs and where to buy them

In 2020, the total number of all transactions in this sector jumped by 300%. In the numerical equivalent, it exceeds the amount of $250 million. Analysts named such reasons for the growth of interest in the token:

• Security. Blockchain-based registries are capable of ensuring that the ownership record cannot be edited. This prevents NFT token from being copied or deleted.
• Indivisibility. You can buy or sell mostly only 100% of a token. Fractional copies are a rare exception.
• Scarcity. A feature that makes a particular cryptocurrency a valuable investment. Each NFT exists in a single number. And therefore their value can exceed several hundred thousand dollars.

You can make trades with them on special platforms, about which a little later.

What you can sell through NFT

In fact, anything you want, from music to lyrics. Digital products that can claim to be unique.

It is not only art collectors who pay special attention to NFT. But also gamers and even celebrities. For example, a famous singer from Canada – Claire Bouchet – sold several pictures of his own authorship in the digital format NFT. And American DJ Justin Blau is now also known for being the first musician in the world, who sold his album in this format. And was able to get for it 11.5 million dollars.

However, the present record price established the picture “the First 5 thousand days” by Michael Winkelmann. The work is truly unique in its kind. This image in a digital format .jpg, stacked of five thousand drawings, created one by one a day. The lot was sold for 69 million dollars. The painting was the first piece of art from Christie’s auction house to be sold in the NFT format.

But it is not only art or music that is offered in this format. For example, Christa Kim, an artist from Canada, sold a mini-model of a house with Martian decor. And she got more than 500 thousand dollars for it.

The most popular NFT markeplace

These are special platforms where you can perform any operations with NFTs – buy, sell, or exchange them. In addition, you can not only buy and store NFT tokens, but sometimes even create them. You can find a lot of such “trading centers” today. But the most popular of them are the following:

Axie Infinity

It is worth admitting that the NFT universe is quite heterogeneous. For example, the computer game strategy Axie Infinity is the leader in terms of the number of users among other platforms related to non-exchangeable tokens. According to analysts, about 40,000 players trade about $30 million worth of tokens every day. The subject of transactions are not only virtual pets, but also territories, items and other elements of the game.

Yes, at first glance, this activity can not be called serious. However, the game is not the first year it attracts the eyes even of professional figures of the financial industry. The game offers several monetization options, including commissions for buying and selling and specific actions to promote gameplay.

Binance NFT

The founder of this NFT marketplace is one of the largest cryptocurrency exchanges in the international financial market: Binance. Therefore, although the platform has not yet entered any relevant ratings, it is quite obvious that it is only a matter of time. After all, the exchange already has several well-known projects on its account.

On the platform are already presented objects in digital format, which offered the Hermitage. It was also announced a collection of music from the famous Russian musician under the pseudonym of LJ. And this is not the end – celebrities continue to show their interest in this NFT-platform.

The breakdown into categories is quite standard, so it will be very easy to find the items you are interested in. And though so obvious interest from Russian celebrities, many exchange admirers and simple observers regard as specially planned PR-campaign for advancement of Binance NFT, it will be interesting to see how soon this project from Binance will take its place in the niche of leaders.

NBA Top Shot

Refers to the category of sports NFT-platforms. The daily turnover of the trading platform, in comparison with others, is relatively small – not more than $400,000. The site has an official license from the NBA and offers users to trade with really unique goods – legendary moments from the real games of American basketball teams.

For example, not too long ago, one user sold another memorable Zinone game moment for $80,000. But the average deal is within 10 thousand. Although, as you can see, there are also particularly rare and valuable NFT-goods. The creators confidently call this project “a whole new word for fandom.”

OpenSea

This trading platform for non-exchangeable tokens has been named the largest in the world in terms of the total value of the NFT assets stored here. Every day thousands of customers make tens of thousands of transactions totaling more than $40 million.

Here you can find a huge selection of paintings, art, music tracks, and collectibles, for example, from the category of sports or computer games. There are even digital lots that are difficult to put into any category. Moreover, OpenSea works with three cryptocurrencies – ETN, KLAY and MATIC. Each of the aforementioned blockchains also allows the creation of NFTs.

What are NFT tokens?

The full NFT acronym sounds like a non-fungible token. Which translates to “non-fungible token”. It is worth studying it in more detail to understand its structure.

Blockchain and digital currency have been known about for a long time. However, NFT is a completely new phenomenon in this peculiar universe. The fact is that these tokens first appeared just over a decade ago. But the first time these projects entered the financial markets was only very recently.

For the first popularization of the non-reciprocal token, we can primarily thank Crypto-Kitty, a game whose goal is to breed and raise digital kittens. Because of its subject matter, it has become insanely in-demand. And the prices traded for these cats could often exceed a hundred thousand dollars.

What is the difference between NFTs and regular tokens?

In simple terms, blockchain is a database that can be stored on a large number of computers at one time. If you think of the standard Internet, the hardware in it is connected to specialized nodes, which are often Internet service providers.

Blockchain operates on the exact opposite system. It has no nodes. In the case of blockchain, all the data published there is stored on all the devices at once.

As for a token, it is essentially a register entry that is part of the blockchain. And the distinguishing feature of most of these records is interchangeability. As an analogy, we can give an example with both fiat and cryptocurrency. For example, a particular dollar or etherium can easily be replaced with a dollar or etherium held by another holder. But at the same time, it is obvious that every digital asset cannot be interchangeable.

For example, a painting by one artist will not be identical to a painting by another master. And the song of one singer will not be replaced “equally” with the song of another. This concept was designed to be able to move items that are one-of-a-kind into a network format.

Precisely because each of the NFT tokens is unique and one-of-a-kind, it could not originally be divided into parts. Although such models are already being developed.

What the future holds for the NFT

It cannot be overlooked that this category of the market is growing amazingly fast today. If only because this blockchain technology has undergone many very significant changes in recent years. However, questions from potential customers have not become less.

But developers are not going to stop. For example, in the near future, one of the options for using a non-interchangeable token will be the ability to record unique documentation on the blockchain. Any important papers could be issued in the NFT format, thus preventing the risk of creating a fake copy.