Biggest NFT Marketplaces Giving You The Spice On NFT Craze
Biggest NFT Marketplaces
Innovation gets triggered whenever an average day in human life disrupts the cycle at the time of crisis. No one knew that the big banks knowingly gambled the client's money in high-risk ventures taking down the US into the financial crisis.
The aftermath of such a big plot made the tech geeks introduce blockchain to change the broken system. Earlier, people revolted on the concept of blockchain, but after understanding its role and how cryptocurrencies and NFTs are built on, it is difficult to change, hack or cheat the system.
As people tend to accept Blockchain technology, one another blockchain evolution came in the picture known as ethereum. Ethereum is a form of cryptocurrency that provides versatility to the NFT marketplaces and allows developers to implement smart contracts.
You would be surprised to know that all the NFTs or non-fungible tokens have a smart contract attached to them. The NFT is also the goods that can be seamlessly obtained in cryptocurrency exchange, mostly preferred Ethereum. There is one more functionality of Ethereum as it is proven to be one of the best stock trades on platforms like Webull.
Without getting distracted by the topic, we want to say that the new form of money in crypto and the NFTs are the digital goods that one purchases with crypto money.
In this blog, we will be answering the question “What is the biggest NFT marketplace?” and along with that we will be suggesting whether or not building your own NFT marketplace can be a new shift to the wind or not.
To begin with, let us discuss the thriving virtual street of all the biggest NFT marketplaces selling commendable digital art and collectibles.
Introduced in the Jan of 2018, the very first decentralized NFT marketplace was ready to disrupt the ecosystem of NFT marketplaces - OpenSea Clone. The founders Alex Atallah and Devin Finzer build one of the biggest NFT marketplaces to buy, sell and trade NFTs. The OpenSea comprises all kinds of digital items at OpenSea. The platform has a broader horizon. Besides digital art, one can also explore the collectibles, domain names, game items, character costumes, and all other things offering a digital representation of the physical assets. When operating the OpenSea platform, you will be introduced to six status pills that are being located at the top of the sidebar. I.e
- On sale
- Has offers
- Has Bounty
The pill mentioned above filters come quite handy and can also be seen in OpenSea clone applications. Whenever someone is looking to purchase because once you click the confirm button, there is no going back.
With the rise of NFT and the rapid globalization of communities, some economies are proven to be beneficial. And as a result, in the gaming world, players can seamlessly create and place value on various digital goods and services.
This way, the biggest NFT marketplace for gamers came into the picture - Axie Infinity. The players can seamlessly sell the goods they have earned in the gaming world and sell them for real-world currency to large corporations and get it minted on the platform itself.
The platform serves the people looking forward to earning money from their hobbies, and that is "Play To Earn," an impressive tagline of Axie Infinity. Debuted in the same year of OpenSea, Axie Infinity was introduced on the Ethereum blockchain.
It is a gaming zone completely inspired by the Pokemon, where the players collect, battle, and breed their pet-like creatures famously known as the "Axies".
One can also increase and change the strength of their axie by choosing the class and the body parts. The strength of the axie can be measured based on four components -
The Axie Infinity platform is a blockchain-based game, and each of the Axie acts as an NFT. Make sure that this platform is still in its developing phase; you never know, opting for a White label NFT marketplace for the gaming world can make you the gamechanger in the NFT world.
After the huge success of OpenSea and other biggest NFT marketplaces, Alexei Falin and Alexander Salnikov launched an open-source NFT marketplace in early 2020.
The NFT marketplace enables users to mint, sell and create collectibles via blockchain technology. Instead of buying or exchanging digital assets one can create and display the artwork.
Then the digital art pieces are put on display to be purchased using the Ethereum tokens. The user is completely in the possession of their tokens. Apart from being one of the biggest NFT marketplaces, it also offers IP rights aka Intellectual property rights for the user as proof of provenance.
The biggest NFT marketplace also acts as a DAO - Decentralized Autonomous Platform governed by the community itself. The platform also offers RARI tokens which make it easy for the users in decision making and are also on the list of popular NFT tokens.
The Rarible also beholds a unique feature noticeable in the Rarible clone. Now the users can seamlessly search for the new digital arts and share it smoothly. The user will also be looking at the three sectors that cannot be found in other biggest NFT marketplaces, such as :
- Explore - Allowing users to explore and browse more NFT for a specific use.
- Following - It allows users to follow several artists and to be followed in return.
- Community - A dedicated place where users can find various information, trends, discussions, and more.
By now, you might have a slight understanding of why we have included the Rarible to the list of the biggest NFT marketplace. If your excitement for Rarible is uncontrollable then make sure to have a look at why more investors are inclined to build an NFT marketplace with Rarible.
SuperRare is known as the pioneer in the NFT space, which has been grown into the list of biggest NFT marketplace along with $90M+ of art being collected, and there are around $3M+ royalties that are paid till the date.
The NFT marketplace was founded in 2017 by Charles Crain, John Crain, and Johnathan Perkins - CTO, CEO, and CPO of SuperRare. The platform is designed for collectors and artists fond of digital art and can interact with fellow enthusiasts who share the same passion.
Users can also keep track of the users who are top collectors, the trending artists, how many pieces are being created and bought, how much the cryptocurrency has been accumulated and spent in total. The platform also comprises of three fundamental approaches such as
- The tools aid artists, collectors, and curators
- Value accrues in the network
- Decentralized curation.
The platform is a perfect fit for those looking to create, sell and collect digital arts worldwide.
Last but not least in the list of biggest NFT marketplace is Foundation. The platform is famously known as the P2P marketplace operating exclusively for digital art creators and artworks. The artists can seamlessly operate and create their profile and apply it to their community.
By looking at the votes, the application will further get verified, giving the power to the hands of the creators. The UI of Foundation is black in appearance and presents a clear, futuristic, and professional approach.
The platform aids in building a bridge between the crypto and culture, cultivating a network of mutual support among the collectors, creators, and artists. One can begin collecting and browsing the NFTs via creators and explore the artwork that speaks up personally.
We have listed down some of the main characteristics of one of the biggest NFT marketplace such as
- Built on Ethereum
- The auction begins at a reserve price
- Countdowns for 24 hr
- Time extensions for auctions
Launched in 2020, this platform majorly facilitates the trading of non-fungible tokens. It has been a community helping the artists to mint their art and showcase it.
The team of this NFT marketplace works mostly on bringing the marginalized voices to the center.
Along with that, they narrow down what sort of artwork is going to be on display.
Got A Knack To Build A NFT Marketplace
We can have a look at how blockchain-based technology and the NFTs are providing opportunities to the artists and content creators to gain the financial remuneration of their digital arts—long gone the days where artists are not going to depend on long-lost auction houses and galleries to sell their artwork.
People are shifting to sell their art more on an NFT marketplace. By selling the art on one of the biggest NFT marketplaces, the artists can get a better share of the profit.
By looking at the current scenarios, it is high time for you to buck up and build your own NFT marketplace.
All you need to ask yourself is for whom you are building this platform and what sort of problems you are looking to solve. Make a list of features and the type of technology along with the NFT standards for the marketplace. The best way is to consult NFT marketplace development experts that are going to help you develop and launch your own NFT marketplace platform.
Not The End Of Biggest NFT Marketplaces
Currently, we might be done with the list of the biggest NFT marketplace, yet we assure you it’s not at all THE end. The blog was just a trailer to the upcoming wave of NFT and the NFT based marketplaces.