Eager to make some money off the “non-expendable”? Yes you can, and right now you are reading the right article. Here we explain which are the best platforms for buying and selling NFT (“tokens non-fungible”), the phenomenon around crypto assets that everyone is talking about these days.
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First things first: what are NFTs?
NFTs are the modern day versions of the trading cards of the past. Called token non-fungible, because they are unique cryptocurrency units that cannot be replicated. And since these are exclusive digital objects, they could one day be worth millions of dollars. In fact, the first ever tweet, Nyan Cat —the GIF of a cat with toast— and the viral video Charlie bit my finger have already been auctioned off in this format.
The token they are created as unique and exclusive blocks in the chain of the platform chosen by the seller. This string also stores the ownership of the file. Although there are different alternatives, most transactions are made with ether, the native cryptocurrency of the Ethereum network.
Backed by US billionaire Mark Cuban, Mintable is an NFT buying and selling platform that aspires to become an open marketplace, similar to OpenSea.
The platform, which is powered by the ethereum network, also enables the minting of NFTs for content creators who want to sell their works as digital assets. However, one of its advantages is that it allows you to create them without charging fees (or gas). You just need to connect your cryptocurrency wallet and connect it to Mintable to facilitate transactions.
Launched in 2020, Rarible is considered one of the best platforms to trade NTF, behind OpenSea. It is a decentralized marketplace, offering a direct trading experience. It has a clean and clear interface, which allows you to know the NTFs that are in trends, the best sellers and buyers of the last days and explore topics that are of interest to you.
The platform not only allows you to buy or sell NTF, you can also create and mint your own token through a guided process for those who are not specialists in the field. For creators, it even allows for royalties of up to 50 percent on future resales (although 5 or 10 percent is common).
Ethernity is a platform that allows the sale of exclusive and limited edition NFTs, with a special focus on sports, such as soccer or American football. In fact, figures such as soccer players Lionel Messi and Luis Suárez joined this portal. Ethernity offers two mechanisms to buy an NFT: an auction or if an owner of one that has been traded on the platform wants to sell it. The platform keeps 75 percent of the sale, while the rest is given to the artist. Trade with Ethereum.
Self-described as the largest NFT platform, OpenSea offers a variety of tokens non-fungible, such as works of art, domain names, trading cards, among others. The digital objects comply with the ERC-721 and ERC-1155 standards –which guarantee authenticity and exclusivity– in collections such as Axies, ENS (Ethereum Name Service) domain names, CryptoKitties, Decentraland, among others. Provides access to a free mining tool to create your own NFTs, without the need to write a single line of code. In addition to auctions, OpenSea allows you to sell items at fixed prices. You will need an ether wallet.
Unlike other NFT buying and selling sites, Valuables only allows trading tweets “autographed” by their creators. In fact, it was the platform chosen by the founder of Twitter, Jack Dorsey, to auction the first tweet in history for $2.9 million dollars. You can review the current auctions or enter the link in any message and decide if you want to sell or buy it. All transactions are done through the MetaMask wallet, which is powered by ethereum.
Launching in February 2021, Foundation brings together creators and collectors, with a focus on digital art. In its early days, it launched a call for creators to experiment with cryptocurrencies, though it took a short time to establish itself as one of the leading sites for trading NFTs. Creators — who can only do auctions and not direct sales — receive 85 percent of the final value. But if the piece was minted on Foundation, then every time it is resold on an Ethereum-based platform you will get 10 percent of the transaction. According to figures from the platform, since its launch creators have earned more than $40 million and more than 425 artists have earned more than $12,000. Among his main sales are the viral meme Nyan Cat or the Pak’s Finite discography.
KnownOrigin is a marketplace where you can find and collect exclusive and unique digital artworks. Creators can use the platform to showcase and sell their work to collectors who care about authenticity and originality. In addition, the platform is responsible for choosing the creators, who must send their illustrations with the files in the IPFS protocol, which allows their versions to be tracked over time. It works with ethereum.
Axie Marketplace is the online store for the Axie Infinity video game, where you can buy axies, as the creatures that can be sold and trained to face those owned by other players are called. Users can purchase axies, terrain, and other items such as NFTs to use within the game. Since Axie Shards tokens are based on the Ethereum chain, they can be traded on multiple NFT markets.
SuperRare defines itself as a cross between Christie’s and Instagram, as it seeks to facilitate the collection of digital art and for users to show it off on social networks with a personal gallery. It is a site aimed at those looking to buy and sell exclusive digital works: they identify themselves with a token unique, protected and traceable in the blockchain with ERC-721 standard.
Like Foundation, creators receive 85 percent of the first sale and earn a 10 percent royalty on each subsequent transaction. At the moment, it is restricted to a small number of artists, who must apply. All transactions are done with ether.
Founded in 2018 by brothers Duncan and Griffin Cock Foster, Nifty Gateway also follows the centralized model for buying and selling digital assets. Their strategy is to partner with artists and brands to create exclusive and limited edition collections. It charges a commission of 5 percent of the sale price, plus 30 cents to cover transaction fees. For every secondary sale, the artist receives 10 percent. Although it is the scenario chosen for the digital artist Beeple, the platform has received some criticism from creators, who accuse non-transparent charges and arbitrary auction suspensions.
Zora also makes the original copy available to everyone and allows consumers to sell the token as many times as they want. Every time a work is resold, the creator gets a cut of the transaction. In this way, the more popular a digital piece is, the more people will want to have it. Zora seeks to make it easy for creators to publish their products and earn money from their work. Musician Mike Shinoda, from the American band Linkin Park, decided to sell music clips through this platform.
Although the ones mentioned above are not open platforms for anyone who wants to buy or sell NFTs, there are others of a closed nature, where it is only possible to buy certain types of collections linked to public figures such as athletes or singers.
- Lamborghini NFT: the luxury vehicle manufacturer joined the world of NFT. To start, it auctioned off five tokens created in collaboration with Swiss artist Fabian Oefner in February 2022. Although this is a unique auction, it is possible that they will continue in the future.
- NBA TOPShot: This platform offers the best collection of videos, photos and collectibles of players and teams from the NBA, the main basketball league in the United States.
- NFLPA Upland: The American Football Players Association (NFLPA) has partnered with Upland to launch a marketplace of NFT collections of NFL players.
- TikTok Top Moments: TikTok jumped on the NTF bandwagon with TikTok Top Moments so creators can market their videos, either as one-off or limited edition NTFs. It is not a permanent buying and selling platform, but is activated in specific periods defined by TikTok.
- Topps NFT MLB: From incredible plays to dramatic finishes, Topps MLB is the official platform for the United States Major League Baseball to collect NTFs.
- MLB Champions: was the first sports digital asset collectible to partner with the MLB and MLBPA to create official baseball NFTs between 2018 and 2020. The minted assets are on the Ethereum blockchain.