The Best NFT Marketplaces for Investors and Traders, Ranked for 2022
Explore the Biggest Marketplaces for NFTs
From OG Cryptopunks to Pudgy Penguins, Bored Ape Yacht Club, and even Degenerate Ape Academy, NFT art has taken over the cryptoverse.
The sale of Beeple’s digital art: “Everydays: The First 5000 Days” at auction for $69 million showed how valuable these digital assets can be. Now everyone in crypto wants a piece of the action.
As the demand for NFTs grows, marketplaces have sprung up to connect buyers and sellers. If you’re reading this, chances are you already know what an NFT is. Now you need to know where to find rare collections.
Our list includes the best NFT marketplaces selected based on criteria ranging from popularity to volume, payment methods, blockchain ecosystem, marketplace structure, and sign-up methods.
A quick note about the stats; higher volumes mean more people trade on the marketplace, resulting in more liquidity and a better chance at buying/selling rare NFTs.
Let’s dive in.
The Best NFT Marketplaces by Volume
Open Sea
Quick stats:
Total traded volume: $9.35Bn
Total no of traders: 573,474
Wallet supported: MetaMask
Sign-in method: Wallet
Blockchain ecosystem: Ethereum
Currencies supported: Ethereum, USDC
Structure: Decentralized
OpenSea is the biggest peer-to-peer NFT marketplace with an average monthly trade volume of $2.72Bn. The platform lists a wide range of digital assets from art to music, domain names, virtual worlds, trading cards, and other collectables on the Ethereum, Polygon, and Klayton chains.
Creators and artists can easily list collections or “one-of-ones”, set their prices, and initiate auctions while buyers and investors connect their Ethereum-compatible wallet (usually MetaMask, but also Coinbase wallet, Formatic, or Bitsiki) and purchase their preferred assets.
Finding new and trending collections is easy. Simply scroll down the home page and take note of the “Notable drops” section that lists live collections (collections that are currently minting).
If you scroll further down, you’ll come across the “Top Collections’’ section that shows the most traded collections over adjustable periods, which is useful for investors looking for blue-chip collections.
Finally, the “Trending in” section displays trending collections in various categories. You can also explore entire categories using the explore icon in the top bar, and use the resources page to get information.
Keep in mind that not all collections store NFT metadata onchain. While there are ways to store NFT media attachments permanently (Arweave), not all creators use this option. Some choose to store metadata on centralized storage providers like Google and Amazon (which isn’t the best practice).
Rarible
Quick Stats
Total volume traded: $232.15Mn
Total no of traders: 81,776
Sign-in method: Wallet
Wallets supported: Eth-compatible, multichain, and mobile (like Argent)
Blockchain ecosystem: Ethereum
Currencies supported: USD
Structure: Decentralized
Rarible is an NFT marketplace popular for its own coin, the $RARI token. The founders thought to give users the opportunity to be part of the future of the platform by creating a DAO.
Holders of $RARI can vote on important decisions while creators and traders get the token as rewards for trading on the platform.
Rarible’s collections run the gamut from domains to Nft art, photography, music, and even NSFW content for kinky buyers. One unique category that Rarible lists is DeFi products, which could be T-Bond NFTs (not actual US Treasuries) and call options.
Buyers can log-on with an Ethereum-compatible wallet, fund their account with a credit/debit card, bid on items, or buy them outright at a set price.
Rarible also has an analytics arm, called Rarible Analytics, that monitors gas fees in real time and relays through a scale when it’s relatively inexpensive to mint.
SuperRare
Quick Stats
●Total volume traded: $158.94Mn
●Total no of traders: 5,063
●Sign-in method: Wallet, Email
●Wallets supported: Eth-compatible, multichain, and mobile (like Argent)
●Blockchain ecosystem: Ethereum
●Currencies supported: USD
●Structure: Hybrid
Similar to Rarible, SuperRare is another NFT marketplace that is taking a community-centered approach to governance through a DAO powered by the $RARE token.
SuperRare curates rare digital art pieces by established artists; you won’t be finding any 10,000-piece collections or crypto domains here. However, don’t be fooled into thinking that their trading volumes are low as the high-end marketplace pulls an average monthly volume of $26.86Mn (as of writing).
Entry into this platform isn’t free for creators either. Artists are required to submit a profile, and each art piece must be vetted before listing.
These standards attract high-net worth collectors who appreciate exclusivity and are more willing to spend big bucks on “artsy” art than 8-bit apes.
To start collecting NFT art, you’ll need an Ethereum-compatible wallet (usually MetaMask) and an email account. You can fund your account using crypto or a credit card.
Navigating the marketplace is easy as only four file types exist: Still images, 3D artwork, GIF, and Video. You can also search using artists’ names.
Nifty Gateway
Quick Stats
●Sign-in method: Email
●Wallets supported: MetaMask, Gemini account
●Blockchain ecosystem: Unclear
●Currencies supported: USD
●Structure: Centralized
Nifty Gateway is the closest thing to what a regular high-end digital art marketplace would look like; like Christie’s, but with some blockchain mechanics. And like Christie’s, Nifty Gateway works with top artists and celebrities to curate and list digital artworks, called Nifties.
These Nifties are released as collections that are priced in US dollars and can be bought with a credit card. Proceeds from sale/resale of Nifties can be withdrawn to a supported bank or a Gemini account.
Setting up an account is straight-forward, although new users are required to verify their accounts and attach a credit card to participate in drops. Buyers can also deposit Nifties into their account from MetaMask, however, caution should be taken as there are rules.
Firstly, you can only deposit from MetaMask, and secondly, the Nifty you deposit must belong to a collection that is already listed on Nifty Gateway.
Keep in mind that the prices of collections on Nifty Gateway are not for the faint-pocketed as exclusively curated collections sell at exclusive prices.
Top NFT Marketplaces for Specific, Homogeneous Items
The marketplaces in this section each sell a specific type of NFT and that makes them the best NFT marketplace for the specific types they sell, simply because they are the primary sources of the digital assets.
Axie Infinity Marketplace
Quick Stats
Total volume traded: $2.67Bn
Total no of traders: 865,672
Wallet supported: MetaMask, Ronin
Sign-in method: Wallet
Blockchain ecosystem: Ethereum/Ronin
Currencies supported: Ethereum
Storage structure: Decentralized
Axie infinity is a turn-based crypto game that features cute little creatures, called Axies, that love to battle. These Axies are NFTs that players can collect, breed, raise, and trade on the game’s official marketplace.
Axies and other game items are ERC721 tokens which can be stored on the Ronin wallet and transferred to other players.
Although the marketplace only lists Axies, land, and other items that can only be used in the game, it is the second largest marketplace by volume. Axie Infinity’s 250,000+ daily active users who trade a monthly volume of $643.85Mn are to thank for this. The most expensive Axie so far sold for 369 ETH.
To get started, you’ll need to transfer WETH (wrapped ETH) to a Ronin wallet from MetaMask or any other compatible wallet as in-game items can only be bought with WETH through the Ronin wallet.
CryptoPunks Marketplace
Quick Stats
Total volume traded: $1.50Bn
Total no of traders: 5,133
Sign-in method: Wallet
Wallet supported: MetaMask
Blockchain ecosystem: Ethereum
Currencies supported: Ethereum
Storage structure: Decentralized (on-chain)
CryptoPunks, one of the OG NFTs, is a collection of 10,000 algorithmically generated 8-bit art pieces and is one of the more expensive collections to date. The floor price of a CryptoPunk (the cheapest listed Punk) is $382.46k; you’ll need some big bucks to get into this club.
For those who have the cheddah, purchasing one is as easy as navigating to the Larva Labs website, connecting your MetaMask wallet and bidding; the ones up for sale usually have a red background.
Unlike some other Ethereum-based NFTs, CryptoPunk metadata lives on-chain, virtually eliminating the chances of rugpulls or missing NFTs.
Keep in mind that CryptoPunks predate the ERC-721 NFT standard on Ethereum. As such, they do not behave like regular NFTs and are more similar to ERC-20 tokens. They can, however, be “wrapped” and traded on NFT marketplaces like OpenSea.
NBA Top Shot
Quick Stats
Total volume traded: $710.23Mn
Total no of traders: 461,857
Sign-in method: Google, Email
Wallets supported: Flow wallet, Credit cards
Blockchain ecosystem: Flow
Currencies supported: USD
Structure: Mixed
NBA Top Shot from Dapper Labs is a sports-focused platform for trading Basketball game moments/highlights as NFTs on the Flow blockchain. NBA fans can buy highlights from their favorite players, collect them, and trade them on the platform’s marketplace.
The platform implements a centralized sign-on feature where fans can sign-up/log-in using their email address or by linking their Google accounts. Once signed in, buyers go through an on-ramp process where they set up 2FA, follow their favorite teams/players, and link their credit cards.
Collectibles on the marketplace are dollar denominated and can be purchased either with a Flow wallet or a credit card. Once purchased, collections can be stored in the account wallet.
Watch out though, because while the marketplace features a search bar that facilitates the search for epic moments, buyers who are used to the straight-forward layout of decentralized marketplaces may be initially thrown off by the layout and collection tiers of the NBA Top Shot marketplace.
The Best NFT Marketplaces on Upcoming Ecosystems
High Ethereum gas fees have sent retail investors looking for cheaper platforms to mint and trade NFTs. As such, other smart-contract-enabled blockchains have risen to fill the gap and some already have thriving NFT marketplaces to connect traders, creators, and collectors.
Among these marketplaces, some easily stand out.
Solanart
Quick Stats
Total volume traded: $770.78Mn
Total sales: 362,146
Sign-in method: Wallet
Wallets supported: Phantom, Sollet, Solflare
Blockchain ecosystem: Solana
Currencies supported: SOL
Structure: Decentralized
The Solana blockchain is an Ethereum competitor with sub-second transaction speeds and low gas fees. The resulting ecosystem is conducive for NFTs and Solanart stands as the go-to marketplace.
Solanart curates the most popular collections across the Solana blockchain. As such, individual accounts cannot create digital art as all collections are verified before listing. Buyers can, however, sell previously purchased NFTs freely.
As of writing, only still images are listed on Solanart and all pieces are priced in Sol, the blockchain’s native token. NFTs are also stored permanently on Arweave, a decentralized storage solution.
The layout is easy to navigate while the UI sports an eye-popping purple background. Art pieces are grouped together in their collections with each collection page featuring filter attributes that enable you to filter for the rarest pieces.
To get started, you’ll need a compatible wallet like Phantom or Sollet. Once created, you can connect to the platform and immediately begin purchasing your favorite NFTs.
Magic Eden
Quick Stats
Total volume traded: $770.78Mn
Total sales: 362,146
Sign-in method: Wallet
Wallets supported: Phantom, Sollet, Solflare
Blockchain ecosystem: Solana
Currencies supported: SOL
Structure: Decentralized
Magic Eden is a more open marketplace on Solana although individuals still cannot list personally created NFTs. However, creators can apply to have their collections listed, thus, more collections are listed on Magic Eden than on Solanart.
The platform recently introduced a launchpad where creators can apply to launch their collections from the get-go. The alternative, which is common practice on Solana, is to mint outside the marketplaces and then get listed; the project team usually handles listing.
Once the collection is listed on the marketplace, traders then list their individual pieces under the collection. Negligible transaction fees make minting affordable for the retail trader and popular collections usually sell out in seconds during public mint events.
The marketplace is easy to navigate and getting started is as simple as connecting your Phantom or Sollet wallet and navigating to your preferred collection.
Mochi Market
Quick Stats
Total volume traded: $748.02Mn
Total traders: 4,261
Sign-in method: Wallet
Wallets supported: BSC, Polygon compatible wallets
Blockchain ecosystem: BSC, Polygon, Moon River
Currencies supported: BNB, MATIC
Structure: Decentralized
Mochi Market is a cross-platform decentralized NFT marketplace with an average 30-day trade volume of $53.14Mn as of writing. According to their website, the platform aims to solve the challenges of liquidity, cross-chain usability, and a lack of monetization strategies.
The platform is integrated with the Binance Smart Chain, the Polygon sidechain, and the Moon Base parachain on Kusama. Buyers can switch between chains using the toggle icon at the top left side of the webapp.
The items listed depend on the chain in use, however, in-game assets is a common theme across the platform as a majority of digital assets are either game avatars, cards, or weapons.
Getting started is as easy as connecting your wallet and purchasing your preferred assets. However, because the marketplace integrates with three networks, only wallets like MetaMask that are compatible with all networks can be used.
However, once connected, you can easily purchase NFTs with the native currency of the network you’re on e.g. BNB for the Binance Smart Chain.
The NFT market is expected to grow exponentially as Crypto becomes more mainstream. And who knows, new marketplaces may rise with new features that allow them to overtake those on this list.
Whatever happens, the future is definitely one to look forward to.
