The frenzy started in March 2021 with a $69 million artwork sale of Beeple, an American graphic designer. Unbelievable and Unstoppable are the terms used for the rapid surge of crypto collectibles. As competition becomes fierce in the digital world, entrepreneurs should take a step forward. Content creators across the world are selling their exclusive work for a high price. They are deciding their value and promotional strategy accordingly. Entrepreneurs must know the top NFT trading platforms in the industry before developing their marketplace for dealing in crypto collectibles.
What are the leading NFT trading platforms in the industry now?
1. OpenSea
Pure dominance is the best way to describe the OpenSea NFT marketplace. Built on the rock-solid Ethereum blockchain, it has the highest daily trading volume ($196.67 million). Interested investors can buy artwork, domain names, music, sports goods, trading cards, and other utility assets from the online platform.
Accordingly, content creators will benefit from holding rare collectibles by participating in the Exclusive OpenSea Drops” section. Importantly, loyal artists who list their digital collectibles need not pay minting fees till their single or multiple collections are sold.
Flexibility is the hallmark of OpenSea. Investors can store their crypto collectibles in software wallets like Dapper, Coinbase Wallet, MetaMask, Portis, Torus, and WalletConnect.
2. SuperRare
Buyers can get a hold of authentic artwork from the SuperRare NFT marketplace. The Ethereum-based platform will receive royalties depending on the number of secondary sales. It conducts several exhibitions and special releases. Users can check out the names of the featured artists, the number of airdrops, and the total supply of crypto collectibles.
Some of the insightful stats for the SuperRare NFT trading platform are ($2.41 million in daily trading volume, 3680 peer-to-peer transactions in the last 1 month, and $521,540 of assets locked in the Ethereum-based marketplace.
3. NBA Top Shot
Sports fans spread across the globe can buy both collections and packs of players and teams. Further, both booster and starter packs contain real-time information about the number of moments, price in US Dollar (USD), and release.
The NBA Top Shot marketplace operates on the Flow blockchain network. Interestingly, investors can also purchase licensed crypto collectibles of the Women’s National Basketball Association (NBA) soon. Overall, NBA Top Shot has sold more than 8.51 million digital collectibles to 437, 113 traders.
4. Rarible
Constant growth is the biggest strength of this Ethereum-compatible platform. Rarible is the hub for selling domain names, photographs, memes, metaverses, and music. Overall, it has sold 193,173 digital collectibles worth $145.92 million to investors. The Unique Selling Point (USP) of the popular marketplace is the RARI Governance Token (RGT).
Holders of valuable RGTs will receive decision-making powers and voting rights. In the future, content creators can mint digital collectibles (ERC-721 and ERC-1155) on Rarible without paying transaction fees.
5. Foundation
It is a one-stop platform for uniting artists, curators, and collectors. Content creators can view the list of current bids made by investors in Ethereum (ETH. The Foundation NFT marketplace also has a list of Featured Artworks.
All the auctions on the online platform have an automatic timer attached to them. Furthermore, artists can check out popular creators. They will receive details about their joining period, names, number of creations and followers, social media profile links, and website URL.
Generally, digital wallets like MetaMask and WalletConnect can be synced for paying gas fees and storing precious digital collectibles. Moreover, the Foundation NFT trading platform is focusing on digital natives. August 2021 was a blockbuster as the marketplace witnessed a trading volume of $76.19 million. Around 10,330 users executed 59110 peer-to-peer (P2P) transactions in the last 30 days.
Wrapping Up
Crypto collectibles are entering every sector and the entire world is optimistic about it. Interestingly, an NFT named, Pepe the Frog, attributed to Satoshi Nakamoto (founder of Bitcoin) was sold for a whopping $350,000 recently. From popular celebrities to small artists, everyone has been launching their digital collectibles.
The future trend would revolve around cryptocurrency exchanges coming out with their NFT trading platforms. The likes of Binance, OKEx, and WazirX are doing that now since they already have a large user base. As physical assets get converted into digital collectibles, entrepreneurs can focus on the big potential that lies ahead. They can make efforts for NFT marketplace development now and turn rich swiftly.Â
