An NFT marketplace allows you to participate in the sale and purchase of digital assets, from music and art to whole virtual worlds. NFT marketplaces can be described as the Amazon of the digital realm. There are many NFT marketplaces with a niche or specific focus.Â
- Bybit
- WazirX
- Binance
Before you decide which one to choose, Here’s what you need to know.
Bybit
The Bybit NFT Marketplace provides a one-stop-shop for trading and listing NFTs. You can find NFTs for digital art, collectibles, metaverses, and more on the platform. Bybit is an Ethereum based NFT platform and it currently supports ETH, BIT, and USDT to trade NFTs. Each NFT on Bybit can only be purchased using one token. For instance, if an NFT uses ETH as its pricing unit, it can’t use other tokens like USDT, or BIT for trade.
WazirX
WazirX NFT marketplace is a trusted marketplace for artists and creators to buy, sell, and trade NFTs. this NFT platform uses Binance Smart Chain (BSC) to record transactions to avoid high network congestion and gas fees. In the WazirX NFT marketplace, you must use BNB/WRX support wallet to perform a payment.
Binance
The Binance NFT marketplace features all forms of digital artwork and digital collectibles to provide the highest liquidity platform for users to create and trade NFTs by using Binance Smart Chain. the cryptocurrencies such as BNB, BUSD, and ETH support on Binance NFT marketplace. all the transactions are recorded on the BSC similar to WazirX NFT platform.
All the above three NFT marketplaces are the path to start investing in digital assets with their own unique features and functionalities.
Tips for choosing an NFT marketplace
First, decide what kind of digital asset you are interested in selling, buying, or creating. You can digitize almost anything: the written word, videos, and games as well as art and collectible items, and tokenize it on a Blockchain.Â
Another consideration is the type of tokens that supports in the marketplace. some marketplaces support various tokens. others are closed marketplace and use a particular proprietary token. so fund your blockchain wallet with the right crypto or token that is required to participate in the site activity. You should also check the security of the marketplace and any past issues.
Be sure to choose the one that best suits your storage and buying needs, based on what type of NFT and crypto you are interested in using for transactions.
Final thoughts
NFTs are still very popular. NFT sales on OpenSea in the first five days of 2022 exceeded $700,000,000 This was due in large part to the collections. There are many blockchains that offer better NFT services. You can choose from one to build your own NFT marketplace as popular as OpenSea.
