As NFTs or non-fungible tokens have taken the art world by storm, more and more people are turning to buying and selling these digital collectibles, giving a boost to the popularity of NFT markets.
Read: What are NFTs? Are they popular in New Zealand?
This article covers two main NFT marketplaces, namely OpenSea and Rarible, for NFT enthusiasts who want to create, buy and sell those digital artworks or who are just curious about NFTs.
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OpenSea is the first and largest peer-to-peer NFT marketplace across the world, where NFT enthusiasts can buy, sell or trade numerous NFTs.
Built on the Ethereum blockchain, the platform has an easy to use interface; in which one can create an account for free and browse many NFT offers, which are related to the field of art, game items, photography, music, sports, virtual world and other objects of collection. Also, the platform supports more than 150 cryptocurrency payment tokens.
Interesting read: What prompted Melania Trump to unveil her NFT platform
Moreover, it supports 14 different crypto wallets like MetaMask, Fortmatic, WalletLink, Torus, Arkane, among others.
OpenSea supports artists and creators because it has a simple and hassle-free process to create your own NFT, and sellers have to pay a 2.5% transaction fee.
This NFT marketplace is backed by top companies and notable industry leaders.
Another top NFT marketplace is Rarible, where all kinds of art, collectibles, videos, and more can be bought, sold, or even created.
Built on the Ethereum blockchain, Rarible also uses Tezos and Flow blockchains. It is community owned and promotes decentralization, thus allowing its users to vote on all platform upgrades.
It should be noted that Rarible uses its own token, RARI, and charges a 2.5% fee to buyers as well as sellers.
Related Reading: What is the Rarible crypto & RARI token price prediction?
Moreover, the platform supports multiple crypto wallets like MetaMask, Coinbase, etc., ensuring that users can safely store their assets after purchase.
Additionally, Rarible has cultivated partnerships with leading companies and celebrities, including Twitter, social media site Yum! brands, fast food operator, actress Lindsay Lohan, etc. who launched their NFTs with the help of Rarible.
Read: Three major challenges facing the NFT market
When venturing into the world of NFTs, thorough research of the NFT market like its pricing structure, blockchain type, etc. is recommended.
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