Are you looking to buy digital art? Or, are you looking to sell your latest creation? NFT marketplaces are booming, with companies raising record amounts in VC funding while branching out across sectors. NFTs are taking the crypto sphere by storm with innovations happening every day, from digital art to collectibles.
Today, we put together a list of the 12 best NFT marketplaces available for you to create, buy, or sell your favorite digital pieces.
What is an NFT? How to Store an NFT?
A Non-Fungible Token (NFT) is a Blockchain-based proof of ownership of an asset. Digital assets go beyond currencies and can represent a form of ownership, uniquely traced by the transparency and integrity of Blockchain technology. NFTs are usually developed under the Ethereum network using the ERC-721 standard, creating uniquely identifiable digital pieces that you can buy or sell in NFT marketplaces. As NFT mature, more Blockchains support their creation beyond Ethereum (e.g., Tezos, Polygon, Binance Smart Chain, etc.).
Currently, there are several crypto wallets and NFT marketplaces where you can store your newly created or acquired NFTs in multiple forms. Popular DeFi wallets as Metamask or Trust Wallet are great options, while there are emerging options from new NFT-focused providers.
Why buy an NFT?
Think of an NFT as the gateway for digital ownership. An NFT is a natural progression from physical ownership to the digital sector. With the new range of artistic expressions occurring digitally, an NFT can give you a wide array of options to acquire or create a piece of digital history.
Furthermore, an NFT represents the digital proof of ownership of any physical or digital asset, which can revolutionize sectors beyond art, sports, or entertainment. Ready to leap? We’ll show you the best NFT marketplaces to start your journey.
In the US, crypto and art are considered property, but your reporting obligations and type of tax due when dealing with NFT differ whether you’re an investor or creator. For insights about NFT taxes in the US, please check this NFT guide with comments on taxes by an expert Crypto CPA.
The 12 Best NFT Marketplaces
In recent months, several new NFT marketplaces emerged amid its growing popularity. Inclusively, prestigious auction houses as Sotheby’s started to embrace NFTs and digital art while setting record level sales.
At the same time, many existing players expanded their efforts in the NFT space with large VC rounds from leading investors. From so many options, we’re showing you the best NFT marketplaces for you to start buying and selling.
OpenSea just raised more than $20M from leading investors like Andreessen Horowitz to grow its popular NFT marketplace.
They are the leader in the NFT space, offering users a wide variety of digital pieces from collectibles, CryptoKitties to digital art.
OpenSea offers Ethereum-based NFT and from other Blockchains (e.g., Tezos) as well. From the wide range of popular NFTs, you can scroll through music, virtual worlds, utility tokens, trading cards, domain names, sports tokens, or digital art.
If you’re a creator, OpenSea is a great place to create your NFT and reach a wide audience of crypto enthusiasts and collectors.
Sorare is a virtual football trading game. Think of it as a mixture between the famous Panini cards for football championing and Football manager with NFTs in the middle.
Sorare features more than 130 football clubs where you can collect and trade trading cards from your favorite players.
Recently, amid the start of EURO 2020, France’s national team released an exclusive NFT on Sorare, expanding beyond club collectibles.
Sorare is backed by leading venture capital investors (e.g., Accel Partner, Benchmark Capital) and famous football players as Gerard Pique and Antoine Griezmann.
SuperRare is a premium marketplace for collectors to buy leading digital art. On SuperRare, artists can sell their pieces and get paid royalties for every sale of their art in secondary markets.
SuperRare also features some of the most interesting pieces in its collections with occasional special listings and projects.
SuperRare’s marketplace has a simple design, highlighting each art piece while delivering a seamless trading experience.
Rarible is a popular NFT marketplace where you can create, store, and sell your art. It’s a perfect place for digital artists to mint their NFTs and start selling their digital goods. Rarible’s NFTs offerings range from digital art to games, domains, and others.
Rarible also has its native token ($RARI), which users can earn by using the platform and participate in its governance. The Rarible homepage features the top sellers, live auctions, and hot pieces/collections being auctioned for an exciting experience once you step into their store.
Cargo, unlike other NFT marketplaces, supports multiple Blockchains and not only Ethereum-based NFTs. Currently, Cargo supports NFTs from Ethereum, xDai, and Polygon.
Cargo’s platform is a great place for artists to create their NFTs and start selling in their marketplace while investors and collectors can browse through many options to find their coveted art pieces.
KnownOrigin is a premium digital art marketplace and gallery based on Ethereum. You’ll find rare items around digital art when scrolling down their intuitive and clean-designed online gallery.
You can choose between primary and secondary markets inside the marketplace to start investing and collecting digital art or simply enjoy the artwork on their collections.
To learn more about the artists and what’ behind each art piece, check their journal and other community spaces.
Nifty Gateway is an NFT marketplace where you can buy and sell digital art and collectibles. Their marketplace has a wide range of options from emerging and leading artists in the space while showcasing special pieces on their drops section. Nifty Gateway is part of Gemini, one of the largest crypto exchanges in the market. If you’re a creator looking to develop Nifties with them, you can apply here.
Decentraland is a new kind of decentralized virtual world where you can create and sell your digital goods. Think of it as a very evolved “Sims” game under the Blockchain, where you can own and trade virtual land, digital goods, and many other in-game collectibles.
With Decentraland, you can create your virtual world and monetize your creations. Recently, Sotheby’s launched a virtual gallery inside Decentraland, showing its increased adoption in recent months from both the art and the Blockchain worlds.
Auctionity is a Blockchain auction house where you can sell and buy NFTs. They have a variety of NFTs you can purchase from Etheremon to CryptoKitties. You can join the active auctions and find hot deals in their “hottest auctions” section.
Foundation is a premium digital art marketplace where you can discover, buy, or sell NFTs. Their clean-designed platform showcases thought-provoking art where you can easily browse through pieces and start collecting. If you’re a creator, Foundation works with a community-vote-based system, which you can join here.
MakersPlace is a leading digital art gallery where crypto and NFT enthusiasts can buy and sell rare digital art. Their platform showcases artwork on their “Discover” section, while you can check the latest and most popular digital art pieces on the “drops” section. MakersPlace is a great place for digital collectors and investors.
Enjin is one of the pioneers in the NFT space, offering more than 17,000 items on their marketplace. With Enjin, you can buy in-game digital goods and collectibles to build your virtual collections.
The list of NFT Marketplaces keeps growing
More NFT marketplaces enter the arena every day. Our list is in no way exhaustive, as there are many other great platforms for you to discover, buy, and sell NFTs. For example, you can enjoy a great range of NFTs on BlockParty, The Sandbox.Game, and from newcomers as CoinBurp DeFi|NFT wallet.
On top of all the new projects, a major launch will happen in late June with Binance, the leading crypto exchange worldwide, creating its own NFT marketplace, set to be a true game-changer.
Learn how to import your NFT trades into CoinTracking
Looking for more of the best resources in crypto? Follow our weekly content about crypto taxes and the most comprehensive guides full of crypto tools:
2021’s NFT guide (with taxes).
Is Bitcoin taxable? The ultimate guide for 2021 taxes.
Tax implications of getting paid in Crypto.
The best 65 Crypto Twitter accounts to follow.
Do you pay taxes on crypto trades?
Crypto jobs: Here’s the 5 best platforms to find them.
How to report crypto in your taxes?
Earn Interest on Crypto: The Taxes Guide.
Do you pay taxes when spending crypto on products?
Crypto debit cards: The best 5 providers in 2021.
Do you pay taxes on Bitcoin debit cards purchases?
37 company accounts to follow on Crypto Twitter.
The best tools to learn about Bitcoin and Crypto.
Exchange imports: The 2021 guide by CoinTracking.
CoinTracking goes beyond NFTs to take care of all your crypto taxes worries:
Import trades (API & CSV) from more than 100 exchanges/wallets
Track all your DeFi trades imports (e.g., Uniswap, 1inch, SushiSwap) using our ETH+DEX import
Import your Binance Smart Chain transactions with our BSC Importer.
Take advantage of more than 25 advanced reports.
Get your crypto Gains according to 12 accounting methods (e.g., FIFO, LIFO, HMRC, ACB).
Create fully compliant Tax Reports in your country.
If you need personalized help reviewing your transactions or preparing your US tax returns, check out our CoinTracking Full Service. CT Full Service is provided by a team of crypto tax professionals led by Sharon Yip, an expert CPA. Follow our weekly AMAs on Twitter where Sharon Yip answers your crypto tax questions.
Disclaimer: All the information provided above is for informational purposes only and should not be considered as professional investment, legal, or tax advice. You should conduct your own research or consult with a professional financial advisor when investing.