An NFT Marketplace is a marketplace for NFTs. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there. Below 7 best NFT marketplaces in India have been listed:
7 Best NFT Marketplaces
1. OpenSea
OpenSea is the leading marketplace for non-fungible tokens. The platform lets users buy and sell NFTs on the secondary marketplace and also create their own NFT collections to sell on the primary marketplace. OpenSea marketplace is easy to navigate, with a filter feature to help you find the NFTs you need.
2. NBA Top Shot Marketplace
Unlike several other NFT marketplaces, NBA Top Shot has an exclusive partnership with one of the biggest and highest-earning sports franchises in the world. Once the NBA cuts the highlights, NBA Top Shot determines how many they are going to sell and numbers them in packs. The value is determined by the player, the number, the quality and the rarity of the highlight.
NBA Top Shot creates value in the scarcity of the “moments” and the NFT is an actual NBA video highlight. With several parallels to antiquated trading cards, it gives users the opportunity to own historical basketball moments with blockchain security.
3. Foundation
Foundation has been active since 2020 and is based in the US.
If you’re looking for cheap NFTs from unknown artists, you might find them here as well, but most of the NFTs minted and sold here are produced by more well-known NFT-creators. The long list of creators with NFTs sold on this marketplace includes names like * Chris *, Pak, Kevin Roose, pplpleasr, Jack Butcher etc.
4. Bollycoin
Described as a bridge between Bollywood and the blockchain, Bollycoin is an NFT marketplace devoted to collections inspired by or based on Bollywood projects. Last year, the platform made headlines with their Dabangg collection in collaboration with Salman Khan. In addition, Bollycoin offers movie clips, posters, and stills, among other collectables. Their crypto-coin can be used to purchase the NFTs, and members are set to get royalties based on their activity.
5. SuperRare
SuperRare has been active since 2018 and is based in the US. It operates on the ETH blockchain (the NFTs are ERC-721 NFTs).
SuperRare exists to push back on that trend, focusing on exclusive crypto art. SuperRare defines crypto art as NFTs that have their entire history – creation (minting), tokenisation, artist, and every subsequent purchase and sale – encoded on the blockchain.
If you’re looking for cheap NFTs from unknown artists, you might find them here as well, but most of the NFTs minted and sold here are produced by more well-known NFT-creators. The list of creators with NFTs sold on this marketplace is very long.
6. Nifty Gateway
Nifty Gateway is an exclusive NFT platform that has taken the blockchain world by storm. The platform blends crypto-technology and collectable artwork to create a rich suite of high-value, tradable assets, bringing a world of new investment potential. This is one of the best NFT marketplaces in India.
In this review, we explain what Nifty Gateway is, what can be traded, and the pros and cons of the platform. We also provide a tutorial on how it works what to buy and sell.
7. Rarible
Launched in 2020, Rarible was ranked as the top NFT marketplace, especially given RARI, their native ERC-20 governance token. The website deals in a wide range of tokens split into various categories. The categories are; art, photography, games, metaverses, music, domains, and DeFi, which is the shorthand for “decentralized finance.” Rarible does all of that at a reasonable fee.