The rise of blockchain technology, from blockchain-as-a-service to the proliferation of cryptocurrencies, has been nothing short of meteoric.
Cryptocurrencies and blockchain have enabled a host of new opportunities previously unimagined.
One sector that has benefited tremendously from the growth in blockchain technology is the Non-Fungible Token (NFT) market.
Let’s have a look at the 5 best NFT Marketplaces of 2023 on the Ethereum blockchain.
OpenSea
OpenSea, which launched in 2017, is one of the largest and most popular NFT marketplaces on the Ethereum network and hosts many popular NFTs, including art, music, and photography.
In contrast to many other platforms, OpenSea is a noncustodial platform that gives users access and control over their wallets. The online marketplace offers the ability for sellers to sell directly at a fixed price or through an auction.
OpenSea is committed to maintaining the highest standards when it comes to safeguarding its users’ information, and has partnered with several organizations dedicated to discovering vulnerabilities in blockchain-based applications.
Rarible
Rarible, known for its unique NFTs and user-friendly platform, has quickly become one of the most popular NFT marketplaces in 2023 on the Ethereum network.
One of the standout features of Rarible is its native token, RARI. The platform uses this token for its decentralized governance, allowing users to have a say in how Rarible evolves over time. Plus, RARI tokens can be earned by creators and collectors as a reward for participating in the marketplace.
Foundation
Foundation as a NFT marketplace offers a platform for its creators to showcase and sell their work to interested buyers. Foundation is known for its curated selection of high-quality NFTs, and it also offers live auctions for select pieces.
Foundation is an invite-only NFT marketplace for creators and collectors, focused on creating a strong community.
It acts as a safe place to buy and sell NFTs, but it does not store the NFTs on its platform. Instead, when you purchase an NFT, it is stored in your wallet
SuperRare
SuperRare, another curated NFT marketplace, focuses on high-quality digital art created by a select group of artists. They pride themselves on their curation and focus on building a community around their platform.
The platform has been described as an “Instagram meets Christie’s” hybrid, and only features the most prominent and popular up-and-coming artists.
It was launched in 2018 and focuses solely on art NFTs. Unlike many other NFT marketplaces, SuperRare is known for its emphasis on quality over quantity.
Venly
Venly, an NFT marketplace based in Belgium, operates on the Ethereum, Binance, and Polygon networks.
This multi-blockchain platform allows users to buy and sell NFTs. You can either sell your NFTs on Venly Market or build your own NFT marketplace using Venly’s APIs.
The platform is designed to be user-friendly, with a focus on accessibility for both Web2 and Web3 users, making it easy to list your NFT collection in seconds.
Venly also recently introduced VENS, an internal token that users can accumulate through interactions with the marketplace.
NFT Marketplaces are Here to Stay!
NFT marketplaces offer a fresh way for artists and creators to showcase and monetize their digital artwork.
This is a game-changer, especially for digital artists who previously struggled to sell their art in traditional markets. NFTs provide proof of ownership, ensuring that buyers can verify the authenticity and uniqueness of digital pieces of art.
NFT marketplaces help connect artists, collectors, and enthusiasts, allowing them to share their passion for digital art as well discover new talent. This creates a vibrant ecosystem where creativity thrives and everybody benefits.
NFT marketplaces also provide a level of accessibility that was previously unimaginable. Anyone with an Internet connection can participate, whether they’re buying, selling, or just browsing. This opens up new opportunities for artists and collectors from all walks of life.
The Decentralized nature of blockchain technology, which underpins NFTs, means that artists can retain more control over their work. They can set their own terms, such as royalties on future resales, giving them more financial security and creative independence.
NFT marketplaces are truly a breath of fresh air in the creative world, offering new opportunities for artists, collectors, and enthusiasts alike.