NFT has become very popular lately. Therefore, the article will point out the top 10 NFT markets you should know about in 2022.

Tokenized assets and rare digital collectibles are driving billions of dollars into the NFT markets and everyone (including top celebrities and artists) wants to be a part of this fever.

There are many platforms based on different blockchains that allow the buying and selling of non-fungible tokens. But before we dive into the top 10 NFT markets list, let’s take a look at the definition of NFT and why so many platforms are needed to trade this asset today.

What is NFT?

NFTs are cryptographic blockchain storage tokens used to represent virtually any commodity. NFTs can be tokenized versions of cards that play sports, music, videos, pictures, cats, frogs, weird things, and even rocks.

These unique tokens provide holders with proof of authenticity and ownership of the underlying asset. Because NFTs are non-fungible, they cannot be exchanged or purchased for other NFTs, making them scarce and in high demand.

Additionally, since NFTs are tokenized on the blockchain, it is not possible to change or remove ownership of them from the network they are built on.

NFT market is booming

Non-fungible tokens will explode in 2021 and the number of sites supporting NFT transactions will grow at a much larger scale. Known as NFT marketplaces, these platforms, as mentioned earlier, allow users to mint, list, buy, and sell crypto artworks as well as digital collectibles.

Like decentralized exchanges (DEXs) and peer-to-peer trading platforms, most of them do not hold NFTs directly for users. Instead, they act as a link between buyers and sellers.

While some NFT trading platforms focus on specific niches like sports, digital arts, etc., others are adopting every type of NFT in the market, thus attracting large numbers of people.

Accordingly report by Chainalysis, the NFT markets saw a massive influx of over $40 billion worth of assets traded across multiple platforms in 2021 alone.

The industry has also attracted the attention of a number of celebrities, sports stars and veteran investors including Shawn Mendes, Melania Trump, Paris Hilton, Tom Brady, Mark Cuban, Justin Bieber, John Legend,…

Above Top 10 NFT Markets in 2022

While most of the NFT market currently in the industry is built on the Ethereum blockchain, the platforms mentioned in this section are built on other Layer 1 blockchains.

Open sea

In terms of trading volume, OpenSea is by far the largest NFT marketplace in the world. The platform allows users to mint, buy, and sell a variety of non-fungible tokens, including collectibles, digital artwork, virtual worlds, trading cards, and more.

The platform is based on Ethereum but has now been integrated with Polygon to reduce gas fees. Through OpenSea, users can access over 700 NFT projects, with over 80 million NFTs available for commerce.

The NFT marketplace allows users to create and set up seller profiles on their infrastructure for free. However, the platform charges 2.5% for every sale made on the market.

At the time of writing, the most popular NFTs by trading volume on OpenSea are Bored Apes, CryptoPunks, and Doodles.

OpenSea now has more than 600,000 users and the market claims to be worth $4.1 billion in total revenue in 2022 alone Data by Dune Analytics.

Very rare

SuperRare is an Ethereum-based NFT marketplace partnering with a select number of respected and select NFT artists. It is an exclusive pioneer digital art platform with the intention of preserving the culture of digital art collection.

The marketplace has a rigorous testing and approval process before any digital artwork is offered for sale. SuperRare aims to stimulate the creativity of the few respected creators on its platform to ensure digital art collectors get the most out of their collection.

While SuperRare isn’t as vibrant as OpenSea, the marketplace offers very exclusive digital artworks. The platform charges artists 15% on top of their core revenue.

Rarely

Rarible is a community-owned decentralized NFT marketplace that gives users access to a variety of NFTs to buy and sell. The platform has a user-friendly interface that allows them to easily mint and trade NFTs.

Rarible supports three different blockchain networks: Ethereum, Flow, and Tezos. With such multi-chain support, users are allowed to create, buy, and sell NFTs from any of these three blockchain networks on Rarible.

Just like OpenSea, Rarible charges a 2.5% transaction fee. However, they encourage decentralization by introducing a governance system that grants voting rights to community members via the internal token RARI.

The marketplace has processed more than $270 million worth of NFT transactions, with a total user base of over 1.6 million.

Axie Infinity Marketplace

Axie Infinity is not only a popular blockchain game but also one of the most popular game-focused NFT marketplaces. However, while the previous marketplaces were for collections, the Axie Marketplace is dedicated to gaming-based video games, allowing users to create, buy, and sell Axies and digital collectibles within other games.

The NFT Axie Infinity marketplace is built on the Ronin Layer 2 blockchain, a sidechain on the Ethereum network.

The platform has a large following of gaming and crypto enthusiasts, with daily active users surpassing the 2 million mark. Axie Infinity’s intuitive and user-friendly interface formed the basis of this game world.

One of the most expensive NFTs sold on Axie Infinity to date is a virtual estate that sold for a whopping $2.3 million.

Nice goal

Commonly known as the NFT marketplace for the elite, Nifty Gateway is managed by the Gemini exchange, run by the Winklevoss twins. This Ethereum-based platform allows users to buy, sell, and mint proprietary cryptocurrency graphics.

The popular market sells artwork from some of the world’s most famous artists, including Grimes and Beeple. One of the most expensive offerings, Beeple’s NFT Crossroad sold for $6.6 million in this market last year.

Nifty Gateway has a policy of encouraging creativity and authenticity. Accordingly, this policy prompts the company to implement some of the most rigorous verification processes for artists. Only verified creators are allowed to mint and list NFTs on the market, minimizing the risk of fraud. The platform charges a 15% commission on NFT sales.

Solanart

Solanart is the official NFT marketplace built on top of the Solana network. The platform allows users to create, buy and sell a range of Solana-based NFTs.

The platform has NFT collections from multiple projects like Degenerate Ape Academy, Solpunks, etc. They charge a 3% transaction fee for each NFT sale.

Solanart also supports a range of digital wallets such as Solflare, Phantom, Clover, Sollet, Slope, Ledger…

Accordingly Data by DappRader, the market has a total trading volume of over $500 million despite being a relatively new NFT market.

Binance NFT Marketplace

Binance NFT Marketplace, built on the BNB Chain (formerly Binance Smart Chain) network, is an NFT platform that allows users to buy and sell all types of collectibles and digital artworks.

Launched by leading exchange Binance, the platform aims to bring together artists, creators and crypto enthusiasts and offer collectors the opportunity to create and trade NFTs.

Binance NFT Marketplace currently offers over 2.5 million NFTs for trading. Interestingly, the market charges the lowest transaction fees in the industry at 1% for all NFT sales. This is one of the advantages of the market owned by the largest stock exchange in the world.

Additionally, the marketplace offers a range of high-quality and exclusive NFTs from top artists and influential brands, as well as mystery box deals featuring rare NFTs.

NBA top shot

NBA Top Shot is an NFT marketplace that allows NBA players and fans around the world to collect, store and trade digital cards representing short basketball videos known as “Moments”.

These limited-edition tokens contain videos and stats that represent a rare moment. Users can unlock extremely rare tokens by completing specific token sets representing relevant moments.

The marketplace is built on the Flow blockchain and has seen some crazy sales since its inception in early 2019. Several NBA top shot moments have sold for hundreds of thousands of dollars. For every NFT transaction, the platform charges a 5% transaction fee.

The top 3 NBA top shot tokens on the platform are Lebron James highlights which sold for $230,023, $210,000 and $208,000 respectively.

Decentralized

Launched in 2020, Decentraland is a virtual world NFT platform built on the Ethereum blockchain. The platform allows NFT artists and creators to have full rights to their works.

Users have access to a wide range of digital collections on Decentraland, including land, in-game clothing, and real estate. The platform’s native token MANA is used to buy all of these assets.

The platform has seen some huge NFT earnings. For example, in November 2021, a virtual lot was sold on Decentraland for $2.4 million.

Stashh

If you love privacy, you will love this NFT marketplace. Stashh is proud to be the premier marketplace for NFT Secret, meaning you can mint, buy, and sell private NFTs on the platform by default.

Stashh enables NFT creators to monetize their content and protect intellectual property while…

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