3 Top NFT Marketplaces Using Immutable X 2022 | Reputable Sites for Beginners, Artists & Gaming

The popularity of NFTs has skyrocketed in recent years, with the market reaching a $40 billion valuation in 2021. If you are looking to get involved in the NFT market, choosing a reputable and cost-effective marketplace to make your investment should be one of your top priorities.

In this guide, we’ll discuss the best NFT marketplace in detail by reviewing the top platforms in the space and showing you how to purchase NFTs today – all from the comfort of your own home.

The Best NFT Marketplaces Reviewed

As you can see from the list above, there are numerous top NFT platforms to choose from, each offering a slightly different set of features and fee structure. To help you gain a clearer understanding, let’s dive in and review each platform individually:

1. Crypto.com – Overall Best NFT Marketplace

When deciding where to buy NFTs, our number one pick is Crypto.com. This popular Ethereum NFT marketplace is one of the top cryptocurrency exchanges globally and is used by over ten million people. Aside from its popular crypto-trading services, Crypto.com has recently launched its own NFT marketplace. The marketplace was established in 2021 and offers NFTs from categories such as art, celebrities, gaming, sport, music, and crypto.

Crypto.com aims to make the entire investing process easy, as users can sign up for a Crypto.com NFT account in minutes. NFTs are available via auction or for a fixed price – and users can purchase NFTs using their credit or debit card. Alternatively, NFTs can be bought using cryptocurrency through the ‘Crypto.com Pay’ gateway. The most appealing thing about the buying process is that there is no transaction fee to purchase an NFT with Crypto.com, which is in stark contrast to many other platforms.

The NFT marketplace itself is easy to navigate and is accessible to beginners as well as experienced investors. Crypto.com has already collaborated with many high-profile names, such as Snoop Dogg and Boy George, adding a level of hype to the platform’s NFTs. Finally, a recent press release from Crypto.com announced that the platform now supports Ethereum-based NFTs – greatly expanding the options for investors!

Additionally, Crypto.com also offers the best NFT app allowing you to buy and sell NFTs directly from your mobile device.

Your capital is at risk.

2. Binance – Low-Fee NFT Trading Platform

Another highly-recommended platform if you’re looking to buy NFTs is the Binance NFT Marketplace. As the name implies, this marketplace is run by Binance – the world’s largest cryptocurrency exchange, according to CoinMarketCap. Binance prides itself on offering low fees, and this extends to the NFT marketplace, as users can buy NFTs with only a 1% transaction fee. Furthermore, the Binance NFT Marketplace offers NFTs on the Binance Smart Chain and the Ethereum blockchain, ensuring a vast selection of tradeable assets.

The marketplace’s interface is easy to navigate and features NFTs in collections that include art, sports, entertainment, gaming, collectibles, and more. Binance also offers an attractive ‘Mystery Box’ feature, in which users can purchase a box and obtain a random NFT that could be extremely valuable. The great thing is that if you already have an account with Binance, you can use the same credentials to use the NFT marketplace.

At present, the Binance NFT Marketplace website only allows NFTs to be purchased using crypto – although users who do not own digital currency can buy some easily through the Binance exchange. NFTs can be purchased through an auction or for a fixed price and can be transferred to an external wallet. Finally, the Binance NFT Marketplace even allows users to mint their own NFTs, with low fees paid in BNB – the platform’s native token.

Your capital is at risk.

3. OpenSea – Top NFT Marketplace with Huge Asset Selection

Many people believe OpenSea is the best place to buy NFTs, as this marketplace is the largest in the world when it comes to trading volume. OpenSea was the first platform to bring NFT trading into the mainstream and has reached over one million users since its launch. The marketplace is built on the Ethereum blockchain and offers various NFT types, such as art, domain names, in-game items, and more.

One of OpenSea’s best features is that the platform supports over 150 cryptocurrencies as a payment method. This makes it simple for investors to buy and sell NFTs using their crypto balance. In terms of fees, OpenSea charges a 2.5% transaction fee to sellers when their item sells, with no costs to the buyer (other than standard network fees). Finally, OpenSea supports 14 different crypto wallets and allows users to link their wallets to the marketplace in just a few clicks.

4. Nifty Gateway – Best NFT Platform for Rare Drops

Another of the top NFT marketplaces to consider is Nifty Gateway. Nifty Gateway focuses on ‘premium’ NFT drops, which are NFT releases with a limited number of assets. The platform features a wide variety of famous artists and creatives, with drops in the past coming from the likes of Steve Aoki and Grimes. Due to these NFTs being highly sought after, Nifty Gateway’s selection is tailored more towards high-end investors.

Nifty Gateway is part of Gemini, the cryptocurrency exchange founded by the Winklevoss Twins. If you are based in the US, you’ll be able to buy NFTs using your credit or debit card. However, if you are outside of the US, you’ll need to use the crypto stored on your Gemini account. Finally, Nifty Gateway charges a 5% fee to the seller of each NFT, along with a $0.30 transaction charge.

5. GameStop – Upcoming NFT Platform for Blockchain Gaming

The GameStop marketplace is one of the most exciting NFT platforms due to launch this year. As referenced in an article by The Verge, GameStop looks to expand out of purely selling video games and create a foothold within the NFT space. The company is developing a massive fund for game developers that opt to use the GameStop marketplace over alternatives, with the NFT platform being built on Immutable X – a Layer-2 protocol for Ethereum.

As you might expect, the GameStop marketplace will primarily focus on in-game items, such as digital properties, weapons, costumes, and more. The specifics of the platform are still unclear. However, most reports state that GameStop will look to partner with giant video game developers to offer collectible NFTs that will appeal to fans of specific franchises.

6. DraftKings – Popular NFT Marketplace for Sports Collectibles

DraftKings is a huge US-based betting company that primarily focuses on sports betting. The company launched its own NFT marketplace in late 2021 and boasts limited-edition assets from many top sportspeople. Notable NFTs that have been listed on the DraftKings marketplace include items from Tom Brady, Tony Hawk, Wayne Gretzky, and more. Users who already have a DraftKings account can easily access the marketplace with their standard login credentials.

At present, the marketplace offers over 300 collectibles to purchase, ranging from cheaper options to premium price points. Users can fund their DraftKings account via credit/debit card, bank transfer, wire transfer, and even PayPal. Notably, only USD purchases are allowed, and DraftKings doesn’t support crypto purchases at this time. Finally, transaction fees for initial drops are unclear, although sales in the secondary market will accrue a 10% royalty fee to the initial creator and a 5% transaction fee.

7. Rarible – Leading NFT Art Marketplace

Rarible is one of the best NFT art marketplaces for investors, as the platform hosts a vast selection of digital art, along with photography, games, music, domains, and even metaverse items. The platform charges a 2.5% fee to both buyers and sellers, putting it at the higher end of the cost spectrum. However, Rarible does have multi-chain support and can host NFTs built on Ethereum, Flow, and Tezos.

One of the great things about Rarible is that users can buy NFTs using their credit or debit card. Over 190 countries are supported, making it simple to purchase Rarible NFTs throughout the globe, so this is one of the biggest NFT marketplaces. Finally, Rarible also supports a range of wallets, such as MetaMask and Coinbase, ensuring investors can store their assets safely post-purchase.

8. WAX – Popular NFT Marketplace with Over 140,000 Assets

WAX is a blockchain network launched in 2017 that is designed to improve the efficiency of e-commerce transactions. The network is compatible with EOS and leverages the power of the blockchain to compete with Ethereum, aiming to be the leading network in the space. The WAX NFT marketplace itself is called ‘SimpleMarket’ and offers over 140,000 digital assets to trade.

The vast majority of WAX NFTs are denominated in WAX – the network’s native token. However, there is also a super-popular secondary market for WAX NFTs on AtomicHub, which claims to provide exchange services with no gas fees. High-profile brands have already used the WAX blockchain to mint their NFTs, such as Atari and Sony, adding a significant degree of credibility to the platform. Finally, the fee structure is relatively unclear for initial NFT releases, although WAX does charge a 2% transaction fee in the secondary market.

9. Foundation – Premium NFT Marketplace for Exclusive Art

If you’re wondering where to buy NFT art, then Foundation is worth considering. Foundation is a leading NFT marketplace that primarily focuses on offering exclusive art drops. The NFTs listed on the Foundation marketplace are offered via auction, with most running for 24 hours after the first bid is placed. Built on the Ethereum blockchain, Foundation’s interface is sleek and makes it easy to find the digital art you’re looking for. In terms of fees, Foundation charges a 15% service fee to the seller on each transaction – the highest charge on our list.

However, this NFT art marketplace does allow sellers to recoup some of this by offering 10% royalties on sales through the secondary market. As Foundation is hosted on Ethereum, users must use ETH to pay for NFT purchases. At present, Foundation only supports wallets set up through MetaMask or WalletConnect, which can limit the accessibility for investors.

10. Mintable – One of the Best NFT Platforms for Beginners

Rounding off our breakdown of where to buy NFT tokens is Mintable. Mintable is an NFT marketplace built on the Ethereum blockchain that is ideal for newcomers to the space. The marketplace was launched in 2018 and aims to make the buying and selling process as straightforward as possible. In terms of asset selection, Mintable currently offers NFTs in categories such as art, music, videos, sports, collectibles, and more.

At present, Mintable supports the Ethereum, Immutable X, and Zilliqa blockchains, ensuring a wide variety of assets for investors to choose from. In terms of the buying process, Mintable allows users to make their payments using ETH or with a credit/debit card. Notably, there is a 5% service fee for paying using a card, so these transactions can be costly. Finally, beginners will be glad to know that the process to link a crypto wallet and start investing is incredibly easy and can be completed in minutes.

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Best NFT Platforms Compared

Much like when you’re looking for the best crypto exchange, it’s crucial to gain a broad overview of the features and fee structure that each NFT marketplace offers. To streamline this process, the table below presents a breakdown of the critical information related to each of the marketplaces reviewed in the previous section.

Name	Approximate Number of NFTs	NFT Types	Supported Cryptocurrencies
Crypto.com	200,000+	Art	BTC, ETH, CRO
Binance	100,000+	Art + Music	BNB, BUSD, ETH
OpenSea	80m+	Art + Music	150+
Nifty Gateway	N/A (limited-edition drops)	Art + Music	ETH
GameStop	N/A	In-Game Items	N/A
DraftKings	300+	Art	N/A (only FIAT currency)
Rarible	300,000+	Art	ETH, XTZ, FLOW
WAX	140,000+	Art + Music	WAX
Foundation	158,000+	Art	ETH
Mintable	6700+	Art + Music	ETH

What is an NFT Marketplace?

Put simply, NFT marketplaces are online platforms where NFTs can be bought, sold, or minted. NFT marketplaces can be thought of as vast online stores, where users can browse the selection of items up for sale and make purchases. Since NFTs are hosted on the blockchain, the vast majority of NFT marketplaces will require users to have a crypto wallet to store NFTs post-purchase.

NFT marketplaces tend to denominate listed assets in digital currency – with Ethereum being the most widely used. Once NFTs are purchased, ownership is transferred from the seller to the buyer, which will incur a network transaction fee. Thanks to the incredible rise in popularity of NFTs, new NFT marketplaces are regularly launching, each trying to find a specific ‘niche’ within the broader market.

So, you bought your first NFT and now you want to have it physically at home? Yes it is possible with FlowNFT

How do NFT Marketplaces Work?

Due to the digital nature of NFTs, these marketplaces work a little differently than with other assets. As noted above, it’s essential to have set up the best crypto wallet UK in advance, as this will be required to store your NFTs after purchase. Aside from a crypto wallet, you’ll also need to own some cryptocurrency that is applicable to the NFT you’re interested in buying. Most marketplaces list NFTs in ETH, although some use XTZ, FLOW, or other digital currencies.

In terms of how these marketplaces work, they offer three primary services:

• Buying NFTs: Investors can purchase NFTs through an auction or a fixed-price listing. Once purchased, ownership of the NFT will be transferred to the buyer.
• Minting NFTs: Many NFT marketplaces allow users to mint their own NFTs. This involves turning their creation into a digital asset hosted on the blockchain.
• Selling NFTs: Finally, NFT marketplaces allow sellers to list their NFTs for others to buy. Once sold, sellers will usually have to pay NFT selling platforms a portion of the received amount as a fee – although many platforms offer royalties for sales in the secondary market.

Types of NFT Marketplaces

When deciding where to buy NFT tokens, it’s vital to gain a comprehensive understanding of the various types of NFT marketplaces on offer. Presented below is a breakdown of the main types, ensuring you’re able to choose one that suits your needs:

NFT Art Marketplaces

As the name implies, these marketplaces focus exclusively on NFT art. Leading marketplaces within this category include OpenSea and Rarible, which allow creators to mint digital art NFTs and sell them to collectors.

To keep up with the latest NFT drops, check out our NFT calendar.

NFT Music Marketplaces

A recent article by Forbes stated that NFTs could shape the future of music, with songs, albums, lyrics, and soundbites all able to be structured as NFTs. NFT music marketplaces specialise in this area, allowing collectors to buy these music NFTs that tend to be offered by leading artists.

Ethereum NFT Marketplaces

These marketplaces are built on the Ethereum blockchain and offer digital assets denoted in ETH. The largest Ethereum marketplace right now is OpenSea, which was recently estimated to be worth a remarkable $13.3bn.

Solana NFT Marketplaces

Solana NFT art marketplaces are hosted on the Solana blockchain, which offers a faster alternative to Ethereum. Furthermore, Solana is also highly scalable, which provides scope for lower network fees. There aren’t many significant marketplaces hosted on Solana at present, although Solanart and Solsea are the two largest. Check out our guide on how to buy Solana if you want to invest in NFTs using this crypto.

Algorand NFT Marketplaces

Algorand is another blockchain network that has delved into NFTs recently, with multiple Algorand NFT marketplaces springing up. Since Algorand is a pure proof-of-stake (PPoS) blockchain, the entire investment process is considered greener and more scalable than the current Ethereum structure.

Tezos NFT Marketplaces

Tezos is an open-source blockchain that functions using its native token, XTZ. Tezos NFT marketplaces have become more popular over the past year, with major marketplaces such as Rarible now offering Tezos-based NFTs.

BNB NFT Marketplaces

Finally, BNB NFT marketplaces leverage the popularity of Binance Coin – the native token of the Binance cryptocurrency exchange. The most prominent marketplace is the Binance NFT Marketplace itself, which allows users to buy NFTs denoted in BNB.

NFT Marketplace Gas Fees

When using the best Ethereum NFT marketplace, you’ll need to be aware of gas fees. Put simply, these fees correlate to the computing energy that is required to complete certain transactions. Relating this to NFTs, gas fees accrue when an action takes place on the blockchain network – for example, transferring ownership of an NFT to another person.

These fees apply because the Ethereum blockchain uses a ‘Proof-of-Work’ consensus algorithm, similar to Bitcoin. This means that ‘miners’, which are essentially powerful computers, will be the ones who process and approve certain blockchain transactions. As this process requires a lot of energy, market participants must pay gas fees as compensation.

The critical thing to be aware of is that gas fees are not set in stone – they can vary wildly. Fees fluctuate depending on network congestion levels, so when many people use the network, costs will be higher. Furthermore, gas fees can also be higher if you want your transactions to be completed quicker – for example, certain platforms allow you to opt for a ‘slower’ minting speed so that you can pay less in fees.

When using an NFT marketplace, there are two main types of gas fees to be aware of:

One-Off Gas Fees

Certain NFT marketplaces (such as OpenSea) will require users to pay a one-off fee to initialise their crypto wallets. This fee applies to users who have not previously sold an NFT on the marketplace. Again, there is no set fee for this, although it tends to be quite expensive and can range between $50 to $300 depending on congestion levels.

Recurring Gas Fees

Recurring fees also apply when you conduct general network tasks. These include accepting an offer on an NFT that you listed, transferring ownership of an NFT to someone else, purchasing an NFT, cancelling a bid that you placed on an NFT auction, and more.

Where to Buy Crypto to Use on Marketplaces

As you’ll know by now, the vast majority of NFTs are denominated in digital currency – with ETH being the most widely used. Due to this, you’ll need to own some ETH before you’re able to make an NFT purchase. If you’re wondering how to buy Ethereum (or any other applicable crypto), then we’d recommend partnering with eToro.

Through our research and testing, we’ve found eToro to offer the best way to buy cryptocurrency, as the platform is regulated by numerous top-tier entities, including the FCA, ASIC, CySEC, FINRA, and FinCEN. eToro doesn’t charge any hefty transaction fees when buying cryptocurrency, as all costs are incorporated into the tight spread. Notably, eToro allows investments from only $10 (£7.73) – ideal for beginners.

Users can deposit into their eToro account via credit/debit card, bank transfer, or e-wallet – with supported options including PayPal, Skrill, and Neteller. The process to buy crypto is streamlined, with users able to invest on the browser-based platform or the web app. Finally, eToro users can also download the broker’s free crypto wallet app, ideal for storing crypto safely.

How to Buy Crypto for NFTs on eToro

Now that you have an idea of what the best NFT platform is and how NFT marketplaces work, let’s explore the process of buying your first digital asset. Since NFTs are denominated in digital currency, you’ll need to purchase some crypto to facilitate your NFT purchase.

The most popular crypto used within the NFT industry is ETH – which is also used to pay for any applicable network fees. With that in mind, the four quick steps below will show you how to buy ETH with our recommended broker, eToro – all in a matter of minutes.

Step 1 – Create an eToro Account

Head over to eToro’s homepage and click ‘Join Now’. Enter your email address and choose a username and a password for your account.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Step 2 – Verify Account

Click ‘Complete Profile’ on your account dashboard and complete the required KYC checks. You’ll then be asked to upload proof of ID (passport or driver’s license) and proof of address (bank statement or utility bill).

Step 3 – Make a Deposit

Deposit at least $10 (£7.73) into your eToro trading balance. eToro supports credit/debit cards, bank transfers, and e-wallet deposits, which are free to make if made in USD.

Step 4 – Buy ETH

Type ‘ETH’ into the search bar and click ‘Trade’ when Ethereum appears. Enter your position size (minimum $10) in the order box, double-check everything is correct, and click ‘Open Trade’.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Step 5 – Send ETH to Crypto Wallet

Once you’ve purchased ETH, you’ll have to send it to a crypto wallet so that you can use it to buy NFTs. There are numerous wallets to consider, although MetaMask is one of the most widely used.

First, you’ll need to download the eToro Money app and log in using your eToro credentials. Once logged in, go to the Portfolio page on eToro and opt to send it over to eToro Money.

Then, open up your eToro Money app and tap ‘Send’ next to your Ethereum holdings. You’ll then be asked to enter your wallet address, which you can find easily through your wallet provider. After confirming the transaction using the code that eToro will send via text message, your ETH holdings will be transferred to your external crypto wallet.

How to Buy NFTs on a Marketplace

Finally, once you’ve obtained the digital currency necessary to make your NFT purchase, let’s discuss the investment process. The quick steps below will show you how to buy an NFT with Crypto.com – our pick for the best NFT platform this year.

Step 1 – Open a Crypto.com NFT Account

Navigate to the Crypto.com NFT marketplace and click ‘Sign Up’. Provide your full name and email address, before choosing a username and a password for your account.

Step 2 – Verify your Account

Next, you will have to verify your account. There are two ways to do this:

• If you already have a Crypto.com trading account, you can link your NFT account to that account by clicking ‘Connect to App’ in the settings menu. After this, you will receive an email asking you to confirm the link – once approved, your NFT account will be verified.
• If you do not have a Crypto.com account, you can verify your NFT account via text message. Enter your mobile number in your account settings menu, and Crypto.com will send you a security code. Once you’ve received the code, enter it on the settings menu to verify your account.

Step 3 – Browse NFTs

Now you can scroll through the Crypto.com NFT marketplace and look for a collectible that you’d like to purchase. Once you’ve found one, click on it to be taken to the listing page.

Step 4 – Buy an NFT

Crypto.com allows sellers to list their NFTs for a fixed price or through an auction. If it is the former, you can instantly buy the NFT by clicking the ‘Buy for X’ button. If it is the latter, you will have to place a bid and participate in the auction process.

Either way, Crypto.com will allow you to pay for the NFT using Crypto.com Pay – which can facilitate the purchase using the ETH that you transferred to your crypto wallet in the previous section. Once purchased, you can then view your new NFT in the ‘Collectibles’ area of your Crypto.com account.

Your capital is at risk.

Latest News on NFTs

With the NFT market growing exponentially, numerous elements are changing and adapting regularly. Presented below are some of the major NFT news headlines to be aware of and how they could impact the overall market:

• Club Gorgon and Dani Alves Team-Up: Famous football player Dani Alves, who won countless trophies whilst playing for Barcelona, has teamed up with the Club Gorgon NFT project. The project involves a collection of 6,666 pieces of Medusa-themed art and was released on the 20^th of February through the Elrond blockchain.
• L’Oréal Enters the NFT Market: Cosmetics giant L’Oréal is set to enter the metaverse after patenting 17 different trademarks related to virtual items. Rumours are circulating that the brand may soon open a virtual store, which would be a milestone moment for NFTs.
• Manchester City Create Stadium in the Metaverse: English football club Manchester City FC is poised to recreate its famous stadium in the metaverse. This will allow spectators to ‘attend’ the stadium virtually, with the entire process facilitated by collaborating with Sony.

Best NFT Marketplace – Conclusion

In conclusion, this guide has discussed the top NFT platforms available to investors today, highlighting their features and exploring various marketplace types. Deciding where to buy NFT tokens for the first time can seem daunting – although if you use the information presented in this article, you’ll be able to streamline the process significantly.

Since most NFTs will require ETH to pay network fees, we recommend creating an account with the FCA-regulated broker, eToro. eToro allows users to buy ETH with no transaction fees and tight spreads – with minimum deposits from as little as $10 (£7.73)!

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

FAQs

What is an NFT marketplace?

An NFT marketplace is an online platform where investors can purchase NFTs. These platforms tend to facilitate purchases using crypto, although some allow credit/debit card purchases.

What is the largest NFT marketplace?

The largest NFT marketplace in terms of volume and asset selection is OpenSea, which has been in operation since 2017.

Where is the best place to buy NFTs?

Our pick for the best NFT platform is Crypto.com, as there are no transaction fees to contend with, and users can invest in NFTs using a credit or debit card.

What is the best NFT marketplace for artists?

Most of the marketplaces on our list offer a suitable medium for artists to mint and sell NFTs. However, Rarible is one of the top NFT art platforms and offers NFTs in a massive range of categories.

Which NFT marketplace is best for beginners?

Mintable has been designed with beginners in mind, as it has no advanced jargon and a sleek interface. However, Crypto.com and Binance are also beginner-friendly platforms.

Where can I buy NFTs?

You can buy NFTs through any of the ten platforms we reviewed earlier in this guide. All that’s required is a crypto wallet for storage, and you’re good to go.

What NFT art sells best?

NFT art minted by high-profile names tends to attract the greatest attention. Furthermore, leading collections such as CryptoPunks are also super-popular with investors.

What are the best NFT platforms?

We rank Crypto.com, Binance, and Open Sea as the best platforms for buying NFTs.

What are the best top NFT minting platforms?

Binance, Crypto.com, Open Sea, Rarible, and Enjin and all among the best platforms for NFT artists who want to mint their creations.