IFCCI

NFTs

Where Can You Buy (and Sell) NFTs?

2 min readLesson 7 of 9
78%

Learning Objectives

  1. 1Differentiate between centralized and decentralized NFT marketplaces
  2. 2Identify the major NFT marketplace platforms and their unique features
  3. 3Understand the trade-offs between marketplace oversight and open access
  4. 4Know where to find and trade fractional NFTs (F-NFTs)

If you've decided that buying or minting NFTs is something you want to pursue, the next step is finding trustworthy platforms where you can do so safely.

Avoid jumping into purchases from "promising NFTs with huge profit potential" promoted by some random "fintech guru" in a Discord group — that's a recipe for trouble.

When it comes to NFT marketplaces, there are two main types:

Centralized Marketplaces

These platforms have a governing authority that handles important tasks like verifying copyrights and authenticating NFT ownership. Because of this added oversight, centralized marketplaces often impose certain rules or charge extra fees on transactions.

Decentralized Marketplaces

In contrast, decentralized marketplaces operate without a central authority. This openness means anyone can list NFTs—real or fake—so buyers need to exercise caution.

Among the many options out there, a few NFT marketplaces have earned strong reputations:

OpenSea

OpenSea is the largest and one of the earliest NFT marketplaces, hosting around 35 million NFTs across categories like digital art, gaming collectibles, virtual real estate, and domain names. It supports Ethereum, Polygon, and Klaytn blockchains, and allows buyers to pay with over 150 different tokens. You can purchase NFTs either at fixed prices or via auction.

SuperRare

SuperRare focuses on high-quality digital artwork and operates as a peer-to-peer marketplace. Currently, it only accepts payments in ETH, and users need a MetaMask wallet. What sets SuperRare apart is its rigorous vetting process for artists, ensuring only carefully selected creators can list their unique or one-of-a-kind pieces on the platform.

Rarible

Rarible is a popular marketplace, especially for tokenized digital collectibles. It supports minting, buying, and selling NFTs in categories including art, photography, music, animation, domains, metaverse assets, and games. Like OpenSea, Rarible offers both fixed-price sales and auctions. A notable feature is that creators can earn royalties on resales of their NFTs, providing an ongoing income stream.

Other Marketplaces

If you're interested in fractional NFTs (F-NFTs), which let you buy a portion of an NFT without paying the full price, platforms like Fractional and Niftex are worth exploring. Additionally, major crypto exchanges like Binance and Coinbase have also launched their own NFT marketplaces to tap into this booming market.

Key Takeaways

  1. 1Centralized NFT marketplaces verify copyrights and authenticate ownership, but charge extra fees and impose rules
  2. 2Decentralized marketplaces allow anyone to list NFTs without oversight, requiring buyers to exercise greater caution
  3. 3OpenSea is the largest marketplace hosting ~35 million NFTs; SuperRare focuses on curated high-quality art; Rarible supports creator royalties
  4. 4Fractional NFT platforms like Fractional and Niftex allow buying portions of high-value NFTs without paying the full price

Knowledge Check

1. What is the key difference between centralized and decentralized NFT marketplaces?