The Non-Fungible Token Market, also known as the NFT Market experienced massive growth of 299 percent in the past year. If you’re not yet familiar with the NFT Market, it is a collection of thousands of digital crypto assets which are not to be confused with cryptocurrencies. The term fungible describes cryptocurrencies including Ethereum, Bitcoin, and similar currencies, and these currencies can be broken down into smaller components such as currency increment units. NFTs are data that cannot be broken down into smaller units. The kinds of NFTs in existence are nearly limitless and can include anything such as collectible in-game purchases, education certificates, licenses, and more. Of the thousands of NFTs that are available across the marketplaces, there are specific tokens that investors are eyeing as potentially profitable investments. Here are the five NFT Marketplace that is out right now.
Terra Virtua Kolekt, also known as TVK is a platform collaboration with Paramount Studios, Legendary Studios consisting of immersive collectibles. This NFT launched in 2019, and other leaders in the industry. This NFT marketplace allows collectors and artists to access a system of cross-platform ecosystems. It comprises an NFT crypto project that allows online viewing of its digital assets through a mobile app using Augmented Reality technology in a 3D environment. TVK’s partnership with digital houses in the mainstream has resulted in $2.6 million in token sales so far with a current daily platform volume of nearly $24 million.
Superrare is n NFT that was launched in 2017. The name is somewhat descriptive of the service it represents. It’s a tool that is used for tracking specific information about collectibles such as rare art pieces, and more. It relies on the backing of the Ethereum blockchain to track the complete history of a collectible to arrive at the authentic pricing for the piece. Anyone can access it but nobody controls it. The Superrare platform is designed for artists who wish to create a piece of art and then tokenize it. It becomes a part of a new digital art piece that is linked with a non-fungible token forever, which makes it more than just a token. The original creator of the art may collect fees from resales that are similar to royalties. Each tie the NFT is sold, a part of the sale goes to the artist. The fees that are paid aggregate as a function of the smart contract code that translates into an automatic royalty for art that is guaranteed and continues even after the artist is no longer in possession of the piece. All transactions in Superrare occur through Ether and must be purchased to use this particular platform using MetaMask. The incoming volume of the platform is more than $2.93 million with just 750 users.
NiftyGateway is an NFT market that was launched in 2018. The founders of Nifty are the Cock Foster twins who sold it to Tyler and Cameron Winklevoss. They launched Gemini and won a lawsuit against Mark Zuckerberg. They transformed the Nifty Gateway into a digital art center that has become one of the most successful of its kind. The Nifty Gateway is for purchasing crypto art collectibles that are called Nifties. Purchases are made with a credit card. The nifties are made of crypto applications and games including but not limited to Gods Unchained and CryptoKitties. Buying on the platform is a simple process. Just go to the marketplace, choose a nifty, provide your credit card, hit the purchase button, and the purchase is complete. You can tear your nifties on your Nifty Gateway account or you also have the option of sending it to your Metamask wallet.
Rarible is a platform that was founded by Alexei Falin and Alex Salnikov in the early part of 2020 in Moscow. The platform is a digital NTF marketplace that is concerned with art assets. It’s designed for users interested in trading a variety of different digital collectibles and NFTs. The Rarible platform is also useful for the creation o minting type NFTs. It attracts a variety of content creators who can sell their creation which includes but are not limited to movies, music albums, books, and more as NFTs. Artists can offer sneak peeks of the content to buyers such as a trailer, snippet, or preview before releasing the full content. When a buyer makes the purchase of the respective NFT they are given full access. Rarible has provided young talent with opportunities for showcasing their creations. So far, Rarible has amassed a total of more than 24 thousand users. The platform has been made safer as early on, scammers were detected. It now requires a verification process to protect users from scammers. It’s a platform that is used by celebrity personalities as well with actress Linsey Lohan launching Bitcoin Lightneihg for just over $50,000. Rarible offers an autonomous platform that is mostly governed by the community and is moving towards a decentralized autonomous organization that gives users the power to make governance decisions on the platform, making Raribl’s RARI governance token essential. The current incoming volume on the Rarible platform has exceeded $9.92 million.
OpenSea was launched in 2018 as the first decentralized non-fungible token marketplace where users were free to trade, buy, and sell NFTs. It’s the largest marketplace currently for digital goods. This NFT is a marketplace where all manner of digital items are available including, but not limited to domain names, game items, collectibles, digital art, and digital representations o physical assets. The platform behaves similarly to an NFT eBay with hundreds of categories of assets that are uniquely organized. Some notable users have been known to use OpenSea including Logan Paul who launched his first NFT that brought him in a net profit of more than $3.5 million. Other notable figures have shown an interest in the space including Gary Vaynerchuk and Mark Cuban. It’s the largest NFT marketplace with more than 4 million assets and a monthly volume of 4,000 ETH and over 135 dapps.