Best Platforms to Buy NFTs in 2022

Best Platforms to Buy NFTs in 2022
| May 18, 2022

The concept of NFTs has taken the world by storm. This is hardly surprising since the market reached a cap of a whopping $40 billion. Compared to just $80 million in 2020, there’s no doubt that there’s a lot of money in NFTs. 

However, a lot of people seem to be asking themselves a simple question – how can I get in on this trend while it’s still on the rise? We’ve got you covered. Keep reading to find out some basic information about the craze – how to buy NFTs, what they are, and what are the best marketplaces in 2022. 

What are NFTs?

Before we dive into the pros and cons of various NFT platforms, we need to get back to the basics and see what NFTs are, what their purpose is, and whether they’re a viable financial investment. As you may already know, NFT stands for non-fungible token. In simple terms, they are not interchangeable, and no two NFTs are the same.

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For example, if you own any cryptocurrencies (Bitcoin, for example) – every coin you own is identical to others, and they will always have the same value. NFTs are unique, which is mostly the reason behind their popularity. If you buy an NFT, there is no one else in the world who owns it. 

Currently, the most popular form of non-fungible tokens is digital art. Companies are releasing their art collections, and many artists have found a simple way to sell their art by utilizing this trend. However, NFTs can include other things, including music, videos, and other forms of digital content. 

What are NFTs used for? 

Depending on the collection, NFTs have various purposes – they can be used as currency in the metaverse, tickets to various NFT-exclusive content, or as a simple addition to one’s private art collection, among many others. Holders of these tokens are usually eligible for some benefits, such as giveaways within the community. 

However, you might be wondering – how are NFTs a good financial investment? Aside from profiting by holding a token, you could also resell it, sometimes for a huge profit. For example, the CryptoPunks collection was released in 2017, and the NFTs were given away to anyone with an Ethereum wallet (with a slight gas fee).

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Well, in February of 2022, one of them (CryptoPunk #5822) was sold for over $23 million. The lucky holder of the NFT raked in a huge profit from this sale, and there are many others with similar successes. As a result, it’s easy to see why these tokens are the center of every conversation about investments. 

Best NFT Platforms in 2022

Most NFTs can be minted on release for a relatively low price. However, popular collections tend to sell out quickly, in a matter of minutes after launch. As a result, there’s a high demand for reliable NFT marketplaces. 

These marketplaces can be used to buy, sell, or auction various non-fungible tokens. Let’s take a look at our top choices for 2022 and how to buy NFTs using them.

  1. OpenSea
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Our top choice for the best marketplace in 2022, OpenSea is one of the oldest and largest NFT platforms. Launched in 2017, it has quickly become the industry standard, with over one million active users. The company boasts an impressive $13 billion valuation as of January of 2022, a huge spike from the $1.5 billion 6 months earlier. 

Practically speaking, OpenSea has the most options, with over 80 million tokens stored in 2 million collections. They offer various types of NFTs, including art, music, and sports collectibles. As a result, it’s a great choice for investors, as well as artists who wish to sell their products.

You can easily create a free account and start browsing the vast marketplace. The platform is easy to navigate and you can simply find new opportunities by using the “Explore” option. OpenSea recently started using the Polygon blockchain, reducing fees for potential buyers.

  1. Nifty Gateway
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Nifty Gateway is another popular choice for many investors, and it’s a fan favorite on Twitter. Interestingly, two of the most expensive NFTs were sold using the platform, with Pak’s The Merge holding the record at $91.8 million. The platform is powered by the Ethereum blockchain and it’s mostly used for digital art.

However, our favorite part of this marketplace is a simple fact that you can buy NFTs using fiat currency. In other words, you can use your own credit/bank cards to get your hands on popular tokens, without the use of a crypto wallet. This is a great option for beginners and makes the process of buying NFTs a lot easier. 

  1. Rarible
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Last but not least, Rarible was founded in 2020 and it deserves a spot on our list. Although it’s mostly used as a platform for art and collectibles, the marketplace also features other types of NFTs, including 3D content. It supports Ethereum, Flow, and Tezos blockchains. 

If you’re concerned about the environmental impact of NFTs, Rarible is a great choice. Flow and Tezos are much more friendly and the gas fees are considerably lower. For example, Tezos gas fees run around $0.5 per transaction, while you can expect to pay $15+ for a single transaction using the Ethereum blockchain. 

How to Buy NFTs?

Depending on the platform, there are multiple ways to purchase your preferred non-fungible tokens. Some require a crypto wallet powered by ETH, while others can be bought using fiat money. Some marketplaces charge for every transaction, others offer no fees. It all depends on your choice and personal preference since all marketplaces have their pros and cons. 

Conclusion

To sum up, there’s no stopping the NFT craze. Many see these tokens as a great financial opportunity, and for good reason. There are billions of dollars circulating the market, and you should look into getting in before it’s too late.

To do that, you need to know where to start. We’ve listed the most popular NFT marketplaces, why you should use them, and what benefits you can reap by becoming a holder of a well-known non-fungible token. 

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