Guide to different NFT markets

Not all NFTs perform the same function or are issued on the same blockchain. To find your way around and find out what they offer, JDN provides an overview of the sector.

Like the price of cryptocurrencies, the NFT market has largely fallen since its peak in January, when global transaction volume reached $4.8 billion according to analytics site In September 2022, the main NFT markets accumulated a transaction volume of barely $500 million.

However, and as shown in France by the releases of ledger unicorn market Where opening of the NFT Factory location in Paristhe ecosystem is far from dead, contrary to some popular beliefs.

For those eager to get their first NFT, here is a list of the top markets.

General NFT Markets

These markets are generally the entry point for first-time NFT purchases, in particular The open sea, by far the largest NFT buying platform of all types, with around 80% of the market. Since NFTs are tokens issued on public blockchains, they are not exclusive to any particular market. Thus, most markets are aggregators: it is possible in seems rare Where rare to buy an NFT originally listed on OpenSea. Therefore, they differ in their fees, ease of use, supported blockchains, rewards offered to their users or royalties given to artists. The newcomer Not clear (launched in October 2022) really confirms the trend of making royalties optional, started by the decentralized platform Exchange. Finally, the markets Strong AND Viv3 are the most popular showcases on the Flow blockchain.

Art markets

While it is quite possible to discover works of art on the platforms mentioned above, markets are specialized in the market, just like galleries: they play the role of curator, they can make a selection in the application or dedicate themselves to a very specific thing. field, such as generative art.

Older ones, usually on Ethereum, like Super rare, Known origin are seeing the development of competition with the arrival of new players such as FOUNDATION. On the Tezos blockchain, Object and especially hide stands out, especially the second specializing in generative art (these works designed and randomly generated by an algorithm from a base of elements provided by the artist), a discipline made popular by ArtBlocks in Ethereum.

Game markets

Games also have their own NFT markets, although these are not very versatile and more dedicated to a single blockchain. One of the most popular today is that of X Invariantthis layer-2 of Ethereum is increasingly adopted by the gaming ecosystem for its fast and very cheap transactions: we find there in particular the NFTs of the games Gods Unchained orImmortal game. Still very focused on collections (these series to collect), the platform of GameStop will also adopt NFTs from Immutable X. Dedicated to video games, the Wax block also has markets, starting with Atomic Market. As for the Enjin network, it offersEnjinXwith relatively modest activity.

Clothing markets

Discovering the metaverse is good, and wearing it is even better: virtual clothes are also common purchases, and some NFTs issued by brands (Gucci, Puma, Adidas, Nike with RTFKT) are especially popular. While clothes that can be used in Decentraland or Sandbox are also available in general markets like OpenSea, startup companies specialize in these clothing items: Dematerialized offers “phygitals” (physical clothes copied from their virtual clones) while DressX AND craftsman focus only on virtual objects.

Leave a Comment