When it comes time to buy their first NFT, the user is bound to face a series of questions: How to choose a collection? Which blockchain is better? In which marketplace is it better to buy the coveted token? We tell in the article.
Our site already has answers to the first two questions. In the upcoming drops category, you can easily pick up an exciting collection, and in our article, you will find out what blockchains are and how they differ. Today we will decide on the choice of an nft platform – we will consider the most famous ones, their advantages and disadvantages.
1. Opensea (Ethereum)
OpenSea was founded in December 2017 and, by 2019, had already attracted millions of investments. Two years later, the site reached a turnover of billions of dollars, and the number of users exceeded 2 million. Thanks to these factors, Opensea has become the largest NFT marketplace.
Today it is the most famous decentralized platform of the most popular blockchain. Ethereum boasts a sufficient number of marketplaces on its blockchain, but Opensea remains the clear leader. In addition to the Ethereum blockchain, there are others – Polygon and Solana. But they are used to a lesser extent by marketplace participants. This platform for selling NFTs has some advantages, thanks to which it has become the most popular. Let’s take a closer look.
Advantages:
- The most sensational collections ( CryptoPunks, Bored Ape Yacht Club ) are sold on this platform
- The site does not store purchased NFTs; items are sent to the user’s wallet
- Many categories of tokens – digital collections of images, music, art, etc.
- Free registration; you only need a wallet. Metamask is perfect (how to create a Metamask wallet – read our article)
- Application for Android and iOS
Flaws:
- Users may stumble upon token speculation while trading.
- Free site registration allows absolutely everyone to download collections; the task of selecting worthwhile collections is much more complicated
2. Magic Eden (Solana)
Created on the Solana blockchain in September 2021, a few months later, it became the most popular marketplace based on Solana, many times ahead of its competitors with outstanding indicators of one and a half billion turnover and the number of users – 865 thousand. This marketplace has several advantages over other projects of the same algorithm :
- Informative launchpad interface with many projects that can be tracked on the site
- Verification of downloaded collections
- An enormous list of supported wallets
- A separate category of Eden Games contains a vast number of game collections.
- Mobile application for iOS and Android
Among the shortcomings, one can highlight the reports of some users that when trying to sell a verified NFT, they encountered a message that it was impossible to sell since the collection was not verified.
It is also worth adding that the Magic Eden platform is expanding and integrating the Ethereum blockchain
3. Binance NFT marketplace (BNB chain)
The platform from the most famous and reputable crypto exchange Binance. Since the marketplace itself is tied to the ecosystem of the exchange, there are distinct advantages and disadvantages to this:
- Guaranteed security of transactions due to belonging to the exchange
- Low exchange commission
- Binance mobile app with all site functionality
- Russian localization
- Mystery box – a box with a random token from the collection
This platform’s key feature is the attachment to the exchange, so be prepared for more transaction processing times.
