NFT marketplace is a virtual economy platform that works in a peer-to-peer model. This allows artists to showcase and list their art in the form of digital tokens and buyers/investors can purchase those jpegs in the form of an asset. It is very similar to buying products online through your digital or E-wallet payment system. After determining the possible price of this Non-Fungible Token (NFT) the Artist can choose from several options whether they want to list the NFT as a specific Fixed price or run an auction where the highest bidder gets to own the NFT.
Best NFT Marketplaces In India
To get started with the process of buying your first NFT you need a crypto wallet mainly Metamask, Trust Wallet or any form of a digital wallet. And NFT Marketplace is a place where you can purchase these Digital Assets using your Digital Crypto Wallet. Here’s a list of a few of the top NFT marketplaces you should check out.
WazirX was founded in 2018, and it is an Indian cryptocurrency exchange with over 7.3 million users. The platform was acquired by the crypto trading platform Binance. They launched the NFT marketplace dedicated to regional and traditional creators. The platform is known to host its first NFT exhibition and is popularly known to be a good option for beginners. It charges users 5% of service fees, and creators can keep the rest of the proceedings. The platform recorded $38 billion trading in a record year by November 2021 and even crashed after heavy user activity was seen based on news of the Indian government cryptocurrency bill decision.
To access the WazirX marketplace you need to head over here and click on Connect Wallet button at the top to connect your Metamask Wallet. The marketplace work on the Binance Smart Chain network and you need WRX token in your wallet to place a bid or buy an NFT.
Jupiter Meta has just announced that it has launched India’s first fully curated innovative marketplace. It is focused on creating singular metaverse experiences via music films and games. Their NFT ‘Icons of Singara Chennai’ cities culture through digital art, NFT of food, monuments, and beaches. It was founded in 2021 to trade NFT and various creative and cultural segments built into its metaverse. The marketplace offers fixed prices and a personalized experience. The platform is backed by Rubix blockchain technology of level-1 and has zero gas fees.
Access Jupiter Meta NFT Marketplace from Here.
This marketplace is described as the bridge between Bollywood and blockchain. Bollycoin is an NFT marketplace dedicated to collections inspired by Bollywood projects. Recently the platform unveiled their Dabangg collection, which is in collaboration with Salman Khan. In addition to that, the marketplace also offers movie clips, posters, and stills, among other collectables. Users can use their crypto coins to purchase NFTs and get royalties based on their activity.
Access Bollycoin NFT Marketplace from Here.
Also read: How To Invest In Metaverse? A Complete Guide
Founded in 2016, BuyUCoin is one of the leading crypto exchanges in India that serves over 350,000 users and handles over $300 million-plus in digital asset transactions. The company has announced that its mission is to bring crypto into billion Indian pockets. It enables users to buy and sell and trade 33 cryptos, including Ethereum, Bitcoin, Ripple, Stellar, among many others. The platform charges users a 0.24% maker fee.
The platform also has a dedicated NFT marketplace that has a UI very similar to Opensea and hosts some of the popular NFT projects that are up for grabs.
Access BuyUCoin Nft Marketplace from Here.
Rarible was announced in 2020 and was ranked as the top NFT marketplace. It was possible because of their given RARI, their native ERC-20 governance token. They support ERC721 as well as ERC1155 standards which is for creating multiple editions of one item. Rarible is built on Ethereum Blockchain and they have partnered with some big brands like Adobe and many other popular artists.
Access Rarible NFT Marketplace from Here
This platform came into LimeLight when it launched NFTs of the Bollywood superstar Amitabh Bachchan. As per the report, there were around 5,000 loot boxes, and they were sold in just 53 minutes. During the auction of those NFTs is, around 6 million people were present on the website. After one month, it later launched its second drop with Stan Lee’s co-creation Chakra The Invincible. It was also a big blast, and all the 6865 loot boxes were sold within just 51 seconds, and 5000 jukeboxes were sold in just 49 seconds.
The platform saw a great response from the people, and it can be called the first platform that brought India and NFT close. It is all set to provide an extraordinary trading experience to the Global community.
Access Beyond Life NFT Marketplace from Here
OpenSea marketplace was launched in 2018, and it was the most comprehensive range of NFT, including virtual world, art sports and collectables trading cards and domain names that are censorship-resistant.
The marketplace is the go-to NFT trading marketplace for most people and it holds more than 75% of all NFT transactions that take place on the Ethereum Network. The assets ERC721 and ERC 115 are included in the platform. You can also explore Bored Ape Yacht Club, CryptoKitties, Crypto Punks, Decentraland, Doodles, and other popular NFT assets. Its most prominent features are creating, buying, and selling digital assets. Mark Cuban, Logan Paul, and many others are among the many celebrities that use the platform.
Access Opensea NFT Marketplace from Here.
Binance NFT marketplace
Binance is attracting artists, bands and creators with its big numbers to be a part of their newly launched NFT marketplace. Since the announcement of its NFT marketplace, more than 1000 creators have listed approximately 2.5 million NFTs since its launch in June. It provides creators with an open space to explore their creativity. The platform has sold a staggering 1 million mystery boxes, and its trading volume has crossed $360 million.
Partnerships with artists, athletes, news agencies, singers, actors, and award-winning celebrities have enabled Binance to uplift its credibility. Popular personalities are using this platform to interact with their friends through their merchandise, meet and greet events, personalized tokens, passes, and tickets for matches and tournaments.
Access Binance NFT marketplace from Here
The Colexion is claimed to be the largest licensed in the NFT marketplace, where digital artists can buy and sell their art. They are at work creating the world’s largest NFT digital museum where the users can meet celebrities and also know about their life journey. The NFT marketplace also has trump cards in the form of digital tokens. They have a gaming platform where they integrated sports personalities and allow players to own, trade and sell their avatars and other commodities.
Colexion has partnered with various cricketers such as Yuvraj Singh, Glen Maxwell etc. in the form of trading cards. And even musicians like Salim Sulaiman, Aamir Ali also have their own set of NFTs in the Entertainment section.
Access Colexion NFT Marketplace from Here.