4 CRYPTOCURRENCY MARKETS
In this article we are going to talk about 4 cryptocurrency markets, their characteristics, and distinctive features. But before we start, we should remember some concepts.
As we saw in our article on NFT’s, cryptocurrencies are part of a new digital trend where they are used as a means of payment through blockchain technology.
We must remember that blockchain is a new technology that works through a chain of blocks that record transactions. If they wanted to corrupt a blockchain system, they would have to change all the blocks in the chain. This makes this new system a guarantee of transparency.
Today there are NFT’s that are sold through marketplaces with the use of different cryptocurrencies.
These marketplaces are focused on different functions from the purchase of collectibles to the development of projects or support for emerging artists.
We list 5 marketplaces for buying and selling NFT’s as well as their focus and the type of cryptocurrencies they use
Open Sea would be the equivalent to the «Amazon» of marketplaces for NFT’s offering around 150 cryptocurrencies.
This is one of the oldest and most used due to the wide offer. In Open Sea you will find from art, music, photography, and collectibles.
NFT’s: art, music, photography, collectibles, sports, virtual worlds and more.
Blockchain: Ethereum, Polygon, Klatyn.
Nifty Gateway is the best choice when it comes to long-digit purchases.
This Marketplace is a great selling point for higher value NFT’s. The best example of this was the sale of Pak’s The Merge valued at $91.8 million in December 2021.
Among its features is the use of «open editions,» where an unlimited number of editions are created for a limited time and sold at a base price. Once sold, they are not repeated. This creates an interesting secondary market.
Likewise, Nifty allows collectors to make purchases not only with cryptocurrencies but with traditional credit cards.
NFT’s: digital art, verified and curated drops.
Blockchain: Ethereum, backed by Gemini
A marketplace that promotes a collaborative and decentralized vision by using its own token and making users participants in the platform updates.
Rarible is designed for individual pieces and collections focused on sports, video games, media companies and artists.
In its trajectory it has collaborated with major companies such as Adobe to secure the work of artists and create unique pieces.
The platform also allows you to use 3 different tokens and select which one you want to use in the purchase of your NFT.
NFT’s: art, games, photography.
Blockchain: Ethereum, Flow and Trezos
Foundation started as a private artists club that you could only access if you received one of their exclusive invitations.
However, after being on the market for a year, today it opens its doors to anyone, although it is still exclusive in nature since to enter you still have to be invited by an artist who is inside Foundation.
NFT’s sales in this marketplace give the artist 85% of the value of the piece and 10% in secondary sales. This is lower than other marketplaces, however, Foundation’s prices tend to be higher than average and with a higher artistic authenticity, so they maintain their value.
NFT’s: art, fine art, digital art, 3D art, photography.
Blockchain: Ethereum
Platform focused on bringing a gallery feel to NFT’s.
This platform prioritizes artistic credibility over the rest. They have an important filter to delimit the art profile that is allowed, it is estimated that only 1% of the artists that apply are accepted.
Here you will find exclusive, differentiated, and curated art, a fantastic editorial blog and a gallery-like look and feel.
This approach makes SuperRare a high-end gallery allowing artists to upload only originals making it a marketplace for serious artists and works.
More information
There are many other marketplaces we could talk about and each one has its own characteristics and particularities from Async Art, leader in programmable art, Bakery Swap and its gamified approach, or Zora, focused on supporting artists and creators.
What is clear to us is that the NFT’s and cryptocurrencies market is here to stay.
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