NFT marketplaces are resourceful applications within the blockchain-based economy.
They are digital platforms where creators buy, sell, and trade unique digital assets, verified by blockchain technology.
These platforms provide a space for artists, collectors, and investors to engage with digital art, music, collectibles, and more.
In this article, let us take a brief look at what NFT marketplaces are and how they work.
NFT Marketplaces: What are they?
NFT marketplaces are digital platforms that provide you with the opportunity to buy and sell NFTs.
These trading platforms allow stakeholders of the industry to display and store their digital collections as well as sell them to others for fiat currency or cryptocurrencies.
While most NFT platforms are just marketplaces for buying and selling, others allow the minting of tokens.
To understand NFT marketplaces, consider eBay, Walmart, and Amazon among other e-commerce platforms that allow millions of people to buy and sell goods and services.
Since you are still new to this space, this NFT beginners guide would like to alert you that NFT marketplaces and cryptocurrency exchanges are not the same.
Cryptocurrency exchanges enable users to buy, sell, and store digital assets like Bitcoin (BTC), Ripple (XRP), and Cardano (ADA), while NFT platforms facilitate the purchase of digital art.
Some of the most popular NFT marketplaces are OpenSea, Rarible, Magic Eden, Nifty Gateway, X2Y2, Foundation, SuperRare, and Mintable.
NFT Global Sales Volume Surpasses $70 Billion
OpenSea one of the best NFT Marketplaces
OpenSea was created on 20 Dec. 2017. OpenSea is one of the pioneer marketplaces. As of May 2025, OpenSea was among the largest NFT marketplaces in terms of trading volume.
It reached a peak of $4.98 billion in monthly volume in January 2022. Its volume comes from an array of NFTs, which includes collectibles from sports, virtual worlds in the Metaverse, utilities, music, photography, domain names, digital artworks, and others.
Some of the biggest NFT projects, such as BAYC, Bored Ape Kennel Club (BAKC), Bored Ape Chemistry Club (BACE), CryptoPunks, CryptoKitties, Mutant Ape Yacht Club (MAYC), Otherdeed for Otherside, and VeeFriends, can be found on OpenSea.
As of publication, OpenSea had recorded a trading volume of approximately $573 million.
PSG Football Club Fan Token Nearing $20 Billion in All-Time Sales Volume Thanks to UCL Performances
X2Y2 one of the thriving NFT Marketplaces
X2Y2 was launched in February 2022. Compared to OpenSea, X2Y2 stands out as one of the newest marketplaces in the NFT sector.
In less than 12 months, X2Y2 used promotional activities such as airdrops to boost its consumer base.
Crypto projects utilize airdrops as a marketing strategy to boost awareness, attracting attention and engagement from potential users and investors.
X2Y2 distributes cryptocurrencies for free to community members familiar with the project or to unrelated parties.
The marketing strategy yielded excellent results.
In just four months of being in existence, X2Y2 reached a peak of approximately $730 million in monthly volume in May 2022.
Like OpenSea, X2Y2 supports BAYC, Otherdeed, MAYC, and other projects. You can also find Art Blocks, Azuki, KILLABEARS, Art Blocks V1, 1337 skulls, and Dreamy Official on the digital collections marketplace.
As of publication, X2Y2’s total volume for 2025 was approximately $11 million.
Rarible NFT Marketplace
Rarible was founded in 2020, the year of the pandemic. This system operates in a highly decentralized manner, embodying key features of decentralization. Community members manage RARI, the unique token within the Rarible ecosystem.
Some of the NFTs found on the platform include Metaverse , in-game content, domains and music.
Rarible also sees millions of dollars in monthly volume. It supports most of the projects on X2Y2 and OpenSea.
In addition to the previously mentioned collections, Rarible features Memes by 6529, Dreamy, Genuine Undead, PROOF Collective, PudgyPenguins, and Moonbirds.
Bank of Ghana Cryptocurrency Regulation Benefits to Ghana’s Economy in 2025 and Beyond
Nifty Gateway NFT Marketplace
Nifty Gateway was created in 2018, and it is a virtual art online auction platform created specifically for non-fungible token art.
This marketplace has generated a minimum of $1 million in sales since July 2020. The platform reached a peak of NFT sales in March 2021 during the NFT mania when it saw around $119 million in liquidity.
Nifty Gateway showcases a diverse range of NFT projects, including Mars, m, MAX PAIN, PAINT, A Cube, Doodles, Karma Chameleon, Genesis001, Afterburn, MAYC, Fusion, and Extrusion, offering unique digital art and collectibles.
Solana NFT Sales Surpass $6 Billion: Is SOL A Game-Changer for Digital Collectibles?
Magic Eden NFT Marketplace
Magic Eden was founded in 2021. We created this platform to compete with other NFT marketplaces and eventually establish it as the central hub for digital collections on the Solana blockchain.
Despite the creation of several projects on Solana, Magic Eden remains the most popular marketplace for buying and selling NFTs on the blockchain.
As one of the go-to platforms for several collectors, Magic Eden recorded more than $6 million in volume throughout November 2022.
The volume came from over 260,000 active wallets involved in more than 900,000 transactions.
This figure increased significantly over the years due to the announcement of Magic Eden’s support for NFT trading on the Polygon Network in November 2022.
As a layer 2 scaling network, Polygon processes more transactions per second (TPS). This has greatly enhanced the volume of monthly transactions that Magic Eden experiences.
Some of the most popular collections you can find on the platform include y00ts, DeGods, Claynosaurz, Solana Monkey Business, Okay Bears, ABC, Famous Fox Federation, Art Blocks, MAYC, BAYC, and CryptoPunks.
Crypto Jobs Boom: How Ghana’s 2025 Regulations Opens Doors for Youth Employment
SuperRare NFT Marketplace
SuperRare was launched in 2018. This makes it one of the oldest online shopping centres in NFT.
Unlike other marketplaces, SuperRare supports single-edition NFTs from some of the top artists across the globe.
Some of the top-selling artists on the platform go by the names Rarepass, Gregory Crewdson, Cachou, Jacob, Sutu, and Pascal Boyart. SuperRare records a decent monthly volume.
Foundation trading platform
Foundation began operations in 2020. It uses a different approach to exposing NFTs to millions of people. Through an AUCTION, Foundation allows users to buy and sell digital art.
Once the creator or seller places the minimum bid, the auction normally expires after 24 hours.
Foundation continues to see above-average monthly volume.
Some of the top collections include Mute the Silence, PASSION, Slap Soil, SuperRare, Natura Mota, Crops Glued, and FESTIVE SEASON.
VIRTUAL Protocol Crypto: You Missed the 44,000% Gains; Don’t Miss the Upcoming Opportunities
LooksRare
LooksRare established its foundation in 2022. It thrives on decentralisation and puts stakeholders in its community first (creators and collectors). This is why it tags itself as a platform created by NFT people for NFT people.
LooksRare also rewards users with LOOKS, the novel token of LooksRare’s ecosystem, when they buy and sell NFTs using its marketplace. Creators do not have to wait for a given period before they can have access to their royalties.
Creators on LooksRare receive payments instantly upon sale completion, securing prompt access to their funds.
Since its inception in January 2022, LooksRare has generated approximately $27 billion in total volume.
LooksRare features top NFT collections including Mineable Punks, Otherdeed, MAYC, BAKC, CLONE X–X TAKASHI MURAKAMI, Doodles, and World of Women, showcasing prominent digital art and collectibles.
DEGEN TOONZ, YOLO Bunny, Chimpers, Indivisible Friends, Meebits, Quirkies, My Pet Hooligan, Invisible, FLUF, VeeFriends, and YOLO Bunny are among its other collections.
As of publication, LooksRare had recorded about $1.1 million in volume throughout 2025.
Bitcoin NFT Sales Surpass Ronin, Now 3rd Largest Chain by All-Time Volume
KnownOrigin
KnownOrigin was launched on 15 April 2018. Unlike other NFT marketplaces that are open to all kinds of creators, Known Origin has tailored its innovative technology to artists.
As an artist-driven platform, this NFT marketplace makes it easy for creators to authenticate as well as showcase their digital art and sell it off for profit.
KnownOrigin was acquired by eBay in June 2022 as part of eBay’s NFT expansion. This came after the company announced in 2021 that it will allow users to sell digital art on their platform.
Some of the top artists on the platform go by names like Alex Shell, Alexis Olin, Athena Novo, Kozachok, and LUCHO.
Top NFTs on the platform are Confusion, In a Lonely Place, Lion of Judah, and Samsara.
ApeCoin Crypto: Top 10 Reasons Why You Should Invest in APE in 2025 and Beyond
Mintable has been one of the main NFT marketplaces
Mintable was created in 2018. This is an Ethereum-based NFT marketplace, enables users to easily create, buy, and sell diverse digital collectibles.
Mintable showcases NFTs inspired by diverse themes, including art, music, sports, utility, and videos, highlighting the versatility of digital creations. While Mintable is not among the biggest NFT marketplaces, it can be a fantastic platform for emerging artists.
Some of the top collections you can find on Mintable include Dreadfulz, BAYC, Gods Unchained, Osaki Lady, and Daily Cargo.
Beyond the top 10 NFT marketplaces, numerous niche-specific platforms cater to unique digital art and collectible needs.
Prominent examples include Axie Infinity, NBA Top Shot, and Decentraland, showcasing innovative NFT experiences.
15 Comments
Good article that shed light on some of the most popular NFT marketplaces.
NFT marketplaces are democratising art and collectibles. Love seeing new creators emerge.
Some marketplaces have too many fake or low-quality NFTs. Curation is essential.
Would love to see more marketplaces support multiple blockchains. Interoperability is key.
NFTs aren’t just for art. Gaming and music NFTs are gaining traction too.
How do NFT marketplaces handle copyright and intellectual property issues?
Been following NFT marketplaces for a while. Exciting to see innovation in this space.
Fees can add up quickly. With some platforms would lower their transaction costs.
What’s the difference between OpenSea and Rarible? Anyone know?
Magic Eden’s curated approach is awesome. Quality over quantity, that’s the way to go.
Security’s a top concern for me. How do these platforms ensure NFT ownership and authenticity?
Rarible’s user-friendly interface is a game-changer. More platforms should follow suit.
Just started exploring NFTs. This article’s a great starting point. Thanks for breaking it down.
Great explanation! NFT marketplaces are making it easier for creators to monetize their work.
Love learning about NFT marketplaces. Been using OpenSea for a while and its nice to know of other trading platforms.