A non-fungible token (NFT) is a one-of-a-kind digital ledger data unit that can only be acquired and owned by one person or entity. Digital data such as art, photographs, videos, movies,  music, etc. can be represented as NFTs. NFTs also use blockchain technology to create verifiable and public proof of ownership to secure the replication of  items and retain the uniqueness of digital assets.

How it all started - NFT Marketplace for Art

NFTs have been around for a long time, but they didn't gain popularity until 2021. The NFT market has garnered a lot of attention as a result of record-breaking purchases, such as Christie's $69 million auction of a Beeple painting, and I expect it to continue to grow as the digital art scene gains traction.

Choosing a marketplace vs. having your Art curated in a gallery is a little different. Some platforms specialize in particular mediums, like music or photography, while others are more general. Some platforms are exclusive and require artists to apply, while others are open to the public.

Here are the top 7 Digital Art NFT marketplaces based on various factors:

1. OpenSea 

The OpenSea marketplace is the first and largest peer-to-peer NFT marketplace globally. NFT games, music, and other works of Art can be found on OpenSea. Intriguingly, ERC-1155 and ERC-721 tokens are supported on the OpenSea platform.

Every time a consumer purchases one of their products on OpenSea, the creators of NFT on OpenSea receive royalties. Rarible and Mintable, two more NFT marketplaces, are also available for users to add items from.

2. SuperRare

SuperRare, apart from being an artist-friendly platform, also facilitates good return on investment (ROI) for investors. Do you wonder - what made me say this? The real-world incident involved a 15-year-old churning out a considerable amount of money on selling his artwork (in SuperRare). 

Each piece of art on SuperRare is a digital collectible, a digital object that is encrypted and monitored on the blockchain. On top of the marketplace, SuperRare has constructed a social network. Digital collectibles are ideal for a social setting since they have a clear record of ownership.

3. Rarible

It is another NFT marketplace for Art, which showcases various rare-art digital works and collectible items. You can buy and sell any type of artwork exhibited on the marketplace, just like you do on OpenSea. Sellers can also make multiple NFTs for the same piece of artwork and sell it multiple times. Rarible's UI is straightforward and simple to use for newcomers to the NFT marketplace. Users who have tried to transact on a similar NFT platform like OpenSea will find it simple to learn.

4. Bakeryswap

BakerySwap is a smaller NFT exchange than OpenSea, which is understandable given that most NFT exchanges are based on Ethereum. The digital platform, on the other hand, was one of the first to open on the Binance Smart Chain (formerly known as the Binance Blockchain).

The BakerySwap NFT marketplace is simple to use and requires only a MetaMask wallet connection to sign up. You can only buy NFT assets with BNB because this platform runs on the Binance Smart Chain rather than Ethereum.

5. Nifty Gateway

It is a centralized marketplace, where a central authority controls every sale, minting, and other activities. Every time an artist's work is sold on Nifty Gateway, they receive a portion of the revenue. Only NFT marketplaces offer this feature, which is a big selling factor for many artists. Each artist can set their own royalty share through Nifty Gateway.

6. KnownOrigin

For NFT lovers, KnownOrigin, like its sister business SuperRare, promises a more curated, gallery-like experience. The site is known for exhibiting only genuine and one-of-a-kind artworks. It saves all of its NFT artwork on IPFS, which gives the underlying materials some protection.

7. Portion

Portion is an online marketplace that uses Blockchain technology to link artists and collectors so they can effortlessly sell, invest in, and own art and collectibles while maintaining complete transparency. It features the Artist Community, a decentralized global network of artists and innovators.