pattersonbeckwith.com Over the past two years, the NFT industry has reached enormous proportions. Hundreds of thousands of dollars for one token no longer seem to be something unfeasible. The trading volume of well-known collections on a variety of platforms has already reached more than a hundred million dollars, and the most expensive collections – more than two billion.
Today we will consider one of the most expensive and famous collections – nft monkeys on the Ethereum blockchain. Bored Ape Yacht Club, released with a set of 10,000 images and 172 rarity attributes (the lower the value, the higher the rarity and, as a result, the cost). This number of attributes made it possible to generate tokens with unique characteristics for each image.
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? On which marketplace is it better to buy the coveted token? We tell in the article.
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 has 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 people. 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 a number of advantages, thanks to which it has become the most popular one. 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 a number of advantages over other projects of the same algorithm :
- Informative launchpad interface with many projects that can be tracked on the site
Verification of downloadable collections - Large list of supported wallets
- A separate category of Eden Games, which contains a huge 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 authoritative crypto exchange Binance. Since the marketplace itself is tied to the ecosystem of the exchange, there are characteristic advantages and disadvantages from this:
- Guaranteed security of transactions due to belonging to the exchange
- Low exchange commission
- Binance mobile app for Android and iOS with all the functionality of the site
- Mystery box – a box with a random token from the collection
The key feature of this platform is the aforementioned attachment to the exchange, so be prepared for more transaction processing time.