With the exponential growth of cryptocurrency, NFT has pervaded through spheres as diverse as sports, art, entertainment, and commerce. The result is its omnipresence on social media and social gatherings alike. bayc

It is worth noting that the record-breaking sales of NFTs like Beeple created a much-needed spur for NFT Marketplace, the Mecca for digital tokens! All thanks to growing interest in crypto art, MarketPlace has boomed on Ethereum.These flourishing MarketPlaces have pulled in capitalists so much so that even traditional auction houses are weighing in. No, wonder crypto enthusiasts are flocking to the market for trading, selling, or buying crypto assets.

So, let's dive in to understand what constitutes the term "NFT MarketPlace.

What is an NFT MarketPlace:
Whenever one mint (creates) an NFT, the first thing they would like to do is to sell them. That's where NFT MarketPlace comes into the picture. An NFT MarketPlace is basically where you can create, store and buy or sell it. It's like an eCommerce website

An NFT MarketPlace brings blockchain technology to artists, musicians and has made it easier for them to create their art and sell it. Blockchain technology is a new concept to many but Marketplaces have made it easier for others to understand it.

How can you use MarketPlace?
Firstly, you need an account on the platform of your choice.

You can use MarketPlace if you have a crypto wallet. That crypto wallet should be compatible with blockchain networks that support the NFTs that you are planning to buy. For example, for the Solana network, you need to use sollet. For the Ethereum Blockchain network, you need a Metamask wallet.

You must have some funds ready in your wallet.

The largest Marketplace:
OpenSea
OpenSea is a New York-based non-fungible token (NFT) marketplace founded in 2017 by Devin Finzer and Alex Atallah.OpenSea stands as one of the most established and the largest marketplaces. One can trade or create artwork, virtual worlds, sports collectibles, trading cards, and censorship-resistant domain names. A recent report suggests that in the month of August, OpenSea saw transactions worth $2billion.According to OpenSea's website, they have 113,000 users, 15.5 million NFTs, and a $354 million in trade volume.

Key features of Opensea:

OpenSea shows lots of items that aren't available for sale.
Even when an item's not put on sale, OpenSea users can still make offers on it.
OpenSea users can earn benefits by referring buyers to listings on OpenSea.
Instead of buying these items immediately, you'll place a bid and wait for the auction to get over.
As far as the fee is concerned, it only charges 2.5% on sales on its platform.
Some of the common NFT marketplaces
Foundation
Although born in the month of February, Foundation is one of the most popular NFT marketplaces for creators. It has the sale of the viral internet meme Nyan Cat, sold for $561,000 and also the record sale of Pak's Finite for $809,789.40 under its name. It's a perfect Marketplace for digital art.The artist receives 10% of the secondary transaction value when an NFT trades on Foundation. Instead of submitting an application, one must be invited by an existing Foundation creator. This marketplace is super easy to operate. Thanks to its simple user interface, one can place bids on timed auctions just like the regular ones.

Rarible
Founded in 2020 by Alex Salnikov and Alexei Falin, Rarible is also built on the Ethereum blockchain Here the gas fees are paid upfront.

One needs RARI tokens for trading here. You can find art as well as other valuable items here. Rarible offers digital artworks, memes as well as virtual land. For a change, sellers can also create more than one NFT for one single image, selling it more than once. The platform uses RARI, their own cryptocurrency. Their token can also be managed at OpenSea. It has a user interface that is similar to OpenSea

SuperRare
This Marketplace has only a few artists on board. The reason is that the artwork would be certified directly by SuperRare's management and not by community voters. Thus, the work needs to be first submitted then approved before it's out on the list.The platform charges 15% marketplace fees and 3% mining fees. Here, a creator receives a 10% royalty as a form of passive revenue if the artwork makes it to secondary sale.

Don Diablo, DΞSTINATION HΞXAGONIA was sold for $1.24 million. Kevin McCoy's Quantum was sold for a massive $1.58 million.

Nifty Gateway
Nifty stands as one of the largest marketplaces for NFTs. This marketplace is a home to works from artists like Beeple (who holds the record for the most expensive NFT sold for $69 million), Steve Aoki and Antoni Tudisco whose hairy was sold for $888,888.88. Here, NFTs are called "Nifties," and they are released every three weeks. This platform tries to make NFTs more accessible to the masses. Although one might have to apply if one wants to mint on the platform. One can even browse collections from both verified and unverified artists.

This platform is home to NFTs by artists like The Weeknd, Grimes and Eminem.

Some niched Marketplace

Valuables (for tokenizing tweets and selling them)
NBA Top Shot (for videos featuring NFT topshots)
Axie Infinity(for hosting cartoon characters for the Axie Infinity Game)
Decentraland (buy and sell virtual land or in-game items such as wearables.
FrontRow (one of the first political Marketplace)