NFT (Non-fungible tokens) are digital assets that represent internet collectibles like art, music, video games, virtual land, etc. It is financial security consisting of digital data stored in a blockchain.
Blockchain is a new-age technology that is vastly used in digital currency making. A blockchain collects information together in groups, known as blocks, that hold sets of information. It is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
NFTs, unlike cryptocurrencies, are unique. Though various blockchain networks are utilized to create NFTs, Ethereum remains the most popular. Ethereum allows fungible tokens such as ETH, but it differs from blockchains such as Bitcoin in that it also enables non-fungible tokens, which store additional information about the token. The explosive growth of Ethereum has resulted in increasing gas fees.
And isn’t it crazy? You can own virtual land through NFTs. NFT real estate is parcels of virtual land minted on the blockchain.
NFT Land Is Perfect for Investors Who Want to Buy Low & Sell High. Thanks to blockchain technology and cryptocurrency exchanges, one doesn't need millions of dollars to own their pieces of digital property.
NFT marketplaces allow digital collectors to buy, sell and create tokens that represent their ownership. Solana is the fastest blockchain in the world and the fastest-growing ecosystem in crypto, with thousands of projects spanning NFTs, Web3, etc. For NFTs sold on the Solana platform, you will need to use a wallet service such as Sollet.
To access and use these NFT marketplaces, you will need to set up an account in the marketplace you wish to purchase NFTs.
The trading capacity for NFTs reached almost $12 billion during the fourth quarter of the previous year 2021.
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Since blockchain technology uses electrical energy, the average NFT transaction emits about 48 kilograms of Carbon Dioxide.
Just like a fruit vendor needs a shop where he can sell fruits, NFT needs a marketplace if a person wishes to purchase NFTs.
OpenSea sits at the top of the World’s largest NFT Market. Founded in 2017, OpenSea is a decentralized marketplace that allows users to buy and sell non-fungible tokens.
One of the main advantages for creators is that they can mint NFTs for free using Opensea's Polygon-based gas-free marketplace. Opting for the gas-free marketplace means that creators won't have to pay the transaction fees, also known as gas fees, on the Ethereum network.
In one of the biggest events in the NFT world, the right to the first-ever tweet was converted into an NFT, and sold for a record $2.9 million, by Twitter founder Jack Dorsey.
As NFT markets are virtual places. This makes them practically non-traceable. To make any transaction in this market, a person must need digital money. A crypto wallet is a place where a person gets and stores their digital money.
In other words, a cryptocurrency wallet is a device, that stores your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies.
Solana is an effective blockchain supporting builders around the world in creating crypto apps that scale today.
DigitalEyes, Solana's first open NFT marketplace, allows users to create, sell, and purchase Solana's NFT. On Solana, the average cost of minting an NFT is just 0.00001 SOL, as of October 2021.
In June 2021 there were only 2 NFTs on the Solana blockchain. In July, it was 20, and today there are more than 2.5 million NFTs on the Solana blockchain!
There are many Solana NFT marketplaces let’s list out the best and most famous Solana NFT marketplaces
Solanart is a fully-fledged NFT marketplace based on the Solana network that allows anyone to acquire or sell Solana-based NFTs.
A 3% marketplace fee is taken on the selling price of every transaction.
Using Solanart you can get quick and easy access to digital collectibles and explore, buy and sell NFTs.
Solport Marketplace is the leading marketplace for trading Solana NFTs.
Currently, there is no listing fee / refunding fee on Solport. Solport charges a 2% fee for sellers on all successful transactions.
DigitalEyes Market is one of the oldest and best Solana NFT marketplaces. It is super safe and secure to use and is trusted by many people who are in the NFT world.
DigitalEyes has a typical services fee of 2.50% of every successful NFT sale. Two additional fees are applied to the buyer of the NFT that is the royalty fee set by the creator and the service fee.
4. Alpha. art
Alpha art is the revolutionary NFT marketplace currently allowing users to buy/sell Solana-based NFTs without any listing fees.
But, They have a flat 2% seller fee which is taken at the time of the sale.
The first truly decentralized NFT Marketplace on Solana. Among other things, your NFT does not leave your wallet when you list it.
On successful transactions, this marketplace charges a 2% commission on all purchases on Solana. Currently, the Phantom wallet is supported by Artz.ai
Milky Way is Solana's only NFT Marketplace and Aggregator. They have aggregated more than 2 million Solana NFT on their platform.
NFT aggregators consolidate the inventory of multiple NFT marketplaces and platforms into a single unified interface.
This gives buyers the visibility of the market, allowing them to compare prices and also acquire NFTs from various sources in one bulk purchase.
Milky Way changes 0 listing fee, 0 creator fees, and a 2% transaction fee.
7. Exchange. art
Exchange. art is a Solana NFT Marketplace focused on 1/1 art and independent creators.
Exchange. Art doesn’t charge any listing fee. They have a 2.5% fee for every successful transaction. There is no fee for purchasing however you have to pay the Solana Network fee.
You can easily buy NFTs with Solana. All you have to do is buy Solana from crypto exchange platforms. Then you have to transfer your Sol from your exchange to Solana supported wallet. After that, you can visit the Solana NFT marketplace to buy your first Solana NFT.
For many artists and collectors, NFTs represent the future, enabling financial freedom for creativity and opportunities to invest.
NFTs are in fact the future! 💰🪙