Years from now, 2021 will likely be seen as the year NFTs took off, and it seems like everyone is now scrambling to get a piece of the action.
NFTs, or non-fungible tokens, burst into the public consciousness in March 2021, when digital artist Beeple sold his long-term NFT artwork for $69 million via the world-famous auction house Christie’s.
Once it became clear that nearly anything can be turned into an NFT, artists, musicians and digital creators of all kinds started creating and selling these “digital collectibles” in droves.
But where does one buy NFTs? You buy them on NFT marketplaces, which are sites capable of converting digital files into NFTs, selling them for cryptocurrency, and then sharing the profits with the creators.
Now it feels like every major company and new startup is making plans for their NFT marketplaces aimed at specific tastes or industries.
Coinbase Global Inc., one of the largest exchange platforms for cryptocurrency in the world, just announced plans to create its own NFT marketplace to increase its revenue and offer an improved NFT shopping experience, according to Bloomberg.
Another famed auction house Sotheby’s will soon have its own NFT marketplace called Sotheby’s Metaverse, and because politics follows money, we now have Front Row, an NFT marketplace that converts memorabilia, media and art into “valuable digital assets” to boost support for Democratic organizations, causes and missions.
If that sounds like a lot to take in, you’re not the only person who feels that way. But if you’re still interested in exploring some of the most interesting new options among the best NFT marketplaces, here are a few suggestions:
For Music NFTs: Oneof
While visual artwork has made the more obvious splash in the world of NFTs, musicians have been very keen to take advantage of the industry as well, given the pittance they receive from streaming services.
Enter Oneof, a music-focused NFT marketplace that also works to make and sell NFTs in a way that’s sustainable. One of the biggest issues surrounding NFTs has been the greenhouse gas emissions produced as a byproduct of the heavy-duty computer-processing required for most cryptocurrencies.
Oneof claims to use significantly less energy per NFT than competitors by using Tezos’ proof-of-stake network. It also aims to make the process better for artists and fans in the process.
For Film NFTs: Mogul Productions
Mogul Productions, which launched in February 2021, aims to bring decentralized finance and NFTs to the film industry. They just launched their own NFT marketplace specializing in film-related NFTs by partnering with creators and intellectual property owners from the film and entertainment industries.
According to the press release, the Mogul marketplace model is “community-oriented, where Mogul’s native token holders (STARS) benefit from the success of the NFT drops; they can stake tokens to earn fees generated by the platform.”
For Wine NFTs: WiV Technology
Can fine wines be sold as NFTs? Apparently.
That’s part of the goal of WiV, which offers an NFT marketplace focused on secure transactions for producers, buyers and sellers. Using the Polygon blockchain, WiV can support wine trading at a lower cost and with a new level of security and privacy.
However, WiV wants to expand beyond just wine trading and offer other physical assets as NFTs, also. Users of the marketplace can keep info on the origin and transaction history for each asset, and sell old and new NFTs on their marketplace.
For Fashion NFTs: DressX
DressX launched in 2020 and started as a digital wearable marketplace offering 3D and AR garments. After attracting millions of dollars from investors, it just formed a partnership with Crypto.com this summer to offer limited-edition digital clothing as NFTs.
The company’s co-founder, Natalia Modenova, said that the huge number of people still working remotely could make wearable NFTs just as lucrative as the ones already sold for gamers to use in their preferred digital world.
With DressX, users can “try on” digital garments before purchase. The company has partnered with retail platform FARFETCH so that social media influences and gamers can promote garments from Balenciagoa, Dolce & Gabbana and more.
For Twitch Stream NFTs: Eternal
Mark Cuban and Gary Vaynerchuk are among the latest celebrities to back Eternal, which is the best NFT marketplace for turning pieces of Internet history into sellable NFTs.
Specifically, it’s aimed at popular video clips from game streamers. The platform is aimed at the most popular streamers, who can sell top clips of their gameplay along with videos from their social media accounts. The company also aims to pair off lesser-known streamers with the industry’s biggest names to build a larger network of users that become more invested in gamers by purchasing a slice of gaming history.
The best NFT marketplaces still represent just a few examples of the massive growth we can expect to continue for years to come.
By the time this article is published, many more NFT marketplaces will be launched or announced. For those interested in NFTs, it’s a brave and exciting new world.
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.