7 Best NFT Marketplaces for 2024: Complete Guide

In this guide, we explore 7 leading NFT marketplaces including OpenSea, Blur, and UniSat, focusing on their offerings across three key blockchains: Ethereum, Solana, and Bitcoin.

Written by: Anatol Antonovici   |  Updated December 14, 2023

Reviewed by: Mike Martin

Fact checked by: Ryan Grace

nft marketplace gallery

In 2024, there are over 100 NFT marketplaces. In this guide, we’ll highlight the seven most popular and liquid platforms for trading non-fungible tokens (NFTs).

Table of Contents

🍒 tasty takeaways

  • While Ethereum (ETH) and Solana (SOL) are the leading blockchains for NFTs, Bitcoin ordinals have recently surged in popularity, momentarily taking the top spot.

  • OpenSea is the largest all-in-one NFT marketplace, but Blur has dethroned it as the largest NFT platform by trading volume, although it focuses on Ethereum NFTs only.

  • Previous leaders, such as Rarible and SuperRare, have lost momentum, while Gemini’s Nifty Gateway is used only for curated NFT art.

  • Magic Eden and Tensor are the largest Solana NFT marketplaces, while UniSat is the go-to platform to trade and store Bitcoin NFTs.

Summary

Marketplace Features
OpenSea Extensive peer-to-peer NFT trading.
Blur Largest NFT marketplace for Ethereum-based NFTs.
Magic Eden Decentralized Solana NFT marketplace with high liquidity.
LooksRare Community-governed Ethereum NFT marketplace with native token rewards.
CryptoPunks Iconic collection of unique NFTs on Ethereum.
UniSat Leading Bitcoin ordinal-oriented NFT marketplace.
Sotheby's Auction house featuring Bitcoin ordinal collections.

What Are NFT Marketplaces?

NFT marketplaces are digital platforms where users can trade NFTs, offering the ability to showcase digital assets and store them in either custodial or non-custodial crypto wallets.

Some NFT marketplaces even provide the option to create NFTs directly within the platform. These platforms often levy transaction fees, contributing to their substantial annual revenue, sometimes reaching tens of millions in USD.

🍒 Non-Fungible Tokens for Beginners: Ultimate NFT Guide

All-in-one NFT Marketplaces

NFTs represent a diverse market, and they vary significantly both in their technical foundation – the underlying blockchain technology – and in their digital representation. 

Some marketplaces host all categories of NFTs, supporting multiple blockchains. These are a great choice for beginners.

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How to Buy NFTs

To buy and sell NFTs, you must first have a self-custody crypto wallet. The tastycrypto wallet connects to dozens of NFT marketplaces through WalletConnect

tastycrypto offers both iOS and Android self-custody wallets – download yours instantly! 👇

#1 OpenSea 

OpenSea is a peer-to-peer (P2P) NFT marketplace that enables the exchange of NFTs between non-custodial wallets. Though OpenSea claims to be decentralized, it does not operate a decentralized governance system. It is one of the oldest NFT trading platforms, and has facilitated a record 65+ million NFT sales to date.

In 2021, amidst the explosion in NFT popularity, OpenSea held nearly 90% market share, but Blur overtook it as the leader in 2023.

Still, OpenSea remains one of the most widely used NFT marketplaces, providing a user-friendly experience and supporting multiple chains, including Ethereum and its layer 2 scaling solutionsPolygon, Arbitrum, Optimism – as well as Solana, Binance’s BNB Chain, Avalanche, Base, and Klaytn.

Source: OpenSea

#2 OKX NFT Marketplace

OKX NFT Marketplace is an OpenSea-like NFT marketplace developed by OKX, currently the fifth-largest cryptocurrency exchange by trading volume.

OKX’s platform supports the same blockchains as OpenSea, but it also lists Bitcoin-based NFTs, which leverage the so-called ordinals.

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As of today, OKX’s decentralized service is the second-largest NFT marketplace by monthly trading volume.

Source: okx.com

Ethereum NFT Marketplaces

The first NFT was minted on Namecoin, but it’s the Ethereum blockchain that has realized the full potential of NFTs by offering a dedicated token standard, ERC-721. 

🍒 Crypto Token Standards Guide: ERC vs BRC vs BEP vs TRC

This has propelled Ethereum as the dominant underlying chain for years, and many NFT marketplaces focus exclusively on Ethereum-based NFTs.

#3 Blur

Blur positions itself as an NFT marketplace aimed at professional NFT traders. Even though it focuses on Ethereum-based NFTs only, it’s still the largest NFT marketplace by trading volume as of today, facilitating over $500 million in sales during the last month alone, according to data from DappRadar. It currently accounts for about 80% of the Ethereum-based NFT market, leaving OpenSea way behind with only 17% market share.

Source: TheBlock.com

Blur has quickly grown in popularity due to its user-friendly interface, low transaction fees, increasing liquidity for NFTs, and generous incentives paid in the native token, BLUR.

Source: blur.io

BLUR Token - BLUR

The native cryptocurrency for Blur is BLUR. 

Solana NFT Marketplaces

While Ethereum has been dominating the NFT ecosystem for years and hosts popular NFTs, including Beeple’s NFT artwork which sold for a record $69 million, other blockchains have also added support for NFTs by developing dedicated token standards.

Solana has attracted many NFT developers due to its efficiency. At the beginning of December 2023, Solana NFTs briefly dethroned Ethereum for the first time, according to data from CryptoSlam.

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#4 Magic Eden

Magic Eden is the go-to decentralized marketplace for Solana-based NFTs. While it has been recently overtaken by Tensor, which accounts for 60% of Solana NFT sales, it still has more unique wallet users.

Magic Eden initially facilitated the trading of Solana NFTs, but it has since added support for Ethereum NFTs and Bitcoin ordinals.

Source: MagicEden

Community-Oriented Decentralized Marketplaces

Every mentioned NFT project, such as OpenSea and Blur, claim to be decentralized platforms facilitating NFT trades between non-custodial wallets. However, many believe these platforms are not truly decentralized.

The trend of absolute decentralization was made popular by
LooksRare, which has been governed by the community and has distributed all revenue back to traders and creators.

#5 LooksRare

LooksRare is a decentralized marketplace for Ethereum NFTs. It rewards its users in its native token, LOOKS. This is one of the first NFT platforms to have a native token for incentives.

LooksRare once competed with OpenSea, but it has lost momentum after rumors of wash trading. LOOKS now trades at $0.09, while it peaked at over $7 in 2022.

Still, LooksRare is the 15th largest NFT marketplace by trading volume, as per DappRadar. Besides facilitating NFT trades, the platform offers several games that reward players.

 

LooksRare Token – LOOKS

Bitcoin Ordinals Marketplaces

The Bitcoin ordinal frenzy is at its peak at the time of writing. Ordinals are not only used for NFT-like assets, but for fungible crypto tokens as well through the so-called BRC-20 standard.

In December 2023, popular auction house Sotheby’s announced the first sale of a Bitcoin Ordinal collection – BitcoinShrooms, a project designed by artist Shroomtoshi.

#6 UniSat

UniSat has quickly grown into one of the largest Bitcoin ordinal-oriented NFT marketplaces, with 30-day volume figures surging 90% to over $45 million.

The platform offers a marketplace dashboard and a proprietary browser wallet to store ordinals. It competes with Ordinals Wallet as the go-to marketplace for Bitcoin-based NFTs.

Source: UniSat

Specialized Marketplaces

Besides general NFT marketplaces that host all kinds of NFTs, including digital art, digital collectibles, metaverse / Web3 assets, and game items, there are specialized markets that offer only a certain collection or type of NFTs.

Some of the most popular specialized NFT markets are CryptoPunks, Axie Marketplace (which displays game items for the video game Axie Infinity), and NBA Top Shots (which displays Flow-based NFTs representing video clips showing basketball shots).

#7 CryptoPunks

CryptoPunks is one of the most popular NFT collections. It consists of 10,000 unique NFTs that combine several elements with different rarity levels. Celebrities and high-net-worth individuals, like Jay Z, Serena Williams, Snoop Dogg, and Mark Cuban, have spent millions to acquire a CryptoPunk. While CryptoPunks are listed on marketplaces like OpenSea, the collection has a dedicated app that is in the top 10 largest NFT marketplaces by trading volume.

Source: CryptoPunks

Comparison of Best NFT Marketplaces

 Here is a quick comparison between the best NFT marketplaces for 2024:

Want to invest in NFT projects? Here are our top 7 NFT Tokens

FAQs

An NFT marketplace is a digital platform where users can buy, sell, and sometimes mint and burn NFTs, featuring dedicated pages for displaying NFTs and managing them through custodial or non-custodial wallets.

Choosing the ideal NFT marketplace largely hinges on the specific types of NFTs you’re interested in trading. OpenSea, known for its extensive support across multiple blockchain platforms and its intuitive interface, continues to be a leading choice for a broad range of NFT transactions. However, certain marketplaces are tailored to excel with specific categories of NFTs, offering more specialized services and features.

Bitcoin ordinals are digital assets that derive from the information inscribed on Bitcoin satoshis. Thanks to ordinals, one can create Bitcoin NFTs with the digital representation being inscribed directly on the Bitcoin protocol, making it censorship-resistant and secure.

There are dedicated apps for Bitcoin ordinals, including Unisat and Ordinals Wallet. Some NFT marketplaces, such as OKX NFT Marketplace and Magic Eden, also support Bitcoin NFTs.

Anatol Antonovici

Anatol Antonovici

6+ years of experience writing for crypto brands and blockchain firms, including Coindesk, Cointelegraph, Bitcoinist, CryptoPotato, Algorand, and OTCTrade.com

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