A classic motto in marketing and sales is that “good distribution is just as vital as a good product”. In other words, a good product needs a solid distribution channel to sell.
This means that no matter how good your NFT project or roadmap is, its success is partly determined by how it’s marketed and sold.
Mobilizing a team and constructing an NFT project from the ground up can be a monumental undertaking, but what most founders and creators overlook is where to sell NFT art.
Choosing the right NFT marketplace can be difficult because so many elements influence it. Some elements might be the demographics of the project’s audience, the type of blockchain that’ll be hosting it, the certain features the marketplace needs, the popularity of the platform, and how much money the creators have.
Another reason for this stumbling block is that creators are given a plethora of options, making it easier to lose sight of the best marketplace for their project.
When making a decision, we must consider the trading volume of the individual marketplace, the number of visitors, listing and commission fees, security measures, etc.
Even though this is a difficult step in any NFT project, if it’s done correctly, the project can reach the right audience.
To help creators to choose the ideal marketplace for their NFT project, this article provides an analysis of the top 15 NFT marketplaces and what they bring to the table.
How Far Has the NFT Industry Progressed?
NFTs are an excellent way to enforce ownership and security of art; something that the physical industry has been battling for millions of years.
If you want to sell an art piece, you can now make it into a token. This means that any information about the art piece will be stored on a distributed ledger, like the blockchain.
In 2020, the NFT industry generated 94.9 million USD in revenue. But in 2021, that number skyrocketed. The total sales of the NFT market reached a whopping 25 billion USD. This momentum and popularity
promised to generate one of the highest amounts of wealth in history.
We witnessed people earning more in a few hours than they had in their whole lives. And, once again, we noticed a surge in traffic to NFT marketplaces, as the term ‘NFT’ rose in Google search metrics.
NFT marketplaces are the foundation of these mind-boggling figures. This demonstrates the unparalleled significance of using the proper marketplace for your project.
What Are NFT Marketplaces?
A wonderful way to get your art in front of the world is through NFT marketplaces.
You might think of these marketplaces as malls where you can rent space to sell your wares and pay a portion of your sales to the mall.
The commission fee isn’t set in stone and varies widely depending on the platform.
So, it’s critical to grasp what these markets are all about and choose the ideal one for your project.
An example of an NFT marketplace is OpenSea, the world’s biggest NFT platform. OpenSea saw a trading volume of 5…
Read More: web3.hashnode.com