Where can you buy and sell NFTs?

Popular NFT marketplaces like OpenSea, Blur, and Magic Eden enable users to buy, sell, and trade digital assets across blockchains such as Ethereum and Solana.

Aug 12, 2025 at 09:42 pm

Popular NFT Marketplaces for Buying and Selling Digital Assets

When exploring where to buy and sell NFTs, the most common starting point is visiting dedicated NFT marketplaces. These platforms serve as digital marketplaces where creators mint and list their NFTs, while collectors and investors browse, bid, or purchase them. Among the most widely used platforms is OpenSea, which operates on the Ethereum blockchain and supports multiple standards like ERC-721 and ERC-1155. OpenSea allows users to buy, sell, and auction NFTs across categories such as art, domain names, virtual worlds, and collectibles. To begin, users must connect a Web3 wallet like MetaMask or Coinbase Wallet to authenticate transactions and manage ownership.

Another major platform is Blur, designed specifically for professional NFT traders. Blur offers advanced trading tools, real-time data analytics, and zero gas fees for certain activities. Its interface prioritizes speed and efficiency, making it ideal for high-volume trading. Rarible is another decentralized marketplace that supports Ethereum, Polygon, and Tezos, enabling users to create (mint) NFTs without needing coding skills. Rarible also features a governance token (RARI) that allows holders to vote on platform upgrades.

Blockchain-Specific Platforms and Their Unique Features

Different blockchains host their own NFT marketplaces, each with unique advantages. For instance, Solana-based NFTs are traded primarily on Magic Eden, which dominates the Solana NFT space. Magic Eden provides low transaction fees and fast confirmation times due to Solana’s high throughput. Users must connect a Solana-compatible wallet such as Phantom or Solflare to interact with the marketplace. The platform supports instant listings, auctions, and even allows creators to launch new NFT collections through its launchpad.

On the Polygon network, Quickswap’s NFT section and OpenSea (with Polygon support) offer eco-friendly alternatives to Ethereum due to lower gas costs. Polygon is an Ethereum Layer 2 solution, so NFTs here are compatible with Ethereum wallets but benefit from reduced fees. For BNB Chain users, Binance NFT Marketplace is a major destination. Operated by the Binance exchange, it supports both beginner and advanced users with options for fixed-price sales, auctions, and mystery box drops. Users can access it directly through their Binance account or link a compatible wallet.

How to Set Up a Wallet for NFT Transactions

Before buying or selling NFTs, setting up a digital wallet is essential. The process varies slightly depending on the blockchain but follows a consistent pattern. For Ethereum-based platforms:

• Download and install a Web3 wallet such as MetaMask
• Create a new wallet and securely store the 12-word recovery phrase
• Switch the network to Ethereum Mainnet (or add Polygon/BNB Chain manually if needed)
• Fund the wallet with ETH or the required cryptocurrency via a centralized exchange
• Visit the NFT marketplace and click “Connect Wallet” to link your account

For Solana:

• Install Phantom Wallet from the official website
• Generate a new wallet and back up the secret recovery phrase
• Switch to the mainnet-beta network
• Purchase SOL tokens and transfer them to your Phantom wallet address
• Connect Phantom to Magic Eden or Tensor by selecting “Connect Wallet” on the site

Always ensure URLs are correct to avoid phishing scams. Never share your recovery phrase with anyone.

Step-by-Step Guide to Buying an NFT

Purchasing an NFT involves several critical steps to ensure a secure transaction. Once your wallet is set up and funded:

• Navigate to the NFT marketplace of your choice (e.g., OpenSea)
• Use the search or browse categories to find the desired NFT
• Click on the NFT listing to view details such as price, owner, blockchain, and traits
• Confirm the listed price is in the correct cryptocurrency (e.g., ETH, SOL, BNB)
• Click “Buy Now” or place a bid if it’s an auction
• Review the transaction details in your wallet, including gas fees
• Approve the transaction in your wallet extension or app
• Wait for blockchain confirmation, which may take seconds to minutes depending on network congestion

After confirmation, the NFT will appear in your wallet’s collectibles tab or within the marketplace’s collection section. Some platforms require manual claiming or transferring to view the asset.

How to Sell Your NFT: Listing and Pricing Strategies

Selling an NFT begins with ensuring it’s in your connected wallet. To list it for sale:

• Go to the marketplace where you want to list (e.g., OpenSea)
• Click “My Collections” or “Profile” and select the NFT you own
• Choose “Sell” or “List for Sale”
• Select the sale type: fixed price, timed auction, or highest bid
• Enter the price in the supported cryptocurrency
• Set the duration of the listing (e.g., 1 day, 3 days, forever)
• Decide whether to accept offers from buyers
• Review all fees, including platform and royalty fees
• Confirm the listing in your wallet

Once listed, the NFT becomes visible to buyers. If someone purchases it, the funds are automatically sent to your wallet, minus any applicable fees. Some platforms allow bundle listings, where multiple NFTs are sold together. Always double-check the blockchain network and wallet address to prevent errors.

Specialized and Niche NFT Marketplaces

Beyond general platforms, niche marketplaces cater to specific interests. Foundation focuses on digital art and requires artist invitations, creating a curated environment. KnownOrigin emphasizes verified artists and sustainable practices on Ethereum. For gaming and metaverse assets, Decentraland’s Marketplace allows users to buy virtual land and wearables using MANA tokens. The Sandbox offers similar virtual real estate and in-game items, with transactions conducted in SAND.

Music lovers can explore Sound.xyz, where artists release limited edition tracks as NFTs. Audius combines streaming with NFT integrations for fan engagement. Collectors of sports memorabilia use NBA Top Shot, which sells officially licensed basketball highlight clips as NFTs on the Flow blockchain. Each platform has its own wallet requirements and onboarding process, so research is crucial before engaging.

Frequently Asked Questions

Can I buy NFTs with a credit card?

Yes, some platforms like Mintable and Nifty Gateway allow credit card purchases. These services handle the cryptocurrency conversion automatically, so users don’t need a wallet initially. However, transferring the NFT to a personal wallet afterward is recommended for full ownership control.

What happens if I lose my wallet seed phrase after buying an NFT?

Losing your seed phrase means losing access to your wallet and all assets inside, including NFTs. There is no recovery option on decentralized platforms. Always store your recovery phrase offline in a secure location, such as a hardware vault or encrypted storage.

Are there fees when selling NFTs on these platforms?

Yes, most platforms charge a transaction fee (e.g., 2.5% on OpenSea) and may deduct gas fees for blockchain validation. Creators often set royalty fees (e.g., 5–10%) that are paid on every secondary sale. These are automatically collected by the marketplace.

Can I sell an NFT purchased on one marketplace on another?

Yes, as long as both marketplaces support the same blockchain. For example, an NFT bought on OpenSea using Ethereum can be sold on LooksRare or X2Y2 without issues. Ensure your wallet is connected to the new platform and the NFT is visible in your collection.