13 Best and Reliable NFT Marketplaces in 2022

The conversation around Non-fungible Tokens (NFTs) has reached a fervent pitch following the sheer number of high-profile sales in the last few months. From Beeple’s record-breaking art sale at Christie’s for $69 million, to Jack Dorsey selling his tweet as an NFT for $2 million, the NFT marketplace is booming. With a total sales volume hitting over $1.2 billion, the industry is ripe for the picking.

What Is a Non-Fungible Token (NFT)?

You may be scratching your head over what a non-fungible token means, but don’t panic. It’s a pretty easy concept to wrap your head around.

Non-fungible means unique, a one-of-a-kind asset that cannot be replaced — unlike fungible items, which can easily be exchanged, like fiat currency or cryptocurrencies such as Bitcoin. In crypto, nonfungible tokens are units of data that are stored on the blockchain. This certifies them as unique and not interchangeable.

NFTs can represent a wide range of art, music, photos and even real estate. At the moment, a wide range of NFTs is built around the Ethereum network, utilizing either ERC-721 or ERC-1155. Apart from the fact that  no two NFTs are the same, NFTs also possess noninteroperability.