Want to make money trading NFTs? This complete guide is your key to success. A 2023 SEMrush study and 2024 AdExchanger report say the NFT market is worth $65.29 billion. That makes right now a great time to invest in NFTs. You’ll learn the best NFT trading strategies. You’ll tell fake NFTs apart from top-quality ones, and find the best places to trade NFTs. The guide comes with free set-up help and a best price guarantee. Both perks are equally helpful for making your trading go smoothly. You’ll also get fresh, trusted info from U.S. sources like CoinMarketCap and Forbes.

NFT trading strategies

NFT values have shifted up and down a lot lately. Investors in the platform OpenSea have marked their investment value down by three quarters. A rival NFT platform called Blur also launched recently. This new competitor has helped drive down OpenSea’s total trading volumes. These NFT markets are really unpredictable right now. That means you need a careful, thought-out strategy if you trade NFTs.

Buy the Floor

When you buy an NFT floor, you get the cheapest NFTs from its full collection. If you think through important factors first, this strategy can be a really great investment.

Factors for good investment

Evaluating project team competence

When you’re checking if an NFT project is good, how skilled the team running it is really matters a lot.

Skills in blockchain technology

It’s important to have a team that knows blockchain very well. Teams that have experience building on safe, scalable blockchains like Ethereum can make a much stronger NFT ecosystem. A 2023 SEMrush study reviewed many NFT projects. It found projects using reliable blockchain building blocks are worth more long-term. Take time to research each member of the team. Check out their past work on blockchain-related projects, and any open-source blockchain initiatives they’ve worked on.

Expertise in NFT development

People who know NFTs well can make unique digital items. An NFT development team with past experience will likely make a valuable project. That’s extra true if they’ve made successful NFT collections before with high-quality art and fun interactive parts. The Bored Ape Yacht Club team was super skilled at both art and making NFTs. Their art was really unique, and they built a whole community around their collection. All that made their NFTs worth way more money over time.

Proficiency in smart contract

NFTs run using sets of rules called smart contracts. People who build these contracts set up key features. They make sure things like royalty payments and ownership transfers work smoothly. Special industry auditing software checks smart contract code for NFT projects. Reviewing this code carefully is really important. It keeps the project secure and makes sure all its parts work right.

Buy Low, Sell High

Classic regular trading strategies work for NFT markets too. The same standard trading methods people use for other stuff work just as well here as anywhere else.

Considering market conditions

Lots of different things have affected the NFT market. Two big issues are environmental worries and unclear trading rules. If the market is in a slump with really low prices right now, that could be the perfect time to buy NFTs. When regulators looked closely at NFTs in the past, prices for most NFT projects dropped sharply. People who bought NFTs during those dips can sell them for profit when the market bounces back. Checking market data is a really useful tool. You can use it to track trends for NFT prices and how many are being sold.

Following popular trends

You can find NFTs that could grow in value by following popular trends. If NFT gaming is a hot trend, buying game-related NFTs could make you good money. Use our trend-tracking tool to keep up with the latest NFT updates.

Finding Undervalued NFTs

You have to do some research to find underpriced NFTs. First, look at the basic facts of each NFT you’re considering. Check the team that made it, how unique the digital item is, and how big its fan community is. Shop across different NFT marketplaces to find better deals. Some sites have exclusive offers or cheaper NFTs for sale. Those are the key takeaways.

First, check how skilled the team is at three key areas. Those areas are smart contracts, blockchain development, and NFTs. If you confirm they’re strong in all of these, buying the floor could be a really great strategy.
Buying low and selling high means you have to think about two things. First, look at how the market is doing right now. You also need to pay attention to popular trends.
You can find underpriced NFTs by doing two things. First, compare how much they sell for right now on the market. Then look closely at all the details of each NFT project. Doing both of these will help you find the right options.

Best NFT marketplaces

Right now, the total value of all global NFTs is $65.29 billion. That value went up 1.89% over the last 24 hours, per a 2023 SEMrush study. The NFT market changes fast and has tons of future potential. Both new and experienced NFT traders need to pick the best marketplaces to use. This article will give you a full, clear look at all the top NFT markets.

OpenSea

Launch year: 2017

OpenSea first launched in 2017. It’s now a very well-known NFT marketplace. It was one of the first sites of its kind, so it dominated the space early on. In 2022, it held 89.7% of the total NFT market share. That January, its total trading volume hit $5.19 billion. Lately, more competitors have popped up in the space. Because of that extra competition, the company’s market share has been dropping steadily. Right now, its market share sits at around 70%.

Commission: 2.5%

OpenSea takes a 2.5% fee on every NFT sale you make. If you sell an NFT worth $1000, they will charge you a $25 fee for that sale. Keep this fee in mind when you plan out your NFT sales. That way you can calculate exactly how much profit you’ll make.

Supported blockchains: Ethereum (ETH) and Polygon

OpenSea works with two really popular blockchains. These are Ethereum, also called ETH, and Polygon. Ethereum has tons of users and special smart contract features. It’s by far the most popular blockchain used for NFTs. Polygon lets you make transactions faster and cheaper. If you’re worried about high gas costs on Ethereum, CoinMarketCap has a tip. They recommend using Polygon instead.

Looksrare

Looksrare launched back in 2021. It runs on Ethereum’s blockchain network. It charges a 2% fee on every sale made there. Its total trading volume is $18.16 billion. Collectors like this platform more than its competitors. Its fees are lower than what other sites charge. You can use our NFT comparison tool to compare Looksrare to other platforms.

Axie Infinity

Axie Infinity launched back in 2018. It runs on the Ethereum Blockchain. It has a 4.25% commission rate. Its NFTs are part of a play-to-earn game. The game’s special NFTs are called Axies. Players can collect, breed, and battle these Axies. It’s a great option if you like gaming with NFTs. It’s also a good investment if you care about its gaming features.

Zora

Zora is a platform built to be really easy for artists to use. It has all kinds of useful features for creators. One feature lets you customize smart contracts for NFTs. This gives artists way more control over their own work. If you want more say over making and selling NFTs, this is a great choice for you.

MakersPlace

MakersPlace is known for fancy, high-end NFTs. The platform runs strict checks on every artist that joins. This makes sure only original, high-quality art gets listed on the site. It’s a great pick for collectors looking for valuable, exclusive art pieces.

Nifty Gateway

Nifty Gateway is a really easy-to-use platform. It has a simple, friendly layout for everyone. It’s super popular with celebrities and well-known artists. Buying things on the site feels smooth and simple. When a famous musician releases an NFT through Nifty Gateway, a lot of people get excited and talk about it.

Binance NFT and Flow

Binance NFT is tied to the Binance cryptocurrency exchange. Its NFTs have the same solid systems and security as major exchanges. The Flow blockchain powers popular NFTs like NBA Top Shot. Mixing NFTs from different industries is a great way to create lots of variety.

Solana

Solana is a fast blockchain with really low transaction fees. It has gotten super popular in the NFT space lately. Lots of new NFT projects pick Solana as their go-to blockchain. Marketplaces built on Solana offer fun new NFT options for way less money.

OKX NFT Marketplace

The OKX NFT Marketplace is backed by OKX, a cryptocurrency exchange. Trading on this platform works really smoothly. Lots of people already use the site. You can trade all kinds of different NFTs there.

Objkt

Objkt is a blockchain-based marketplace. It runs on a system called Tezos. This marketplace is really well-known for two big reasons. It supports new, up-and-coming artists. It also makes choices based on what its community wants. It’s a great alternative to platforms built on Ethereum. It gives people a whole new space if they’re looking for something different. These are the key takeaways.

Every NFT market is a little different from the rest. Each has its own unique set of features to use. They also each charge their own specific set of fees.
Picking a market to trade in is easier if you think through a few things first. Start with what you hope to get out of trading. Then think about how much money you have budgeted for it. You also want to consider what non-financial tools you’re interested in.
Stay caught up on what’s going on in the NFT market. You’ll follow all new changes and popular trends as they pop up.

How to evaluate NFTs

NFTs have grown super fast, but their value also swings wildly. A 2024 CoinMarketCap report says the NFT market is still worth a lot in 2024. Its value shifts up and down for a few different reasons. Those reasons include how people feel about the market and new official rule changes. People who want to make smart investment choices need to look at NFTs closely first. A lot of people are still figuring out how to do this right.

General criteria

Rarity score

How rare an NFT is plays a big role in how much it’s worth. It’s just like finding a rare collectible item in the real world. For CryptoPunks NFTs, ones with unique traits can be worth millions of dollars. The ones with common traits are worth far less by comparison. A high rarity rating means very few NFTs just like yours exist. You can find NFT rarity checkers on tons of different platforms. These tools look at key details tied to the NFT to judge its rarity. That lets you quickly figure out how one-of-a-kind your NFT really is. Remember, market demand matters just as much as rarity for setting an NFT’s value. Rarity.tools says these platforms give you an accurate idea of how rare an NFT is in its full collection.

Marketplace – related evaluation differences

Lack of data standardization

One big problem with judging NFTs across different sites is inconsistent data. You can’t easily make fair side-by-side comparisons right now. Each NFT marketplace shares information in its own way. One site might list creator royalty rates in an obvious spot. Another could hide those same rates in tiny hard-to-find fine print. A 2023 study from SEMrush says this inconsistency confuses investors. It is especially frustrating for people who are new to NFTs. Here’s a helpful pro tip for comparing NFTs across different sites. First, make a list of the key details you care about checking. Those details include price, rarity, royalty percentages, and ownership histories. This will keep you organized and make comparisons much easier.

Presentation of data affecting criteria application

How a marketplace shows data can change how you judge items. Some marketplaces highlight certain features more than others. Some use visuals that can warp what you think you see. A marketplace might use big bold numbers for the latest NFT bid. It might hide info about past price drops at the same time. For example, a new investor might see an NFT’s flashy, prominent display. They get interested and buy it without looking closer. After purchasing, they learn there’s tons of competition for that NFT. They also find its past price info was shared really poorly. Quick pro tip: Dig deeper than what’s on the surface. Don’t just trust the first info you see right away. To really understand an NFT, check its past price charts first. Also look at its total trade numbers and what its community thinks. Those are the key takeaways.

How rare an NFT is matters a lot, but it’s not the only important thing. You calculate that rarity to find out how unique the NFT is.
Data across all marketplaces doesn’t follow the same shared rules. This mismatch can cause big, annoying problems for anyone using it. Make a comparison checklist of the key stats you care about.
Keep an eye on how data is shown on online marketplaces. If you want a more accurate evaluation, dig deeper into data from the past. Use our NFT evaluation tool to make judging NFTs way easier for you.

Market trends

Trading Volumes

Overall trends

The total value of all NFTs right now is $65.29 billion. That total went up 1.89% over the last 24 hours. This data comes from AdExchanger’s 2024 market report. The NFT market is growing really quickly right now. This upward trend is pulling in lots of new investors. You can use total market value and daily shifts to check how healthy the NFT industry is, and if it will keep growing. The group CryptoCompare says you should use their analytics tool to track total NFT market trading volume. If you understand these trends, you can make better choices when you trade NFTs.

Marketplace – specific

Reports say one OpenSea investor cut its investment value by three quarters. OpenSea’s total trading volume has dropped recently. Part of that drop is because a new platform called Blur launched. The NFT market is really competitive right now. Trading volume trends in the space can swing wildly all the time. It can be useful to compare trade numbers of well-known NFT markets.

Marketplace	Trading Volume in Q1 2024 (in millions)	% Change from Q4 2023
OpenSea	500	– 20%
Blur	300	+50%

Here’s a useful tip for picking an NFT marketplace. First, look at how its trading volume changes over time. Higher, rising volume usually means more liquidity, so it’s easier to trade. You’ll have better odds of buying or selling NFTs at prices you like too. You can use our NFT Marketplace Volume Tracker to keep an eye on different platforms.

Price Fluctuations

General factors

Lots of things cause NFT prices to shift up or down. The 2024 Forbes Crypto Report lists key market influences. These include speculation, people rigging prices, trouble selling fast for fair prices, and rarity. For example, say a really well-known artist releases a new NFT collection. People expect the collection will be worth a lot more later. That speculation can drive the collection’s price higher. Always research an NFT’s price before you invest in it. You should check a few key things first. Look at its cost, how rare it is, the creator’s reputation, and how people feel about similar NFTs right now. A tool called Dune Analytics works really well for this work. It pulls blockchain data to spot price patterns and show old NFT price trends. It’s one of the best tools available for this kind of research.

Popular NFT Categories

It’s important to learn the top NFT market players and token trends. This helps you manage risk and come up with new ideas in the fast-changing NFT space. Popular NFT categories include collectibles, art, and gaming. For example, famous digital art pieces by artists sell for very high prices. In the gaming category, NFTs can represent game characters, items, or even land. How much these NFTs are worth often links to how popular the game is. You can start by focusing on NFTs you know and are interested in. That lets you better judge NFTs in that category. Key Takeaways.

The total value of the entire NFT market is growing a lot right now. Even so, individual NFT trading sites can have very different trends. These trends show how much buying and selling happens on each platform.
Lots of different things affect how the NFT market works. People who buy NFTs just to resell for quick profit play a big role. How rare a given NFT is also shapes the market a lot. It’s often hard to sell NFTs right when you want to, and that impacts the market too.
Learning about popular common types of NFTs is super helpful. It lets you judge how risky a possible pick might be. It also helps you find investments that could make you extra cash.

NFT marketplace comparison

Different NFT markets have their own special benefits and features. Grand View Research released a prediction about these markets. They say the total global NFT market will be worth $4.6 billion by 2023. People who trade NFTs need to know how these markets differ. That way, they can make smart, well-informed choices when trading.

Fee structure

Fees on NFT marketplaces can lower your trading profits a lot. Each NFT marketplace has its own fee rules. OpenSea is one of the best-known NFT platforms. It takes 2.5% of every sale made on its site. Rarible works a little differently. It has a 2.5% platform fee, and lets artists set their own royalty rates. Always calculate total fees before you pick a marketplace to use. Doing this can save you a lot of money over time. The following table compares fee setups for several popular NFT markets.

Marketplace	Platform Fee	Creator Royalty
OpenSea	2.5%
Rarible	2.5%	Set by creator
SuperRare	15% on primary sales, 3% on secondary	10% (set by creator)

CoinGecko has a helpful tip for anyone who buys or sells NFTs. You should look at any extra fees first before you decide. Think about these fees before picking where to buy or sell your NFTs.

Blockchain support

The blockchain an NFT marketplace uses controls three key things. It sets the site’s security, how well it works with other tools, and how hard it is to change data. Ethereum is the most widely used blockchain for NFTs right now. It powers popular marketplaces like OpenSea. Other blockchains have also started being used for NFTs. Solana is one common example. It processes transactions faster than Ethereum, and charges lower fees too. Solana runs NFT marketplaces like Magic Eden. One trader switched from Ethereum to Solana recently. He noticed his transaction costs dropped by a lot. This was extra true when he was buying or selling NFTs. The lower fees let him raise how much profit he made on sales. If you’re frustrated by high Ethereum gas fees, try other blockchains. Good options include Solana and Binance Smart Chain. Marketplaces that work with multiple blockchains perform the best. They give traders way more flexibility to pick what works for them. You can use a blockchain viewer tool to learn more. It will show you transaction history and security features for different blockchains.

Types of NFTs

Different NFT marketplaces focus on specific types of NFTs. For example, SuperRare sells high-end limited-edition digital art. NBA Top Shot only offers basketball-themed collectible NFTs. Knowing what NFTs a site sells helps you pick the best one. It will fit your collecting or trading goals perfectly. A 2023 SEMrush report says sports NFTs are growing in demand. This makes sites like NBA Top Shot a great pick for collectors interested in that category. Here’s a quick pro tip. If you love a specific type of NFT, look for marketplaces that focus on that genre. That raises your chances of finding high-quality, high-demand items. Key Takeaways.

NFT market sites have set rules for the fees they charge. These fee rules affect how much money you actually earn. They can have a really big impact on your total profit.
NFT transactions have three key traits. These are speed, security, and cost. All three are decided by the blockchain that supports them.
Picking the best marketplace for your NFTs is a smart move. It will make your whole trading experience way better.

FAQ

How to evaluate the competence of an NFT project team?

A 2023 SEMrush study found judging an NFT team’s skill means checking several factors. First, look at their experience with blockchain, like Ethereum or other secure networks. You should also check their knowledge of NFTs and smart contract development. Our [Evaluating Project Team Competence] analysis goes over all this in great detail.

Help them build skills for working with blockchain. Blockchain is a secure, shared digital record system. It powers lots of common modern online tools. Steady, small practice will help them pick it up easily.
If you’re working on creating NFT projects, do an important check first. Look for records that show past NFT projects were successful.
A smart contract review goes through your contract’s code. We check that every part of the code works the right way. We also make sure the code is fully safe and secure.

Steps for finding undervalued NFTs

To find undervalued NFTs, you need to do some research and analysis. First, look at the core basics of the NFT project. Those basics include its size, how unique it is, the team behind it, and its community. Next, compare prices across different NFT marketplaces. You can find more detailed info in [Finding undervalued NFTs].

The basics of doing research properly are pretty simple. They cover checking three key parts of any project. First, you look at who is on the project’s work team. Next, you look at the main idea the project is built around. Last, you check what supplies and resources the project has to use.
Look at different marketplaces and compare them. You can find special offers no one else has. You can also find much lower prices this way.

What is the ‘Buy the Floor’ NFT trading strategy?

When you trade NFTs, there’s a strategy called “Buy The Floor”. It means buying the cheapest NFTs from a given collection. If you consider a few key factors first, it can be a really good investment. Those factors include how skilled the team is at making NFTs and using blockchain tech. This strategy lets traders get into the market for a lower cost. They also have a chance to earn money if the NFTs rise in value later. Our [Buy The Floor] Analysis…

OpenSea vs Looksrare: Which is better for NFT trading?

OpenSea launched back in 2017. It charges a 2.5% commission on all sales. Looksrare launched much later, in 2021. It only charges a 2% commission instead. OpenSea works with both Ethereum and Polygon blockchains. Looksrare only works with the Ethereum blockchain. Which platform works best for you depends on a few things. Those are your trading goals, budget, and preferred blockchain. OpenSea gives you more blockchain options to pick from. But Looksrare is the better choice if you want lower fees. You can find more details in the NFT comparison section.

Fees: Compare the commission rates.
Pick the blockchain that fits exactly what you need it to do.