Before pulling the trigger, an artist has to make two extremely important decisions.
- What blockchain does he or she want to use?
- Which NFT marketplace does she or he want to sell the NFT on?
The selection is crucial and there are no easy answers.
For example, Ethereum is the most popular blockchain for NFTs, but its extreme gas fees (cost for minting) might scare potential buyers.
On the other hand, Tezos has a dedicated and supportive artist community behind it, but clients might not be familiar with that blockchain.The largest blockchain for NFTs are Ethereum and Binance Smart Chain.
The famous NFT collections all live on Ethereum, but this is changing.
As other chains unleash their NFT-capabilities, new blue-chip collections appear on the scene. To create and collect NFTs you need a wallet that supports NFT-holding. Each blockchain offers several wallets with these capabilities.
Each blockchain also hosts several marketplaces, each with its own characteristics, pros, and cons. OpenSea is the most famous and popular. It’s a multi-chain marketplace that works with Ethereum, Polygon, Klatyn, and Solana.
For convenience, we’ll use OpenSea for our example.