Getting started with how to pick the best NFT cryptocurrency for your art can be challenging.
When it comes to the world of NFTs, it can feel like reason and logic are thrown out the window. But when it comes to choosing the best NFT crypto currency, it all comes down to the type of art you plan on making and the NFT platforms you’re interested in.
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Figuring out how to make crypto art and the best NFT marketplace is pretty much all you have to worry about when starting out. Why?
Although NFT coin price and the latest NFT trends are quite important, picking your marketplace and NFT cryptocurrency is as well. Your NFT marketplace and cryptocurrency can determine your potential market (see our NFT marketing guide) and the NFT communities you’ll have exposure to.
What is an NFT?
An NFT or Non-Fungible Token is essentially a digital asset that is unique and irreplaceable. In the case of gold or even a crypto token, these assets can be replaced and reprinted. However, in the case of NFTs, they’re created with the help of smart contracts, for the most part on the Ethereum blockchain.
The NFTs are created with additional information that reinforces their authenticity. The NFT blockchain ensures that they are one of a kind when they undergo ‘minting’ (which is how they’re created).
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An NFT can be anything from an audio file, video GIF, or even PNG. In this article, we’ll cover the best cryptocurrency for NFT artwork, but an NFT can even be a screenshot of a tweet.
Regardless of what shape or form, what’s important to keep in mind in an NFT is that it needs to be one of a kind and created through a process called ‘minting’. Also, depending on what kind of NFT you’re dealing with, you’ll have to work with a relevant marketplace.
If you’d like to dive into what NFTs are a bit more, you should check out our ‘What is an NFT?” article.
NFT vs. Traditional Artwork
What’s the difference between NFTs and traditional artwork? Well not too much. Just like how in the art world modern art can go for exuberant amounts, NFTs are valued based on their creators and scarcity.
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Just like how Onement V by Barnett Newman is a whole lot of blue valued at $30.9 million, crypto artwork or NFT valuations largely depend on the community. Most of the time, it comes down to bidding and resale value.
Do NFTs go up in value? Most definitely! It’s just important to remember their value isn’t tied to physical pieces of art. The valuation and resale income you get from your NFT depends on your smart contract and choice of cryptocurrency.
Top 8 Best Cryptocurrencies for NFT Artwork in 2024
So what’s the best NFT crypto for your art? Here are the top 6 cryptocurrencies for artists:
- Ethereum — The best NFT cryptocurrency for art overall
- Solana — The best environment and cost friendly NFT cryptocurrency
- Tezos — One of the best NFT cryptocurrency for smart contracts
- Palm — The best energy-efficient cryptocurrency for artwork
- Polygon — The best alternative NFT cryptocurrency for affordability
- Flow — A great up and coming NFT cryptocurrency for art
- Arbitrum — A scaling solution packed with fast transactions and low fees
- Wax — A carbon-neutral blockchain that runs on a POS system
How to Pick the Best NFT Crypto for Your Art?
NFT crypto: which is best for your art? Picking the right cryptocurrency can be tricky if you’re not sure what to look for. When picking the best cryptocurrency for your artwork, you need to keep in mind a few main criteria to make sure you’re on the right track, we’ve listed them below:
1. Understand NFTs and Your Token
Although it may seem overly simplistic, knowing the token you choose to create your NFT art is pivotal. For example, although Bitcoin is the most valuable cryptocurrency, it’s suitable as a digital asset and not for creating NFTs. When it comes to creating NFTs, using a blockchain that is flexible and capable of smart contracts like Etherium is essential.
That said, most cryptocurrencies are available on the Ethereum blockchain. However, altcoins like Cardano aim to stay on their niche chain and as a result, are not as popular for creating NFTs.
When it comes to creating NFTs, gravitating to cryptocurrencies that are available on the Ethereum blockchain like Solana, Tezos and Etherium is the smarter move to make.
While currencies like Sandbox and Decentriland are some of the most popular for NFTs, when minting NFT artwork in particular these are completely ineffective. Why? Well, these currencies are more suited for game-based NFT assets and not for minting NFT artwork.
2. Pick the Right NFT Marketplace
When it comes to picking the right NFT marketplace, like with most businesses, it’s best to follow the crowd. While there is an ever-expanding list of NFT platforms, each marketplace comes with its own features, collectibles, and NFT creators. Also, you should be sure to select your cryptocurrency keeping in mind the platform you want to sell on. Some of the more popular NFT marketplaces include:
Open Sea
One of the most popular NFT platforms out there, OpenSea is an NFT marketplace that allows users to make payments using over 241 different types of payment methods and mint NFTs at affordable rates. With over $10 Billion in transaction volume, this platform is home to many popular NFT collections and also supports a varied number of blockchains.
Rareible
When it comes to an NFT platform that provides it services at an affordable price, Rareible is a great option to consider. This Platform is capable of supporting a wide variety of tokens which are divided on the basis of categories.
As an artist, when it comes to creating NFT artwork, you can connect with a community of creators and potential buyers and do this by connecting it to your existing NFT wallet.
Mintible
When it comes to artists getting started with NFT artwork, Mintable is a convenient platform to get started with. Started by Zack Burks, this NFT platform allows users to buy, sell and create NFT artwork, as well as, a wide range of other NFT assets.
When using this platform, however, you’ll have to first fund your crypto wallet with Etherium to link it with the Mintible platform. Popular for being backed by Mark Cuban, this NFT platform is a great alternative worth considering your NFT artwork.
Nifty Gateway
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This digital art and NFT auction platform are owned by the Winklevoss twins. Used by famous personalities like Grimes, Beeple, and LogicK, this NFT platform is definitely one of the more popular marketplaces out there. Nifty Gateway is the ideal platform for reselling artwork.
SuperRare
If you’re looking to create a limited-edition collection of NFT artwork, SuperRare is an excellent platform for creating blockchain NFTs.
Regardless of whether you’re buying, creating, or selling digital assets, this platform offers a convenient way to earn royalties on your artwork when resold. One perk of the platform is that it’s comparatively easy to work with when compared with some of the more technical ones out there.
3. Minting and Transaction Charges
When it comes to minting NFTs, you’ll have to spend cash in the form of crypto via your crypto wallet. This cost of minting is known as ‘gas fee’ or ‘energy surcharge’ and varies based on the current price of the crypto coin you choose to mint your NFT.
Although this may seem like something that you should be conscious of, in the long run, it’s not too consequential. Generally speaking, the minting costs are proportional to the value of the cryptocurrency you select.
4. Carbon Footprint
If you’re someone who cares about the environment and is concerned about any harmful effects that come along with minting NFTs, here’s what you should keep in mind.
Cryptocurrency chains on Ethereum, at the moment, run on a ‘Proof of Work’ model which means that the process of validating ownership through a new block added consumes a huge amount of energy. Ethereum consumes 238.22Kwh per transaction which is a whole lot more than 100,000 VISA transactions. Popular crypto-like Ethereum and Bitcoin function on this model.
On the other hand, there are cryptocurrencies like Solana, Tezos, and Ripple that function on the ‘Proof of Stake’ model which consumes significantly less energy.
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Solana for example only uses 1,837 Joules per transaction which is equivalent to the energy used for two google searches. If you’re an environmentally conscious person, this is definitely something worth keeping in mind.
Top 8 Best NFT Crypto for Art
1. Ethereum
The most popular cryptocurrency for NFTs by far, Ethereum does what Bitcoin can’t with the help of smart contracts and a large and dedicated NFT community. Most of the popular NFT platforms and NFTs run on this blockchain, making it the best choice for any artist looking to rake it in big.
While Ethereum burns through energy with a huge carbon footprint, it plans on moving to the proof of stake model this year. What does this mean? This will ensure it uses a fraction of what it currently does now, making it a lot more viable.
The go-to choice for artists and NFT buyers alike, this cryptocurrency has the 2nd largest user base and value among all cryptocurrencies. With famous NFT projects like Cryptopunks and NFTs worth all the way up to 11.75 million, Ethereum has the biggest market for NFT minting, selling, buying, and distributing.
Ethereum is the most used on a wide number of crypto wallets and platforms making it the best cryptocurrency for NFT art.
Pros |
Cons |
| ➕ Decentralized approach | ➖ It uses a difficult programming language |
| ➕ Easy setup and manages private blockchain networks using an all-in-one SaaS platform | |
| ➕ It is possible for businesses to obtain privacy granularity |
2. Solana
When it comes to environmentally friendly NFT cryptocurrencies, Solana takes the cake for both popularity and affordability. Although comparatively new, Solana has proven to make transactions more efficient and cheaper when compared with its expensive peers.
That said, there have been a few security breaches in the past, most notably the major hack that occurred in early 2021. So, while Solana is both cheap and popular, it still has a few bugs to iron out.
If you’re wondering how to create NFT art that’s energy conscious, opting for proof of stake model cryptocurrencies like Solana is a suitable option. With NFT projects worth all the way up to $2 million, Solana is likely the best cryptocurrency for NFT Cryptocurrency for sustainability as of the moment.
Pros |
Cons |
| ➕ It involves numerous credible investors | ➖ Centralization is still a problem |
| ➕ It is compatible |
3. Tezos
With one of the most dedicated communities, Tezos is a cryptocurrency that’s affordable and with a loyal following. Tezos is one of the more indie cryptocurrencies out there, but like most things “indie”, this NFT cryptocurrency has a surprisingly large user-base.
When it comes to minting NFTs on Tezos, this cryptocurrency is environmentally-friendly and allows users to create smart contracts. This cryptocurrency can also help ensure artists get paid royalties on every resale of their NFT. That said, there has been some caution with regards to the security of this crypto which is worth keeping in mind
With NFTs worth $135,000, this NFT cryptocurrency is one that operates on the Proof of Stake model, making it significantly greener and more affordable to work with. If you’re looking for a crypto for royalty income, Tezos is one of the best cryptocurrencies for artists.
Pros |
Cons |
| ➕ It offers high-value use cases for both safety and code accuracy. | ➖ The commercial usage of Tezos is not very broad |
| ➕ It provides stakeholders with formally organized processes | |
| ➕ It employs an eco-friendly proof-of-stake consensus process |
4. Palm
This NFT cryptocurrency is a layer 2 solution that uses less than 1% of the normal energy used by cryptocurrencies like Bitcoin and Ethereum. While Palm runs on the Ethereum blockchain, this cryptocurrency, as mentioned, is greener and has certainly been gaining traction.
With Palm NFT being a collective of entertainment, technology, and crypto art, this versatile cryptocurrency allows artists and creators an accessible ecosystem. Through Palm artists can create NFTs on the Ethereum blockchain at a significantly lower price.
The lower gas costs make it an apt and affordable choice for artists for creating NFTs on a reliable system. Now integrated with Nifty Gateway (the popular NFT platform), this crypto is accessible and convenient to use by a large user base.
Palm has artists like Damien Hirst and even DC comics launching NFTs using it for NFT artwork and anticipated NFT drops. This coin is a suitable energy-efficient cryptocurrency for artwork and is worth considering when creating digital assets.
Pros |
Cons |
| ➕ Quick transaction validation | ➖ It is a relatively new technology with limited community resources and documentation. |
| ➕ Super low gas fees |
5. Polygon
Yet another layer two NFT cryptocurrency, Polygon is an altcoin that functions on the Ethereum blockchain. This up-and-coming crypto is energy efficient and just like Palm uses less than 1% than traditional currencies.
With Lazy minting this currency also ensures creators can mint NFTs with no upfront cost, making things convenient for new artists and creators. How do they make their money? Well, after the currency is sold, they deduct a 2.5% service fee, which is still reasonable all things considered.
That said, a few drawbacks worth mentioning with this crypto is that it’s less secure, less popular and there is a small cut on your royalties during the resale of the NFT.
Also, when compared to crypto like Etherium, Polygon is both cheaper and has quicker transaction times.
Pros |
Cons |
| ➕ Grants and developer assistance are available | ➖ Polygon is less secure than Ethereum |
| ➕It is a Layer 2 blockchain platform | |
| ➕Its ecosystem of dApps and other tools are expanding |
6. Flow
While one of the more niche NFT cryptocurrencies around, Flow has made a name for itself with big names. Created by Big Dapper Labs, this coin was made use in NFT drops by the NBA, NFL, and even MotoGP.
This decentralized and developer-centric blockchain is versatile to use both for apps, games, and digital assets making it accessible to all. And with its own NFT platform BloctoBay in development, this currency is definitely worth keeping an eye on.
Flow allows users to create and sell NFTs Rareible which is one of the more popular NFT platforms for artists and creators alike.
Pros |
Cons |
| ➕ It permits quick, affordable transactions | ➖ It uses a Proof-of-Stake consensus process |
| ➕ It drives blockchain-based apps |
7. Arbitrum
You can also consider Arbitrum to be one of the new kids on the block. A scaling solution packed with fast transactions and low fees, this Ethereum-run platform is a stellar pick for a lot of collectors. With a thriving community made of exciting projects and goal-oriented builders, this L2 contender is the one to look out for.
The entire project is still in beta, and like many of you, we’re also just waiting for more things to unravel.
Pros |
Cons |
| ➕ It includes a strong ecosystem and tools | ➖ It possess no native tokens |
| ➕ Enhanced EVM compatibility |
8. Wax
According to its website, “WAX is a carbon-neutral blockchain that runs on a Proof of Stake system.” In other words, they “don’t need supercomputers to wage an energy-sucking battle to complete a single transaction. It’s a lean, green NFT minting machine.”
Is there a better way to explain that? Guess not.
Home to a few of the most popular NFT games like R-Planet and Alien World, the platform also boasts of—you guessed it—its pursuit of environmental initiatives, citing they only use less than 0.00001% of the energy of Proof of Work.
Aside from its promise to plant trees, the platform also combines app integration and video technology, expanding more possibilities for game enthusiasts and NFT hobbyists.
Pros |
Cons |
| ➕ It comes with no transaction fees | ➖The WAX protocol’s smart contracts have certain innate vulnerabilities. |
| ➕ It has a vast and convenient marketplace. |
Frequently Asked Questions
Which is the most popular cryptocurrency for NFT art?
Ethereum is the most popular cryptocurrency for NFT art, and it has the largest market for NFT minting, buying, selling, and distributing.
How is NFT different from crypto?
Crypto art is a type of digital art that uses encryption to produce one-of-a-kind works that may be sold after being authenticated. NFTs, on the other hand, use blockchain technology to produce unique tokens that serve as a substitute for digital assets. NFTs are primarily used for a variety of things, such as games, digital art, and antiques, whereas cryptocurrencies are typically used for payment or investment, which is one of the key differences between NFTs and cryptocurrencies.
Is crypto a part of NFT?
NFT is not a type of crypto because cryptography is used to secure transactions, whereas NFT is not based on any currency.
How to Pick the Best NFT Cryptocurrency for Your Art
When it comes to picking the best NFT cryptocurrency for your artwork, it mostly comes down to your budget and environmental consciousness. The best NFT crypto doesn’t depend only on the coins market cap but rather on the communities and crypto trends.
In this article, we went over everything we thought you should know to pick the most suitable Cryptocurrency for your NFT artwork.
Do you agree with this list? Let us know in the comments below!
