NFT stands for “non-fungible token.” The worth of the NFT market will be more than $7 billion at the end of 2021. NFT has seen the most considerable market growth, and continuous transactions are helping it grow and explode. However, before starting investing and buying NFT, users need to consider some factors about the best marketplace. So, here’s a brief table on some of the biggest NFT Marketplaces:
| Name | Volume | Buyer Fee | Seller Fee | Accepted Artwork | Wallet |
|---|---|---|---|---|---|
| OpenSea | $10.35B | No fees | 2.5% | Audio, Video, Images, Artwork | MetaMask,Coinbase, TrustWallet etc. |
| Nifty Gateway | $3B | 5% | 5% | Digital Artwork | MetaMask, Gemini, etc. |
| Foundation | $8.4M | No exact details | 15% | Digital Artwork, audio, video, Image | MetaMask and other third party wallets |
| ATOMICHUB | $9.1M | 2% | 2% | .png, .jpg, .mp4, web | All third party wallet |
| Axie | $1.91M | No fee | 4.25% | Gaming | Ronin Wallet |
| Myth.Market | $1M | Depend on market | Depend on market | Trading cards | WAX cloud Wallet |
| SuperRare | $30M | 3% | 15% | All types of NFTs | All ETH supporting Wallet |
| Makersplace | $30M | 15% | 15% | Digital artwork, audio, video | MetaMask, TrustWallet etc. |
| Rarible | $193M | 2.5% | 2.5% | Digital artwork, music, | Coinbase, Wallet Connect |
| Mintable | $10B | Depends on NFT | Depends on NFT | Image, Audio, Video, 3D | MetaMask, TrustWallet |
Check out CoinMonks NFT Collection on OpenSea.
Table of Contents
1st Biggest NFT MarketPlaces: OpenSea
OpenSea was founded in 2017, and as of now total user count is 600k+. More than 80M+ NFTs are available on this platform. OpenSea is one of the largest digital marketplaces to buy, sell and explore digital items. All trending NFTs are available in OpenSea.
Marketplace provided by OpenSea includes Art, music, Domain Names, trading cards, etc. NFTs like CryptoPunks, AKC, The Sandbox, SupeRare are available to buy. OpenSea also provides the option to create NFTs. To create your own NFT, a user needs to set up a wallet and connect to OpenSea.
Also, read OpenSea Buys Dharma Labs, Designates New CTO
Then, users can set up their collection and add description and fee details. After setting up details, the user will be able to upload NFT like image, audio, video, or any art and customize. A creator can choose between a fixed-price listing, auction, or declining price listing. OpenSea accepts payment via Credit/Debit card and cryptocurrency.
Recently Adobe teams up with OpenSea to launch an option in photoshop where creators can prepare artwork as NFT.
To buy NFT on OpenSea, users can search for a particular asset or check trending assets and buy with a click. All the details will be listed, and buyers can checkout. OpenSea charges a fee for sellers that is 2.5 % of total volume. For buyers, there are no fees. All over, OpenSea is safe and secure to use, and there are no security concerns to worry about.
Also, read John Legend to Launch an NFT Platform for Musicians and Entertainers
2nd Biggest NFT MarketPlaces: Nifty Gateway
Nifty Gateway is owned by Gemini. Nifty Gateway is the premier destination to buy, sell, store and display your digital art and collection in the form of NFT. NFTs are stored in a secured wallet, powered by Gemini’s state-of-the-art custody technology.
Payment options available in Nifty Gateway are Debit/Credit card, Gemini Balance, prepaid ETH, and they charge no Gas fees. For security reasons, a 2-factor authentication is recommended after opening an account. There is no buyer and seller fee in Nifty Gateway which makes it more interesting. If the user owns NFT in another platform, he can still sell using Nifty Gateway after adding MetaMask wallet.
Also read, Trust Wallet vs MetaMask – Which is the Best Crypto Wallet?
Artists like Cris Cyborg, Lyle Owerko, and Micheal Kegan support Nifty gateway. All trending NFTs like Gold, A Cube, The Bitcoin Angel, FACES are available to buy. This platform supports only USD and ETH, and buyers consider this one of the drawbacks. Drops feature allows users to prebook NFT and buy before selling out.
They plan a drop in every three weeks, and after the sell-out, users will only be able to get NFT from the collection in the marketplace.
Related read, Non-Fungible Tokens Explained
3rd Biggest NFT MarketPlaces: Foundation
Founded in 2018, Foundation has the latest deal amount of $ 8.4M. The user count of Foundation is 956k+ and a total of 667 collections, 108k+ artworks are available. They also verify user accounts with social media platforms like Twitter and Instagram. Twitter is the most common, and a total of 24k+ users and creators have been verified.
Foundation brings digital creators, crypto natives, and collectors together to move the culture forward. They provide some community guidelines for creators and supporters. For checking them click here.
Creating and selling NFT is almost as same as another platform. To start with, Foundation creators will have to get invited by any member of the Foundation community. Once the creator receives an invite, they have to set up a wallet with ETH only. Then, before creating an artist profile, they have to mint an NFT to a decentralized peer-to-peer storage network. Finally, when an NFT is sold creator receives 85% of the selling price, and in secondary sells, the creator owns 10% royalty.
To buy any asset user will have to connect to any wallet like MetaMask and bid for an asset. To start buying NFT, anyone can create a profile, but MetaMask or any third-party wallet is required. Cryptocurrencies are used to pay for all transactions on Ethereum. Users can bid for NFT, win in the auction, and sell in the secondary market.
Foundation has received a positive response from creators and supporters in social media to verify user identity using social media platforms. In 2021, Foundation has increased user count as NFT exploded in the market and gained positive responses.
4th Biggest NFT MarketPlaces: ATOMICHUB
Founded in 2020, ATOMICHUB has crossed over 9 million NFT transactions using the WAX blockchain. Stats from ATOMICHUB show their highest one-day volume is $9,147,735. Only USD and WAX currencies are being used for transactions in ATOMICHUB.
ATOMICHUB is owned by pink.gg company. Pink.gg is a team of blockchain enthusiasts and they focus on NFT and true ownership of digital goods. This platform allows creators to create and sell NFT, and supporters can buy NFT.
Further, it charges 2% of sales value less than other platforms available. Blockchain fee is also applicable and deducted from the sales price. ATOMICHUB doesn’t accept credit/debit card payment and not even PayPal. However, it is a little complicated for beginners to understand because of the complex UI.
Some users prefer to use ETH for transactions and it allows them to convert WAX to ETH and vice-versa.
In ATOMUCHUB real owner of NFT gets some amount in every transaction of their NFT no matter how many times it has been sold and bought. File formats supported by ATOMICHUB are PNG, JPEG, WEB, GIF, and MP4. ATOMICHUB received positive responses from creators and is now continuously growing in the NFT market.
5th Biggest NFT MarketPlaces: Axie
Axie is an NFT generated in the fantasy game Axie Infinity. Owned and developed by Sky Mavis, Axie Infinity is based in Vietnam. This platform is dependent on players. They buy and sell their asset to other players, and as of now, they claim to sell 2,366,826 NFTs. In this platform, users won’t be able to buy any other type of NFTs like artwork or something; only gaming assets are available. Users must connect to the Ronin wallet before starting.
Also read, Where and How to Buy AXS Token (Axie Infinity Shards)?
Axie charges a 4.25 % transaction fee from sellers in every transaction, and there is no fee for buyers except gas fees. The gas fee depends on which type of transaction has been made.
Axis can be exchanged with other cryptocurrencies and used as real value. Ronin wallet is a must before starting with Axie Infinity.
Axie provides a play-to-earn feature where players can fight battles and collect axis. After winning battles, users will get SLP(Small Love Potion) that can be used to breed Axies. SLPs are ERC 20 tokens and will be transferred to users when they breed Axies.
It has been recommended that players use Axie and sell/buy NFTs.
6th Biggest NFT MarketPlaces: Myth Market
Myth Market is a series of convenient online marketplaces supporting various brands on the WAX Blockchain. They support trading cards like GPK, GoPepe, Heroes, KOGS, and Shatner. All five markets of trade cards are available in MythMarket. Other than that, no NFTs are being sold.
According to creators’ statements in Medium, total trading volume has been reached $1,000,000.
MythMarket support only WAX for transaction; hence the user must have a WAX cloud wallet before trading. MythMarket doesn’t accept payment from debit/credit card or Paypal. Only WAX cryptocurrency is accepted for transactions.
Each market in MythMarket provides different types of trading cards like William Shatner’s memorabilia. Although it offers only trading cards, traders still prefer to use it because of its popularity.
Also, read GensoKishi Announced The Launch of its First NFT Auction
7th Biggest NFT MarketPlaces: SuperRare
SuperRare platform was founded in 2018, and it allows creators to create and sell their artworks using Ethereum. Buyers can find arts here and can make big deals. Once NFT is in SuperRare, it can be brought and sold on secondary markets. SuperRare also allows real owners to earn in every transaction done in the secondary market. When creators sell their NFT, they receive 85% of the selling price, and from the next transaction, they earn 3% of the selling price.
Before buying an NFT, collectors must connect their third-party wallets. SuparRare supports only three wallets- MetaMask, Fortmatic, and wallet connect. Creating NFT is a little bit difficult than buying. Creators need to ensure that artwork is owned by them and is unique. In SuperRare, users can’t find any game or music-oriented NFTs. Only artwork-related NFTs are supported.
SuperRare doesn’t accept credit/debit cards, Paypal payments. Only ETH is supported for transactions. It also charges 3% buyers fees and a 15% seller fee higher than other similar platforms available there.
8th Biggest NFT MarketPlaces: Makersplace
Makersplace is a platform to sell and collect unique NFTs. Collectors can trust makersplace as it uses blockchain and ensure uniqueness. One of the best advantages of using makersplace is it allows credit and debit cards as payment options. It also supports ETH for transactions.
Makersplace charges a 15% fee for every sale. However, there is a 2.9% additional fee for credit card transactions. So creators also get part of every selling price in the secondary market.
Makersplace can be referred to as beginners because of its easy interface, and NFTs from new creators are also being listed. Although for digital creators platform is only available as invite-only means creators need to be invited by members.
9th Biggest NFT MarketPlaces: Rarible
Rarible allows creators to create and sell artwork. As of now, the total trading volume of Rarible is $274M, and 405k NFTs have been created with a user count of 1.6M. Rarible is a multi-chain NFT marketplace with ETH, flow, and Tezos integrated. Creators include LIRONA, Pak, The Watcher, eBoy, Aavegotochi, Floyd Mayweather Jr, and Lindsay Lohan are available in Rarible. Additionally, creators can trade digital art, collectables, music, and video NFTs.
Related read, Create and sell your first NFT using Rarible
Users must have created a wallet in Rarible before starting any transactions. Buyers and sellers are both charged a 2.5% transaction fee. Payment methods like credit/debit cards and Paypal are allowed. It also allows users to use their wallet available in wallet connect, Coinbase, Portis, etc. The wallet also pays the gas fee of transactions. However, Rarible doesn’t allow you to withdraw NFTs from other platforms.
10th Biggest NFT MarketPlaces: Mintable
Mintable was founded in 2018 and allows users to Mint, Buy, and sell NFTs. Mintable is the first platform to support gasless minting. When the user creates NFT, he will get the option to create transaction-fee NFT or traditional NFT. If the creator chooses free minting, it won’t appear in their wallet until it’s sold. Eliminating gas fees makes mintable unique and good for beginners who have just started creating and selling NFTs. Mintable also supports 3D files to create NFT, and music, image files are supported.
To buy an NFT in mintable, users will connect to a third-party wallet (MetaMask, Trust Wallet). As transactions are done in ETH, users will have to add ETH to their wallets.
Once users have ETH in their wallet, they can select a particular NFT and buy. Also, to sell an NFT, the user must have a crypto wallet and a unique media file. Listing products and selling is easy in Mintable and doesn’t require any extra steps. Game items can also be collected in Mintable.
Mintable accepts payment via credit/debit card and Paypal and crypto-wallets. It charges a 5% extra fee for payments done by credit cards. Mintable charges transaction fees in place of buyers and seller fees. For gasless items, transaction fees are 5%, printable 10%, and for normal items 2.5%.
Mintable received good reviews from beginners and supporters too. Users prefer to use Mintable as it doesn’t charge any gas fees.
Conclusion
In 2021, we have seen a sudden growth in NFT. Traders are supporting digital currencies, artwork, and other assets. In the meantime, a lot of marketplaces of NFT entered the market and evolved. Creators need a secure platform to store NFTs and sell. After checking all the factors they should decide on which platform they can enter.
Every platform has pros and cons some don’t charge transaction fees and some don’t charge gas fees. The market of NFT is still growing and a lot of things will be emerging. We have tried to explain all the needed information that will help you decide the best marketplace out there.
Frequently Asked Questions
Yes!
Mythmarket consists of 5 submarkets of trading cards.
Only Gaming assets can be bought/sold.
Yes!
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