The Best NFT Marketplace for 2022

23 February 11:37

[TL; DR]

1. OpenSea is one of the largest NFT marketplace at the moment.
2. SuperRare is unique in that it allows users to connect with and follow each other.
3. Foundation.app promotes gifted artists as well as supporting emerging ones.
4. Mintable has three variations of minting NFTs which are normal, gasless option and mintable series.
5. Nifty Gateway focuses on producing NFTs for top artists and brands.
6. Gate.io’s NFT Magic Box is an NFT launchpad for new artists.

When creating and trading non-fungible tokens it is important to make careful considerations of the blockchain network where you are going to mint the NFTs and the marketplace where you sell them. This is because these aspects are important in determining the success of your NFTs. Therefore, it is not just a matter of choosing the platforms with the lowest fees. Both the minting platform and the marketplace should be suitable for the type of NFTs you have or intend to create.

We have several marketplaces for NFTs which include OpenSea, Mintable, Rarible, SuperRare, Foundation and Nifty Gateway. This article will cover these top markets so that people are able to deal with the marketplaces that best meet their preferences.

OpenSea

OpenSea, established in 2017, is one of the largest and established NFT marketplaces. Although most of the NFTs traded on OpenSea exist on the ethereum blockchain, it supports NFTs from other blockchains such as Polygon, and Klatyn. There are many NFTs which belong to different categories like collectibles and art.

The clear categorization of the NFTs enables users to navigate the platform easily. As you would expect, you can find most of the trending NFTs such as CryptoPunks, Bored Ape Yacht Club and VeeFriends on OpenSea.

OpenSea also enables its users to mint their own NFTs using the ethereum network. This means that many artists can mint NFTs representing their pieces of art on OpenSea, enabling them to reach many people.

Source: WorldTradeMark

In addition, OpenSea provides updated data which helps the users to choose the best NFTs. For example, the data shows the daily marketing activities of various NFTs for a period of less than a minute. Also, OpenSea offers free marketplace infrastructure, although it charges a 2.5% convenience fee on sale. Again, OpenSea supports over 150 cryptocurrencies, giving its users a wide choice of tokens to use as means of payment.

Rarible

There is no doubt that Rarible is one of the top NFT marketplaces at the moment. By and large, Rarible has a large collection of NFTs from which users can choose ,depending on their needs. Another thing is that Rarible has other big pluses in its cabinet. For example, it focuses on the social aspect of a modern internet-based marketplace as it allows users to follow one another.

Secondly, Rarible has its native token called $Rari, used for governance purposes. The other interesting thing is the ease of earning this valuable token. Users earn $RARI by participating on the platform. As such, when people buy, sell or trade NFTs they earn the $Rari token. Just like OpenSea, people can mint their own ERC-721 tokens at any time. So, in order to cover the different costs, Rarible charges a 2.5% for buying and selling NFTS on the platform.

Source: Coincu

In addition to the Ethereum blockchain, Rarible supports other blockchain networks which include Flow and Tezos. Coincidentally, both Flow and Tezos have very low minting fees, with the former charging a near-zero amount.

SuperRare

SuperRare is a special NFT marketplace in that it does not sell all types of NFTs. Instead, it sells unique, one-of-one collectible NFT Art. To enable this type of NFT trading, SuperRare combines features similar to those of Instagram and Christie’s auction. As a result, artists interact with one another as well as with the art itself.

The fascinating thing is that the platform accepts various types of NFTs which include music, art and videos. However, it only accepts highly curated and interesting artworks, from gifted artists.

Not everyone has the privilege to mint NFT at SuperRare. Only users who create their profile which meet the platform’s requirements are able to mint their NFTs there. As you may predict, SuperRare should approve the profile before you mint some NFTs.

And for the artist’ s profile to be approved, he/she should attach 3 to 5 personal pieces of art, three social media handles as well as a short application video.

Despite these stringent measures, the returns on SuperRare are high. For instance, the artist earns 85% of the sale price of the artwork. This is because the commission is a mere 15% of the value of the NFT. However, currently, the artists receive their payments in ETH.

Foundation.APP

Foundation operates like an artists’ club where membership is mostly through invitations. Therefore, you can only join Foundation when you are invited by an artist who is already part of the community. As a result of this onboarding process, most artists who participate at Foundation are genuine and gifted- people who produce reputable pieces of art.

An artist who sells an NFT at Foundation earns 85% of the sales. Subsequently, the artists earn 10% in royalty from secondary sales. The community selection team chooses the best artworks which it features on its home pages, newsletters and social media platforms.

Source: Foundation

Basically, Foundation aims to promote talented and hard working artists as well as supporting emerging ones. With this in mind, at Foundation users can get the work of some influencers such as Sarah Zucker who have the habit of creating world-class artworks.

We should not confuse how Foundation onboards artists and NFT collectors. There is no selection criteria for collectors as they can come and go as they want. There is no need for approval of profiles for the collectors.

Mintable.app

Mintable offers people with no prior experience the chance to mint NFTs in a very simple way. Apart from this, users can also search for collectibles as well as manage their assets in a friendly manner. However, Mintable has three variations of minting NFTs which are normal, gasless option and mintable series.

Normal minting is the minting that involves transactions of the blockchain. With gasless minting, the users put their tokens on the platform without really minting something new. A printable series is a way in which a user can create any quantity of NFTs and make them available on the platform.

Also, Mintable charges fees in the following manner:

2.5% for normal items
5% for gasless items
10% on printable series

Nifty Gateway

Nifty Gateway is an NFT marketplace which produces NFTs for top artists and brands. These artists create collections of limited editions called Nifties. More to this, the platform interface allows users to display, transfer and even import Nifties.

At Nifty Gateway artists can only mint their NFTs after getting due approval to do so. This means that the people who intend to create NFTs should submit their applications. Due to this rigorous vetting process, the quality of NFTs at Nifty Gateway is comparably high.

Source: Facebook

As of now, two of the most expensive NFTs, Beeple's CROSSROAD and Pak's The Merge, were sold at Nifty Gateway, showing how highly regarded this marketplace is. Moreso, collectors can purchase NFTs using fiat currency, meaning that they can use credit cards to make their transactions.

Gate.io Exchange

There are some cryptocurrency exchanges which have their own NFT marketplaces. Among the notable ones is Gate.io, a centralized cryptocurrency exchange with its own NFT trading platform called NFT Magic Box where people can create their own NFTs or take part in NFT auctions. As a fact Gate.io, established in 2013, opened its NFT marketplace in 2021.

So far, there are many popular NFT collections on NFT Magic Box, which include OpenPunks, Dreamverse, Supe Infinity, K9s, MasterHornClub, Kikoverse, iFans and MetaverseX.

Among the special features of Gate.io’s NFT marketplace is the Initial NFT Offerings (INO) which is a launchpad for new artists in the industry. Primarily INO enables the newcomers to launch their initial batches of NFTs.

In order to launch the NFTs, the creators should submit their applications, which the NFT Magic Box team will thoroughly vet before approving. Above that, the creators may get grants for their projects.

Since NFT Magic Box exists on Gate.io’s native GateChain Ecosystem the artists can create their NFTs without paying any minting fees. Likewise, users can now deposit and trade the world’s best NFT collections as a result of its interoperable capacity. For instance, users can trade NFTs built on Ethereum which include ERC-721, ERC-1155 and Tron’s TRC-721, among others.

Furthermore, NFT Magic Box certifies NFT collectors, opening a way for them to benefit in significant ways. This allows them to access and trade certified original artwork displayed in a special area. They also get essential support such as exclusive funding for exhibitions and training.

Conclusion

Although there are several reputable NFT marketplaces such as OpenSea, Rarible, Nifty Gateway, SuperRare and NFT Magic Box, NFT creators, collectors and traders should select the ones which have the attributes they want such as low fees and high support, among others. Whereas OpenSea was the first NFT Market with high reputation, Gate.io’s NFT Magic Box is user-friendly and offers high support service.

Author: Mashell. C, Gate.io Researcher
This article represents only the views of the researcher and does not constitute any investment suggestions.
Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement

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