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Over the last few years, dozens of NFT marketplaces have emerged targeting different user segments, promising improvements to the OpenSea paradigm with different features and fee/pricing models.
Landing page depth isn’t the only difference. These marketplaces aim to build communities with unique characteristics. Which one is best for you?
Footprint Analytics conducted extensive research on 11 mainstream NFT trading platforms to see how they differentiated. The results are as follows.
high seas Currently the largest and most popular NFT marketplace. As the chart above shows, the total trading volume as of October 8 is over $35.5 billion. The platform allows users to create, buy, and sell a variety of NFTs, including collectibles, artwork, and digital assets in virtual worlds. – Game items, GIFs.
OpenSea is focused on trading on Ethereum and uses Ethereum smart contracts.
Users can quickly browse popular and noteworthy new works on the homepage. Additionally, users can set up an account and create her NFT in minutes for free. These features make OpenSea a beginner-friendly platform.
However, OpenSea charges a fee of 2.5% per transaction. This is higher than some of our competitors. The charge for X2Y2 is 0.5% and the charge for LooksRare and Magic Eden is 2%.
OpenSea is also one of the only NFT marketplaces (other than Rarible) with a dedicated mobile app.
rare Launched in Russia in early 2020, it differentiates itself from OpenSea by giving users and creators more control and control over their platform.
super rare SuperRare has a more streamlined and artistic look, while Rarible’s interface bombards you with a dizzying series of flashing GIFs.
The platform is a closed community with active social feeds and edit pages containing artist profiles. If an artist wants to join the platform, she must submit an application to join SuperRare as a creator. It usually takes several months for an application to be approved. Once approved, the value of your artwork increases.
A 15% commission is charged on each sale, but a fixed transaction fee of 3% is paid by the buyer.
SuperRare may be a good choice for users looking for high-end NFT art.
foundation, like SuperRare, is a closed marketplace platform. It is run by a select group of artists and requires an invitation by a current artist to post work.
Foundation’s NFTs are on average more expensive than other platforms and tend to retain their value longer.
When selling NFTs on the Foundation, artists receive 85% and the platform receives a 15% commission.
Decentraland Users can create, own, and trade virtual land, and land owners can use virtual land to create experiences, games, and applications that other users can access.
Similar to Rarible, it will issue a native digital currency, MANA, and also give each MANA holder the right to vote in the Decentraland DAO. Decentraland is popular with users because unlike other virtual worlds, it focuses on ownership owned by users.
Answer these four questions when choosing an NFT marketplace platform:
This work, footprint analysis community.
The Footprint Community is a place to help data and crypto enthusiasts around the world understand and gain insights about Web3, the Metaverse, DeFi, GameFi, or any other area of the emerging blockchain world. Here you’ll find vibrant and diverse voices who support each other and move the community forward.
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Vincey, September 2022
Data Source: Footprint Analysis NFT marketplace analysis
