Want to create and sell NFTs? A look at top 5 NFT marketplaces

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Non-fun­gi­ble-tokens (NFTs) have grow in pop­u­lar­i­ty as celebri­ties and tech evan­ge­lists con­tin­ue to jump into the cryp­tocur­ren­cy band­wag­on. What makes NFTs inter­est­ing is that they are fueled by blockchain tech­nol­o­gy and give exclu­sive own­er­ship to the artists and cre­ators. If you’re an artist who is look­ing to con­vert and sell your dig­i­tal art such as an image, video, GIF, music, etc to an NFT, we list some of the best NFT mar­ket­places where you can get your dig­i­tal col­lectible pub­lished cater­ing to the right audience.

(Before, we delve into the top­ic, take a quick detour of our arti­cle on how to con­vert your dig­i­tal art to NFTs.)

OpenSea

OpenSea is one of the largest NFT mar­ket­places. (Screen­shot: OpenSea)

OpenSea is one of the largest NFT mar­ket­places. The plat­form facil­i­tates cre­at­ing, buy­ing and sell­ing NFTs. It is also called as the ‘ebay’ of NFTs, cater­ing to more than 600,000 users, host­ing 2 mil­lion col­lec­tions com­pris­ing 80 mil­lion NFTs. The plat­form gives a quick tuto­r­i­al if you are a first time NFT col­lec­tor. OpenSea sup­ports images, video, 3D and music. The com­pa­ny does not cater to any spe­cif­ic audi­ence. It allows every artist, cre­ator to buy, sell or even auc­tion their NFTs.

To  cre­ate or ‘mint’ an NFT, users pay some­thing called ‘gas fee’. Gas fee is basi­cal­ly the trans­ac­tion fee required to reg­is­ter your dig­i­tal art into the blockchain smart con­tract. OpenSea charges ser­vice fee at the first NFT mint­ing (any­where between $70 to $300), but from the sec­ond NFT mint­ing, users are only asked to pay gas fee.

The com­mis­sion fee tak­en by Opensea is 2.5 per cent of sales. If you’re look­ing for a way to escape gas fee you could choose Poly­gon Ethereum blockchain.

Rarible

Rari­ble allows users to col­lect roy­al­ties on sales. (Screen­shot: Rarible)

Rari­ble ranks sec­ond on our list. It caters to a huge audi­ence just like OpenSea. The home­page dis­plays top sell­ers and NFT art col­lec­tions, and allows you to search for NFTs via cat­e­gories such as pho­tog­ra­phy, games. The plat­form allows users to cre­ate an NFT, sell them for a fixed price or even con­duct an auc­tion. It should be not­ed that you don’t have to nec­es­sar­i­ly sell every mint­ed NFT, you can mere­ly house them on the platform.

For new­bies who are mint­ing NFT for the first time, you must pay two fees— wal­let link­ing per­mis­sion fee and for  upload­ing your file on the Ethereum blockchain. These are net­work fees and does not go to Rari­ble, this could vary from $100 to $300. For mint­ing the sec­ond time, you will be only asked to pay the gas fee. The com­mis­sion fee tak­en by Rari­ble is 2.5 per cent of sales.

Rari­ble also allows users to col­lect roy­al­ties on sales, mean­ing that you can col­lect a per­cent­age of the sale price not only when you first sell your NFT, but even if that per­son decides to sell the NFT to some­one else. Cre­ators can set roy­al­ty fees as high as 50 per cent.

Foundation

Foun­da­tion is an invite-only plat­form. (Screen­shot: Foundation)

Foun­da­tion NFT mar­ket­place is not open-to-all. It is an invite-only plat­form, mean­ing that you need to be nom­i­nat­ed by an exist­ing user of the plat­form to be able to use the NFT mar­ket­place. To nom­i­nate any user, cre­ators on Foun­da­tion will need to sell at least one NFT on the mar­ket­place before they can send out invites.

This plat­form works quite sim­i­lar to OpenSea and Rari­ble. If the piece is resold on the sec­ondary mar­ket, a 10 per cent roy­al­ty goes to the wal­let that orig­i­nal­ly mint­ed the NFT—in perpetuity.

When you col­lect a work using Buy Now, Offers, or Auc­tions, the NFT gets trans­ferred to your wal­let and appears on your Foun­da­tion col­lec­tor pro­file. You can then dis­play it in your vir­tu­al gallery, share it on social media, or sell it lat­er on the sec­ondary market.

SuperRare

Super­Rare charges a 3 per cent trans­ac­tion fee for all pur­chas­es on the plat­form. (Screen­shot: SuperRare)

Super­Rare NFT mar­ket­place as the name describes, is the plat­form for unique and sin­gle-edi­tion dig­i­tal art­works. Each art­work is cre­at­ed by a ver­i­fied artist and every art­work is dis­tinct­ly dif­fer­ent from each oth­er on Super­Rare. There is a 3 per cent trans­ac­tion fee for all pur­chas­es on the platform.

Users are required to pay a gas fee for util­is­ing the Ethereum blockchain. For pri­ma­ry sales, the plat­form charges a 15 per cent com­mis­sion and cre­ators receive 85 per cent. On sec­ondary sales, cre­ators receive a 10 per cent com­mis­sion pro­vid­ing pas­sive rev­enue from an art­work if it con­tin­ues to trade on the sec­ondary market.

Solsea

Solsea NFT mar­ket­place is based on Solana Net­work. (Screen­shot: Solsea)

The Solsea NFT mar­ket­place is based on Solana Net­work. What makes Solsea unique is that it allows cus­tomers to attach licens­es to their NFT items. This is a pro­pri­etary sys­tem for embed­ding copy­right on copy­right­ed tokens.

Solsea offers two options for users—private and pub­lic list­ing. Users have the option to make their NFT pub­lic to all or pri­vate to only few peo­ple in the com­mu­ni­ty. The NFT mar­ket­place has some­thing called a rar­i­ty index which rep­re­sents the rar­i­ty of a dig­i­tal col­lectible, giv­ing it more val­ue and clar­i­ty. Solsea accepts sev­er­al cryp­tocur­ren­cies as well as sta­ble­coins, offers extreme­ly low gas fee costs, and charges a flat com­mis­sion rate of 3 per cent.



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