Top 10 NFT Marketplaces To Look Out For – August 2022
NFTs have had a relatively shaky position so far in 2022. Factors such as controversies, the bear market, and the crypto winter have all dissuaded plenty of people from dealing with cryptocurrency and by relation – NFTs. However, while the huge crowds may have started to disperse, the industry still keeps running.
Here are 10 NFT Marketplaces that are still going strong – alongside potential ones that are showing strength.
Keep an eye out for these 10 NFT marketplaces this August!
NBA Top Shot: For Sports Fanatics
The NBA Top Shot is an NFT Marketplace curated by the National Basketball Association and Women’s National Basketball Association. Here you can buy collectibles of memorable moments, video clips, highlights, and artworks from the world’s premier basketball leagues.
The NBA authorities have designed this as a closed marketplace, wherein you can only buy and sell on the top shot, using the Dapper Labs built Flow Blockchain. It is convenient to sign up and purchase directly on this website and the collectibles are also affordably priced. However, not all are cheap, last year in Feb, a Lebron James slam dunk video NFT fetched over $208,000.
Foundation: From Premium Artists
Designed as a simple, hassle-free, no-frills way to bid on digital collectibles, Foundation.app has sold NFTs worth more than $100 million since its launch in early 2021. The platform uses Ethereum for its NFT transactions and functions on an invite-only basis for the artists.
If you’re looking for an easy way to kickstart your NFT mining career, then Foundation isn’t the best place to start, however, the marketplace offers a myriad of artworks that can be purchased in a few simple steps.
Nifty Gateway: For High-End and Rare Drops
If you’re looking to make a large investment in NFTs or want access to high-end collectibles, this is the place for you. Nifty Gateway is renowned for hosting some of the most expensive and exclusive Digital arts, including artist Pak’s collection ‘The Merge’ which sold for $91.8 million. The platform also made headlines when it was acquired by crypto exchange Gemini, in 2019.
This marketplace features some unique options such as hosting purchased NFTs (meaning, the NFT you bought doesn’t need to be stored in your wallet rather you can directly store it on the platform), and to boost demand, the platform uses ‘Open Editions’ — a system wherein you can buy new NFTs as they release within a limited timeframe and after the allotted time, no more NFTs from that collection are ever issued.
Objkt: Provides Royalty To Artists
Objkt is currently one of the leading NFT marketplaces on Tezos Blockchain and supports both English and Dutch auctions. You can find many Hic et Nunc tokens here. Prioritizing the convenience of the users and offering them more unique features, the platform has been designed in a more avant-garde fashion than other marketplaces.
Objkt gained momentum within the NFT artists community by giving them royalties and respecting their art. Artists can mint NFTs even with a minimum of 0.0011 TEZ. On every transaction, the platform charges a fee of 2.5%
Binance NFT: Low-Fee, Hassle-Free Trading
After being one of the leading crypto exchanges in the market, Binance’s NFT Marketplace is now heading to become one of the largest NFT marketplaces around. Supported by its own blockchain, BinanceNFT is marching toward becoming the most future-proof marketplace.
The major USP of this platform is that it charges very low fees on transactions. Binance only deducts a 1% trading fee. If you own a Binance token (BNB), then it becomes incredibly easy for you to access this marketplace, however, you can also use Ethereum (ETH) and Binance USD (BUSD) to bid. If you’re an NFT creator, you can deposit ETH and BSC NFTs to sell your digital collectibles.
SuperRare: Ethereum’s Elite NFT Marketplace
SuperRare has the interesting reputation of being the NFT marketplace with the highest standards. For example, any artists who wish to mint NFTs must apply and receive approval from SuperRare Labs. This process involves submitting a formal application, a one-minute video introduction, and three of the artists’ best artworks in a Google Drive folder. As a result, SuperRare has curated a strict but high-end and expensive marketplace on the Ethereum blockchain.
When it comes to the technicalities, SuperRare also practices exclusivity. In detail, SuperRare only accepts Ethereum’s native cryptocurrency Ether (ETH) for transactions. Additionally, the platform has a flat 3% commission fee alongside the normal gas fees that apply on the Ethereum blockchain.
Creators who pass SuperRare’s standards, however, are taken care of very well. The platform awards artists with a 10% royalty fee for every secondary sale. This is alongside the 85% that they get from their primary NFT sale.
STRMNFT: Home of Lady Ape Club
STRMNFT is one of the newest NFT Marketplaces to launch in 2022. As such, they have been very generous with features such as free minting until the end of July 2022 and holding contests with a $10,000 prize pool.
The platform is a project of StreamCoin and uses plenty of their native technology to build the platform. Among these is the NSTA_602 NFT Standard, which allows users to tokenize ownership of videos. Secondly, it also introduces a new mechanism — the Dual Delegated Proof-of-Stake (DDPoS) to reach what they claim to be a processing speed of 300,000 transactions per second. Finally, the platform chose to use its own blockchain — Stream Chain —- for energy efficiency and its notable speed.
STRMNFT is also the home of the Lady Ape Club (LAC) NFTs, which launched earlier this July. This NFT collection sold out almost immediately on both STRMNFT and OpenSea. Notably, this was the first collection launched on STRMNFT, and the success makes it a platform to keep an eye on for the future.
Solanart: The Marketplace of Ethereum’s Rival Chain
Solanart is the first and largest marketplace deployed on the Solana blockchain. As a result, users who plan to use Solanart must have wallets that are compatible with Solana. These include wallets such as Phantom, Ledger, Sollet, and Glow Wallet among others.
A unique system of Solanart is the “Temporal Account”. This account is owned and controlled by Solanart where a database records every sale of each respective NFT. Once a sale happens, an automatic system transfers the SOL paid by a buyer for the NFT to the seller, which then unlocks the NFT to the buyer.
Solanart has a transaction fee of 3%, as well as an ad fee of 0.02% for every NFT bought on the platform.
Rarible: The Definition of Multiblockchain
Rarible, most notably, is an NFT marketplace that supports six blockchains. These are Ethereum, Flow, Polygon, Tezos, Immutable X, and most recently Solana.
In terms of fees, Rarible boasts a competitive model. Recently, it lowered fees to 1% across all compatible chains. It also has a trading fee of 2.5% and a competitive royalty fee of up to 50%. Finally, it has a gasless minting feature to counter Ethereum’s notably high gas fees.
OpenSea: The NFT Marketplace Giant
OpenSea is one of the most prominent NFT marketplaces, bar none. It has been the home of the most high-profile NFTs such as CryptoKitties and Bored Ape Yacht Club. This huge success makes OpenSea synonymous with the term ‘NFT Marketplace’.
However, this huge success also opened up the platform to plenty of controversies. Numerous reports of hacking, piracy, thefts, and exploits have plagued the platform over the years.
Platform-wise, however, OpenSea has plenty of flexibility. It supports up to 150 payment options, features NFTs from multiple blockchains, and even has a ‘Gasless Minting’ feature to counter Ethereum’s high gas fees.
Conclusion
A shaky situation doesn’t always result in failure. Sometimes, holding on and making things work during these troubled times is what results in newfound vigor. The current state of the crypto industry negatively affecting the NFT market doesn’t necessarily mean the failure of either.
As such, this list aims to help out the ones who are looking at our current market situation and seeing the potential that it brings.
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