OpenSea is perhaps the most popular platform for non-fungible token minting, purchasing, trading, and selling (NFTs). To date, more than 1.4 million wallets have traded NFTs on the marketplace, with a total volume of $23.5 billion. According to DappRadar, this is $5 billion more than the closest competition of uprising NFT marketplaces startups.
But, as well as being known for its achievements, OpenSea has also been known for its troubles. The NFT marketplace startup, which launched in 2020, allowed people to mint’ NFTs for free and without clearance. Plagiarized works, fake collections, and spam made up ’80 percent’ of freshly created NFTs, according to OpenSea.
In January of this year, OpenSea returned $1.8 million to users who sold NFTs for substantially less than their genuine value. BBC revealed that one wallet generated over $800,000 by abusing an OpenSea flaw and then reselling only five NFTs.
Sales of NFTs increased to $25 billion in 2021, up from $95 million in 2020. OpenSea may have begun the trend, but it’s being challenged by several new NFT marketplaces.
NFTs have grown in popularity in recent years, with the market reaching a $40 billion valuation in 2021 and continuing to grow in 2022. So, choose a reliable and cost-effective platform, as well as the best NFT marketplace for your investment needs, if you want to dive into the NFT industry.
We’ll overview the finest NFT marketplaces startups in this guide, along with the leading NFT platforms in the field. Read it all from the comfort of your own home.
Top 7 NFT Marketplaces In 2022
1. Axie Infinity
Axie Infinity is a popular NFT marketplaces startup in the game industry. We’re all familiar with the video game platform, and now they’ve created the NFT marketplace, which allows gamers to create, store, and sell gaming equipment, characters, and other items.
Through its creative and user-friendly space, this NFT marketplace development has established a foundation for the gaming industry. Through its cutting-edge resources, this one of the more expensive NFT marketplaces draws gamers and crypto enthusiasts. Axie Infinity has a market capitalization of $2,826,939,874 as of March 15, 2022.
If you value privacy, this NFT marketplace startup is for you. Stashh prides itself on being the first Secret NFT marketplace. This implies you can use the platform to mint, buy, and sell NFTs that are private by default.
NFT producers can sell their work and secure their intellectual property with Stashh, while collectors and consumers have complete discretion over how they buy, sell, use, and display their digital treasures. This is feasible because Stashh is powered by Secret Network, a layer1 blockchain network focusing on privacy that was built with the Cosmos SDK.
Secret NFTs are available in a variety of genres, including gaming, art, sports, and NSFW. Annons, MetaRats, and Redacted Club are among the most popular collections on the site by trade volume at the time of writing. Stashh levies a 2.75 percent fee on all sales, which is withdrawn automatically when the transaction is done.
3. NBA Top Shot
NBA Top Shot is an NFT marketplace startup that lets gamers and NBA fans all over the world acquire, retain, and exchange digital cards that represent major short video basketball highlights, called “moments.”
Users can earn extremely rare tokens by completing specific sets of tokens exhibiting connected moments, and these limited-edition tokens offer films and statistics depicting a rare moment.
The marketplace, which is built on the Flow blockchain, has witnessed some remarkable sales since its debut earlier this year. Hundreds of thousands of dollars have been paid for a few NBA Top Shot tokens. The platform charges a 5% transaction fee for each NFT highlight sold.
Lebron James highlights are the top three NBA Top Shot tokens on the site, selling for $230,023, $210,000, and $208,000, respectively.
4. EverGrow Coin NFT Marketplace
EverGrow Coin is introducing a new NFT marketplace startup on the BNB Chain, which will include a brand-new protocol termed NFT lending. Owners of NFTs will be able to utilize their digital assets as collateral for crypto loans, which they can then use to profit from a range of DeFi projects.
NFT lending offers NFT collectors an innovative way to make passive income from their goods without having to sell them. Because it is also hosted on the BNB Chain, the EverGrow Coin NFT marketplace startup will have substantially lower gas prices than markets launched on Ethereum.
EverGrow Coin is a reflection token that pays out BUSD to investors every day, financed by a 14% transaction fee.
The NFT marketplace is just one of a number of new applications that will help EverGrow Coin investors earn even more rewards. It has already paid out over $35.5 million to coin holders (it just started in September of last year).
Rarible is one of the most well-known NFT marketplace developments, and it continues to have an impact on the crypto sector. For a variety of NFTs, Rarible provides an easy stamping and trading experience. Rarible’s easy-to-understand interface is one of the most appealing features that draw in new customers.
This marketplace, like OpenSea, is based on the Ethereum blockchain, but the major difference between the two is that Rarible requires the usage of its own token, the RARI token, to conduct transactions. This NFT marketplace has a fundraising value of more than $14 million.
Foundation is a non-fungible token marketplace that aims to create a new inventive economy in which designers may use the Ethereum blockchain to value their work in whole new ways and build stronger relationships with their fans.
Creators can keep their digital evidence and sell them on this platform, with customers bidding on them using Ethereum currencies. This platform was created by the NFT marketplace development business, which allows users to list any digital artifacts that can be traded using ETH. Despite the fact that Foundation is still relatively new to the market, it has already sold 50,239 ETH worth of NFT. It’s a fantastic start.
SuperRare is famous among users because of its simple approach and incredibly user-friendly layout. It represents the user experience in the marketplace in the same way that Instagram does. The platform allows creators and purchasers of digital information to communicate directly with one another.
This one, like the majority of the NFT marketplaces, is built on the Ethereum blockchain. Users can trade their antiquities for ETH by paying SuperRare 3% of the trading value.
As of 15 March 2022, CoinMarketCap has a SuperRare market cap of $43,154,122, which is steadily increasing.
Things to Consider Before Choosing any NFT Marketplaces Startups
It’s not enough to be able to post your NFT for sale in a marketplace if it’s difficult to locate someone willing to buy it. You’ll want to check if the marketplace has enough trading volume for your collectibles before deciding on a platform for your NFT trades. This makes selling your NFT to another trader simple.
Cryptocurrency investors place a high value on security. Hackers and scammers are exploring new ways to prey on unwary victims as the NFT space grows. As a result, while selecting an NFT marketplace, it’s critical to evaluate the platform’s security measures to protect users, especially of the NFT marketplaces startups.
Another thing to think about before deciding on an NFT marketplace is the commission. The majority of NFT trading platforms on the market now levy transaction fees ranging from 2.5 percent to 15% for each NFT sale. So, before making a decision, find out how much each platform costs.
Before you can buy or sell NFTs, you must first process the transaction on the blockchain. It costs money in the form of a network/gas fee.
Exorbitant gas fees of up to $100 per transaction can be found on some blockchain networks, such as Ethereum.
Taking this into account before selecting an NFT marketplace allows traders to optimize their gains rather than wasting them on transaction costs.
NFT Collection Traded
The number of NFT categories has risen considerably in the previous several years, making it impossible to track them all. While digital art, in-game materials, music, and sports NFTs continue to dominate the market, there are numerous more types of NFTs. However, not every NFT marketplaces startups support every category, and some NFTs are platform-specific.
NFT Marketplaces startups are reshaping the future in new ways. As a result, you need to act quickly. Hire NFT marketplace developers from top NFT marketplace development companies to assist you in developing the NFT Marketplace according to your specifications.
On NFT marketplaces like OpenSea, Rarible, and Foundation, NFTs can be sold and bought. Some are open to the public, while others are only accessible by invitation.
The NFT marketplace requires a reliable and secure means of integrating crypto wallets in order to execute NFT payments utilizing cryptocurrency. In terms of payment choices, the cost of developing an NFT marketplace ranges from $2385 to $5040.
Top NFT Marketplaces for Creators to Sell NFT:
• Myth Market
To begin, a user must create an account on the platform and download a digital wallet to hold NFTs. After that, users can develop assets by uploading things to display their effort. The user can also choose which payment tokens to take for their art and, if the platform suggests it, set a fee.