List of the best NFT Marketplace sites, Royalty, and Transaction Fees
As one of the first and largest NFT marketplaces on a global scale, OpenSea is definitely one of the most widely used NFT marketplace sites. OpenSea supports compatibility with the Ethereum Blockchain, Polygon, and others.
Most NFT marketplace sites will require upfront gas fees before users sell or buy NFT assets. However, OpenSea provides special perks for NFT creators. They can sell their NFTs without having to pay the gas fee first. This feature is known as "lazy minting".
However, OpenSea will still charge a service fee of 2.5% of every NFT asset that has been sold on its site. OpenSea charges buyers a service fee for fixed-price sales. Meanwhile, for sales that use an auction system, the seller will pay the fee.
Axie Infinity is a gaming metaverse that allows users to raise and breed digital pets called Axie.
Each Axie has unique and distinct characteristics. Axie owners can pit their pet Axies against each other. Each player must own at least three Axies before they can start competing with other Axie Infinity players.
Axie Infinity is built on the Ethereum blockchain. Axie Infinity is a type of play-to-earn game, where you can earn tokens ($AXS or $SLP) that can be cashed in as rewards. Axie Infinity will deduct 5% from buyers and sellers who make transactions. In addition, you also have to pay a certain fee if you want to keep your Axies.
Rarible is best known as an NFT platform for digital art. Rarible provides NFTs from various categories, ranging from photography, music, digital art, domains, metaverse, games, and more. Some NFTs are sold at a fixed price, while some are sold on an auction system.
One of the advantages of the Rarible platform is that you can earn royalties from the NFTs you resell. This means you can create a passive source of income. Apart from that, you can also earn rewards from using Rarible. The rewards are paid in the form of Rarible's native currency, it's $RARI token.
Like any other marketplace, Rarible will deduct around 5% from each NFT sale and split it equally between buyers and sellers. In this case, both buyers and sellers will have to pay 2.5% of the NFT sale price.
Magic Eden is an exclusive secondary market for NFTs built on Solana blockchain and number one app for trading Solana NFTs.
You'll need a Solana Wallet to buy and sell NFTs on Magic Eden. Phantom offers one of the most popular and widely used wallets on the market. You can use it to store $SOL tokens and NFTs. Additionally, you can use it to store USDC stablecoins and the extension works on Chrome, Firefox, Brave, and Edge.
there are a few points you should keep in mind when selling NFTs on Magic Eden. The original Artist or developer behind the project can receive a sales fee. In the example below, Artist gets 5.5% of the sale price. Magic Eden also charges a transaction fee on all sales, which is 2%.
SuperRare is a peer-to-peer digital art marketplace that connects creators and art collectors. As one of the best places to buy and sell NFTs, Rarible is still relatively new, so it only has a few creators active on the platform. SuperRare itself is quite exclusive, as only creators who meet the criteria can join the platform.
If you want to join the platform, you can submit your profile to be reviewed by the SuperRare team. They will use several metrics as a basis for evaluation. Unlike other marketplaces that allow creators to mint and sell iterations of the same art collection, SuperRare only allows one edition of each NFT that is truly unique.
In terms of payment, SuperRare only accepts $ETH payments. When you buy NFTs on SuperRare, you have to pay the gas fees of the $ETH. SuperRare will deduct 15% from each sale. However, they also provide a 10% royalty, when the NFT asset changes hands from one party to another. SuperRare also charges 3% of the selling price of the NFT to the buyer.
If you're a basketball fans, NBA Top Shot is the perfect NFT marketplace. With an official license from the NBA, this platform facilitates NFT transactions in the form of video clips and highlights of NBA matches. The number of users of this platform is 534K, with a transaction volume of $972.55M.
NBA Top Shot is a closed marketplace, meaning that all NFTs on NBA Top Shot cannot be transacted outside of NBA Top Shot. You can only buy and sell these NFTs on Dapper Labs $FLOW blockchain platform.
Even so, registering an account and purchasing directly on their website is relatively easy and fast. Some of the collections on NBA Top Shot are still cheap, only around $2 - $10, so the opportunity to invest here is still relatively large.
Nifty Gateway is not truly decentralized, as the digital assets are stored on the platform, not on the blockchain. Nifties will be traded every three weeks. If you want to buy NFTs on Nifty Gateway, you can send a "blind" bid, participate in a raffle or bid in an auction.
In general, the resale value of Nifties is very high. In addition, the creator of the NFT can earn up to 10% royalty every time the NFT is resold. The platform is still not very transparent about gas fees. However, it is certain that Nifty Gateway deducts around 5% from each sale plus $0.30 for transaction processing fees.
Foundation is also one of the exclusive NFT trading platforms, as it is only for selected artists. Unlike Nifty Gateway, this platform accepts both popular and unknown artists. Foundation is built on the Ethereum blockchain. The vision of Foundation is to promote art by connecting creators and collectors.
If you want to sell NFTs on the Foundation platform, you'll need to fill out a registration form and show your art portfolio. Foundation will then review your profile and send you an invitation if your application is successful. However, if you want to be a collector only, you only need to have MetaMask or Wallet Connect.
Foundation does not charge its buyers, but they do apply a 10% deduction from all sales. Meanwhile, gas fees on the platform are not fixed and can fluctuate depending on the traffic on the network.
Venly is a digital wallet provider, like Metamask, as well as a peer-to-peer NFT marketplace. They focus on video game assets. To date, Venly has over 200K gamers who can create, buy, and sell game characters, weapons, and other collectibles.
Venly itself is not purely blockchain-based. However, the platform has partnered with Polygon, Avalanche, and Binance Smart Chain, so you can make payments using cryptocurrency. You can also use fiat money payments through PayPal. This is a great feature, especially if you want to avoid gas fees. Meanwhile, if you want to pay with crypto, you will need Venly Wallet or MetaMask.
Venly gives a 2% discount for each transaction. On the other hand, they also offer a 10% royalty for every resale that occurs. In addition, the platform also charges a withdrawal fee of 2.9% with a minimum withdrawal amount of $5. Like other platforms, Venly also offers both fixed price and auction systems.
AtomicHub is arguably one of the best NFT marketplace recommendations. The commission deduction fee applied by this platform is relatively low, only 2% of the total price sold.
The interesting thing about this marketplace is that there is no gas fee for each NFT creation, which is rarely applied to other marketplaces, such as OpenSea (when using the Ethereum blockchain, while Polygon blockchain users have no gas fee). Unfortunately, AtomicHub only accepts $WAX tokens as payment.
So, how about the Fevany recommendations above? Hope you like it. I'm so sorry if there is a word error in the writing. Next time, I will make more interesting educational articles. See you dear❤💕