New NFT marketplaces, powerful, dApps and other blockchain innovations are exploding at a mind-boggling pace. From WordPress plugins to NFT Promotional Agencies, there is an economy being built around NFT technology. But I’m not an economist. I have been researching NFT Marketplaces, and I wanted to help you navigate these complex and confusing waters.
What can you gain from reading this article? Actionable steps toward a major first-mover advantage that includes substantially lower minting fees, and a NFT community where you can thrive. With these NFT Marketplace selection criteria, and list of new NFT marketplaces, you should have what you need to do you due diligence and get an edge.
This article contains beneficial information for both NFT Creators and NFT Investors.
At the bottom of this article, you’ll find our list of new NFT Marketplaces.
Factors to consider when choosing an NFT marketplace
1.) NFT Marketplace Fees
The first thing driving your decision should probably be fees.
In addition Ethereum gas fees, there can be added fees set by the marketplace itself. This is the primary way that all of these marketplaces are making money.
For example, in addition to gas fees, OpenSea charges 2.5% on every transaction. (They are making a lot of money.)
View more marketplace fees here.
But Ethereum gas fees have recently reached all-time highs which essentially leaves many crypto investors and NFT artists stranded. That means that a majority of the Ethereum Mainnet market isn’t buying your NFT. The problem with that is that it occurs during some of the most opportunistic trading periods.
2.) NFT Marketplace Network & Multi-Chain Marketplaces
While OpenSea, Superarre have dominated during the initial “NFT Gold Rush,” the marketplace is changing rapidly. Innovative next-generation developments are creating a decentralized market that is expanding in every direction. While some are are fueled by investors, many are being funded by tokens with well-designed smart contracts and lower barriers to entry.
A quick search on Google will reveal tons of new marketplaces promoting low fees and more eyeballs. And for the most part, they are are telling the truth. Many of these “alt-chain” or “cross-chain” networks do not use the Ethereum network. This article is focused on helping you identify these marketplaces.
???? Freshly minted : "Cool S: Tropical Design" available at NFT Bump Marketplace on @0xPolygon (Matic) Network.#NFTArtists & #NFTCollectors can request early access to our new marketplace! https://t.co/IftfmDSLyv pic.twitter.com/L84DUEUfz1
— NFT Bump (@NFTBump) June 8, 2021
3.) NFT Marketplace Types
So there are different marketplace types. And I say “types: in the broadest sense of the word. NFT Marketplaces are expanding in every direction. That means that NFT marketplaces are being launched across different networks and the NFT business models vary greatly. From single-artist galleries like Cardano-based, SpaceBudz.io, to NFT Marketplaces backed by publicly traded companies like XSIGMA-NFT.com.
OpenSea offers NFT Art, Virtual World Property NFTs, Domain Name NFTs, and NFT Trading Cards. Well each of those NFT sub-categories has its own specialty marketplaces. NFT art subsets to Virtual World OBJ-Focused NFT Boutiques are popping up everywhere.
Some NFT Marketplaces are private. That means that sellers and/ or buyer are Invite-Only. Getting accepted to one of these private NFT marketplaces could be beneficial to your bottomline, or it could be a dead-end. Sometimes, they might even mint your NFTs for you. It’s important to ask a lot of questions, and pay close attention to the fees.
Some of the NFT Marketplaces are exclusively hosted on IPFS. This is a real game changer for the Internet as a whole, but NFTs are speeding up adoption. Basically, websites can now be server-less thanks to the InterPlanetary File System which consists of a P2P network. If you are using Brave Browser, there is an option in your settings to turn this feature on right now.
New Alt-Chain NFT Marketplaces List
The following is a list of new NFT Marketplaces that are not on the Ethereum network. Some of the best alternatives to OpenSea.
New NFT Marketplaces: OpenSea Alternatives
| New NFT Marketplace | Blockchain | Description |
|---|---|---|
| Binance Smart Chain | Airnfts is the NFT marketplace built on Binance Smart Chain focusing highly on user experience and ease of use to Create, Buy, Sell and use NFTs. It is growing quickly in popularity, and its links can be seen all over Twitter. | |
| Polygon (MATIC) | This site is really well-built and it empowers anyone to quickly launch their own NFT Storefront in a matter of minutes. NFTically is backed by blockchain developers and business executives who aim to unlock the power of proof-of-existence, proof-of-ownership & proof-of-copyright. | |
| Tezos | "The present decentralized application allows its users to manage decentralized digital assets, serving as a public smart contract infrastructure on Tezos Blockchain. IPFS OBJKTs can be minted and traded by permissionless means. such experiment was designed intending to imagine alternative crypto economies." (source: https://www.hicetnunc.xyz/) | |
| Binance Smart Chain | "Refinable is the first dedicated NFT marketplace built on Binance Smart Chain. We are looking to create an accessible environment for any user, brand, and community to engage with NFTs." (Source: https://www.linkedin.com/company/refinable/) | |
| Bitcoin | "Using the latest technology from liquid sidechain, Lightning Network, IPFS & L-SATs we replicate the exact behavior from NFT or crypto-collectibles, just using a bitcoin-focused approach." (Source: https://market.elixir.app/) | |
| Flow | Free to mint. First global marketplace on Flow blockchain. Been around for a bit, but growing in popularity. Their vision is to empower a billion people to create, trade and own the world's most valuable creations. (Source: https://www.onflow.org/post/viv3-nft-marketplace-to-empower-artists-and-creators) | |
| TRON | "FAN is a decentralized social marketplace that connects creators and their fans through NFTs... Through NFT, we now can digitalize that experience and financialize the digital merchandise / asset in the process." (source: https://fansforever.io/) -- They got Lindsey Lohan onboard! | |
| EOSIO | "AtomicAssets is a standard for Non Fungible Tokens (NFTs) on the eosio blockchain technology. Anyone can utilize the Atomic Asset standard to tokenize and create digital assets and buy, sell & auction assets utilizing the Atomic Assets marketplace." - (Source: https://eos.atomichub.io) | |
| Syscoin | "LUXY is built on the Syscoin Blockchain, making it faster, scalable, green, cheaper and accessible." - (Souce: Luxy.io) | |
| Polygon | Wise.Art has a clean design, and appears to be making a splash by auctioning off signed Kobe Bryant memorabilla. Similar to ZKIN (XSigma), Wise.Art is backed by a company (WISeKey) that is publicly traded on the NASDAQ ($WKEY). | |
| Ethereum (SIG stablecoin) | Maxim, the NY-based media company, will launch its own NFT marketplace in partnership blockchain R&D Lab, xSigma. xSigma is a subsidiary of ZK International ($ZKIN). After the partnership was announced, XSigma-NFT.com started redirecting to MaximNFT.com. |
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Interested in Building Your Own NFT Gallery
Keep an eye out for the highly-anticipated Cardano project on NFT-DAO.org. We also found a site claiming to be building the “Shopify for NFTs” at NFTIFY.Network.
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