NFT marketplaces are a profitable way to share your art and make money from it as a digital creator. The aggregated number of sales value over a month in the art sector alone amounted to about $87m. However, the success of your NFTs is also largely dependent on the marketplace you choose. This is because there are different marketplaces for different art types. So we recommend exploring several types before deciding on the right fit for you.
In this post, we’ve compiled a list of the best NFT marketplaces you can explore as a creator. While some are more established, others are more exclusive. Some thrive in their communities. Keep reading to find marketplace options you’d be minting on.
If you’re familiar with cryptocurrency, you’d know how Binance is a regulated and established trading platform. That’s how Opensea is in the NFT sphere. Being the most popular and widely used marketplace, this is a great place to sell your non-fungible tokens. Here, there are many categories to ensure buyers find you faster. They range from art, collectibles, domains, virtual lands and so much more.
What we love about this marketplace is that it’s easy to create an account and setup. You also don’t require any sort of membership, review, or verification process. Once you open an account, you can mint your NFT and start selling immediately. It also doesn’t require a lot of cognitive load to use over time.
The only downside to this platform is its gas fees. Gas fees are the initial fees you pay when setting up your account. They are usually two types – the first is when you’re initializing your account. This ensures that you can list items and sell them directly on Opensea. The second type of gas fee is only when you mint your NFT through a smart contract instead of Opensea. However, if you do pay these gas fees, you don’t have to pay any subsequent fees to sell or mint on the platform.
Whether you’re minting individual works or collections, this is a marketplace you can consider if you don’t want to mint on Opensea. Rarible deals with NFT in categories like art, photography, music, memes, games, and domains but to mention a few. It’s a community-owned marketplace like Opensea – which means anyone can mint and sell NFTs. If you list a token on Rarible, it’s automatically added to Opensea.
The only major difference between these two marketplaces is that there’s a 5% transaction fee on any item you sell on Rarible. Ideally, you split this 5% between yourself and your buyer. However, many sellers volunteer to pay the entire 5% to make the NFT attractive in the marketplace. While Rarible has its cryptocurrency called Rari, it supports ETH, Flow, and Tezos blockchain.
Looking to mint your digital art? Foundation is an NFT marketplace that focuses on helping digital creators and collectors find a platform. During their launch, they placed an open call for creators to manipulate the value of creative work. Since they refer to themselves as the new creative economy, this is a very specialized marketplace.
What we love about this platform is that as a seller or artist, you can still make money when your collector re-sells the NFT. You’d receive 10% of the sales value every time a collector resells the art to someone else at a higher price.
However, Foundation is an invite-only marketplace. So, to mint or list your NFT, someone with an already published work has to invite you. This makes it a very exclusive network.
As the name implies, SuperRare is a very competitive marketplace. Unlike Opensea and Rarible, this platform only accepts a small number of hand-picked artists. Only about 1% of applications are approved so you have to really know your stuff. This is because they focus on dealing with high-quality single-edition art NFTs.
However, if you do get in, the platform charges about 15% commission fees for each sale along with transaction fees. However, the buyer takes care of the transaction fee. It might seem like a lot, but the exclusivity grants you the opportunity to sell your NFT at a very high price. Another perk of minting on the SuperRare platform is that you have access to a community of other artists you can network with.
Quite similar to OpenSea and Rarible, Mintable is another marketplace option for artists interested in non-exclusive platforms. So you don’t have to go through any verification or approvals to list your work on the platform. What we love about this marketplace is that, unlike Opensea, you don’t need any first-time or gas fees. What this means is that as a seller, minting an item is completely free.
This is possible because Mintable integrates with Immutable X, a Blockchain that allows gas-free minting. The platform also supports Ethereum like other marketplaces. The only downside to listing your item here is that compared to other marketplaces, there’s not a lot of activity here. So it might take longer for a buyer to notice your NFTs.
6. Nifty Gateway
Nifty Gateway is a very high-end marketplace since they work with famous artists and host collaborations with celebrities. This makes it hard to get into their curated collections. Similar to Rarible, there’s a vetting and approval process – the good thing is that it’s less strict.
This platform charges 5% commission fees per sale which makes it cheaper than the conventional NFT marketplaces that charge roughly 15%. As an artist, you can set your royalties for secondary sales. So, when someone purchases your NFT from a buyer, you’d get your cut.
If you don’t like the concept of leaving your work for a long time, you can explore the open editions which allow you to mint editions of your work for a very limited time. Another thing we love about this platform is that they handle all of the technical stuff when creating and selling your NFTs. They also host all the NFT they acquire. So rather than storing the NFTs you buy or sell in a wallet, they are stored in your Nifty account.
7. Known Origin
This is one of the oldest NFT platforms and it’s exclusive because it focuses on only high-quality art. However, once you get past the approval process, you earn 85% of your sale. This is because like most NFT marketplace, on Known Origin you have to remit 15% as commission fees. What we love about this platform is that you can also earn royalty from any secondary sales. So if your buyer chooses to re-sell your work, you get 12.5% from it.
These marketplaces listed above are hosted on the Ethereum blockchain because most of the popular chains are sold here. So it’ll be convenient to mint and sell your work on any of these platforms. Now do you prefer exclusive networks or would you rather list yours on open networks? Let us know your preference in the comments below.
We hope this article has been helpful. Do share this post with other creators that’ll make a profit from listing their artwork as an NFT.