The NFT marketplace saw transaction volume exceed $862 million in January 2021, an 85% increase over December. In addition, the number of major NFT marketplaces grew to 40, according to Footprint Analytics.
As digital collectibles become more popular, so does the NFT marketplace.
As the number of NFT marketplaces grows, we recommend which marketplaces are the best, and compare their features.
- 1 What you can do on the NFT Marketplace (Exchange)
- 2 Key Points for Selecting an NFT Marketplace (Exchange)
- 3 Recommended Marketplaces (Exchanges) and Their Features!
- 4 Recommended marketplaces (exchanges) and their features! 【in Japan】
- 5 Summary of the NFT Marketplace (Exchange)
What you can do on the NFT Marketplace (Exchange)
The following is a list of what you can do on the NFT Marketplace
- Create and list NFTs
- Sell or buy NFTs
- Resell NFTs
Creating and Listing NFTs
The NFT Marketplace allows users to create an account, upload and list NFTs.
Sell and buy NFTs you have created and displayed
Of course, you can also sell or buy NFTs that you have created and listed on the marketplace.
The NFT Marketplace offers this functionality, and you can even earn a profit by selling your work.
There are two ways to purchase NFTs
- Purchase at a fixed price
- Auction-style purchase
Selling (reselling) purchased NFTs
Purchased NFT can also be resold on secondary marketplaces.
For example, you can sell NFT works purchased on OpenSea to another marketplace such as Rariable.
Key Points for Selecting an NFT Marketplace (Exchange)
The following is a summary of points to consider when choosing an NFT marketplace.
- How much commission fees are charged
- What genre of business do they specialize in?
- Is it trustworthy?
How Much Commission Fees are Charged
The first is to choose by commission.
Fees vary from marketplace to marketplace, but are generally around 2-3%.
What Genre of Business Do They Specialize in?
Each marketplace has a different product category, so check to see what kind of products they specialize in.
- Art Collections
- Game items
and so on.
Is it a trustworthy marketplace?
NFT marketplaces require a highly secure environment to protect not only the buyer but also the creator.
Examples include advanced encryption of some personal information and the requirement for identity verification and the provision of insurance on transactions to prevent fraud.
Recommended Marketplaces (Exchanges) and Their Features!
This page is about recommended overseas marketplaces.
Each of them will be explained in detail.
OpenSea, a large market
Among the many NFT marketplaces, OpenSea is one of the huge marketplaces with a long history since 2017.
This platform has the largest number of registered creators, and many people say that if they are new to NFT, they register first.
OpenSea supports a wide variety of file formats, including images, video, 3D, and other types of physical or non-physical assets.
While the first contract will charge a substantial gas fee, there is no gas fee to pay for every NFT you create after the second.
In addition, the low commission rates are attractive compared to other pricing systems, with OpenSea’s commission rate being 2.5% of sales.
On the downside, there are too many registered creators, resulting in less engagement with NFT listings.
The platform allows collectors to search for NFTs by keyword, but sellers need to be found from millions of listings.
Overall, if you can promote your work on social media, OpenSea is a recommended marketplace as a first choice.
Rarible, which gives you the right to be involved in the operation
Although its history is shorter than OpenSea, Rarible is one of the most reliable and large NFT marketplaces after 2020.
Creators can create NFTs with Rarible’s original tokens, “RARI” and ERC721.
Supported format types include image, video, and audio.
Rarible features its own token, RARI.
This can be used not only to sell or buy NFTs on the platform, but also to suggest or vote on suggested improvements, moderate community members, curate artwork for features, and promote members by suggesting community and art grants.
It functions as a kind of “equity” and allows users to participate in platform management.
As with OpenSea, each time a piece of artwork is sold, the user must pay the gas fee required for the initial contract, as well as individual creation and listing fees.
However, starting in late 2021, Rariable is offering artists a “gasless-minting” service so they can create without gas fees for the first time only; Rariable’s fee is 2.5%, the same as the other platforms.
SuperRare specializes in digital artwork
SuperRare is an exclusive NFT platform operated by PIXURA Inc since 2018.
In the early days of NFT it was an accessible and open platform, but as the NFT culture became more and more widespread, it has recently become a more exclusive and closed community.
As a result, today you need to submit your profile and portfolio to apply for a creator invitation.
To add to the hassle, you must also submit a one-minute application video to capture your self-introduction. Applications are not always reviewed within a month or two of submission, but often take even longer.
SuperRare charges a 3% transaction fee to the buyer and a 15% fee per NFT sale to the creator; JPEG, PNG, GIF, and MP4 are supported.
Recommended marketplaces (exchanges) and their features! 【in Japan】
Here are some of our favorite Japanese marketplaces!
- Adam by GMO
- NFT studio
- Coin check NFT
Let us explain each of them in detail.
Adam by GMO, which supports Japanese yen
Adam by GMO was started by GMO Adam Corporation, a consolidated subsidiary of GMO Financial Holdings, Inc. of the GMO Group.
Adam by GMO’s vision is to realize payment and distribution of digital content with a high level of authenticity and security.
In addition to payment by Ethereum, Adam by GMO offers a variety of payment methods, including direct deposit and credit card payment, making it easier and more convenient to use than conventional NFT marketplaces.
A royalty system has also been introduced.
NFTStudio, which accepts credit card payments
In March 2021, CryptoGames released NFT Studio.
This platform allows artists to create NFTs in Ethereum and Polygon for cryptocurrency.
Like Nanaxa, NFTStudio includes the ability for artists to participate in the price of secondary sales.
Coincheck NFT (beta version), which allows users to exchange transactions with each other.
In March 2021, Coincheck, operator of one of the largest cryptocurrency exchanges in Japan, launched the NFT market.
Currently, the only NFTs listed on the market are from CryptoSpells and TheSandbox. More NFTs will be listed in the future.
The company manages 2 million active users and hundreds of billions in crypto assets. Therefore, Coincheck is an important partner for content providers and a gateway to the Japanese market for other countries projects.
HABET (beta version) with 0 yen NFT issuance fee
HABET, a new NFT service by FORO Corporation, is pleased to announce the beta release of HABET, an NFT marketplace for digital trading cards, in the summer of 2021.
In order to purchase cards, you must register for a HABET account (free of charge).
Once you have registered the required personal information and a valid credit card on the user information screen in the settings, you will be able to purchase cards on display.
Summary of the NFT Marketplace (Exchange)
This is a summary of this article.
NFT marketplaces allow you to create, list, sell, buy, and resell NFTs.
Recommended Japanese marketplaces include Adam by GMO and CoincheckNFT.
Globally, OpenSea, Rariable, and SuperRare are recommended.
Please read this article carefully and try to list or sell your products on the NFT marketplace.