PRESS RELEASE. Leading Crypto comparison site, Cryptowisser have just announced their NFT marketplace list. The list details the current marketplaces that NFT Artists, collectors and traders can list, sell and buy non-fungible tokens on. With the recent hype and surge in the NFT space, different NFT niches are emerging and with those niches comes the need for somewhere to sell and buy them, enter NFT marketplaces.
Market leaders emerge
According to the report, there are currently thirty active NFT marketplaces selling digital art and collectibles, from CyrptoPunks to NBA highlight reels. Current industry leaders and first off the start line OpenSea, reported over $80 million in transactions in March 2021 alone. Their strongest competitors – Rarible were neck and neck till the new year with over $25 million in transactions in March 2021.
The NBA have taken an active interest in the NFT space and partnered with Dapper labs (responsible for Cryptokitties) to capitalize on the up and coming digital sports collectible market with NBA topshots. With backing from one of the biggest sport franchises in the US, the NBA brings NFTs to more than the crypto community. A testament to the NFT future, the NBA topshots marketplace has generated over $700 million in sales already.
What creates a good marketplace?
The Cryptowisser report helps users look at holistic snapshots of the marketplaces against each other. Both buyers and sellers can instantly see the different Marketplaces’ commission, payment options, supporting blockchain(s), age of the company, user scores and NFT categories.
From an artist’s perspective, it is important to list your work on a platform that can get your work out to the most people at the best rate. Which is why companies like OpenSea have incentivised artists by introducing “free minting” for artists and the company charges a minor 2.5% commission as you can see on the OpenSea review. The cost of an NFT sale varies greatly from the NFT marketplaces, ranging from 2% – 15%. The commission can depend greatly on the type of NFT. While a low commission may seem to make more sense things like exposure and accessibility can weigh in as well, giving the marketplaces several avenues of competition.
In a bid to appeal to the greater market as opposed to just the crypto world, marketplaces have expanded not only on the type of blockchain they support, but also to universal payment methods. Companies like Makersplace (selling pieces from esteemed artists like Yura Miron, Silvio Veira, Dmitri Cherniak, Dreamonaut and Frenetik Void) accept both major credit cards and paypal.
Future of NFT marketplaces
As NFTs become more mainstream, so will their marketplaces. With household names like the NBA in full support, more will follow. (The MLB is in talks with Dapper labs for a potential Baseball top shot sibling). Even mainstream artists like Diplo are reportedly selling NFTs, casting an even wider net onto the potential market.
As with any industry, a marketplace is crucial. You can expect to see more partnerships between traditional industry tycoons and the crypto world, more available NFTs and more marketplaces establishing themselves in their fields. Cryptowisser will continue to have the most up to date and detailed NFT marketplace list.
Cryptowisser is a cryptocurrency services comparison site with the world’s largest, most frequently updated and most trusted lists of cryptocurrency exchanges, wallets, debit cards, merchants and NFT marketplaces. With more than 1,000 reviews of the various exchanges, debit cards, wallets, merchants and NFT marketplaces, they help you make all of your purchasing decisions and service choices in the crypto world.
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