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The 6 Best NFT Marketplaces to Sell your Art

As an artist or organization just getting into NFTs (non-fungible tokens), you might get overwhelmed by the amount of NFT art marketplaces. In this blog post, I will share an overview of the biggest marketplaces on the Ethereum blockchain.

First: the buzzwords, explained

Before we dive in, I will assume you are a total beginner and don’t know anything about the crypto world as a whole. I will, however, assume that you know what an NFT is.

Ethereum

In this post, I’ll be talking about NFT marketplaces on the Ethereum blockchain. Ethereum is the second largest cryptocurrency in existence (after the well-known Bitcoin). It is popular because it was the first cryptocurrency that allowed developers to program on it.

Gas

Like with any cryptocurrency, you need to pay a transaction fee whenever you create, move, or do anything on the blockchain. This is what we call gas. I’ll be talking about transaction fees and gas interchangeably throughout this entire blog post. When you choose a marketplace and you’re just starting out, choosing the right marketplace can be a game changer. Some of these marketplaces have implemented ways to circumvent these gas fees completely or at least to a certain degree.

Minting

Another important term I’ll use often is minting. Minting is what we call the transaction that creates the NFT on the blockchain. It is the most important step in the creation of your NFT since it takes care of the blockchain part. Now that we’ve got those terms out of the way, let’s get into the article itself.

The NFT marketplaces

I will make a comparison between two major categories of NFT marketplaces. For instance, on the one hand, you’ve got the curated marketplaces, and on the other hand, you’ve got the non-curated marketplaces.

On curated marketplaces, you need to apply as an artist and get access to sell art. On a non-curated marketplace, anyone can put up anything for sale.

Non-Curated NFT Marketplaces

Since non-curated NFT marketplaces are not curated by the company that developed them, anything is possible. You can get your art online within a few minutes. The three marketplaces I like the most are OpenSea, Rarible, and Mintable. Anyone new to NFTs can easily access these and you don’t need any verification from the website. For instance, companies like Adidas and Ubisoft have used these in the past.

OpenSea

Let’s start off with OpenSea. OpenSea is by far the most popular marketplace in the NFT space. In fact, it had the first-mover advantage and hosts some of the most popular collections like the Bored Ape Yacht Club and CryptoPunks. It has over 2M+ Collections, 80M+ Goods, and a total market volume of more than 10B+.

To start selling your art on OpenSea, you need to pay for two transactions. First, you need to initialize your account for making sell orders. Secondly, you have to allow OpenSea access to your item. You will need to do this second transaction every time you list a new item. From then on, you will only need to sign a signature request when you’re listing the item. On OpenSea, the buyer pays a 2.5% fee on every item they buy.

You can offer your NFTs either as a direct-for-sale NFT or sell them via an auction. Auctions can last up to 7 days. In OpenSea, you can set royalties up to 10%. To conclude, you can access the platform from the Ethereum Mainnet or from Polygon to get cheaper gas fees.

Rarible

Second, Rarible is an NFT marketplace and issuance platform that utilizes the RARI token to empower users who actively interact with the protocol. The platform offers users a fully-featured marketplace that is filtered and sorted using different categories to create a smooth and easy user experience. Anyone can create and post NFTs on the Rarible marketplace. In 2021 they had over 2.1 million monthly active users, over 400k+ NFTs minted, and over 273M+ in trading volume.

To start selling on Rarible you have two options. Either the seller pays for the minting or the buyer does. On Rarible, the seller and buyer both pay a 2.5% service fee.

You can offer your NFTs either as a direct-for-sale NFT or via a timed auction. In addition, you can allow bids. Auctions can last up to 7 days. In Rarible, you can set royalties up to 50%. To conclude, you can access the platform from the Ethereum Mainnet or from Flow or Tezos for cheaper gas fees.

Mintable

Third, Mintable is the third non-curated marketplace I want to highlight. This marketplace is special because it offers gasless minting! Mintable is a platform built on top of Ethereum that allows users to create, sell, distribute, buy, and trade digital items for cryptocurrencies. The platform stands out as an excellent entry platform into the NFT space. It is the perfect place to start your journey since they offer a completely gasless listing.

The best part: to start selling on Mintable you don’t even need crypto! What you do need is a wallet, of course. You can either sell using gas fees and pay a 2.5% service fee or use the gasless option and pay 5%.

Furthermore, you can offer your NFTs either as a direct-for-sale NFT or via a timed auction. In addition, you can also allow bids. Auctions can last up to 7 days. You can set royalties up to 10%. To conclude, you can access the platform from the Ethereum mainnet or from ImmutableX for cheaper gas fees.

Curated NFT Marketplaces

Let’s continue with the curated marketplaces. These are the marketplaces established digital artists almost always use to sell their art and collectible projects. Artists like Murat Pak and Beeple sell their digital ego on these.

Foundation

The fourth marketplace, Foundation is the biggest curated marketplace on the Ethereum blockchain. Companies usually opt for Foundation because of its clean UI and easy mint process. Since its launch in February 2021, creators have earned over 47k ETH on the platform.

Creators are invited to join the Foundation by members of the community. Once you’ve received an invite, you’ll need to set up a wallet with ETH before you can create an artist profile and mint an NFT — which means uploading your artwork to a decentralized peer-to-peer storage network. It will then be an NFT you can price in ETH and put up for auction or a private sale on Foundation.

When an artwork is sold on the primary market, creators receive 85% of the final sale price. If an NFT is listed and collected again on the secondary market, a 10% royalty is automatically sent to the creator who originally minted the artwork — in perpetuity.

Companies like Quick (a big fast-food chain from Belgium) have sold NFTs via this platform.

SuperRare

Fifth, SuperRare is an NFT marketplace to collect and trade unique, single-edition digital artworks. Each artwork is authentically created by an artist in the network and tokenized as a crypto-collectible digital item that you can own and trade.

You can think of SuperRare as Instagram meets Christies. A new way to interact with art, culture, and collecting on the internet. To sell on SuperRare as an artist, you need to get an invite. That’s the only way to get in.

You can offer your NFTs either as a direct-for-sale NFT or via a timed auction. In addition, you can allow bids. Auctions can last up to 7 days. Royalties are 10%. Artists receive 85% of the sale price.

On all sales, there’s a 3% marketplace fee added on top of the sale price that’s paid for by the buyer. This excludes gas fees. To conclude, you can access the platform from the Ethereum mainnet and can only use ETH to pay.

NiftyGateway

Last but certainly not least, NiftyGateway. This is the platform founded by the Winkelvoss Twins. The NiftyGateway motto is to not stop until at least 1 billion people are involved with NFTs.

Nifty Gateway teams up with top artists and brands to create collections of limited edition, high-quality NFTs, exclusively available on their platform. Each collection will be opened at a specific time (a drop) and will only be available for a limited time. You can pay with your wallet or via credit card to buy NFT drops directly.

If you sell an art piece or a collection on NiftyGateway you receive 95% of the sale price and you get a 10% royalty fee on each secondary sale. NiftyGateway innovates in the Ethereum space by enabling wallet-to-wallet NFT transfers. This reduces the fee sellers and buyers have to pay. You can gain access to the platform as a seller by applying via a form on their website.

Blog Credits: Medium

This article will give an insightful perspective on the NFT space and expose the key attributes that top NFT artists possess. It will be safe to assume these attributes are what make them stand out. First, let us delve into a brief description of fungibility.

Fungibility Explained!

Fungibility connotes the ability of the asset to be interchanged or replaced with other individual goods or assets of the same type. Fungibility implies equal value between two assets, making it easy to exchange and trade between them. So basically, fungible tokens can replace each other without a change in value.

Some major examples of fungible tokens include Commodities, common shares, options, and dollar bills.

What Are NFTS?

The term NFT is an abbreviation for Non-Fungible tokens. As the name implies, non-fungibility connotes the inability of the asset to be interchanged or replaced with other individual goods or assets of the same type. Non-Fungibility tokens are unequal in value and unique making it difficult to exchange and trade between both assets.

Major examples of Non-Fungibility include diamonds, land, or baseball cards because each unit has unique qualities that add or subtract value.

To explain better, every land of the same square meter is not the same. The value of the land also depends on location, topography, neighborhood, fertility, etc. This makes it difficult to exchange one land of the same size for the other as their value might have significant differences.

What Makes Digital Art Non-Fungible?

Several artists all over the world have made copies of Picasso’s paintings. While someone can make copies of Picasso’s paintings, the originals are impossible to replace and unique.

NFTs, like Picasso’s original art, are blockchain-based tokens that each represent a unique asset for example digital content, a piece of art, or media.

Due to the immutability of the blockchain, an NFT minted on the blockchain serves as an irrevocable digital certificate of authenticity for any asset, whether physical or digital.

As cryptographic assets on the blockchain, NFTs have distinct unique identifiers and metadata that set them apart from one another.

The proliferation of NFT Artist

NFTs have a long history as far as 2012 when Meni Rosenfield published a paper describing NFT technology as “Colored Coins.” Originally, the Bitcoin blockchain was the focus of the NFT paper.

On May 3, 2014, digital artists Kevin McCoy and Anil Dash created the first known NFT. The Quantum NFT featured a little video of McCoy’s wife Jennifer. He later sold it to Dash for $4.

The turning point for NFTs came on March 11th, 2021, when Mike Winkelmann (known as Beeple ) sold his NFT collection “The First 5000 Days” for a whopping $69.3 million (38525 ETH). The sales gave global attention to NFT arts and led to massive interest in NFTs as a store of value.

As the NFT market continues to grow, new digital artists from Web2 and other digital industries are rapidly migrating into the Web3 NFT space, making it more difficult for individual artists to stand out amid the chaos.

Why NFTs

According to CryptoArt.io, over 3.2 million pieces of artwork have been marketed for more than $2.5 billion in the last two years.

Beeple, Pak, Edward Snowden, Kevin McCoy, Whisbe, Paris Hilton, and others are among the top-selling NFT artists.

While some artists make massive sales, many other NFT artists struggle to gain traction.

Here are some key characteristics that distinguish the top earners from the rest.

1. Create a stunning website:

The validity of your project is strengthened by conventional websites that include information about your collection, your investors, and a plan. It should be appealing and vibrant. Visitors to your primary website are those who choose to make an NFT purchase. They will examine the project team and proposals. Show the public the team members and the artwork.

2. Have a Catchy Mission:

A key distinguishing feature of most popular NFT artists is their sense of mission. Beeple for example is committed to designing one NFT art per day and has consistently followed through from his days as an underground artist. The First 5000 days was a collection of his First 5000 works as an NFT artist. The Bored Ape club promoted exclusivity and class. There is other NFT artist that commits a percentage of their sales to charity or a cause. NFTs have also been an active part of several global issues like the Ukrainian war etc.

3. Create an NFT community or participate actively in one:

Art historical collectors converged in Montparnasse cafes and bars in the initial periods of contemporary art. NFT collectors now meet and form groups on social media platforms such as Twitter, Discord, and others to compare notes, criticize, and evaluate NFT arts. Building a social media community or following allows you to expand your audience while also providing much-needed authenticity and trust in these days of rekt due to increasing rug pulls.

4. Get the Pricing Right:

Include the community in the price-setting process. Either through routine surveys or public conversations. Spend some time discussing what a fair price is with your community.

5. Provide extra information and collectibles:

Every NFT artist must learn to engulf their art with a dramatic story while also adding context and exclusivity. Whether collection or art, a special and appealing narrative should accompany the work to build a sense of perspective and allure.

6. Be unique:

There is a need to etch out a distinct niche for yourself by creating artworks not solely to sell them, but also because they have deeper meanings or are in an area that you are genuinely enthusiastic about.

7. Cooperate with reliable influencers and businesses:

It’s critical to collaborate with credible crypto social media influencers and companies that have a track record of honesty and don’t encourage fraud. Select partners who support both your idea and the NFT industry as a whole.

8. Try something new like joining a Unique blockchain:

Beeples was just a 3d artist who leveraged the new blockchain smart contract technology to push his art. As the blockchain space continues to revolutionize and innovate with new use cases and goals, we are seeing a fervent following among blockchain enthusiasts. Being a committed member of a specific blockchain and committing to mint and grow on the chain has its own set of benefits as the NFT artist gets huge community support from the ecosystem community translating into huge publicity and support for his works.