Crypto art includes all artistic manifestations on Web3 that require crypto to be purchased. Usually, they manifest as NFTs and require an NFT marketplace and a crypto wallet to be bought.
If you’re starting as a crypto artist and want to stand out, you might be wondering, what’s the best NFT platform for selling crypto art? Before we analyze the available options, let’s learn how NFT marketplaces work:
What is an NFT?
NFT stands for non-fungible token. An NFT is a digital asset in the tamper-free ledger known as Blockchain, the underlying technology that makes anything Web3-related possible.
Blockchain allows users to verify transaction history and the minting of NFTs purchased in NFT marketplaces.
Its high-security protocols and smart contracts also provide NFTs and NFT marketplaces with more functionality than any other digital asset.
What is an NFT marketplace?
NFT marketplaces are online bazaars where NFT traders, creators, buyers, and sellers all come together to exchange their digital assets.
There are two main types of NFT marketplace: streamlined marketplaces and augmented marketplaces.
A streamlined marketplace is the most general marketplace, offering NFTs of nearly all types and aimed at a broad audience of NFT traders. These are the best NFT marketplaces for new NFT traders, as they usually offer the most intuitive user experience and user interface.
For example, OpenSea, Rarible, and Mintable are streamlined marketplaces.
An augmented marketplace offers a specialized service in exchange for a limited array of NFTs.
They might provide a more tailored service than streamlined marketplaces, such as offering just one category of NFTs, or they might focus on a traditional service much more than them.
Most Metaverse games and NFT videogames also feature an augmented marketplace of their own, which only allows for the trading of NFTs relevant within the game.
OpenSea is a pioneer NFT marketplace and colloquially known as the ‘Amazon of NFTs’ because it is the biggest NFT marketplace and features the most comprehensive collection of NFTs.
OpenSea is popular because it allows for lazy minting, the option of paying gas fees for your minted NFTs after a user purchases the NFT. Essentially, this deducts the gas fee from the sold NFT.
OpenSea is one of the few marketplaces that offer multi-chain compatibility. It allows compatibility with Ethereum, Polygon & Solana NFTs and accepts payment for over 150 cryptocurrencies.
Finally, OpenSea integrates with MoonPay, a platform that allows for purchasing NFTs with fiat currency using debit and credit cards.
These traits make OpenSea a good choice for selling crypto art if you’re starting in crypto.
Similar to OpenSea, Rarible is a streamlined marketplace that features a user-friendly interface and
Binance NFT is cryptocurrency exchange giant Binance’s native NFT marketplace. It features low minting fees and direct integration with Binance and the Binance Mobile App. Binance has a flat 1% trading fee for NFT sellers and creators.
Thanks to its integration with Binance’s platform, Binance NFT allows for quick fiat cash out, which is more efficient than other streamlined marketplaces that aren’t directly linked with a crypto exchange. You can deposit from the ETH and BSC Networks.
SuperRare is an augmented NFT marketplace on the Ethereum blockchain, with an invite-only protocol that markets itself as an “Instagram meets Christie’s” NFT marketplace.
Crypto artists can join SuperRare by submitting their profile on the form on their website, and all transactions offer the seller an 85% of their original sale, with a 10% royalty rate on secondary sales.
Nifty Gateway is a crypto art auction platform for NFTs, famous for selling NFTs for significant NFT artists such as Beeple and Pak. It even partnered with auction house Sotheby’s in 2021. Being invited to Nifty Gateway is a privilege among NFT artists, and it’s an example of an augmented NFT marketplace.
Foundation is the prime example of an augmented NFT marketplace. Its purpose is to build a creative economy on the Ethereum blockchain where creators can develop direct connections with their supporters.
Foundation set the bar higher than streamlined marketplaces, as they were an invite-only marketplace. They only want the best creators, services, and NFT projects.
Final words about the best NFT platform for selling crypto art
The truth is that there’s no one best NFT platform for selling crypto art. Each NFT marketplace has its pros and cons and its target audience.
If you’re starting as an NFT trader, you might want to check out OpenSea and Rarible for their ease of use. Binance NFT is a good option if you also wish for lower fees and easier integration with cryptocurrency exchanges.
On the other hand, if you’re more experienced as a crypto art seller, you might prefer using Foundation or even applying for the invite-only NFT marketplaces.
Sebastian is a wordsmith and B2B SaaS article writer & scriptwriter for podcasts, channels and social media and Blogs He also writes for finance, entertainment and motivational clients. In his spare time, you can find him coming up with ways to improve his mental health.
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Last modified on June 27th, 2023 at 3:21 pm