Since NFTs became a thing, the hype has only gotten bigger and bigger. Newsrooms have reported pictures of apes being sold for millions of dollars. We have seen art collections going for unbelievably vast amounts of money as jpegs.
Some experts argue that NFTs are just a bubble that will eventually pop. But if current events are anything to go by, the NFT hype is here to stay. Remember the Cryptopunk NFT that was sold for $23 million in February? We certainly do.
Best NFT Marketplaces for Artists
With the lucrative nature of the NFT world, you may be looking to venture into the business as an artist. According to recent reports, the average NFT art sale value over 30 days stands at $87 million. With such numbers, it is no secret that the NFT world offers excellent opportunities for artists.
However, you may have difficulty deciding the best website you should use since there are several. First, you should note that it would be best to try out several platforms. This is because limiting your artwork to one NFT marketplace could be what decides whether your artwork sells or not. Hence, you should dive into different marketplaces.
We have compiled a list of some of the best NFT marketplaces for artists to help you make a decision.
Without a doubt, OpenSea is the most popular NFT marketplace on the Ethereum blockchain. You can think of it as similar to eBay or Amazon, with the most significant difference being that the items listed are digital collectibles.
OpenSea has several categories with artwork included. One of the reasons it is so popular and at the top of our list is because creators can mint NFTs for free using the platform’s polygon-based gas-free marketplace. Finally, the original art creator can receive a royalty payment for every secondary marketplace sale.
Mintable is another platform that functions in pretty much the same way as OpenSea. The website allows users to browse and make bids on different NFTs. Once sellers make a purchase, the NFTs are deposited in their wallets.
You should note that Mintable supports standard Ethereum but is also affiliated with Immutable X for gas-free minting. Moreover, unlike other platforms, the platform is non-exclusive, meaning there are no approved users before joining. On the negative side of things, Mintable has a relatively low activity compared to other marketplaces.
SuperRare is quite different from the platforms discussed in this review. Specifically, this marketplace is exclusive, meaning there is an approval process before acceptance.
With that said, SuperRare’s focus, as can be inferred from the name, is high-quality, single-edition NFTs. As such, only 1% of the total artists’ applications are accepted into the marketplace. Finally, the buyers pay a transaction fee that equals three percent of the sale price.
Nifty Gateway works like SuperRare, only that it is more exclusive. In fact, to be accepted on the platform, you have to be really famous. The website works with some well-known names such as Grimes, Beeple, and Steve Aoki.
Nifty Gateway charges a 5% commission on all the sales on the platform, which is relatively high compared to other platforms listed here. This specific marketplace is known for some of the most exclusive and sought-after art and collectibles.
KnowOrigin is one of the oldest NFT marketplaces on our list. It is also one of the most popular. It is known to focus on high-quality and rare NFTs, with 85% of the sale going to the creator and the remaining with the platform.
Artists can also earn 12.5% of their artwork’s secondary sales. The platform, founded in 2018, was recently acquired by eBay for an undisclosed sum. According to eBay, it is acquiring the entire company, and the founders are also joining it.
It seems like the NFT hype is here to stay. While new, this realm has many benefits for artists. The good thing is that there is a platform for everyone, whether exclusive or non-exclusive, so nothing is stopping you from turning your art into digital tokens today!
Governments are only starting to accept NFTs and crypto in general. In some regions, regulations may hinder your access to these marketplaces. In such scenarios, it would be best to get a proxy as it can hide your internet activity. IPRoyal offers state-of-the-art proxies for NFT artists. Click here for more information!