Best OpenSea Alternatives
For more than two years, the non-fungible tokens (NFTs) market has been dominated by one digital token exchange - OpenSea. However, it has not been a perfect website for users. In mid-2012, OpenSea came under fire over stolen NFTs. The platform was riddled with bugs that crypto scammers could exploit. In one case, a Bored Ape NFT that was supposedly listed for sale on OpenSea for $1 million surprisingly sold for around $300,000 without the prior agreement of the seller.
Following OpenSea’s inconsistency in maintaining user trust for the safety and security of its marketplace, there has been an increasing search for better alternatives. If you are one of the searchers, we congratulate you on arriving at our blog. In this post, we are sure that you will find a better NFT marketplace from our collection of the best OpenSea alternatives.
What is OpenSea?
OpenSea is an NFT marketplace where people can browse, buy, and sell digital art and crypto collectibles. It was established in 2017 in New York City, New York, United States of America. The vision of the company is to see that Ethereum and other open protocols enable the existence of new and vibrant economies. And it is getting high-quality support from industry leaders such as the Y Combinator venture capitalist, the Coinbase exchange, and Trust Wallet.
The main task of OpenSea is to continuously provide tools with which platform users can freely launch and trade digital items. Now it is arguably the largest NFT marketplace in the world. That is because it has more than 2 million collections, over 80 million NFTs, a trading volume of more than US$20 billion, and more than 200 employees.
Reasons to Consider an OpenSea Alternative
Aside from the platform security problem mentioned in the introduction of this article, which OpenSea is believed to be working to improve, there are other reasons to consider switching to any of its competitors. They are as follows:
OpenSea’s weak support
It is comforting to know that you can get in touch with someone when an issue develops and receive the help you require to complete a transaction or digital process. Sadly, many cryptocurrency platforms and exchanges do not provide support via phone. Calling OpenSea's support staff is not an option at its help centre.
Although there are some basic support pages on its website, having a live interaction with a member of OpenSea’s support team will be more enticing. The company can improve in this area.
Your desire to stand out
OpenSea seems to be where everyone, including every Tom, Dick, and Harry, goes to buy and sell their NFTs. Market saturation and a desire to stand out from the crowd could make you want to use a different NFT marketplace. Therefore, using an OpenSea alternative marketplace or competitor might be a fantastic option for you if you are a shopper looking for something unique or a vendor in search of special customers.
Expanding your customer base
It goes without saying that OpenSea is an excellent platform to sell your NFTs. But there are lots of other marketplaces you might be interested in joining to expand your customer base. Also, consider an OpenSea alternative when you want to branch out into new markets in specialised niches and certain geographical locations.
Best Alternatives to OpenSea
After a comparative analysis of 10 leading OpenSea alternative marketplaces, we concluded that there are a few of the best ones to consider among the competitors. If you are looking for transaction security, high platform quality, and other innovative solutions, choose from among the following:
Rarible
Rarible is a digital marketplace for minting, buying, and selling NFTs on several blockchains. Fortunately, it is integrated with the OpenSea marketplace so that users of both services can easily manage their NFTs across them. The platform is accessible online via its website or mobile apps for Android and iOS devices.
OpenSea was founded in 2020, and its headquarters is in Wilmington, Delaware, United States of America. Today, it has about 1.3 million users and various NFT collections, which include photographs, memes, games, the Pixel Vault, and Punks.
The Rarible NFT marketplace supports multiple blockchains. They include Ethereum, Solana, Polygon, Flow, and Tezos. Any Ethereum wallet with some ETH can be used to make payments on this platform. For example, Coinbase Wallet.
In terms of what you should expect to pay for using this platform, there are network fees for the blockchain and transaction fees that vary according to network congestion levels. Nevertheless, Rarible charges a 1% fee from every buyer and seller for every transaction.
Also note that fiat card payments are supported on select items, unlike OpenSea which does not support them at all. Meanwhile, it also helps to get a crypto card for your convenience.
SuperRare
If you are looking for a platform that emphatically looks for only the best and highest-quality digital creations, then the SuperRare NFT marketplace is your best alternative to OpenSea. It is an Ethereum-based platform that was founded in 2018 in Newark, Delaware, United States.
What sets SuperRare apart from other OpenSea competitors is the amount of time it spends reviewing the creative work it receives before offering it for sale. This is to ensure excellent quality and maintain a high level of confidence in its services.
There are not so many users on SuperRare due to its emphasis on quality rather than quantity. Since premium-quality products do not come cheap, SuperRare charges a 15% fee on the first item a user sells on its marketplace and then 3% on subsequent transactions. The transaction fee is paid by the buyer. And the only supported payment method is an Ethereum wallet with ETH.
Nifty Gateway
Nifty Gateway is an NFT marketplace that was established in 2018 and acquired by Gemini in 2019. Unlike other OpenSea competitors, Nifty Gateway is a custodial platform. It stores the NFTs in its secure wallet, which is technologically supported by Gemini.
The payment options supported on the Nifty Gateway platform are unlike what most OpenSea alternatives offer. Nifty Gateway allows its users to make payments using debit cards, credit cards, the Gemini Balance, and other cards for crypto enthusiasts with prepaid Ether (ETH).
In addition, the users of Nifty Gateway do not pay gas fees because it is a custodial platform that does not have to process transactions on the blockchain.
Foundation
Foundation is an NFT marketplace that focuses on digital art and enables the creation of strong relationships between creators, collectors, and crypto natives. This company was founded in 2021.
Users have no trouble buying and selling NFTs on Foundation. It has a trading volume of more than US$79 million. Besides, NFTs can be bought via auction bidding on this platform. It supports Torus and MetaMask wallets.
All artists are eligible for 85% of the initial sale price on the Foundation's primary market. As a service fee, the platform deducts and retains a 15% service fee. The original artist receives 10% of the proceeds from the secondary sale of an NFT, while the Foundation receives the remaining 5%.
Joining the Foundation NFT marketplace used to be by invitation. However, that has changed. It is no longer invite-only. The platform is now available for anyone to create, sell, and buy NFTs.
How to Choose an NFT Marketplace
When you want to choose an NFT marketplace or digital platform, there are certain factors that you must consider. We outline them below.
Your interests
Knowing what type of NFT you are interested in will help you decide which of the OpenSea alternatives you should be using. The good news is that there are many options. Do you want digital art, games, or music? Be sure to identify the one that matches your interests when narrowing down your options for the right NFT marketplace.
Blockchain support
The variety of blockchain networks supported by the NFT marketplace you want to choose as an alternative to OpenSea is also worth putting into consideration. The reason is that you need to avoid using a platform that is based on a blockchain that you cannot afford or that may not be familiar to your community of followers.
The market volume
You should look at the trading volume of the NFT marketplace before choosing it. Would you choose a platform with a high volume of transactions between buyers and sellers over one with a low volume? Digital marketplaces are no different. You require a platform with a large volume of users if you intend to purchase and sell your digital items.
Marketplace fees
Most online marketplaces charge for the services they provide, and you should check this. Make sure that the fees associated with your preferred NFT platform are those that you are comfortable paying. Bear in mind that what one platform calls 'transaction fees' may be something different on another platform. So try to understand the cost of using a platform before you sign up.
Liquidity level
As with market volume, you should look for a platform that is highly liquid. This will allow you to buy and sell your digital assets at any time. Although NFTs are not as liquid as digital coins, if you choose a market that does not offer sufficient liquidity, you may find yourself with a long-term commitment to your NFTs.
Top Online Payment Solutions for NFTs and Crypto
Making payments on NFT marketplaces requires the use of certain supported services. While it is important to find out the accepted payment methods on your preferred NFT marketplace or OpenSea alternative, below are the top digital wallets and online services to use for NFTs and crypto.
Crypto.com
The DeFi Wallet of Crypto.com is an ideal non-custodial tool to use for your payments on supported NFT marketplaces. It is available for download on the App Store and Google Play Store for iOS and Android devices, respectively.
This wallet offers great returns and flexible terms, including rebates on more than 25 popular cryptocurrencies and stablecoins. Also, it supports NFTs in multiple formats and across various blockchain networks, including Ethereum.
Binance
The official digital wallet of the Binance crypto exchange is the Binance Wallet. It offers access to the BNB Smart Chain, BNB Beacon Chain, and Ethereum networks.
With the Binance Wallet, you can securely store all your digital assets in one place. Besides, it does not matter whether you want to mint, buy, or sell NFTs; this digital tool can connect you to thousands of blockchain networks.
Choise.com
Those interested in having a multi-crypto wallet should consider using the Choise.com Wallet. This digital tool is compatible with both desktop and mobile devices.
Choise.com designed its crypto wallet to support more than 30 coins, which include popularly traded ones like Bitcoin, Ethereum, Ripple, CHO (its native cryptocurrency), and Dash. Also, you can use it to buy, sell, and manage your NFTs.
Gemini
The Gemini Wallet is a safe and secure tool for all listed assets on the Gemini crypto exchange. It is backed by industry-leading engineering solutions for excellent customer experience and network usage.
Aside from supporting more than 130 cryptocurrencies, the Gemini Wallet also enables its users to access, store, and manage NFTs on the Nifty Gateway. Moreover, you can use your debit or credit card for NFT transactions.
Coinbase
The Coinbase Wallet is the official e-wallet of the Coinbase crypto exchange. However, you do not need to have a Coinbase account to use it. This tool gives every crypto-friendly person full control over their private keys, being that it is a self-custodial wallet. In addition, it integrates with other NFT-enabled wallets, including MetaMask and Trust Wallet. So, you can use your Coinbase Wallet to do a lot with NFTs—browsing, buying, selling, and managing them.
FAQ
An NFT marketplace is a digital platform where people can buy and sell non-fungible tokens using cryptocurrency or fiat money as the medium of exchange. It also refers to a website integrated with one or more popular blockchain networks, such as Ethereum and Solana, so that its users can mint NFTs and exchange digital art and crypto collectibles.
There are more than 50 NFT marketplaces in the world. Popular examples of them are OpenSea, Rarible, SuperRare, Nifty Gateway, Decentraland, Foundation, AtomicMarket, BakerySwap, KnownOrigin, Mintable, Magic Eden, Portion, Zora, and Hyperspace.
OpenSea is the most used NFT marketplace. It is a decentralised exchange that supports Ethereum, Solana, Polygon, and Arbitrum blockchain networks, thereby allowing people to achieve a lot with their creational, artistic, digital, and entrepreneurial abilities.
The best platforms for selling NFT art include some of the top NFT marketplaces, especially Rarible, SuperRare, Nifty Gateway, and Foundation; and crypto exchanges, especially Crypto.com, Binance, Coinbase, Choise.com, and Kraken.
Conclusion
We have made it clear in this article that there are other NFT marketplaces that are suitable alternatives to OpenSea. So there is a digital marketplace for you to satisfy your desire for digital art and crypto collectables. Now that we have shown you the best platforms to choose from, we strongly recommend that you review your goals for trading or investing in NFTs and choose a favourable replacement from the options we have provided.
