OpenSea is the largest and legal American NFT trading platform. This online non-fungible token marketplace headquarter, founded by Devin Finzer and Alex Atallah in 2017, is located in New York.
OpenSea decentralized and most accessible marketplace in the crypto art space with more than 1.5 million active users allows to buy and sell non-fungible tokens. This past January OpenSea recorded a monthly trading volume of nearly $5 billion.
In this article Baxity has compiled the comparative review of OpenSea alternatives which are the peer-to-peer marketplaces for crypto goods.
What Is OpenSea?
OpenSea is one of the most popular NFT marketplaces. The site is used by investors, collectors and just enthusiasts to buy, sell and exchange virtual collectibles and digital goods. 4 million virtual items are available on this well-known platform secured by cryptographic technology, making it the largest market in the field.
Review Of The Best Alternatives To OpenSea
Maybe you are tired of OpenSea or perhaps you are just starting to look for diversity among the NFTs marketplace? Baxity has ranked the best OpenSea alternatives, comparing the marketplaces features, their pros and cons in order to make an informed and easy decision for you. Let’s dive into the most popular OpenSea competitors and know how one differs from the other.
X2Y2
X2Y2 is a decentralized NFT marketplace on Ethereum. The mission of the platform launched in February 2022 is to solve some of the greatest issues in the current NFT marketplace infrastructure. It is dubbed as “the marketplace by the people, for the people” еspecially since X2Y2 NFT marketplace plans to break the monopoly within the industry. In its official documents X2Y2 has revealed the allocation of its 1 billion tokens as follows:
65% – staking rewards
12% – airdrop events
10% – development & team
10% – treasury
1.5% – presale
1.5% – liquidity management
| Pros | Cons |
| Instant push notifications for buys and sells | Low trust rating |
| Bulk sending and listing | Low quality of the customer service |
| Integrated rarity ranking and analysis | Domain name was registered recently |
| Bidding on a collection and/or traits | Website is available only in English |
| Pricing starts at Free |
Rarible
Rarible is the most recognizable digital marketplace in the industry having their own governance token. It is considered as an excellent site like OpenSea despite low trading volume. There is the listing fee on the platform which buyers and sellers have to pay, this amounts to 2.5%.
Keep in mind that Rarible marketplace doesn’t use fiat currency, so that fee must be paid in crypto. One of the notable features is the possibility to earn royalties on NFT, buy and resell them, making for a potential source of passive income.
| Pros | Cons |
| OpenSea integration | A new wallet creation is temporarily unavailable |
| Supports WalletLink, MetaMask and Formatic wallets | Charges a 2.5% fee on both the seller and the buyer |
| Uses RARI token for governance | It is impossible to make deposits or withdrawals without an ETH crypto wallet |
| The possibility to create NFTs | |
| Allows place your bid | |
| Payments with debit card, credit card, or Google Pay |
Mintable
Mintable is a simple NFT marketplace built on the Ethereum blockchain. It launched in 2018 and is only one year younger than OpenSea. Despite the fact that Mintable is like so many other marketplaces, the most notable highlight of this platform is the lazy minting feature allowing to mint NFTs for free. It removes the scary gas fees that prevent many new creators from entering and just starting out.
| Pros | Cons |
| Accepts credit card payments | Only one cryptocurrency accepted |
| Gasless minting | No mobile app |
| Abundant educational material | |
| Top NFT collections listed | |
| Authenticity process (the marketplace clearly labels verified collections) |
SuperRare
SuperRare NFT marketplace allows the interaction between collectors and digital artists through the platform which is user-friendly with enhanced features. In addition, SuperRare runs a primary and secondary market offering to creators the possibility to mint and sell their NFTs as well as to collectors to resell them.
| Pros | Cons |
| Runs on the most popular Ethereum blockchain | Charges a service fee on every NFT sale |
| Applies royalties to both creators and collectors | Verifies user identity for days |
| Allows single and multiple editions of an NFT | Doesn’t allow you to upload files with sizes more than 50MB |
| Is actively presented on social media |
LooksRare
LooksRare is an NFT platform designed for those looking to trade and earn rewards. It has its own cryptocurrency $LOOKS that earns users nearly 1,000% APY and allows them to bid their own chosen amounts on every single NFT as well as receive rewards simply for making exchanges.
| Pros | Cons |
| Flat 2% fee | Doesn’t allow to purchase assets with fiat money or any currencies other than $LOOKS |
| Rewards for staking the $LOOKS currency and interacting with the platform | Тhere is no way to mint the own NFTs |
| 75% of all total tokens are distributed to community members | |
| All revenue is decentralized |
KnownOrigin
KnownOrigin has been operational since April 2018 and allows users to trade in non-fungible tokens and mint rare digital art to be sold to others online. Artists can mint a new ERC721 non-fungible token, list it for sale or create an auction. In turn, art collectors purchase it or bid on the cryptoart.
The marketplace earns money through commission – artists pay 15% of a primary sale to the platform when it is first sold. KnownOrigin also collects 2.5% of all secondary transactions.
| Pros | Cons |
| Cultivate a selection of quality and exclusive digital artwork | High commissions – 15%, standard for gallery-style marketplaces |
| Artists enjoy 10% royalties on all future secondary sales of their work | ETH only |
How To Choose An OpenSea Alternative
While choosing sites like OpenSea it’s important to remember that not all marketplaces are created the same and their features can differ from each other. So we have decided to show you what to look for in an NFT marketplace as an OpenSea alternative. Maybe after considering the key factors for choosing you’ll be able to make an informed and regret-free decision and pay attention to other sites like OpenSea.
Choose The NFT Type
To choose the right NFT market, you need to answer the questions – “What type of NFT am I interested in?” “Do I give preference to digital art, music, or games?” The answer will help you decide on sites like OpenSea.
Explore Liquidity Level
It is important that the market has a lot of liquidity – whether people really buy and sell pieces of work. Compared to Bitcoin, for example, large exchanges make it very liquid, which means that you can buy and sell the coin anytime.
Although NFTs are not as liquid as digital coins, you should choose a market that offers decent liquidity anyway. Otherwise, you may run into long-term commitment between you and your NFT.
Platforms Market Volume Monitoring
The volume of the market, that is, the volume of cryptocurrency transactions between buyers and sellers, should be taken into account. Logically, a platform with a minimum transaction volume is less attractive. The same applies to digital marketplaces. If you plan to buy and sell your digital goods, you need a platform with high sales volume.
Check Interests & Fees
When using digital marketplaces, many people forget about the commissions charged by the system. And very often they receive information only during the payment process. In the meantime, we strongly advise you to do your research beforehand so that you’ll know exactly how much you are going to pay for the fees. Keep in mind that on the same platform, for example, Ethereum fees can go as high as $20 per transaction, while Binance fees can be as low as $0.20.
Get The Best Conditions In Payment Systems With Baxity Cryptoprocessing
The digital market is gaining popularity so rapidly that it is often difficult to track the launch of new products in this area. In addition to electronic crypto wallets and NFT marketplaces, in the world of digital assets, there is another indispensable and practical service for accepting cryptocurrency payments. Baxity provides a service for connecting crypto processing to the seller’s website and offers the following benefits of using it:
- The integration of cryptocurrency payments on a website with Baxity is very simple and does not require tedious negotiations and careful documentation checking.
- After implementing the cryptoprocessing service as a seller you can accept, exchange and withdraw funds, save on commission fees, and get a high speed of money transactions.
- You increase your customer base, scale your business and expand your geography thanks to the growth of sales abroad without being forced to rely on fiat money.
- You attract funds with a new industry and modern payment methods.
- You increase the competitiveness of your company.
To know how to accept payments on your market and dive dipper follow this link to Baxity.
Why Look For OpeanSea Alternatives
Of course, like many other digital service platforms, OpenSea has its cons. And often these disadvantages make you look for NFT OpenSea alternatives. What are your reasons you’re looking for another platform to sell and buy NFTs?
Better Customer Base
You are Interested in NFT marketplace like OpenSea and want to expand your customer base or reach into other countries, regions or niches.
Accepting Payment Methods Other Than Cryptocurrencies
You do not want to use cryptocurrency and prefer fiat money. This inability to pay for digital goods with fiat currency can turn off those who want to get started in the NFT marketplace like OpenSea.
Timely Customer Support
Lack of support and the ability to interact with a real person – these are the most frustrating things for many of us. When a problem arises it is important to get the assistance you need. But instead OpenSea offers some help pages.
Avoiding Market Saturation
OpenSea is a crowded marketplace because it is popular, that is why everyone goes to buy and sell their NFTs. It is better to look at alternatives to OpenSea and search for new buyers or sellers.
What Are NFT Marketplace Aggregators?
Usually, in order to sell or buy NFTs, newcomers need to explore marketplaces and possibilities, as hundreds of NFT projects are available for investment to date. Many users simply list NFTs on different platforms at the same time, but agree that it’s annoying, burdensome and expensive.
Fortunately, there are a number of NFT aggregator services that allow you to shop across multiple marketplaces using a unified interface. They gather listings from multiple marketplaces and platforms in one place. Thus, buyers can easily compare prices and purchase NFTs from various sources with a simplified interface. The two most popular aggregation platforms at the moment are: Genie.xyz, Gem.xyz.
Get Cryptocurrency In One Click With Bitnovo & Crypto Voucher
Usually, on NFT marketplaces, the sale and purchase of digital items is carried out with cryptocurrency. Naturally, for these purposes, you need a crypto wallet with the appropriate finance on the balance. We offer a more convenient way to buy crypto. Just in one click pay for Bitnovo Coupon or Crypto Voucher, get the code to your email, redeem it on the official websites and get the cryptocurrency you want on your wallet address securely, quickly and anonymously. Read more about Bitnovo or Crypto Voucher.
Bottom Line
It’s clear that OpenSea isn’t the only digital marketplace in the NFT industry. There are plenty of OpenSea competitors available and we must start using them for many reasons listed above. In this article, we’ve presented you with viable alternatives to OpenSea where you can create your own and also start trading on them or purchase valuable or rare items.
Frequently Asked Questions
What Are The Reasons To Look For An OpenSea Alternative?
- You want to use both crypto and fiat money.
- You are interested in other marketplaces with innovation and bonus.
- You are looking for new buyers or customers.
- You want to get qualified assistance from customer support.
- You are searching the marketplaces with low prices.
What To Look For When Choosing An OpenSea Alternative?
The key factors for choosing an other sites like OpenSea are as follow:
- NFT type and interests
- marketplace liquidity level
- platforms market volume
- fees
How Do I Choose A Good OpenSea Alternative?
For choosing a good OpenSea alternatives we recommend to:
- explore the NFT market;
- check out the best OpenSea competitors;
- monitor market volume;
- identify their key functions and benefits.
