Non-fungible tokens (NFTs) are taking center stage, and they’re changing the way we think about assets, investments, art, and rare collectibles. People will be able to purchase these one-of-a-kind digital creations in specialized NFT marketplaces in 2022.
NFT transactions are typically made in cryptocurrency, and some A-list celebrities have become fans. While Eminem and Justin Bieber have just released their NFTs, premium fashion labels such as Gucci, Balenciaga, and Louis Vuitton have all gotten in on the action with their digital art initiatives.
In this blog we will walk you through the top 6 NFT marketplaces that could beat OpenSea in 2022.
Top NFT Marketplaces in 2022: A Complete List
Here’s a list of the top NFT marketplaces that can beat OpenSea in 2022.
This platform, as one of the newest arrivals to the NFT world, piques the curiosity of potential traders. SpaceSeven is a multi-blockchain non-fungible token (NFT) exchange. Based on Concordium smart contracts and the enterprise blockchain platform, SpaceSeven delivers 10x faster transaction speeds with low and predictable gas fees. ‘Universes,’ which give distinct experiences through exclusive tailored galleries, are just a few of the game-changing features available on the marketplace.
Concordium is unique among blockchains in that it is created with an identity layer built-in at the protocol level, allowing it to interface with existing financial systems that require user IDs. This will help NFT acceptance in the mass market by allowing transactions with both crypto tokens and standard payment methods like credit cards.
Concordium blockchain enables full regulatory compliance, governance, and transparency, as well as strong transaction security. SpaceSeven remains secure thanks to Concordium’s two-layered consensus design, even if thieves steal less than half of its investment. The platform uses a tried-and-true technique to ensure that the protocols are scientifically sound and that the software is free of faults. Furthermore, it is based on the proof-of-stake model, which is considerably more long-term than the proof-of-work approach.
BakerySwap is an all-in-one DeFi platform that offers solutions for AMM DEX and NFT Marketplace. Users can trade tokens, give liquidity, stake and farm BAKE tokens, play DeFi world games for prizes, construct NFT combos, play creative games for NFT tokens, and learn about new creators through weekly interviews.
Another unique aspect of BakerySwap is the Launchpad, which gives users access to newly launched Binance Smart Chain projects (BSC). The NFT gallery is a part of BakerySwap’s NFT marketplace that allows users and fans to view curated artwork from celebrities and top artists displayed on BakerySwap.
Overall, the platform features a lot of gamification aspects and a distinct creative environment, which has enabled this food-themed initiative to swiftly establish itself in the DeFi ecosystem. BakerySwap passed the 500,000 NFT transaction threshold in June.
Rare items such as the Maye Musk collection, the ONEPIECE, and Marvel collector NFTs were also featured. Users will benefit from additional features like multi-coin payment, enhanced filtering and searching, and the ability to create their own collections as part of the ongoing update to NFT Marketplace 3.0.
3. Axie Infinity
Although Axie Infinity is not the largest NFT marketplace by trading volume, it is the most popular, with over 44,000 unique user accounts. People looking for alternate ways to generate money during the COVID-19 outbreak have flocked to the platform in droves. The play-to-earn (P2E) concept used by Axie Infinity is unusual.
This new trend has generated a lot of buzz and has the potential to become the next big thing in the NFT business. Because owning gaming characters (Axies) is relatively costly, the platform features a common practice known as the scholarship system. This strategy gives a possibility for NFT owners to earn passive revenue.
Axie NFTs can be borrowed from player guilds such as YGG, Avocado Guild, and GuildFi, with a revenue share structure in place. It is estimated that they have between 1,000 and 6,000 scholars. Axie generates $1.5 billion in annual sales, with a market cap of $3 billion and a fully diluted market cap of $30 billion, according to approximate estimates. The excitement surrounding the Metaverse has boosted its popularity.
Furthermore, Axie Infinity is popular in Southeast Asia, especially in the Philippines and Vietnam. A crypto-powered digital economy is powered by this metaverse game in areas where banking services are scarce and expensive.
4. Eden’s Magic
It is the most popular marketplace on Solana, with 350K daily visitors. These are also traders who are quite active. In the last 30 days, the NFT marketplace has seen about 2 million transactions. The SOL blockchain is the fastest-growing crypto ecosystem right now. In just a few months, its trade volume increased by 1,168 percent.
November 18 marked a high of more than 50,000 SOLA, or $7.5 million, for the 24-hour trading volume. As a result, the platform now has a market share of more than 50% on Solana. A cheaper price per gallon makes the marketplace more attractive to consumers than other NFT behemoths.
The users are mostly collectors who prefer lower-cost NFTs and faster trading. Magic Eden users spend an average of $96.50 per transaction, but OpenSea users spend an average of $1,872 per transaction. It’s no surprise that Magic Eden has 2-3 times the daily transaction volume of the industry leader. Magic Eden customers transact roughly 6 times per day on average, compared to 2 times per day on OpenSea, thanks to the abundance of low-cost NFT products and low gas fees.
Rarible is one of the first NFT marketplaces, and it continues to have an impact on the crypto world. It provides a variety of NFTs to buy and sell, making minting and trading easier for users. Rarible is also noted for its user-friendly interface for creating NFT art. It, like OpenSea, is built on the Ethereum blockchain technology, but the main distinction is that in order to conduct transactions, one must utilize the RARI token, which is its own token.
Rarible has worked with a number of top businesses who have launched their NFTs in this marketplace while focusing on offering a smooth and safe crypto investing and transaction experience. Taco Bell and Adobe, the cloud software giant, have partnered with Rarible to safeguard the works of NFT artists and producers. The marketplace just finished a fundraising round of around US$14 million.
What was criticized at first for being far-fetched and predicated on the metaverse is now regarded as a game changer in the crypto industry. Community members own these plots in perpetuity, and transactions may be made using MANA, Decentraland’s crypto asset. Decentraland’s marketplace, which is based on the Ethereum blockchain, provides a fundamentally different experience than existing NFT trading platforms by bridging the gap between the real and virtual worlds. Users can acquire lands, houses, and almost any other digital object that can be purchased in real life.
NFTICALLY: A Competitive Solution to Start Your NFT Journey
The NFT sector is growing exponentially and with that a lot of NFT marketplaces have emerged to rule. Gaming to arts – NFT marketplaces are what lets you leverage the growing potential of NFTs. However, to start your journey securely, always opt for a feature-packed, competitive NFT marketplace or solutions.
NFTICALLY can be exactly what you are looking for. It provides a compact solution to – enable NFTs in your PDF, video, audio, images, tweets, and whatnot! Its complete end-to-end solution to launch your own branded NFT and NFT marketplace not only helps you get started in the NFT world, but also makes you stand out from the crowd.
Not only this, NFTICALLY offers industry-grade, dedicated solutions for diverse sectors, individuals and domains such as, enterprises, celebrities, artists, influencers, gamers, events, and communities. With NFTICALLY, everything gets simplified – minting to bidding.
Wondering how to start? Sign up today and create your first NFT through a few button clicks!