June 15, 2023

What are the top NFT marketplaces?

Read our guide to choosing an NFT marketplace and blockchain when getting started with NFTs.

Fraser Bell

MintStars is a great option for creators and fans looking to explore NFTs. However, there are a plethora of NFT marketplaces and platforms out there, so determining where to start can be daunting.

Given that NFTs exist on the blockchain (as discussed in our previous article on "What is an NFT"), creators must select platforms that cater to their specific needs, while collectors can generally trade NFTs across various platforms.

In this article, we will examine the top 5 NFT marketplaces, identify the best overall platform, and highlight the most beginner-friendly marketplace. This guide is designed to assist both seasoned collectors and newcomers in navigating the rapidly expanding world of digital art and collectibles.

Numerous NFT platforms have emerged in the industry, including OpenSea, Blur, OpenSea Pro (formerly Gem), LooksRare, Foundation, SuperRare, Rarible, Nifty Gateway, and more.

Before delving into the individual platforms, let’s first take a look at the most popular blockchains for NFTs and the platforms that support them.

The top blockchains for your NFT

Undoubtedly, the Ethereum blockchain stands as the most prominent platform for NFTs, with NFTs achieving a collective trading volume exceeding $1 billion during April of this year.

Source: CryptoSlam

Ethereum, Polygon, Mythos, and ImmutableX are blockchains that utilise similar technology (EVM), making it easy to transition between them once you learn how to use one.

In contrast, Solana is a distinct blockchain known for its rapid transactions and low fees, with popular platforms such as Tensor and Magic Eden operating on it.

Whether you are a creator or collector, selecting the most active chains is a wise decision. With this in mind, opting for EVM-based blockchains is the best way to cater to a larger audience of traders and collectors.

OpenSea, the most popular NFT marketplace, supports Ethereum, Polygon, and numerous other popular EVM blockchains. In contrast, Blur, the second most widely used NFT marketplace, currently supports only Ethereum. High fees on Ethereum may discourage many collectors from utilising this particular chain. As a result, Polygon appears to be a more attractive option for creators intending to release multiple NFTs. To ensure the best experience for both content creators and their fans, MintStars has selected the Polygon blockchain for its NFT platform.

The top NFT marketplaces

As mentioned previously, there are multiple NFT marketplaces and it can be overwhelming to choose between them. Most popular NFT marketplaces reside on Ethereum.

Top NFT marketplaces by unique users. Source: @Sealaunch on Dune Analytics

Although numerous platforms cater to specific niches, such as Foundation and SuperRare, the most popular platforms in terms of unique users are OpenSea, Blur, and OpenSea Pro (which essentially serves as an NFT Marketplace aggregator, showcasing NFTs across multiple platforms).

However, given OpenSea's large user base, it appears to be an excellent choice for both creators and collectors who want to reach the widest audience.

One advantage of MintStars is its use of Polygon, a blockchain supported by OpenSea. This enables fans and collectors to trade their favourite content creators' NFTs on the platform, while still ensuring that creators receive their royalties from the sale of their digital content.

As of now, MintStars is in its Beta phase and creator invites are sent weekly. If you're a creator that wants to push interactions with your community to the next level and earn more from your content, register to join here.

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