Which NFT marketplace is right for you?

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OpenSea vs Rarible:

If you are interested in creating and selling NFTs, buying NFTs, or buying and reselling NFTs, the OpenSea and Rarible marketplaces are two great places to go. Although the two platforms have similar offerings, they also differ in many ways.

OpenSea is a larger marketplace (it supports 150+ tokens) and has been in business longer than Rarible (Rarible was founded in 2020). Also, the platform supports more crypto wallets and offers cross-blockchain support for Ethereum, Polygon, and Klatyn, so it might be a better fit for NFT creators and buyers who want more flexibility.

Rarible also offers three blockchain options — Ethereum, Tezos, and Flow — for NFT creators and buyers, but it’s a better platform for NFT creators as it charges up to 50% in royalty on each NFT (unlike OpenSeas 10 % rate) offers resold.

fees

2.5% (no service fee for buyers)

fees

2.5% (no service fee for buyers)

advantages

  • No gas fees for NFT creators until users buy the product
  • Large selection of NFT collectibles and products
  • Hundreds of payment options (OpenSea accepts cryptocurrencies)
  • Buyers can make secondary sales and original NFT creators can earn up to 10% in royalties

disadvantage

  • Limited Customer Support
  • 10% royalties are low compared to other platforms like Rarible that offer up to 50%

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  • Promotion: Currently none.

advantages

  • Simple user interface (can display numerous Rarible NFTs and filter by blockchain, NFT category and more)
  • The NFT creation/embossing process does not take long
  • Multiple community-driven features aimed at simplifying marketplace interactions
  • NFT sellers can earn royalties from the tokens they create

disadvantage

  • 2.5% transaction fee may be high for some

Read our review
Read our review A long arrow pointing to the right

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  • Promotion: Currently none.

OpenSea and Rarible features and account products also vary.

Is OpenSea right for you?

Founded in 2017, the OpenSea NFT Marketplace creates a platform for NFT creators to mint (or create) NFTs to sell to buyers. And if you are a buyer, you have both options to buy or buy and resell the NFTs you have collected.

When it comes to blockchains, OpenSea offers cross-chain support for Ethereum, Polygon and Klatyn. Also, the platform supports more than 150 tokens, including Uniswap and WHALE. As types of NFTs, OpenSea offers art, collectibles, domain names, music, photography, sports, trading cards, utilities and virtual worlds.

And the NFT platform also offers a unique embossing process. You can list your NFTs on the marketplace without paying upfront gas costs, and they won’t be “minted” until the first purchase is made. This could save creators money since they would not have to pay fees until their art is sold.

Like most NFT platforms, OpenSea also offers creator licensing fees. In other words, you also make money when your NFTs are resold in the secondary market; That means if someone who buys an NFT decides to resell it, you make money back from it. OpenSea currently offers up to 10%.

Read our OpenSea review »

Is Rarible right for you?

Like OpenSea, Rarible connects NFT developers with buyers who want access to a variety of NFT categories. Rarible currently features art, photography, games, metaverse, music domains, decentralized finance, memes and more. The platform also supports a total of three blockchains: Ethereum, Tezos and Flow.

But the minting process on Rarible is not as convenient for NFT creators as OpenSea’s. With Rarible, you have to mint your NFT before it even sells on the marketplace. Therefore, you are responsible for upfront minting fees whether or not your NFT sells. With OpenSea you don’t have to pay gas fees until your NFT is sold.

However, Rarible offers developers much more earning opportunities through licensing fees than OpenSea. You can earn up to 50% in royalties if someone resells your NFT in the secondary market. OpenSea only offers up to 10% in license fees.

The company also supports multiple crypto wallets including MetaMask, Rainbow, Coinbase, Fortmatic, Portis and more.

Read our Rarible review »

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