NFT (non-fungible token) platforms have been teeming with a lot of digital collections from various artists and collectors. Of course, the hype will not be complete if it isn't for OpenSea, the most popular place to buy, sell, and trade the tokens.
So far, the platform managed to rake $3.25 billion in volume in just last month, per Dune Analytics. On top of that, the firm noticed that the total volume has skyrocketed to 90,968% from December 2020 to December 2021.
Despite its popularity and dominance among NFT investors, there will come a time when it would fall off because of unexpected trends or demand. This is why we will share the ideal NFT marketplaces that you need to visit just in case OpenSea unexpectedly collapses.
Here are the top five NFT marketplaces that could potentially dethrone OpenSea in the next few months.
According to a report from Cointelegraph, Rarible has been showing better performance in increasing its monthly trading volumes. Before OpenSea became a staple among NFT investors, this platform was only one of many marketplaces traders and buyers.
However, when OpenSea launched to the public, Rarible was not able to keep up with it; that's why several people switched to a new place.
This time, we would possibly see Rarible bounce bank from its mistake. Many token enthusiasts could potentially flock to it since the platform now supports Tezos and Flow blockchains.
In the future, we could conclude that it would also support Polygon and Solana since these two are progressively booming in the market. This would redeem its position as a good competitor with OpenSea for this year.
Currently, Coinbase is the closest rival that could come toe-to-toe with OpenSea. The source wrote that there were over 1.1 million users listed in the database during its waitlist process.
As more collectibles grow in value, the NFT marketplaces need to contain them to cater to the needs of prospective buyers and collectors. Coinbase NFT understands the need to connect NFTs to society.
The platform has strong ties with "Lazy Lions," "DeadFellaz," and other collections. Hopefully, we could see that Coinbase NFT will launch the P2P system. We could also anticipate its support for several blockchains.
Decentralization and the new Web3 is what Zora is known for. This NFT marketplace houses several historical transactions, including the original doge-meme NFT of PleasrDAO. Its price reached $4 million.
The platform does not only allow investors to do whatever they want on the marketplace, but also it establishes trust in the artists. This is coined because of its seamless autonomy for their pieces.
There are a lot of things to be improved in Zora, but it has the potential to beat OpenSea in 2022 if it gives what the people want to add to it.
For Solana fans, FTX is the best NFT marketplace you should visit to look for must-grab collectibles. What's interesting about this site is its bidding systems which are not present in other marketplaces.
FTX.US President Brett Harrison expects that the influx of people will go to them by not requiring gas fees to the bids. The company is excited about some price actions that will take place upon implementation.
In October, FTX NFTs said that it would now ditch projects that give the owners a bonus with regards to royalties. Still, 2022 is a perfect year for this site to change the landscape of NFT among fans.
DappRadar listed Magic Eden as the leading Solana-reliant marketplace for NFTS. The edge of Magic Eden compared to its competitors is its low transaction fee, which only sits at 2%.
Listing is also free to everyone on this platform.
In another article, The VR Soldier reported about the top 5 most traded OpenSea Metaverse NFTs.
This article is owned by Tech Times
Written by Joseph Henry