NFT marketplaces have been buzzing with lots of digital collections from different collectors and artists. The hype is never complete without OpenSea, which has grown to become the most popular place to sell, buy, and trade these nonfungible tokens.
So far, the platform managed to gain $3.25 billion in volume in the past month, as published by Dune Analytics. Furthermore, the company noted that the total volume has exploded to 90,968% from December 2020 to December 2021.
Despite its dominance and popularity among the NFT investors, there comes a time when it might fall off due to unexpected trends and demand. Here are some of the top NFT marketplaces that might dethrone OpenSea in the coming months.
Rarible
NFTs are cryptographic assets that are stored on a blockchain with unique identification metadata that distinguishes them from one another. Based on previous reports, Rarible appears to be recording better performances in increasing its monthly trading volumes. Before OpenSea became the most popular NFT marketplace among investors, the platform was just one of the many NFT marketplaces for buyers and traders.
Nonetheless, when OpenSea launched to the public, Rarible failed to keep up with it; that is the reason why many people preferred to go to a new place. This time around, Rarible may bounce back from its mistake. Most token enthusiasts might flock to the platform because it now supports Flow and Tezos blockchains.
In the coming months, the platform might also support Solana and Polygon since the two NFT marketplaces are continuously booming in the market. That may redeem its position as a great competitor with OpenSea for 2022.
Coinbase NFT
Today, Coinbase appears to be the closest rival that may come toe-to-toe with OpenSea. Reliable sources state that there were more than 1.1 million users listed in the database in the waitlist process.
As more collectibles increase in their value, the NFT marketplaces have to contain them to cater to the needs of prospective investors, buyers, and collectors. Coinbase NFT understands all these needs to connect NFTs to society.
This platform has massive links with “Lazy Lions,” “DeadFellaz,” and several other collections. Notably, we may see that Coinbase NFT will soon launch the P2P system. We can also expect to see the platform supporting many other blockchains.
Zora
Zora is known for decentralization and the new Web3. The NFT marketplace hosts many historical transactions like the original doge-meme NFT of PleasrDAO. Its price surged to reach $4 million.
This platform does not just allow the investors to do everything that they like on the marketplace, but also it establishes trust in the artists. That is coined due to its seamless autonomy for their pieces.
Many things need to be improved in Zora. However, it has the potential to beat OpenSea in 2022 if it offers what the users want to add to it.
FTX NFT
For all the Solana fans, FTX is the best NFT marketplace that one needs to visit to look for the must-grab collectibles. The interesting fact about this marketplace is that it has bidding networks that are not available in the other NFT marketplaces.
FTX.US President Brett Harrison said that he expects that the influx of users will go to them since they do not charge any gas fees on the bids. The firm is excited about some price actions that will happen upon implementation.
In October 2021, FTX NFT stated that it would shun projects that give owners a bonus concerning royalties. But, 2022 is an ideal year for the site to change the general landscape of NFT among the fans.
Magic Eden
Previously, DappRadar listed Magic Eden as the top Solana-reliant NFT marketplace. The edge of this marketplace compared to its competitors is its low transaction fee which is a mere 2%. Furthermore, the listing is free for everyone that wishes to use this platform.
