OpenSea, the world’s first and largest peer-to-peer NFT marketplace, with more than 1.5 million active users on its platform looking to mint, buy, sell and trade.
To get an idea of the volume OpenSea trades; the month of January was its busiest, trading nearly $5 billion dollars and the 9th of that same month it traded a volume of $261 million dollars.
But with OpenSea’s high fees, the ability to freeze digital assets and delist collections without warning.
It has left the community feeling undervalued, giving opportunity for competitors to launch cheaper, more decentralized, and user-friendly marketplaces.
What are the best Coinbase Alternatives?
- Coinbase NFT – Opensea alternative ideal for beginners, easy to use and community building focused.
- SuperRare – Ideal for finding new artists and artwork. Opensea NFT alternative that’s easy to navigate.
- Rarible – Ideal Opensea NFT alternative for creators, with 5-10% royalties when creators art is resold.
- Mintable – Ideal for new creators with gas-free minting. Very beginner friendly alternative to Opensea.
- Foundation – Ideal for creators, earning 10% resale royalty. Easy to navigate, differing from Opensea.
1. Coinbase NFT
Ideal for beginners, easy to use and community building focused.
Overview
With digital collectibles becoming popular and NFTs increasing in value, Coinbase NFT launched in April 2022. Selecting a few beta testers to use the platform from millions of users on the waitlist.
Then by May 2022, allowing anyone access to buy and sell NFTs with no gas or marketplace fees, for a limited time only.
When introduced, they will reportedly be kept in the single digits. Replicating the same user-friendly experience and streamlined design.
Highlights
- Discover, Trending, and Shop Features to explore NFTs from established and upcoming artists, list trending NFTs of the week, and start buying right away.
- Payments plan to include Mastercard in the future but currently only supports the Ethereum blockchain.
- Reach support in different time zones by simply filling out key information on an online form or contacting over the phone.
- No account creation, just log in with an ETH wallet, like Coinbase Wallet or MetaMask then add a profile picture, bio, and show your work.
- Social connections with Crypto and NFT influencers including Gary Vaynerchuk, Dillon Francis, Brian Armstrong and Paris Hilton.
- High-profile collections available such as Crypto Punks, Bored Ape Yacht Club (BAYC), Moonbirds, Doodles, and Azuki, and more.
Fees
Coinbase NFT fees explained: for a limited time only
No fees: No marketplace or gas fees – 0% Fees (Kept to single digits when introduced)
Bottom line
Like their crypto platform, Coinbase is beginner friendly with zero gas fees for now. Ideal for those starting out in the NFT space. Easy to use and focused on building a community, differentiating from Opensea.
2. SuperRare
Ideal for finding new artists and new release artwork. Easy to navigate.
Overview
SuperRare is a non-traditional Ethereum-based NFT marketplace, for unique items by exclusive artists. An invite only platform via artist profile submissions, until fully launched next year.
Although it’s expensive, SuperRare is for the benefit of the creators giving them 10% of all secondary sale revenue for art sold in the marketplace.
And benefiting the community by being focussed on decentralization using a DAO system to give transparent decision-making and fund distribution to artists, collectors, and curators.
Highlights
- Runs the popular Ethereum blockchain, reaching users all over the world, allowing you to transfer your NFTs across Ethereum-run marketplaces.
- No scams or fakes with smart contracts on the Ethereum blockchain for proof of ownership and signing of NFT and NFT-related transactions.
- Runs a primary and secondary market, selling your just minted NFT to collectors and NFTs can be resold continuously on the secondary market.
- Active social media presence and community to interact with other digital artists and share ideas.
- Operates on a DAO system putting the platform in the hands of the community using $RARE token for governance.
Fees
SuperRare has transparent platform fees:
- 85% of the purchase price goes to the artist for every sale.
- 15% of primary sales going to SuperRare.
- 3% tax on all purchases paid by buyers.
- 10% of secondary sales going to creators.
Bottom line
SuperRare is not overloaded with items, making it easy to navigate. An alternative to Opensea that’s ideal for finding new artists with new release artworks regularly promoted.
3. Rarible
Ideal for NFT creators with 5-10% royalties when creators art is resold.
Overview
Rarible is one of the most recognized and beginner friendly NFT marketplaces. Using a badge system for creators to authenticate NFTs for added security.
Easy to navigate by the NFTs being broken down into categories and offering numerous digital assets from art and collectibles to gaming items and more.
A marketplace adopting a decentralized focus with a DAO system using its own RARI tokens that gives the community power over matters such as policy decisions.
Highlights
- Direct messaging app lets creators and users communicate directly without limitations or restrictions.
- Lazy minting feature allowing users to create NFTs without paying any upfront gas fees.
- Rewards RARI tokens to NFT buyers/sellers which are used for governance allowing holders to vote on policies that affect the platform.
- It’s open-source and free to use, but safe from outside attacks. Plus offers OpenSea integration.
- Payment methods include credit card, debit card, or Google Pay and supports MetaMask, WalletLink, and Formatic wallets.
Fees
Rarible fees explained: (fees paid in crypto, Rarible doesn’t use fiat currency)
- Every Sale: Rarible takes 2.5% from the buyer and 2.5% from the seller
Bottom line
Rarible is ideal for users focused on making money by creating, selling or buying NFTs. Setting itself apart from Opensea with the ability to earn 5-10% royalty every time your digital asset is resold.
4. Mintable
Ideal for new creators with gas-free minting. Very beginner friendly.
Overview
Mintable is an easy to use Singapore-based NFT marketplace. Perfect starting platform in the NFT space.
Offering thousands of digital items and plenty of categories from art and collectibles to music and games. Built on top of Ethereum, allowing users to buy, sell, trade, and mint NFTs.
Mintable allows you to pay no upfront gas fees when placing assets on the marketplace, which alot of platforms require. Also supporting USD, if you prefer fiat currencies.
Highlights
- Everything in one place gives you easy and hassle-free selling on one platform. No more going from marketplace to marketplace to find what you need.
- Rarity meter and attributes filter uses machine-learning to find rare digital items. Finding what’s new and rare in the market. Easily locate rare collectibles.
- Sales analytics using blockchain data to display details of any item on the marketplace. Find out what NFTs are performing. Find out popular NFTs.
- Transaction history uses information from the blockchain to show the entire transaction history of an NFT. Find potential buyers. Find previous market prices.
- Social timeline for users to connect with each other. Build a community through engagement. Stay up to date with what’s current and popular.
Fees
Mintable fees explained: (% on sale transaction)
- Normal NFTs: 2.5%
- Gasless NFTs: 5%
- Printable NFTs: 10%
Bottom line
Mintable is very beginner friendly and ideal for creators and collectors interested in building wealth through a range of digital items. An option different to Opensea, offering gas-free minting for creators.
5. Foundation
Ideal for creators, earning from 10% resale royalty. Easy to navigate.
Overview
Foundation is a community driven NFT marketplace for buying, selling and trading digital assets. With trading volumes of $79 million and upwards. Known as the platform with the viral NFT, Nyan Cat.
An invite only marketplace for creators so you must receive an invite from a community member creator for access to the Foundation platform.
Known as a creative playground for NFT creators with a unique timed auction feature, similar to auction websites like Ebay.
Highlights
- Wallets supported are MetaMask or WalletConnect. Ether (ETH) is the currency currently used to buy and sell NFTs on Foundation.
- List your NFT in a Reserve Auction, sit back, and wait for a collector to kickstart an exciting 24 hour countdown where the highest bidder wins.
- Split NFT allows up to four beneficiaries or collaborators. For each member add percentages from primary sales and royalties they receive.
- Foundation collections are smart contracts that contain NFTs. Smart contract gives creators full control over their work and you can take the collection anywhere.
- A collection can be a self-titled show, a photo album, a mixtape, a time capsule, or a map of places you’ve created artwork and more.
Fees
Foundation fees explained:
- Artist: Initial sale – 85%
- Foundation fee: Initial sale – 15%
- Seller: Secondary sale – 85%
- Original artist: Secondary sale – 10%
- Foundation: Secondary sale – 5%
Bottom line
The last Opensea alternative is Foundation, ideal for users who want a platform that’s easy to navigate. Plus the 10% royalty for creators on the resale of their digital items may also be tempting.
What are NFT marketplaces?
NFTs or Non-Fungible Tokens are becoming popular which has seen a rise in NFT marketplaces. These platforms offer creators and collectors a way to buy, sell, and trade digital assets in a safe and secure way.
Opensea is the most recognized platform but new competitors are launching more decentralized and user-friendly options.
Wrap up
When looking for an Opensea alternatives, know not all marketplaces are the same. Here’s what questions to ask.
What type of NFTs interests you? The platform’s fees. Trade volume, if you plan to buy and sell digital goods. And the platform’s liquidity so you can buy and sell anytime you want.