[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]OpenSea[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]It is one of the leaders in the NFT market, with over 2 million collectibles and over 20 billion transactions (over 7 billion in 2022 alone).[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]OpenSea divides its collections into several categories: art (everything from profile pictures of social media accounts to abstract works), domain names (names like handsome. ETH , which can be linked to blockchain addresses), and music.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]OpenSea is now deployed on Ethereum, Polygon, Klaytn and Solana blockchains and supports cryptocurrency payments and credit card purchases.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The main selling point of OpenSea is that it is the first and largest NFT marketplace, so it relies on the number of users to incentivize NFT listings. The idea is that the best way to market a new series is to make it visible on the platform with the largest audience.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]So if most collectibles are working hard to become verified collectibles on OpenSea, it's natural for collectors to pay attention to new collectibles that come online.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]In line with this strategy, Opensea is attempting to cement its position as the largest exchange marketplace by migrating to the Solana chain, which is home to the second largest NFT community in cryptocurrency. [/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]opensea like nft marketplace[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]A big problem with OpenSea is the cost of interacting with its smart contracts. For a long time, it was one of the largest consumers of ETH gas fees.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]This lures users with better overall trading terms for competitors and triggered an update to their protocol, called Seaport. Released in June 2022, this new set of smart contracts consumes 38% less gas than the previous version, making it cheaper to place orders and buy.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]X2Y2[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 is an NFT trading marketplace on the Ethereum blockchain. Launched in early 2022, its motto is to be a platform for users, for users. It is a leader in transaction volume, and its success is due in part to its rewards program, which gives users a share of the native token X2Y2.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Since its launch, it has rewarded users for buying and selling NFTs. It transfers transaction fees to holders who decide to stake platform tokens on the platform. Note that this also creates problems with wash trading (explained below).[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 is also one of the most versatile platforms overall.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 focuses on the shopping experience of users, buyers, and provides them with different additional purchase options, such as setting optional royalty values. This feature enables buyers to decide whether to pay royalties to the creator of a collectible, potentially purchasing the item at a cheaper price. X2Y2 aggressively markets its fees as the lowest in the market, even running a 0% transaction fee campaign.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 has significant wash trading volume due to rewards for trading on the platform, with users flipping NFTs back and forth between accounts and farm incentives. This means that many transactions are not real, making it difficult for beginners to assess the market value and demand for certain NFT collections.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Nor has X2Y2 shown any initiative to overtake Ethereum, replicating its model in a less crowded environment.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Looks Rare[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]LooksRare launched in early 2022 as the community's first NFT marketplace and actively rewards traders, collectors and creators for their participation. With this in mind, it launched a "7-day window airdrop " of LOOK tokens to eligible OpenSea users to attract them to trade on this new platform.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]It implements a rewards program where users who buy or sell NFTs on LooksRare earn LOOKS tokens. Transaction fees (2% of sales) from the platform are then earned by LOOKS stakers. Additionally, creators also receive their royalties when sales are made.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The developers of LooksRare do not rely on previous material (e.g. from Opensea) to write their smart contracts. As such, they can be customized using a modular system to introduce new features over time.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Some of the now-standard features of the NFT marketplace debuted on LooksRare.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Collectible Offers: Make offers covering all NFTs in the selected collection[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Trait Offer: Buy any NFT in the collection that has a specific trait[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Multiple Cancellation: Cancel multiple open orders in one transaction[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]And continue to have dedicated unique features, such as conditional pending orders , users can list two NFTs, and if one of them is sold, the other will be automatically removed from the market and cannot be purchased.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]
disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]LooksRare could not gain more popularity after distributing LOOKS tokens to former OpenSea users during the initial launch phase. It remains solely focused on the Ethereum blockchain, offering a niche approach for more sophisticated traders. Like X2Y2, LooksRare is also facing wash trading issues, hopefully not a problem for the platform itself (since it charges transaction fees), but it makes users suspicious of liquidity and floor price data.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Magic Eden[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Launched in September 2021, Magic Eden quickly became the leading NFT marketplace on Solana.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Since its dominance on Solana, Magic Eden has also begun to expand to Ethereum. Currently, users can mint collectibles on their launchpad and pay with ETH even when the collectibles are deployed on Solana. It also started enabling minting on Ethereum.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The missing piece for cross-chain functionality is for Solana users to buy ETH NFTs paid with SOL. This will unlock the possibility for the Magic Eden community to purchase these NFTs natively from the Solana blockchain.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Magic Eden has several very unique features. This includes launchpad that allows users to create NFTs in minutes without requiring extensive NFT knowledge or development experience. The marketplace also helps market featured projects on its launchpad.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Another unique feature that can only be found on Magic Eden is whitelist management. Magic Eden supports the upcoming curated list and provides software management for its whitelisting process.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]
disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Magic Eden is the dominant platform on Solana (accounting for over 80% of on-chain NFT transactions) and doesn't have any real competition yet. However, Magic Eden lacks a user experience that really differentiates it from other platforms on Ethereum.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]to develop your Own[/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]NFT Marketplace[/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif] here[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]It is one of the leaders in the NFT market, with over 2 million collectibles and over 20 billion transactions (over 7 billion in 2022 alone).[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]OpenSea divides its collections into several categories: art (everything from profile pictures of social media accounts to abstract works), domain names (names like handsome. ETH , which can be linked to blockchain addresses), and music.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]OpenSea is now deployed on Ethereum, Polygon, Klaytn and Solana blockchains and supports cryptocurrency payments and credit card purchases.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The main selling point of OpenSea is that it is the first and largest NFT marketplace, so it relies on the number of users to incentivize NFT listings. The idea is that the best way to market a new series is to make it visible on the platform with the largest audience.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]So if most collectibles are working hard to become verified collectibles on OpenSea, it's natural for collectors to pay attention to new collectibles that come online.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]In line with this strategy, Opensea is attempting to cement its position as the largest exchange marketplace by migrating to the Solana chain, which is home to the second largest NFT community in cryptocurrency. [/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]opensea like nft marketplace[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]A big problem with OpenSea is the cost of interacting with its smart contracts. For a long time, it was one of the largest consumers of ETH gas fees.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]This lures users with better overall trading terms for competitors and triggered an update to their protocol, called Seaport. Released in June 2022, this new set of smart contracts consumes 38% less gas than the previous version, making it cheaper to place orders and buy.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]X2Y2[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 is an NFT trading marketplace on the Ethereum blockchain. Launched in early 2022, its motto is to be a platform for users, for users. It is a leader in transaction volume, and its success is due in part to its rewards program, which gives users a share of the native token X2Y2.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Since its launch, it has rewarded users for buying and selling NFTs. It transfers transaction fees to holders who decide to stake platform tokens on the platform. Note that this also creates problems with wash trading (explained below).[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 is also one of the most versatile platforms overall.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 focuses on the shopping experience of users, buyers, and provides them with different additional purchase options, such as setting optional royalty values. This feature enables buyers to decide whether to pay royalties to the creator of a collectible, potentially purchasing the item at a cheaper price. X2Y2 aggressively markets its fees as the lowest in the market, even running a 0% transaction fee campaign.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]X2Y2 has significant wash trading volume due to rewards for trading on the platform, with users flipping NFTs back and forth between accounts and farm incentives. This means that many transactions are not real, making it difficult for beginners to assess the market value and demand for certain NFT collections.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Nor has X2Y2 shown any initiative to overtake Ethereum, replicating its model in a less crowded environment.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Looks Rare[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]LooksRare launched in early 2022 as the community's first NFT marketplace and actively rewards traders, collectors and creators for their participation. With this in mind, it launched a "7-day window airdrop " of LOOK tokens to eligible OpenSea users to attract them to trade on this new platform.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]It implements a rewards program where users who buy or sell NFTs on LooksRare earn LOOKS tokens. Transaction fees (2% of sales) from the platform are then earned by LOOKS stakers. Additionally, creators also receive their royalties when sales are made.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The developers of LooksRare do not rely on previous material (e.g. from Opensea) to write their smart contracts. As such, they can be customized using a modular system to introduce new features over time.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Some of the now-standard features of the NFT marketplace debuted on LooksRare.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Collectible Offers: Make offers covering all NFTs in the selected collection[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Trait Offer: Buy any NFT in the collection that has a specific trait[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Multiple Cancellation: Cancel multiple open orders in one transaction[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]And continue to have dedicated unique features, such as conditional pending orders , users can list two NFTs, and if one of them is sold, the other will be automatically removed from the market and cannot be purchased.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]
disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]LooksRare could not gain more popularity after distributing LOOKS tokens to former OpenSea users during the initial launch phase. It remains solely focused on the Ethereum blockchain, offering a niche approach for more sophisticated traders. Like X2Y2, LooksRare is also facing wash trading issues, hopefully not a problem for the platform itself (since it charges transaction fees), but it makes users suspicious of liquidity and floor price data.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Magic Eden[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Launched in September 2021, Magic Eden quickly became the leading NFT marketplace on Solana.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Since its dominance on Solana, Magic Eden has also begun to expand to Ethereum. Currently, users can mint collectibles on their launchpad and pay with ETH even when the collectibles are deployed on Solana. It also started enabling minting on Ethereum.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]The missing piece for cross-chain functionality is for Solana users to buy ETH NFTs paid with SOL. This will unlock the possibility for the Magic Eden community to purchase these NFTs natively from the Solana blockchain.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]Advantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Magic Eden has several very unique features. This includes launchpad that allows users to create NFTs in minutes without requiring extensive NFT knowledge or development experience. The marketplace also helps market featured projects on its launchpad.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Another unique feature that can only be found on Magic Eden is whitelist management. Magic Eden supports the upcoming curated list and provides software management for its whitelisting process.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif][b]
disadvantage[/font][/b]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]Magic Eden is the dominant platform on Solana (accounting for over 80% of on-chain NFT transactions) and doesn't have any real competition yet. However, Magic Eden lacks a user experience that really differentiates it from other platforms on Ethereum.[/font]
[font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]to develop your Own[/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif]NFT Marketplace[/font][font=Oxygen, "Lucida Grande", "Trebuchet MS", Verdana, Helvetica, Arial, sans-serif] here[/font]