23 NFT Secondary Marketplaces To Trade Your Digital Assets

6 min readSep 20, 2022

Blockchain marketplaces are perfect for trading Digital assets and NFTs, as they offer secure and transparent platforms for buying and selling assets. There are dozens of NFT marketplaces, many of which have a specific focus or niche. In this article, we discuss what factors should you consider before deciding which one to use, and what are the best NFT marketplaces available.

What is an NFT Secondary Marketplace?

Secondary Market, commonly referred to as Secondary or NFT marketplace, is any third-party marketplace where NFTs are listed for sale after minting from site or contract. NFT marketplaces are primarily used or marketed for flipping and short-term investments.

Many of these marketplaces host a wide range of digital assets, and are completely free to sign up and browse their extensive offerings. Many marketplaces also have a simple process for creating your own NFT (known as “minting”) as an artist or creator.

What is an NFT Marketplace Aggregator?

NFT aggregators compile listings from various marketplaces and platforms into a single location. This provides buyers with a streamlined interface for comparing prices and acquiring NFTs from various sources.

Gem.xyz: an NFT marketplace aggregator built on Ethereum, that allows users to buy NFTs from multiple marketplaces simultaneously, including Opensea, Rarible, Larva Labs, and LooksRare.
Hyperspace: an all-in-one NFT platform built on Solana. Hyperspace serves as an aggregator, marketplace, wallet tracker, launch pad and much more.
Coral Cube: is another NFT marketplace aggregator built on Solana rather than Ethereum.

Multichain NFT Marketplaces

These are marketplaces that are built on a specific chain (such as Ethereum), but also support digital assets to be traded using multiple cryptocurrencies.

Opensea: this is the first ever and currently largest decentralized NFT marketplace built on the Ethereum blockchain.Although built on Ethereum, it currently offers tokens based on 4 blockchains namely; Ethereum, Klaytn, Polygon, Solana. This platform is open to all, and charges a 2.5 percent commission on sales, and allows creators to set a royalty of up to 10% to be paid on resale.
Rarible: This is another Ethereum-based platform that facilitates the creation, sale, and purchase of ownership rights to digital works of art via non-fungible tokens.Rarible currently supports 5 blockchains, namely; Ethereum, Polygon, Solana, Flow and Tezos, and are planning to integrate more in the near future. Rarible is open to all, and charges a 2.5 percent commission on sales. Rarible allows creators to set a royalty of up to 50% to be paid on resale. These are targeted more at unique art collectors and long-term investments.

Ethereum-Based Marketplaces

Seeing as Ethereum was the first major blockchain-based cryptocurrency to recognize the blockchain’s enormous power and potential, not just for financial transactions, it is unsurprising that it houses the majority of decentralized marketplaces. Below are some of the most popular Ethereum based secondary marketplaces:

Foundation: This is a curated platform, and creators must apply; a 15% commission is charged on primary sales, while the creator gets 85 percent of the whole sale revenue.
LooksRare: is an Ethereum-based NFT marketplace where users can buy and sell NFTs to earn rewards in the form of LOOKS, the native utility token. On all NFT sales, the platform charges a standard 2% sales fee.
Nifty Gateway: This platform is curated and creators must apply; commission on secondary sales is 5% + $0.30.
SuperRare: The platform is curated, therefore, creators must apply. It takes a 15% commission on primary sales and a 10% royalty on secondary sales.
Known Origin: This is an artist-driven platform that makes it easy for digital creators to authenticate, showcase and sell their artwork & collectables. The platform is curated, and creators must apply.
Makers Place: The platform is curated, and creators must apply. It takes a 15% commission + an additional 2.9 percent commission if paid by credit card on primary sales, and a 10% royalty on secondary sales.
Mintable: is another Ethereum-based marketplace that is best for creators due to its easy-to-use minting process, educational resources, and price slabs ranging 2.5%, 5% and 10% for normal items.

Solana Based Marketplaces

Solana is the world’s fastest blockchain and the fastest growing crypto ecosystem, with manyof projects spanning DeFi, NFTs, etc. Below are some of the most popular Solana-based marketplaces

Magic Eden: This is the most popular NFT marketplace on the Solana blockchain. They recently announced their plans to upgrade to Multi-chain, and will be integrating Ethereum-based tokens. There is no listing fee on Magic Eden; so you only pay for gas. The buyer is charged a 2% commission fee as well as a variable royalty fee to the creator.
Solanart: The original and most popular NFT marketplace on Sol is Solanart. Sellers pay a 0.02 percent listing fee, and once a sale is completed, buyers pay a 3 percent commission and the creator pays a variable royalty fee.
Solsea: the first marketplace in which creators can embed copyright licenses directly on NFTs It accepts USDC, USDT, and FTX-Pay in addition to Sol. SolSea has no listing fees; you only pay for gas. The buyer is charged a 3% commission fee as well as a variable royalty fee to the creator.
Digital Eyes: is a relatively new but popular entrant. Buyers can have more confidence in verified projects because Digital Eyes provides verification. There is a listing fee of.001 Sol for sellers. Buyers pay a 2.5 percent commission and a variable royalty fee to the creator.

Other NFT and Digital Collectable Marketplaces

The above are just a few of the most widely used Web 3 marketplaces, there are many others that are built on other blockchains such as Random Earth which is built on Terra, Cryptocurrency exchange marketplaces, and Web 3 projects-based marketplaces.

Cryptocurrency Exchange Marketplaces

In the race to become the most widely used and renowned exchanges, many of the top cryptocurrency exchanges have also developed their NFT marketplaces marketplace and integrated it along with the vast majority of the services they offer. The most popular of which include:

Binance NFT: powered by the Binance Blockchain Infrastructure, this exchange currently allows NFTs to be traded in 3 cryptocurrencies namely; BNB, Ether(ETH), and BUSD.
Coinbase NFT: this exchange currently allows users to buy NFTs either with Ether (ETH) or USD.
FTX Marketplace: Built on the Solana blockchain, the FTX marketplace is available to users of the exchange that are based in the United States. Their NFTs that are traded using USD, Solana, and Ethereum on the marketplace.

Web 3 Projects-Based Marketplaces

Many well-known Web3 and blockchain based projects are building their own personalized marketplaces, where users can buy or mint their local tokens and use them to buy digital assets that are created by these projects. Some popular project-based marketplaces include:

Theta Drop: Theta is a platform designed for the internet’s decentralized distribution of video and television. The World Poker Tour was an early adopter of ThetaTV, which it now uses to stream content. To participate in Theta’s NFT marketplace, you must first acquire Theta Token. Theta is supported by a number of crypto exchanges, including Binance, and the tokens and NFTs purchased with them can be stored in a crypto wallet as well as Theta’s own crypto wallet app.
Larva Labs: is best known for the CryptoPunks NFT project, which went viral. The NFTs are sold out, but they can still be bid on and purchased through third-party marketplaces. Larva Labs is also working on other projects such as Autoglyphs and Meebits.
Axie Marketplace: Axie Marketplace is the online store for Axie Infinity, a video game. Axies are mythical creatures that can be purchased and trained in order to gain rewards. As NFTs, players can purchase new Axies, lands and other items for use in the game.
NBA Top Shot: is the National Basketball Association’s first foray into the world of NFTs. Collectible moments (video clips and play highlights) and art can be purchased on its marketplace. The NBA created it as a closed marketplace using Dapper Labs’ Flow blockchain.

Takeaway

In conclusion, the above are just some of the most well-known blockchain-based marketplaces to trade digital assets and NFT, many more are emerging daily. Before you choose any platform make sure you check out its review and perform your research. Happy Trading!.

Originally published at http://retrocanvasdesign.wordpress.com on September 20, 2022.