Race To The Top: OpenSea vs Rarible vs Mintable

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Technology has taken over almost every aspect of our life and even art. As strange as it might seem, the NFT marketplaces like OpenSea, Rarible, Mintable are becoming artists’ first choice. Artists around the world are creating, minting, and selling out their creations on these platforms and earning hefty profits. These NFT marketplaces are popular worldwide, thus providing creators to enhance their reach and find the right buyers.

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However, with so much buzz going around these NFT marketplaces, it’s not that easy for new content creators or artists to find the right platform to showcase their digital art and find buyers. To ease their struggle, we created this post and compared the top three NFT marketplace — Rarible vs Opensea vs Mintable. We have done a complete analysis in Rarible vs Opensea vs Mintable post so that readers can make well-informed decisions.

If you are looking for the answer to Rarible vs Opensea vs Mintable — which is the best NFT marketplace, then keep reading this.

Before jumping to the comparison, let’s understand the NFT marketplace.

What’s NFT Marketplace?

NFT marketplace is a platform where non-fungible tokens (NFTs) are bought and sold. What’s NFT? These are digital tokens that have a unique and verifiable value. What sets them apart from any other digital token that ever existed is, they can’t be altered and swapped. Although, NFTs can change owners and are popularly used in buying and selling digital assets over the NFT marketplace.

OpenSea, Rarible, and Mintable are an NFT marketplace where digital assets can be minted, displayed, stored, and traded. These platforms are similar to eCommerce websites like Amazon, where consumer goods are sold in layman’s terms.

For someone interested in buying, selling, or investing in these digital assets over the NFT marketplace will need the following things:

1. Digital Wallet: eWallets are a must if you wish to buy or sell NFTs on these digital platforms. Your digital wallet must be compatible with the platform you wish to buy NFTs. For example, if the NFT marketplace supports Ethereum blockchain, the eWallet must also support the Ethereum blockchain.
2. Digital Coins In Wallet: Whenever listing, buying, or selling anything on these digital platforms, you need digital funds in your wallet. You need to keep in mind that the platform, wallet, and currency all support each other.
3. User Account: Users need to create a user account of the NFT marketplace they intend to purchase NFTs from.
4. Whether you are planning to use OpenSea, Mintable, or Rarible, all of the above are the prerequisite to buying or selling NFTs on these marketplaces. But the real question is which popular NFT marketplace platform you should choose:

• OpenSea
• Rarible
• Mintable

Well, after thorough research and deep analysis of this popular NFT marketplace, we have come to a conclusion. But first, let’s have a closer look at each NFT marketplace.

OpenSea

OpenSea was launched in 2018 and is an NFT marketplace aggregator with a variety of NFTs to choose from. Developed on NFT technology, the platform makes it easy for users to trade, buy and sell rare digital assets with the security of the Ethereum blockchain. The NFT platform is a decentralized P2P marketplace with over 200 categories of digital assets.

OpenSea is the ideal NFT marketplace for anyone who is looking to buy or invest in popular NFT projects such as Cryptopunks, Cryptokitties, and others. The NFT marketplace allows digital artists to showcase their digital assets on a global scale without owning the assets. One major highlight of the platform is that it only takes 2.5% commission of the NFTs price.

Rarible

Rarible was founded in 2020 by Alex Salnikov and his partner Alexei Falin in Moscow. It is an emerging NFT marketplace with a perfect blend of Decentralized Autonomous Organization (DAO) marketplace and NFT technology. In addition to this, the digital platform is the first to launch governance tokens like RARI into the NFT world. The platform uses ERC-20, ERC-1155, and ERC-721 tokens to allow digital artists, meme makers, and content creators to create and sell NFTs.

Ethereum blockchain security and smart contacts make it easy for digital artists and content creators to receive royalties in the future. The rarible platform allows users to perform additional functions like adding a hidden message or high-resolution file to their digital art. With Rarible tokens, users can submit or vote on things associated with the platform, such as platform rules, fees management, etc.

Mintable

Launched in 2018, this NFT marketplace gained instant popularity as it facilitates buying and selling of a variety of digital assets. Users can trade assets in the following categories — Art, Music, Videos, E-Books, and others. Billionaire Mark Cuban backs this NFT marketplace with an aim to create an alternative to the OpenSea platform. Mintable, the NFT marketplace, allows users to create, buy, sell, and trade NFTs with Ethereum blockchain technology.

Anyone can buy, sell, and trade NFTs on the Mintable platform. However, you first need to own Ethereum from any cryptocurrency exchange and connect your wallet with the Mintable marketplace. ETH is used to paying the minting fees, bidding, and purchasing digital assets on the NFT marketplace.

This is just an overview of OpenSea, Mintable, and Rarible NFT marketplace. Next, we are going to compare OpenSea vs Mintable vs Rarible in four categories to decide which platform has an edge over others.

OpenSea vs Mintable vs Rarible: Comparison

Now, it is time to compare OpenSea vs Mintable vs Rarible and critically analyze which NFT platform is the best. We are going to compare all these NFT marketplaces — Inception, Audience, Training Support, and Technology Integration categories. Let’s discuss these in detail -

Inception

Firstly, we are going to compare OpenSea, Mintable, and Rarible based on company information, i.e., Inception.

• OpenSea NFT marketplace is the oldest among others. Launched in 2017, the platform is a US-based NFT marketplace.
• Launched in 2018, Mintable comes second in the NFT Marketplace. Although the other two NFT platforms are US-based, Mintable is a Singapore-based digital marketplace.
• Rarible is the newest member that arrived in 2020, although launched in 2017. This is also a US-based NFT marketplace.

Audience

Although all three platforms look similar to one another, targeting the same digital artists and content creators. But, in reality, that’s not completely true.

• Mintable, NFT metaverse is more preferred for audiences looking to trade digital assets and earn crypto.
• For users who are looking to take advantage of smart contact and secure blockchain technology, OpenSea is the right pick for them.
• Rarible, NFT marketplace is ideal for anyone who is creator-focused and looking for the creation or collection of rare digital assets with the security of blockchain.

Training & Support

The other major difference between the three NFT marketplace is the online training and support. The online training and support feature comes in handy for someone new to these platforms, both creator or digital artist. With this, they can educate their users and support them in making the right decisions.

For users searching for an NFT platform with a facility of live online training, then Rarible is the right platform.

The other two platforms — OpenSea and Mintable, don’t have online training facilities. However, all three NFT marketplace fails to provide any web based training facility and in-person chat. Although there is still a possibility that these platforms can add these features in the near future.

Technology Integrations

Lastly, we are going to compare Mintable, OpenSea, and Rarible on the basis of their flexibility to technology integrations. Whether you are a content creator or investor, no one likes to be worried about platform integration with other tools like wallets.

The mintable marketplace can be integrated with popular wallets such as Ethereum, Metamask, Rainbow, and other Wallets.

In contrast to this, the Rarible platform offers integration with popular wallets such as Coinbase Wallet, WalletConnect, and others.

OpenSea is the clear winner in this category. It has the support for integration with maximum tools such as Ethereum, Metamask, Coinbase Wallet, Mintbase, Bitski, and the list goes on.

OpenSea vs Rarible vs Mintable: Key Difference Table

Main Differences Between Rarible and OpenSea

1. Rarible had a rise in consumers, but OpenSea is always in the early stages of development.
2. Rarible was founded in 2020, whereas OpenSea was founded in 2018.
   Alex Atallah and Devin Finzer founded Rarible, while Alex Atallah and Devin Finzer founded OpenSea.
3. Rarible is based on the RARI blockchain, whereas OpenSea is based on the Ethereum blockchain.
4. When compared to OpenSea, Rarible has a fairly small user base.

Wrapping Up

For the detailed overview of Mintable vs OpenSea vs Rarible NFT marketing platform, that’s it. Rarible, a new NFT marketplace, offers facilities like live training and giving tough competition to the OpenSea platform. On the other hand, Mintable appears to be traders’ first preference to buy, sell, or trade digital assets over the internet. But, OpenSea, with over 200 categories of NFTs and decentralized P2P marketplace, has still dominated the NFT marketplace for quite a long time.

So, basically, it all depends on the user preference and their intended use of these NFT marketplaces.