A Complete Comparison of Major NFT Marketplaces - Fees, Features, Functions and Market Sizes - NFTX - NFT ART Exhibition
As there are many NFT marketplaces, you probably wonder which platforms you should join as your main market. Cost you need to care, supporting file format, the market size... and so on, there are several things you need to compare one to another.
Although its history is shorter than Opensea, starting since 2020, Rarible is also one of the most reliable large NFT marketplaces, which allows creators to mint NFTs on Rarible’s original token called “RARI” as well as ERC721. The supported format type is image, video and audio.
The characteristic feature of Rarible is its own token “RARI”. This can be consumed not only to sell or buy NFTs on the platform, but also to propose or vote on proposals for improvements, moderate community members, curate features artworks and promote members by proposing community or art grants. So it basically functions like a kind of virtual “stock” to allow users to participate in the platform management.
Like Opensea, you are asked to pay initial contract gas fee, as well as separated minting and listing fees each time you attempt to sell your works Since late 2021, they offer “Gas-less minting” for artists, so now you can mint your works with no initial gas fees! This is the main reason why Rarible artists are often more likely to lament over finance. The service fee taken by rarible is 2.5%, same as the other platforms.
The platform is undoubtedly very popular, as the UI of the page is both collector and creator friendly and you will have more chance to discover your favorite artworks or get discovered by your potential patrons.
Pros: Large market, Original RARI token, User-friendly website design
Cons: Too many creators and hard to g-time gas payment required
Visit Rarible: https://rarible.com