What is an NFT platform?
NFTs have come a long way since their inception just a couple of years ago. At minimum, NFT platforms have always allowed users to purchase NFTs. Now, these platforms offer an incredible level of functionality, offering the opportunity to create your own NFT store, mint your own NFTs and even build your own metaverse.
Some NFTs even have the ability to receive commissions or royalties from each subsequent sale, furthering artist incentive. NFT platforms exist on multiple blockchains, and each have their own accepted crypto assets for purchases too. There is constant competition amongst platforms as they aim to take and control a bigger piece of the market.
So when it comes to NFTs and Web3 presence, what are the top 5 NFT platforms?
1. Rarible
Rarible is an Ethereum-based NFT platform. Currently it acts as a kind of one stop shop for the creation, sale, and purchase of NFTs. Rarible is a multi-chain marketplace, which means it sells more than just Ethereum NFTs even though Rarible itself is Ethereum-based. The creators of Rarible plan to slowly decentralize the platform until it becomes a Decentralized Autonomous Organization (DAO) run by community holders of the RARI governance coin. As a multi-chain marketplace, Rarible is compatible with OpenSea, another major NFT platform. Unlike OpenSea however, Rarible is only compatible with its own token, rather than the variety available on OpenSea.
Currently, Rarible only supports three blockchains with support for more on the way. These three are Ethereum, Tezos, and Flow. Rarible allows artists to create their own NFTs on the platform through the minting process and they can earn royalties if they choose. This means that with each sale of the NFT, a royalty fee is paid to the artist. Overall, Rarible sets the standard for what a user should expect from an NFT platform.
2. OpenSea
When it comes to NFT platforms, OpenSea is perhaps the most well known NFT platform. If you’re new to the NFT ecosystem then OpenSea is a good place to start. It’s free to sign up and supports both, artists and purchasers of NFTs. Artists can mint their own NFTs on the platform as well. Compared to other NFT platforms, OpenSea is a bit barebones, but it was developed early and has been the market leader in NFT platforms because of it. This barebones functionality also makes it incredibly user friendly if it’s your first time purchasing or minting NFTs.
3. Mozverse
Mozverse is an NFT platform with a wide range of features. Mozverse provides users with typical NFT platform features like purchase and minting of NFTs as well as more in-depth features that facilitate the development of a Web3 presence. This includes things like creating DAOs, metaverse NFTs, API access, and more.
Mozverse provides clients with their own technology ecosystem to control the Brand Experience regardless of their skill level with blockchain technology. Mozverse is a more robust platform for this reason, as the platform offers a wider number of features beyond minting and sales. With the tools available on Mozverse, it’s possible to create NFT apps using the Mozverse API and to receive consulting on your Web3 vision.
Overall, Mozverse is the most comprehensive NFT platform on the list. When it comes to functionality, Mozverse has the most capability for artists and developers, with a wide range of possibilities. For purchasers, the Mozverse consulting team can assist with any challenges with the Web3 development process and finding the Web3 solution to meet your specifications.
4. Crypto.com NFT
Crypto.com NFT is the crypto exchange’s emergence into the NFT ecosystem. As expected, users can mint and purchase NFTs on Crypto.com. What makes Crypto.com’s platform unique is its NFT interoperability and NFT brand partnerships. As far as interoperability goes, Crypto.com has released a 22 page report detailing why specifically interoperability matters. In short, the sales volume produced from each blockchain is huge, so Crypto.com allows users to pay with their account on the exchange or with a credit/debit card.
Alongside NFT interoperability, Crypto.com NFT has a strong focus on NFT brand partnerships. Crypto.com has partnered with brand leaders such as the UFC, LA Kings hockey team, and Aston Martin F1 to promote their Web3 presence in the NFT ecosystem.
When it comes to cryptocurrencies accepted, Crypto.com NFT has the most accepted on this list. You can purchase any NFT with any cryptocurrency available on the Crypto.com platform.
5. Mintbase.io
Mintbase.io is an NFT platform that allows users to create their own custom NFT marketplace. With Mintbase, you create your own storefront and then mint NFTs for your store. Just like that, you’re in the NFT metaverse. Mintbase runs on two blockchains, Ethereum and the NEAR protocol. You can choose to mint NFTs or to purchase NFTs with either blockchain, but not both. For example, if you mint an NFT with the Ethereum version of the website, then that NFT will only work on Ethereum.
It’s important to note that Mintbase prefers the NEAR protocol to Ethereum, although both work. The difference between NEAR NFTs and Ethereum NFTs are small but noteworthy, mainly in the fees department. Minting NEAR NFTs is much cheaper than Ethereum due to the exorbitant gas fees required for transactions on the Ethereum blockchain.
Overall, Mintbase is an interesting NFT platform since it goes beyond the typical functionality that you would expect to see on a regular NFT platform. Offering users their own store is something currently unique to Mintbase.
