While OpenSea was the biggest player in the NFT market during the 2021 rally, a handful of marketplaces emerged as alternatives to offer a broader range of digital assets, improved features, or cater to specific NFT market segments.
Read on to discover a list of the top 5 OpenSea alternatives you can explore and find what suits your NFT needs best.
OpenSea Alternatives You Should Know About
Each of the top NFT marketplaces below has its unique concept and focuses on a particular audience by bringing their users specific kinds of NFTs or providing special features.
Magic Eden
Since its launch in 2021, Magic Eden has become a key competitor of OpenSea, by supporting a broad range of NFTs across multiple blockchains, including blue chip collections such as CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins, and offering a comprehensive suite of tools for both traders and NFT creators.
The platform stands out as a cross-chain NFT marketplace, supporting Solana, Ethereum, and ten other blockchains. Magic Eden is also the leader in the Ordinals market, while also supporting Runes, Bitcoin-powered fungible tokens. The platform also aggregates NFT listings from multiple marketplaces ensuring users don’t miss new opportunities.
Moreover, if you’re a creative spirit, you can use Magic Eden’s Launchpad to mint your own NFT collection that later can be sold on the same platform. Alternatively, you can go to their Mint Terminal, which aggregates over 20 minting platforms, so you’ll always know what’s up for grabs.
On this platform, NFT traders will also find handy analytics tools that will help them make better decisions before buying or selling NFTs.
Magic Eden also has a native governance token called ME.
SuperRare
SuperRare is an NFT marketplace that focuses on single-edition digital art. You can use this platform to issue, collect, and trade rare artwork.
The platform is built on the Ethereum blockchain, which is being used by artists to mint their artworks for this platform. When an artist add their creation to SuperRare it is then tokenized by creating an NFT, which becomes available for purchase.
This focus on unique art makes this platform appealing to collectors who are looking for art gems, and artists who want to sell their digital work in a global market.
Here, you can buy digital artwork via Auctions, Offers, or by using the Buy Now option. For example, auctions are scheduled in advance or can be launched when a specified reserve price is met. Alternatively, you can make an open offer for a piece of art that is not under auction or just use the standard ‘Buy Now’ button to purchase your favorite art immediately.
This platform also has its governance token, RARE.
Rarible
Rarible is another aggregated NFT marketplace with rewards for its users. Similarly to Magic Eden it supports multiple blockchains, including less popular chains such as Celo, Moonbeam, or Lisk, but lacks support for NFTs on the Bitcoin chain.
You can also use this platform to create your NFT or a whole collection of them on supported blockchains and launch an NFT drop on Rarible. A more unique feature that this platform provides is the ability to create your own NFT marketplace for your Ethereum or Polygon blockchain-powered collections without writing any code.
It also boasts the Rarible API that helps developers and creators craft innovative NFT applications and marketplaces.
The platform is using its native token, RARI, to reward its active users for buying, listing NFTs, and other activities.
Blur
Blur is an NFT marketplace built for professional traders as it focuses on execution speeds and real-time data analytics. The platform is also optimized for bulk trading which makes it a favorite among those who frequently buy and sell NFTs to capitalize on market trends.
With live market insights and advanced trading tools, Blur provides a competitive edge for users looking to maximize profits.
It also has portfolio management tools, multi-marketplace comparisons for NFTs, and a special section that helps track current activity in the market.
However, its focus on speed and efficiency makes it less beginner-friendly.
This platform also has its native governance token, BLUR.
Foundation
Foundation is another alternative NFT marketplace that focuses on unique digital artwork.
For example, it has hosted auctions such as Edward Snowden’s “Stay Free” and Nyan Cat, showcasing its appeal for unique digital collectibles.
You can use it to create your own NFTs on Ethereum and its Layer 2 chain, Base, and sell them via multiple options such as Reserve Auction, Buy Now, Offers, Drops, Editions, Galleries, Exhibitions, and Batch Listing.
The platform supports various types of digital art, such as images, videos, and 3D artwork.
Meanwhile, if you’re just looking for an NFT to buy, you can browse curated selections of NFTs through Exhibitions and Galleries or browse directly through Trending Drops, Editions, and NFTs.
Contrary to other marketplaces, Foundation doesn’t have its native token.
Takeaway
While OpenSea has made its way into the list of top NFT marketplaces, it faces increasingly fierce competition from other platforms that offer different opportunities to collect, trade, and create NFTs.
Therefore, you can find the best platform for you depending on what you’re looking for to diversify your portfolio. If you want to be up to date with all the latest NFT collections across multiple chains, including Bitcoin, use handy trading tools and other useful features, such as minting your own NFTs, Magic Eden might be your best choice.
Meanwhile, if you’re looking for unique digital artwork, platforms such as SuperRare and Foundation might be the best places to go. Alternatively, if you’re already a pro NFT trader or planning to become one and you need extra speed and bulk trades, Blur can offer exactly that.
In either case, this space keeps evolving and you can expect more cool things coming to these NFT marketplaces.
