Top Examples to Consider Before You Create Your Own NFT Marketplace

The paradigm shift in technology is called for innovative, efficient, and resilient solutions. Industries are moving towards next-gen solutions by embracing Web3.0, Metaverse and develop your own NFT marketplace.

NFTs are the latest trend in the digital world, moving beyond physical assets. With the growing trading market, the surge in demand to design robust, scalable, and secure NFT marketplaces is evident. 

So, if you want to invest in developing the NFT marketplace, consider analyzing the high-grade NFT marketplaces that are already performing well in the market. 

Here, we have compiled the list of top examples of NFT marketplaces that you can undertake while discovering your own marketplace.

OpenSea Like NFT Marketplace Development

OpenSea is one of the well-known NFT marketplaces in US that has been around for a long time. It allows traders, investors, and NFT enthusiasts to buy and sell NFTs.

Many NFT enthusiasts are already aware of this Ethereum ERC-721 standard-based marketplace and use it for trading NFTs. 

This marketplace has enormous popularity and generates $124 million in daily average sales. OpenSea is still upgrading its services to optimize its performance; for instance, it has recently acquired Gem, and now it is all set to adapt its functionalities. 

If you want to know the process of building an marketplace, read our NFT marketplace development guide.

SuperRare Like NFT Marketplace Development

In the contemporary era, art and entertainment NFTs are in high demand. SuperRare marketplace is for digital arts. Top artists can put their digital arts as NFTs for auction on this platform.

It created a sale of $8,000 in the first year of its launch, and last year it crossed $25 million in 2021.

For artists to sell their digital art on this marketplace, they have to register on the platform. After the authentication and closely reviewing their work and other parameters, they can put their asset on this platform. 

SuperRare, like NFT marketplace development, may be an excellent fit for your research if you are looking for a particular niche marketplace.

Foundation Like NFT Marketplace Development

Foundation marketplace has a niche-focused structure and community-driven curation model that is currently enthralling on art trading and attracting its targeted audience accordingly. 

The creators of Foundation marketplace have earned approximately $169,647,605.68 since its launch in February 2021. Also, it is performing exquisitely in the trading volume as well. 

Therefore, if you are looking to develop a niche-oriented marketplace, Foundation marketplace can be one of the best NFT marketplace development Ideas to study its design, market strategies, and user experiences.

Rarible Like NFT Marketplace Development

Another well-known marketplace is Rarible, which provides a social media-like experience for the users to create, list, sell, or purchase NFTs. It has been growing staggeringly in the last few years and enables creation on three Blockchains, i.e., Ethereum, Tezos, and Flow.

Rarible has crossed $273 million in trading volume with 2.1 million monthly active users. It provides various NFTs on different niches like artworks, in-game assets, media files, and even rare collectibles. 

This dynamic NFT marketplace also provides a governance token known as RARI to the traders for voting and contributing to the essential decision-making taking hold of the fundamental procedure. 

Final Words

If you want a more productive, cost-efficient, and seamless product development process, you can consider hiring a professional NFT marketplace development company.

A product discovery phase is a crucial phase of the product development lifecycle. And competitor analysis gives you an idea of product visualization, use cases, core features, and technology stack.

Consequently, analyzing the well-known marketplaces like OpenSea, Rarible, SuperRare can solve many issues and offer advice on how to combat the challenges related to the mobile app development or many types of marketplace.