Editorial Notes (vol. 25) – The best NFT marketplaces across ecosystems

NFTs have become a truly killer use case, bringing more users to Web3 than any other blockchain innovation. However, over the last few months, the NFT market has cooled down significantly and interest in NFTs has somehow disappeared. The traded volume on OpenSea makes it pretty clear – at the height of the NFT mania, Opensea saw over $1.5 billion in weekly volume. But now, it barely touches $100m. 

Even though the market has been performing badly, there are some collections that have been performing really well. From Smolbrains to MAYC, no matter the chain, there is still interest in these prized collections. 

The traded volume for NFTs has dropped by around 90% over the last few months. However, the user base still remains relatively high. The weekly volume of users of NFT marketplaces reached a high of over 400k in early February and currently sits at 250k, which is a significantly smaller reduction than we saw with the traded volume.

Additionally, throughout the market downturn, the total transaction count in marketplaces has remained at the same level based on the data provided by Nansen.

All these data points show that there is still significant interest in this market and that there are still a lot of opportunities to be found. Below, you’ll find some of the best and most popular NFT marketplaces across the networks that Omni supports and look for opportunities while the NFT prices are down.

Trade NFTs on the largest marketplace – OpenSea.

OpenSea is a peer-to-peer marketplace for NFTs, rare digital items, and crypto collectibles on Ethereum. As one of the first NFT marketplaces, OpenSea has the largest marketplace for NFTs by volume. Even though it started on Ethereum, OpenSea has expanded to Solana and L2s like Optimism and Arbitrum.

Explore SudoSwap, an innovative NFT marketplace with the lowest fees on Ethereum.

SudoSwap is a fully on-chain, gas-efficient decentralized NFT marketplace. What makes Sudoswap different is the ability for buyers and sellers to swap into customizable bonding curves created by liquidity providers who have full control over their pool’s pricing and can adjust accordingly at any time. 

Additionally, say goodbye to the needed 10% price increases just to break even. Trading on Sudoswap means you only pay a 0.5% fee, which is substantially lower than on most platforms and doesn’t require you to pay for royalties, usually in excess of 5%.

Trade NFTs for free on X2Y2 and get 100% trading fee rebates.

X2Y2 is an emerging NFT marketplace that launched in February 2022 that offers cool in-app features like featuring bulk listing, rarity tracking, and real-time notifications. They are presented with three navigation options: “Explore” (to browse NFTs), “Ranking” (top-performing NFTs), and “Rewards” (X2Y2 coin rewards). 

Discover great NFTs and artists on Avalanche with Joepegs.

Joepegs is the trusted NFT Marketplace on Avalanche, built for creators and collectors. It serves as the cultural hub for premium digital assets, where users can trade NFTs, explore the ecosystem on Avalanche, and find more about the most popular collections.

Buy and sell NFTs and earn rewards in WETH by staking on LooksRare.

LooksRare is a community-first NFT marketplace that actively rewards traders, collectors, and creators for their participation. Users that buy or sell NFTs from eligible collections earn LOOKS tokens and 100% of trading fees are earned by LOOKS stakers. Creators get royalty payments at the moment of sale.

Trade NFTs in the Cosmos ecosystem with Stargaze.

Stargaze is a fully decentralized NFT marketplace in the Cosmos ecosystem. Stargaze is a zone in the Cosmos ecosystem that exemplifies high levels of security, decentralization, transparency, and flexibility. It aims to be a decentralized NFT market, totally owned, and governed by its users. It allows you to trade Stargaze-based NFTs, find the latest NFT drops and stake STARS in order to earn protocol rewards.

Magic Eden – The largest Solana-based NFT marketplace 

Magic Eden is a peer-to-peer marketplace for NFTs, rare digital items, and crypto collectibles on Solana. Besides the marketplace, it also features a platform known as Magic Launchpad, which helps artists launch new NFT projects on Solana, allows users to search for specific collectors, explore NFT-based games on Solana, and more!

Trade on the go-to Optimism NFT marketplace – Quix.

Quix is the largest NFT marketplace on Optimism. Its NFT marketplace includes features tailored for both creators and collectors. From its NFT Launchpad, which lets developers launch no-code smart contracts for free-to-mint NFT collections, to its in-app rarity ranking calculator and its floor sweep tool, the Quick platform is a versatile marketplace. At the moment, Quix is also a part of Optimism Quests, through which you can earn a cool NFT after you complete their quests!

Discover and collect NFTs on multiple networks with Rarible.

You'll find Rarible on almost any network you use. It covers Ethereum, Tezos, Polygon, Solana, Flow, and Immutable X. Beyond allowing you to explore other users of Rarible, collections, and specific NFTs, it also enables anyone to create their own collection. Recently, they have also introduced a new feature – Rarible Aggregator, which allows you to trade NFTs from major marketplaces with 0% buyer and seller fees.

Discover, collect, and sell digital items on Stratos – Arbitrum's largest NFT marketplace.

Stratos is the largest NFT marketplace on Arbitrum, built by the team behind Quix. Discover new collections and items, check out the most active collections, and trade NFTs with low fees on L2. With Stratos, you can also easily create your own collections through the free mint launchpad and get in-depth statistics on all Arbitrum-based NFTs and collections.