Ethereum gas fees are a real killer.
When you need to pay upwards of 0.04 ETH to just buy an NFT on the network, many people will start to look for alternatives. Cardano is a blockchain that offers low-cost, economically and environmentally-friendly transactions.
There are no accessible Cardano dApp tracking platforms, so there are a lot of claims made by these sites. You can’t really fact-check these sites like you can ETH or SOL markets on DappRadar. Keep that in mind when evaluating which marketplace to use. It’s still early in this ecosystem, so the go-to marketplace has yet to cement itself. Let’s look at some features these sites are offering and make your decision based on that!
CNFT was one of the first NFT marketplaces launched on Cardano. Launching in July of 2021, this marketplace is looking to revolutionize the NFT space.
As of January 5th, the marketplace has seen over 100M $ADA in total volume. This is only off a 2.5% commission on sales. Soon, users will be able to mint NFT collections directly on CNFT.
What a crazy first 6 months this has been. With our dev team hard at work improving your experience we have, today just hit 100M $ADA in volume on https://t.co/cnTC7CePHm We realise we aren’t perfect, yet. But with your support we remain the #1 Cardano NFT marketplace. Thank you! pic.twitter.com/NTok09YP4K
— CNFT.IO ⚡️ (@CNFT_IO) January 5, 2022
The platform supports the largest wallets on Cardano, including:
- Gero Wallet
The platform does require KYC, so you need to sign up with an email and password. After this, all you need to do is fund your wallet with the proper amount of $ADA to purchase the NFT you want.
Galaxy of Art also claims that it is the largest NFT marketplace on the Cardano chain. Launching in January of this year, the platform focuses on the social aspect of NFT trading.
Galaxy of Art Marketplace is Live ✨
Hello Community we are excited to announce that we are live with our Cardano based NFT Marketplace – Galaxy Of Art.
— Galaxy of Art (@galaxyof_art) January 3, 2022
Users can mint, sell, and collect NFTs on the Cardano chain, but can also follow their favorite collectors and creators.
The platform is brand new, so the claim that they are the largest on Cardano is very bold. The platform is also claiming to be focusing on the aspect of interoperability.
Currently, KYC is needed to register for the site. Additionally, users cannot connect external wallets to the site. NFTs are currently stored on your profile, which at the moment, kind of defeats the purpose of NFTs.
This is a brand new marketplace, so proceed with caution while using it. Early users are typically rewarded on sites like these, so you never know. It could be the next OpenSea, and you could be one of the first participants!
Finally, Jpg Store may actually be the largest NFT marketplace on Cardano, with hard stats to back them up.
Most active platforms on #Cardano
— Cardians (@Cardians_) February 2, 2022
According to this graphic, JPG Store edges out CNFT by nearly 180k daily active users. They have also paid out well over 1.1 million $ADA in royalties to their creators. The coolest feature for creators on this platform is their JPG Launchpad.
1/4 JPG Launchpad is here! 🚀
— jpg.store (@jpgstoreNFT) January 10, 2022
Creators can receive mentorship opportunities and guidance through their first project mint. These creators selected for the launchpad receive tips, help with minting, verification on the site, as well as marketing help.
This seems to be one of the better options when it comes to NFT marketplaces on Cardano. They seem to have the most support for creators and collectors. Additionally, no KYC is required on JPG Store. Simply connect your Nami or ccVault wallet and start buying or creating!
NOTE: Remember always to do your research, make your own decisions, and invest in projects that interest you!
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