Tezos is a decentralized, open-source, and proof-of-stake blockchain infrastructure focused on digital assets. Since its inception in 2014, Tezos aims to become a self-amending blockchain, and through the years, its presence in the NFT space has grown stronger.
Is Tezos ready to onboard creators? What is the best Tezos NFT marketplace and does it offer royalties? Let’s find out!
Although Tezos is an NFT chain inherently, the number of marketplaces in Tezos is limited, and so is the volume. The leader in Tezos NFTs is OBJKT, and it hosts more than 13,000 traders in a month. It also manages a respectable monthly volume of $1 million even in this bear market.
How Does Tezos Fare With Ethereum and BNB Chain Networks?
This shows the massive shortfall in volume in Tezos when compared to Ethereum and BNB Chain. Thus, collections can easily become illiquid.
Pros and Cons of Minting in Tezos
Pros
- Low gas fees.
- High influence in the European region.
- Partnerships with elite organizations like Manchester United Football Club.
- Established in 2014 and, thus, has a proven history.
Cons
- Low liquidity.
- Absence of participation from the Asian NFT players.
- Absence of inclusive wallet solutions. Currently, only Temple (extension) and Kukai (browser wallet) are supported.
- Could not capture the NFT market share of Solana in the last bull run.
Conclusion
Even though Tezos offers low gas fees and high royalty support, its lack of volume is alarming. The general trend is that generative art is dominating the marketplaces and is fast becoming a niche NFT marketplace. That means pure art, gaming NFTs, identity NFTs, and blue chips MIGHT NOT migrate to Tezos in the foreseeable future.
Also, creators are risking the problem of a lack of communities in the Tezos NFT space. The top three collections in OBJKT belong to other NFT marketplaces.
Therefore, creators are better off minting in the Ethereum network rather than in Tezos.
Nevertheless, OBJKT is the best NFT marketplace in Tezos. It has:
- Most volume (4X its competitor)
- Most users (2X its competitor)
- Royalty is enforced and sits at 10% (competitors offer up to 20% royalty)
- Better graphics than competitors, with a similar fees structure
- Lowest minting cost (less than 0.2 XTZ = 20 cents)
Royalty Comparison in Tezos Marketplaces
How to Mint in OBJKT
- Make sure you have enough $XTZ in your wallet (Temple).
- Go to objkt.com and connect your Temple wallet.
- Click on Create.
- You can create a new collection, upload files, and specify royalties. By default, the royalty is set at 10%.
- Pay mint cost (it varies around 0.1 XTZ and 1 XTZ, depending on the collection).
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