Confused to differentiate Mintable, Nifty Gateway, OpenSea, and Rarible? This detailed comparison of Mintable vs Nifty Gateway vs OpenSea vs Rarible will clear all your doubts. Let’s dive in!
The early part of 2021 witnessed profound and stark growth in the popularity of non-fungible tokens or NFTs. non-fungible tokens transformed the approaches for proving ownership of digital goods. As of now, the most expensive NFT sale fetched a humongous $69 million. The popularity of NFTs is also evident in the fact that NFTs had almost 20,000 to 40,000 unique buyers in any 30-day period between March 1 and May 31, 2021.
The popularity of NFTs is the foremost reason for discussing a Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison. NFTs are gaining popularity, and users need some platforms for buying, selling, and trading NFTs, which are evident in these choices. The following discussion provides an overview of each tool followed by a comparison between them on different factors.
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Understanding Top NFT Trading Platforms
When you want to start with NFT trading, you need a marketplace for buying and selling NFTs. The different marketplaces available online presently have unique benefits and focus on specific use cases. The most preferred NFT trading marketplaces in the present times include Mintable, Nifty Gateway, OpenSea, and Rarible. Before we find out the best alternative among these four choices, let us take a look at an overview of these platforms.
Mintable is basically a platform tailored for creation, distribution, purchasing, selling, and digital trading assets on the blockchain by using non-fungible tokens of NFTs. The Ethereum blockchain enables developers to leverage smart contracts and serves as the foundation of Mintable. Mintable is actually a collection of smart contracts operating together alongside enabling regular users to the creation of digital items on the blockchain without having any previous knowledge of programming or coding.
Mintable allows users to transform digital content into NFTs residing on the blockchain. The digital content could include books, images, videos, musical tracks, or even complex digital files. Users can just enter the details for describing their item and use the Ethereum blockchain for taking their digital item to the masses. Users could browse the Mintable marketplace for making bids and purchasing digital items. The items reside on the blockchain and go into your wallet when you purchase them.
Ethereum blockchain helps in recording all the transactions, thereby offering undisputable proof of ownership. At the same time, it also ensures that the seller gets their due credit for the sold item. All the items on Mintable include a preview image illustration which helps in recognizing them easily in your wallet. Certain digital items on Mintable could include private files, accessible only to the owners.
In addition, Mintable also enables content creators to monetization of their digital brand without any initial crypto investments. Mintable allows the sale of digital content in the form of NFTs. The content creator’s imagination plays a crucial role in the integration of NFTs in their workflow.
Must Read: A Complete List Of Stablecoins
The second entry in the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison, i.e., Nifty Gateway, is actually an exclusive NFT platform. Nifty Gateway brings an exclusive combination of crypto technology and digital collectibles alongside artworks for creating a rich marketplace of high-value assets that can be traded. As a result, it can deliver promising chances of improved investment potential for digital assets. Nifty Gateway allows users to buy and sell non-fungible tokens or NFTs, otherwise referred to as Nifties.
The non-fungible token is actually a digital token recorded on a ledger, terms as the blockchain. NFTs bear promising similarities to cryptocurrencies in terms of documentation of the transactions. At the same time, Nifty Gateway enables the transformation of different types of assets such as art, games, and music into NFTs.
Presently, Nifty Gateway serves as an exclusive marketplace for music and art under the supervision of the Nifty team. The team enables the best musicians and artists to create NFTs for selling on Nifty Gateway. Users who have an NFT could use Metamask for uploading it to the Omnibus Wallet of Nifty Gateway. Nifty Gateway allows NFT deposits in the Omnibus Wallet. Furthermore, you can also apply on the Nifty Gateway website to become an NFT creator and selling your artwork.
Want to understand the difference between fungible and non-fungible tokens? Here’s a guide to fungible vs. non-fungible tokens that focuses on their differences.
The next addition in the Mintable vs Nifty Gateway vs OpenSea vs Rarible discussion would bring OpenSea to the table. It serves as a prolific decentralized P2P marketplace that can support purchases, sales, and trade of rare digital goods. The rare digital goods could include art, gaming artifacts, and collectibles developed on NFT technology and operating on Ethereum blockchain.
As a matter of fact, OpenSea claims that it is the largest marketplace for digital goods. The claim of OpenSea appears valid to a certain extent with the broad assortment of items available on OpenSea. You could find more than 200 categories of items with the most reasonable pricing for new items.
The OpenSea platform allows users for digital trading art, sports NFTs, decentralized domain names, digital collectibles, utility NFTs, virtual worlds, and trading cards. Most important of all, OpenSea is the preferred platform in the case of many renowned NFT projects such as Gods Unchained, Cryptopunks, Cryptokitties, and others.
Interestingly, OpenSea allows any individual to trade NFTs on a global scale without taking custody of items in its marketplace. On the contrary, OpenSea leverages a smart contract for trading, and users could store their assets in their desired wallets. The interesting highlight about OpenSea refers to the fact that it takes only 2.5% of the purchase price of NFTs.
The final player in the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison, i.e., Rarible, is also one of the credible competitors among NFT marketplaces. Rarible works as a decentralized NFT marketplace as well as a minting platform. It enables digital artists with capabilities for creation and sale of tokenized artwork. Rarible is the most recent addition among the other entries in this comparison, as it arrived in early 2020. The striking feature of Rarible is the facility for adding different types of additional content such as hidden messages and high-resolution files in their artwork.
In addition, Rarible also allows content creators to configure smart contracts for the collection of royalties on their artwork in the future. From a more technical perspective, you can define Rarible as a DAO or Decentralized Autonomous Organization. The DAO enables users to create and selling ERC-20, ERC-1155, and ERC-721 tokens with utmost safety while ensuring the security of the Ethereum environment.
Rarible brings the perfect blend of NFT technology and a DAO marketplace. Furthermore, Rarible was also the first to introduce a governance token like RARI in the world of NFTs. The RARI token offers the privileges for submitting and voting on proposals such as platform rules and fees management.
Also Check: NFTs And Their Use Cases: A Complete Guide
Differences between Mintable, Nifty Gateway, OpenSea and Rarible
Now that you know about the four top preferences among NFT marketplaces in the present times, it is reasonable to reflect on their differences. The Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison would take various factors into account for a clear definition of the differences. Here is an outline of the differences between the four NFT marketplaces in various categories.
The first point of comparison between Mintable, Nifty Gateway, OpenSea, and Rarible refers to the company information. Mintable stands out as the odd pick in this case as it is a Singapore-based venture. The other three players are US-based. In terms of the date of launch, Rarible exhibits a rare case by being the latest addition. While Mintable and Nifty Gateway were launched in 2018, OpenSea was one year earlier and had arrived in 2017. Rarible arrived in early 2020, although it had been launched in 2017.
The audience for the NFT marketplaces also serves as a crucial factor in the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison. The audience of Mintable comprises any individual searching for a platform for digital trading items and earning crypto. Nifty Gateway is suitable for people seeking an online platform to create their own collection of high-quality, limited-edition NFTs.
If you want a marketplace for trading blockchain-based digital assets by leveraging a smart contract, you can go for OpenSea. Rarible is the right pick for you if you want a creator-focused NFT marketplace for the creation, sales, and collection of digital items secured in blockchain.
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Training support is one of the significant aspects in defining the differences between NFT marketplaces. The features of an NFT marketplace would be futile if users don’t know how to use them. Therefore, the facility of training support for users in getting started with an NFT platform and understanding the basic processes and tasks is highly crucial for finding efficient choices.
All four platforms offer the facility of documentation as training support. On the other hand, Nifty Gateway and Rarible also include the facility of live online training. You wouldn’t get these advantages with Mintable and OpenSea. It is also important to note that Mintable, Nifty Gateway, OpenSea, and Rarible do not offer the facility of in-person and webinar-based training.
The final aspect in the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison would focus on the flexibility of technology integrations. When you are adopting an NFT platform, you must be worried about the possibilities of using the functionalities of other tools. Mintable offers support for integration with,
- Rainbow Wallet
- Unstoppable Domains
- Trust Wallet
Nifty Gateway offer integrations with Ethereum and Metamask only. On the other hand, Rarible also supports integrations with Coinbase Wallet, WalletConnect, MyEtherWallet, Torus, and Fortmatic alongside Ethereum and Metamask.
Want to know about the Future Applications And Challenges Of NFT? Check out this detailed guide here!
However, OpenSea is obviously the biggest shark when it comes to technology integrations as it provides support for integration with various other tools. OpenSea provides the flexibility for integration with the following tools,
- Coinbase Wallet
- Opera Touch
- Unstoppable Domains
Mintable vs Nifty Gateway vs OpenSea vs Rarible – Comparison Table
You could get an abridged version of the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison in the following difference table.
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The detailed overview of the Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison leads to many interesting observations. First of all, we came to know that Rarible is the latest addition to the NFT platforms. At the same time, the discussion also shed light on the facility of training support for using the platforms.
While all the platforms offer official documentation as training resources, Nifty Gateway and Rarible go a step further with the facility of live online training. However, the support for technology integrations served as a decisive factor in comparison between the four NFT platforms. OpenSea offers support for integration for a maximum number of tools at 16, while Mintable supports integration with 5 tools and Nifty Gateway with 2.
Finally, the difference between the four platforms on the basis of the audience helps in finding the ideal choice. The audience section in Mintable vs Nifty Gateway vs OpenSea vs Rarible comparison shows that each platform serves specific purposes. So, you could choose the ideal NFT platform which could fit perfectly with the requirements in your desired use case. Learn more about NFT trading platforms and how to use them to your advantage right now!
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Do your own research!
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Author: Diego Geroni