Despite arriving somewhat “fashionably late” to the NFT party, Cardano has made significant inroads into the space by providing collectors and artists with a number of established NFTs marketplaces to buy and sell amazing pieces of digital art.
In this article, let’s uncover:
Let’s get started!
Non-fungible tokens are one of the most promising blockchain technology use cases since the advent of Bitcoin.
The industry is set to create a $122 billion market by 2028 from “lows” of $41 billion in 2021, with many of the larger market cap coins leading the charge.
Ethereum-based NFT marketplaces were among the first to dive into the space and foster the peer-to-peer trade of tokenized art.
Unfortunately, users of popular platforms such as Open Sea and Mintable have been shackled with prohibitively expensive fees to transact, making ETH inaccessible to many artists who are just starting out in the digital art space.
Outside of ETH, users on Solana have left art creators having to deal with network congestion of late that messes up collection launches when artists are trying to sell their collection out quickly.
There is a real need for a cheaper, faster, and more scalable solution for creators and Cardano promises that.
Now that you have an idea of why Cardano is an excellent choice for helping to onboard new artists into the NFT space, let’s take a look at 4 Cardano marketplaces you should consider listing your next collection on.
Explore the ins and outs of launching an NFT collection on Cardano with this comprehensive guide!
CNFT.io is an ingeniously named platform launched in mid-2021. It was the first Cardano NFT (CNFT) marketplace devoted to ADA users.
CNFT's popularity has grown in leaps and bounds, with its sales volume crossing the 100 million ADA mark in January 2022 and has over 100K daily active users.
You can mint and trade your art Cardano native assets by first opening an ADA-compatible Nami, GeroWallet or CCVault wallet — more on Cardano wallets here.
Set up your wallet and fund it with some ADA from your private wallet or an exchange.
Create a CNFT account by signing in to the website. Link your wallet to your CNFT.io account, then import your NFT art into your marketplace account.
CNFT does not have a native NFT minting tool. To this end, use third-party tools such as NFT-MAKER.io for minting purposes, then export your NFTs to your CNFT account.
CNFT's best user features include its easy-to-use and clean interface. Its project ranking and sales activity data are also unique. Additionally, it has an NFT collection filter for easy exploration and a creator launchpad.
On top of that, you can earn $CNFT, its native token, on trades. However, CNFT charges a 2.5% service fee on transactions.
Want to build awareness around your CNFT project before listing it on a marketplace? Check this out!
JPG Store is the largest of Cardano NFT marketplaces. The JPG Stores trades over 60% of all Cardano NFTs, while CNFT trades half its volume or 34% of all Cardano native assets. In addition, data shows that the JPG Store has supported the peer-to-peer trade of NFTs worth over ₳237 million.
Its royalties and new minting tools give the JPG Store an edge over CNFT. The JPG Store has a popular royalties feature and has paid its NFT creators over ₳1.1 million.
Over and above that, it has one of the most intuitive and friendly user interfaces of all Cardano NFT trading platforms. It is also a highly active NFT trading platform with over 280k daily users.
As a result, it offers its users excellent levels of liquidity for ease of trade.
Other popular JPG Store features include its beginner artist's guidance, mentorship opportunities, and support features.
You can trade your NFTs on the JPG Store via your CCVault or Nami wallet. This store levies a 2% service fee on NFTs that you wish to list.
Tokhun is a smaller but potent NFT marketplace with a 9000 daily active user base. It has facilitated the trade of 0.49% of Cardano native assets, worth an annual ₳1.9 million.
Tokhun is an artist's haven, offering its NFT creators showcase pages, a variety of listing options, and creator royalties.
Its user interface is in an art exhibition format, cutting down on clutter and keeping buyers' eyes focused on the product. Much like JPG Store, Tokhun offers its artist community easy-to-use NFT minting tools and an automatic auction system.
Tokhun a;sp distributes $TKHN, its native token, to its users for NFT minting and trading. But, over and above that, Tokhun has smart contract capabilities and rarity tool features, adding to its repertoire of tools for artists and collectors alike.
You can mint and sell Cardano NFTs on Tokhun by creating a Tokhun wallet and funding it with ADA. This NFT marketplace levies a 2.5% sales commission on trades and ₳2 on individual NFT listings.
The Galaxy of Art NFT marketplace is the newest kid on the block, launching in January 2022. It is an artist-oriented site designed to embody all aspects of an art auction site.
Additionally, it has a robust social element allowing creators and collectors to follow, converse with and support each other.
Galaxy of Art, like Tokhun, does not support external Cardano-compatible wallets. But unlike other platforms, it does not charge its user minting fees. Some of its other tools include various listing options, creator profiles, and timed auction features.
Cardano NFT marketplaces are silently taking over the sector. For example, its top 15 collections led by SpaceBudz are now worth over ₳195.73 million. Moreover, artists and collectors have traded 1,649,096 Cardano native assets on these platforms worth over ₳391 million in trade volume in less than a year.
In April 2022 alone, Cardano NFT marketplaces traded over 182,411 native assets worth around $27 million.
Explore our list of Cardano NFT marketplaces for more secure, cheaper, and faster NFT listing and trading services.