Ethereum remains the most popular blockchain for launching dApps, blockchain games, and NFTs. Despite its high fees, Ethereum represents one of the most battle-tested blockchains today, making it one of the most secure options for users and developers. Today, we look at the top five NFT markets on Ethereum, ranked by 30-day trading volume, from lowest to highest.
OpenPFP
Launched on March 28, 2022, OpenPFP is a massive Ethereum NFT marketplace built by top Metaverse cryptocurrency coin Radio Caca.
OpenPFP allows integration with its USM (United States of Mars) metaverse, which features 100 ready-to-use galleries for PFP/NFT projects, artists, NFT collectors, and DAO communities to display their art and organize community festivals.
As an Ethereum-based NFT marketplace, OpenPFP offers legendary collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, Terraforms, on1 force nft and more. It also offers the Metamon collection for Radio Caca’s Metamon game, which we recommend you check out.
X2Y2
Launched in January 2022, X2Y2’s vision is to build a truly decentralized NFT marketplace and give it back to the community. X2Y2 seeks to create a better alternative to OpenSea, challenging its monopoly.
X2Y2 seeks to address issues such as major markets focused on whales, not people, lack of transparency, and the abundance of washing trade, which inflates statistics for collections and markets in general.
The relatively new NFT marketplace featured an Airdrop for its token, issued to all OpenSea users, essentially launching a vampire attack seeking to trick existing users into switching to the alternative marketplace. Additionally, X2Y2 has limited staking rewards for curbing the wash trade and encouraging an honest ecosystem.
With a 30-day trading volume of $183 million, it is the fourth most-traded NFT market on the Ethereum blockchain. We suggest checking it out if you’re looking for a user-centric alternative to OpenSea.
Looks Rare
Launched in January 2022, LooksRare is another OpenSea alternative that caught the eye earlier this year. LooksRare is a community-first NFT marketplace that offers rewards to users who buy/sell NFTs.
The market offers its native LOOKS token, which can be staked for a significant APY of up to 101% and compounded up to 148% APY. The market allows users to earn a share of daily trading fees with WETH in the form of LOOKS, incentivizing user activity in the market.
A selling point for LooksRare is its much lower fees. Trading fees are around 20% lower than OpenSea. Users earn additional rewards by trading with LooksRare making it a viable alternative to the more popular Ethereum marketplace.
Additionally, it should be noted that LooksRare is not a fork of OpenSea, as its smart contracts are custom built into a modular system allowing new features to be rolled out over time. It also incorporates all-new on-chain standards like EIP-712 and ERC-2981, supporting the most robust and up-to-date NFTs.
LOOKS is the platform’s main utility asset, currently trading at $1.39 with a market cap of over $592 million, a testament to the huge potential and backing of LooksRare. We recommend checking out the platform if you are looking for an OpenSea alternative with lower fees and a great design.