Table of contents
Solana
1.1 Magic Eden
Overall：
Magic Eden is a Solana blockchain-based NFT trading platform. Solana is known as the "Ether Killer" due to its unique advantages of fast transaction speed and low transaction fees. Magic Eden, which was founded in September 2021, has grown to become the largest NFT trading platform on Solana and is regarded as "OpenSea on Solana."
Roadmap：
Features：
o Carry out multi-chain expansion and enter the ETH market based on the Solana blockchain.
o NFT minting can be done through the Launchpad platform provided by Magic Eden, which can get the largest market exposure on the Solana blockchain and reach more buyers.
o The Magic Eden platform covers 90% of the game NFT transactions on Solana, and cooperates with other game projects to launch the game empowerment platform Eden Games.
o Magic Eden discloses its technical achievements to the entire ecosystem. Project parties who want to build an NFT market on Solana can directly use Magic Eden's white label solution. Currently, NFT markets such as Thugstore and Raydium are supported by Magic Eden.
o Launched MagicDAO and airdropped over 3w Magic Tickets to early users and supporters. This NFT serves as a certificate for community users to participate in MagicDAO.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of active wallets, transaction, volume, and historical activity data on the Magic Eden platform within 7D. Within 7D, Magic Eden's UAW is 138.62k, with 5.1 million transactions and a volume of $17.71 million. The volume is in a stage of continuous fluctuation, and on April 27, 2022, it reached the highest single-day volume of $28.02 million.
Data source：https://solanafloor.com/markets
The graph above depicts the volume, sales, and listings of various NFT trading platforms on the Solana blockchain. Among them, Magic Eden has a market share of more than 90%, making it the largest NFT trading platform on Solana.
1.2 Solanart
Overall:
Solanart, the first NFT trading platform launched on the Solana blockchain in June 2021, uses SOL as the trading currency. Allow Solana chain users to display and trade collectible NFTs.
Features：
o The handling fee is high, and the platform charges a 3% handling fee for each transaction.
o The platform adopts the audit system, and creators need to apply for listing to the platform. After the audit is passed, NFT collections can be listed, resulting in high quality of NFTs on the platform, but relatively few types.
o Users need to download a wallet that supports the Solana blockchain to purchase NFTs on the Solana platform, setting certain restrictions on user participation.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of active wallets, transaction, volume, and historical activity data on the Solanart platform within 7D. Within 7D, Solanart's UAW is 7.72k, with 51.48k total transactions and a volume of $2.95M. The volume reached its peak on August 31 and October 3, 2021, with a single-day highest volume of $29.98 million. Since then, volume has stabilized after a cliff-like decline.
UAW peaked on October 7, 2021, with around 18.04k active wallets and has since declined. As of October 13, 2022, the total UAW in 7D has reached 7.72k, which is far lower than the highest UAW in a single day. The UAW drop also kept trading volumes low.
1.3 Solsea
Overall：
The Solsea platform, launched in November 2021, is one of the largest NFT trading platforms on the Solana blockchain. Solsea supports users to mint, sell, and buy NFTs, and provides enterprise service data for some exchanges.
Features：
o It supports a variety of payment methods. In addition to SOL, it also supports various encrypted assets such as USDC and USDT.
o The tokenization of NFT assets is realized. Even if NFT assets can be divided and traded like other encrypted assets, creators and consumers who hold part of the rights and interests can obtain benefits.
o The handling fee is low. If enough AART tokens are pledged, the handling fee can be reduced from 2% to 0%.
o The platform launched the First 100 virtual NFT art exhibition to attract users and early adopters of the platform.
o There is a wide variety of NFTs, with breakdowns of categories and sub-categories, as well as picture NFTs that can only be viewed by people over 18 years old.
Market statistics：
The figure above shows the number of active wallets, transaction, volume, and historical activity data on the Solsea platform within 7D. In 7D, Solsea's UAW is 758, the total number of transactions is 6.4k, and the volume is $96.09k. On October 1, 2021, the volume reached the highest single-day volume of $1.15 million. Since then, volume has leveled off after the volatility dropped.
The transaction peaked on October 8, 2021, with around 45.6k transactions and has since declined. As of October 13, 2022, the total number of transactions in 7D reached 6.4k, and the number of transactions in August this year increased slightly to 18.7k.
Summary:
Magic Eden is currently the largest NFT trading platform based on the Solana blockchain. Volume is much higher than other trading platforms in 7D, 30D and Total Volume. Compared with Solanart, Solsea has more flexibility in payment methods and a wider category of NFT types, but Volume is still much lower than the Solanart platform. This is not only related to the number of users on the two platforms, but also to the average price of NFTs sold on the platforms. The average price on Solanart is $898.98, while the average price on Solsea is $177.66, that is, the average price on Solanart is 5 times of Solsea’s.
Solanart's 7D volume accounts for 16.7% of Magic Eden's 7D volume, 30D volume accounts for 7.7%, and total volume accounts for 36.9%. Compared to Magic Eden, Solanart has a recent upward trend, but due to the large volume gap between the two, Solanart is still unable to catch up in a short period of time.
For the NFT trading platforms based on the Solana chain, relying on the high performance of the Solana chain itself, the advantages of these trading platforms are becoming more and more obvious. However, although there are many trading platforms emerging at present, Magic Eden is still in a dominant position. We could wait and see whether there are new platforms coming in to break this situation.
2. Polygon
2.1 element
Overall：
Element is the first community-driven aggregation marketplace that aggregates mainstream marketplaces to save time and money. Help users save Gas Fees by optimizing smart contracts, batch pending orders, and cancellation functions; provide users with better liquidity by aggregating mainstream market liquidity and cross-market pending orders; and minimize users' transaction costs through zero handling fees and transaction incentives.
Roadmap：
features：
o Supporting multi-chain NFT transactions, including ETH, Polygon, BNB Chain, Avalanche, Solana (coming soon)
o Display the project data on different chains, and integrate the data on the chain; at the same time, the time is refined, and the shortest time is 5 minutes; and the specific number of transactions, the number of buyer addresses, the number of giant whales and the number of pending orders are displayed.
o Batch listing is supported, and 4 platforms can be listed at one time: element, OpenSea, LooksRare, X2Y2.
o The handling fee is 0%, which is the NFT trading platform with the lowest transaction fee at present.
o There are various forms of incentive activities, including lottery, listing incentive, pending order collection incentive, transaction incentive, friend invitation incentive, check-in incentive, airdrop incentive and upcoming whitelist activities, and the number of token incentives for different activities is different.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of active wallets, transaction, volume and historical activity data on the element platform within 7D. In 7D, the UAW of element is 12.88k, the total number of transactions is 21.04k, and the volume is $1.25M. The volume has fluctuated and increased since July 21 and reached a single-day highest volume of $4.62 million on September 30, 2022.
2.2 PlayDapp Marketplace
Overall:
PlayDapp is a blockchain game company in South Korea. PlayDapp Marketplace is an NFT-based C2C trading market launched by it to support the transaction of game NFT and other blockchain-based digital assets within the blockchain. On the PlayDapp Marketplace platform, users can freely sell and buy game items and convert them into digital asset NFTs.
Features：
o Supports multi-chain NFT transactions, including Polygon, ETH, Solana (coming soon).
o Focus on the vertical segment of game assets. All PlayDapp games are interoperable, and users can use their own NFTs to enjoy different game combinations.
o In addition to trading game items in the marketplace, the value of NFTs can also be increased by upgrading, merging, and strengthening them.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of users, transaction, volume, and historical activity data on the PlayDapp Marketplace platform within 7D. Within 7D, PlayDapp Marketplace has 5.82k users, 23.23k total transactions, and a volume of $91.08k. The volume reached the highest single-day volume of $670.22k on September 23, 2021, and the platform volume has been in a state of volatility since then. On September 7 of this year, the number of platform transactions peaked at 4.5k, and the overall trend has been climbing recently.
According to DappRadar data, currently on the Polygon chain, the 30-day volume of PlayDapp Marketplace is not much different from that of OpenSea, ranking second temporarily. Compared with other comprehensive NFT trading platforms, the vertical segment has more opportunities to stand out and occupy a high position.
2.3 NFTify
Overall：
NFTify is a platform that assists users in creating NFT markets, provides all the tools required to create NFT storefronts, and encourages NFT creators to launch their own NFT markets so that NFT creators do not have to rely on third-party NFT trading markets to sell NFTs and have more opportunities to create their own brands.
Roadmap：
Features：
o Low threshold for use. Users who open a store on the NFTify platform do not need to know any coding, and there is no coding involved when registering, customizing and setting up a store with marketing tools.
o Low cost to use. NFT creators do not need to provide a fee for launching an NFT marketplace, and the store creation process is free, so businesses can enjoy the full services of the NFTify platform at a lower cost. Only more advanced features, such as marketing analytics tools, need to be unlocked for a fee.
o With resale function. Buyers in the platform store can resell NFTs to other buyers, i.e. buyers and sellers can freely trade and transfer NFTs.
o Store customization. The NFTify platform offers customization capabilities, providing store designs that match the corporate brand identity. Such as theme customization, custom token payment and other functions.
o Supports multi-chain transactions, allowing users to build their own stores on multiple blockchains such as Polygon, ETH, BNB Chain, etc.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of users, transaction, volume, and historical activity data on the NFTify platform within 7D. Within 7D, NFTify has 195 users, 348 total transactions, and a volume of $6.66k. The platform volume has been in a state of volatility, reaching a single-day highest volume of $22.03k on April 29 this year.
Summary:
Polygon is a public chain built on the layer2 expansion solution on Ethereum. Compared with Ethereum, it has advantages in speed, scalability and usability. Polygon focuses on the field of blockchain games and NFTs, which is why we see the rise of PlayDapp Marketplace, an NFT platform based on blockchain games. In addition, most NFT trading platforms based on Polygon have carried out multi-chain expansion. When Ethereum is the mainstream, supporting multi-chain transactions is a major consideration for many trading platforms.
3. BSC
3.1 tofuNFT
Overall:
Created by SCV.Finance and deployed on multiple blockchains, tofuNFT is an NFT trading platform focusing on GameFi and NFT collectibles. It is currently the largest multi-chain NFT market, supporting more than 30 EVM-compatible public chains. It has become one of the top NFT trading markets on the BSC chain.
Features：
o Telegram notifications: When users connect to telegram, the platform can send notifications to users when items are sold, auctions are won, bids are exceeded, etc., to avoid users missing important content.
o Has a powerful filter panel. You can select a collection in the filter panel, the NFT properties of this collection will be displayed in the filter, and you can filter out the exact NFT by specifying the properties.
o NFT activity history display. On the NFT details page, there is a history of the NFT's past activity. Such as how many times it has been sold, or how many times it has been auctioned, the parties to the transaction and other information, to quickly understand the value of the NFT.
o Has the ability to find similar NFTs. When users find attractive NFTs but are not satisfied with the price, they can click the "find similar" button on the page to help users quickly find similar NFTs.
o Supports multi-chain NFT transactions, as shown in the figure below.
Data source：https://dappradar.com/rankings/category/marketplaces
The above figure shows the number of active wallets, transaction, volume and historical activity data of the tofuNFT platform within 7D. Within 7D, the UAW of tofuNFT is 5.68k, the total number of transactions is 16.18k, and the volume is $220.41k. The platform hit its peak single-day volume of $4.33 million on December 7, 2021 and has remained volatile since then.
3.2 Liquidifty
Overall：
Liquidifty is a cross-chain NFT marketplace designed to provide different tools for NFT collectors. Liquidifty is not only a trading market for buying and selling NFTs, but also creates maximum value for users' assets through a series of cutting-edge tools. It ranks among the top three in the current BSC chain.
Features：
o Cross-chain NFT oracle: By using the cross-chain NFT oracle, analyze the prices of NFTs on different blockchains and evaluate the prices of NFTs held for users.
o NFT mortgage loan: The NFT price is estimated by the NFT oracle, and users can mortgage the NFT to obtain funds.
o Multiple Ownership: Through the Liquidifty platform, users can collaborate and split purchases, i.e., there will be a multi-signature address on the NFT that will be purchased, and the co-owners will share all profits.
o Support multi-chain NFT transactions. The platform allows buying and selling NFTs on BSC, ETH, Polygon chains.
Market statistics：
Data source：https://dappradar.com/rankings/category/marketplaces
The figure above shows the number of active wallets, transaction, volume, and historical activity data on the Liquidifty platform within 7D. Within 7D, Liquidifty’s UAW is 5.28k, the total number of transactions is 9.79k, and the volume is $1.65M. The platform volume reached the highest single-day volume of $464.64k on October 14, 2021, and has been declining since then, and began to fluctuate and rise in September this year.
Summary:
Data source：https://dappradar.com/rankings/category/marketplaces
This article analyzes several large NFT trading markets on Solana, Polygon and BSC respectively. Among them, the NFT trading platform on the Solana chain has obvious advantages. Compared with the NFT trading platforms on other chains, on Magic Eden, users, transaction, and volume far exceed other NFT trading platforms.
Since the current mainstream NFT projects are all on Ethereum, the main trading platforms on the Polygon and BSC chains have basically carried out multi-chain expansion, while the main NFT trading platforms on Solana are rarely expanded, which shows that Solana has obvious performance advantages. The projects and user base on its blockchain are also large enough, and it is the blockchain that is most likely to compete with Ethereum.
In addition to Ethereum, there are currently at least 40 public chains or side chains to choose from. These chains may have their performance advantages or have extremely low Gas Fees, but since mainstream NFT projects are still on Ethereum, and it has accumulated many user groups, so it is difficult for these chains to compete with Ethereum. However, once a large NFT project is released on these chains, they have the opportunity to become a real competitor to the Ethereum network. Will there be a certain chain in the future that will become the second Ethereum, or even surpass Ethereum? We can look forward to it…
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