OpenSea Vs. Mintable: Which NFT Marketplace Is Right for You? – Business Insider

opensea-vs.-mintable:-which-nft-marketplace-is-right-for-you?-–-business-insider

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OpenSea vs. Mintable: 

OpenSea and Mintable both offer options for individuals either looking to create and sell NFTs, or purchase and/or resell NFTs. Like OpenSea, Mintable gives creators the option to skip out on upfront fees when minting NFTs, and the two platforms give creators royalties whenever a collector resells their product on the secondary market.

But OpenSea has lower marketplace fees, and it gives its users access to a larger range of investment and payment options (e.g., it supports more than 150 payment tokens, including WhALE and uniswap). Mintable’s marketplace fees can either be 2.5%, 5%, or 10%, depending on the type of transaction/product. OpenSea, however, only has a 2.5% marketplace fee.

Mintable is a better choice when it comes to royalties and educational resources. Unlike OpenSea, it allows creators to set whatever royalties percentage they’d like, and it additionally provides a vast suite of educational courses, videos, and blog posts on all things NFTs and crypto.

Fees

2.5% (no service charge for buyers)

Fees

2.5% (no service charge for buyers)

Pros

  • No gas fees for NFT creators until users buy the product
  • Vast range of NFT collectibles and products
  • Hundreds of payment options (OpenSea accepts cryptocurrencies)
  • Buyers can make secondary sells and the original NFT creators can earn up to 10% in royalties

Cons

  • Limited customer support
  • 10% royalty is low compared to other platforms, like Rarible, that offer up to 50%

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More Information

  • Promotion: None at this time.

Fees

2.5% normal NFTs, 5% gasless NFTs, and 10% printable NFTs

Investment Types

NFTs (supports wallets through MetaMask, Trust Wallet, and Rainbow)

Fees

2.5% normal NFTs, 5% gasless NFTs, and 10% printable NFTs

Investment Types

NFTs (supports wallets through MetaMask, Trust Wallet, and Rainbow)

Pros

  • No fees to mint (create) NFTs
  • Creators can set any royalties rate they want
  • Mintable pro gives you access to advertising tools, custom stores, and 24/7 customer service
  • Beginners can use Mintable Academy to read educational articles about NFTs and more

Cons

  • No other blockchain support besides ethereum
  • Limited selection of supported crypto wallets
  • High marketplace fees

More Information

  • Promotion: None at this time.

OpenSea and Mintable’s features and account options also vary.

Is OpenSea right for you?

Founded in 2017, OpenSea is one of the largest NFT marketplaces. The platform provides a space where NFT creators can list and sell their items to collectors, while earning royalties on an secondary sales (i.e., creators earn extra money when collectors resell NFTs they’ve purchased). In addition, it offers cross-blockchain support for ethereum, polygon, and klatyn.

OpenSea also offers another perk that makes it stand out from most of its competitors: no upfront gas fees. Minting, or creating NFTs, requires energy since you’re essentially adding your product to the blockchain, and gas fees help compensate for the energy required to process transactions. With OpenSea, though, you won’t have to pay any fees until your NFT sells for the first time.

In addition, creators can earn 10% in royalties each time their product resells on the secondary market. This means that if a collector decides to purchase and resell your NFT, you’ll earn 10% of the sale.

Collectors will also have a vast range of options at OpenSea. The platform’s NFT categories include art, photography, collectibles, domain names, music, sports, virtual worlds, trading cards, and much more. Plus, it accepts more than 150 tokens as payment methods.

Read our OpenSea review »

Is Mintable right for you?

Formed a year after OpenSea, Mintable also connects NFT creators to collectors, and it offers a gas-free minting option. But unlike OpenSea, it only supports minting through the ethereum blockchain.

The platform offers more than 9,300 collections, including music, art, sports, videos, collectibles, and utility NFTs. And since you need crypto wallets to use NFT platforms, prospective investors should note that Mintable supports MetaMask, Trust Wallet, and Rainbow, amongst others.

Mintable also has a leg up on OpenSea when it comes to educational resources. You can access several crypto crash courses and educational videos through its Seller’s University, and Mintable Editorial functions as a digital library of all things NFTs.

Though it has higher marketplace fees than OpenSea, Mintable makes up for it with its flexible royalties rules. The NFT platform currently lets you set whatever royalties percentage you’d like, although it says most users set between 5-10%.

Read our Mintable review »

Rickie Houston, CEPF

Wealth-Building Reporter

Rickie Houston is a wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. He is also a Certified Educator in Personal Finance (CEPF). Previously, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »

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