Decentralized Market Places:

1 LooksRare (LooksRare.org) is an Ethereum marketplace that only accepts ETH cryptocurrency. The secondary sales marketplace is comparable with 100 wallets using wallet connect, which is permissionless and anonymous (hence the term decentralized). LooksRare received its initial funding from upset NFT traders that didn’t like the controversial insider trading, and NFT collection censorship that we’ve seen with the top NFT marketplace, OpenSea (opensea.io). LooksRare has a unique model for the NFT marketplace, which allows you to share the profit from the marketplace’s fees. The startup NFT marketplace’s revenue topped $8 billion in trading.

2 X2y2 (x2y2.io) is a secondary crypto marketplace, like LooksRare, which allows you to profit on marketplace fees. And like LooksRare, you would have to buy its native crypto token to stake on the platform. Volume for X2y2 to date has exceeded $2 billion (US dollars).

3 The king of NFT trading marketplaces is still held by OpenSea (opensea.io). There has been a lot of controversy surrounding the platform with the leaking of clients’ emails and personal information, insider trading, and project censorship from the self-proclaimed “decentralized” marketplace. Unlike LooksRare and X2Y2, OpenSea does not share any of its fees with the users of the marketplace. OpenSea has the majority of the market share for NFT trading volume and sales. With close to $40 Billion (US dollars) in value traded in its marketplace, OpenSea stands to be the top marketplace by user activity and sales. 4 An honorable mention would be Magic Eden. This NFT marketplace supports Solana and now Ethereum blockchain, but the majority of the sales volume is on the Solana blockchain network. With collections like Solpunks, one can see why it has been a force in the Solana NFT space. With a total trading volume of about $100 Million, it’s quickly becoming a contender in NFT marketplaces. (Contd...)