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Opensea VS Mintable - How Do They Compare?
Both Opensea and Mintable are excellent options for browsing, buying, selling, and creating NFTs. The two NFT marketplaces feature very similar functions, but the difference is in the details. Let’s dive in deep and look at Opensea VS Mintable in how the platforms navigate and what they offer NFT creators and collectors.
What is Opensea?
You may have heard of Opensea as the giant of NFT marketplaces. It is one of the largest ones, that’s for sure, and it was founded back in 2017. As of now, there are around 35 million assets listed on the platform, with varying values you can check with the stats function like what we have on NFT Drops.
The platform was founded on the Ethereum blockchain, but within the last few years, it has worked to integrate other chains such as Solana, and also the Ethereum layer 2 solution – Polygon among others. NFT supporters can find various digital assets in the form of GIFs, trading cards and even virtual land in metaverses (virtual world) for sale.
Aside from being a marketplace where users can sell, bid, and buy NFTs, it’s also become a place to create and mint tokens.
What is Mintable?
As said, Mintable is also an NFT marketplace to browse coveted digital assets in various forms, and it has a minting feature as well. Mintable has gasless minting, Opensea also more recently supports that in its layer 2 solution, or with the Mintable gasless store.
Gasless minting, or lazy minting as it is also referred to, is a way for creators to mint their pieces without having to pay an upfront gas fee, which on Ethereum can be very high at peak times. Unfortunately for the buyers, the fee is offloaded to them at the time of purchase.
Opensea and Mintable Marketplace Comparison
Supported Currencies
The difference is in the details, so let’s start with the supported currencies of Mintable VS Opensea. Mintable is a marketplace also built on the Ethereum blockchain, so ETH is its primary currency. Opensea supports more currencies, with the core ones being ETH, DAI, USDC, and SOL.
User Base
There are dedicated NFT marketplaces out there that target a certain type of demographic, such as photography NFT platforms solely for photography digital assets. Does the audience for Opensea and Mintable vary?
Opensea is one of the largest and first NFT marketplaces, which contributes to its popularity. It also has a wide range of assets and a longer history, which attracts NFT creators and buyers far and wide.
Mintable caters to people who want seamless gasless minting and an easy platform to navigate. That’s not to say that Opensea is difficult to use, but with the likes of WETH (wrapped ETH) and other blockchain integrations, it can take some time to learn.
Gas and Minting Fees
Ethereum gas fees are high no matter how you look at it, especially during peak times. Platform fees are generally 2.5% across most sites, and it is true for both Opensea and Mintable. However, there are some other transaction fees that are involved with your deals and Mintable charges extra for its printable and gasless items.
Royalty Settings
NFT marketplaces usually allow creators to set royalty fees on their tokens for resale on the secondary market. This means if you are the original creator, you still make a percentage of secondary sales of your initial buyer when they sell it on another marketplace.
Opensea allows royalty settings up to 10% while Mintable gives 5%.
Supported Wallets
The wallets that are compatible with the platform speak volumes about convenience, and Opensea is the winner because it works with many crypto wallets such as MetaMask, Coinbase, Fortmatic, and Dapper. At the moment, Mintable only supports MetaMask.
FAQ
• Can I mint on Mintable and sell on Opensea?
Yes, you can mint on Mintable and sell on Opensea. Opensea has Mintable integration that can allow you to do that. You may need to pay extra transaction fees to do so, but you can transfer your NFT from Mintable to your wallet and display it on the Opensea platform.
• Is Opensea the best NFT marketplace?
Yes, Opensea is the best NFT marketplace – for Ethereum. It doesn’t support all blockchain ecosystems as of yet. If you are not primary an Ethereum person, perhaps another marketplace would make more sense. Otherwise, you can wrap your tokens.
Conclusion
Both Mintable and Opensea are great NFT marketplaces to create, list and sell your digital assets. Opensea does have a slight edge due to its reputation and history, but that doesn’t mean Mintable is any less trustworthy. If you’re looking for convenience, Mintable is great, but more pricing and fee options make Opensea a better choice.
