Best NFT Marketplaces for Algorand

by | Fact Checked

Binance is a reliable platform to buy and exchange crypto instantly, while Ledger Nano X is a secure hardware wallet for keeping digital assets and currency safe.

Algorand and FIFA franchise teamed up as blockchain partners.

Algorand is a smart contract protocol that uses Pure Proof-of-Stake to tackle the blockchain trilemma of decentralization, scalability and security.

It was designed to be used as a major payment processor, and provides infrastructure for decentralized finance.

Its official native token is popularly called ALGO.

Like many of the leading top 50 crypto projects in the market, Algorand’s platform with its cryptocurrency ALGO was founded in 2017 by Silvio Micali.

If you’re not familiar with Silvio Micali, then you should know that he’s a professor at MIT in Boston.

He’s also known to be a world-renowned cryptographer.

Considering many projects being run by young males with little academic background, the Algorand is definitely one of the more prolific exceptions.

The main objective of Algorand is to function as an alternative to major payment solutions like Mastercard and Visa.

One of the aspects that Algorand promotes very heavily is its consensus mechanism which it calls Pure Proof-of-Stake.

Pure Proof-of-Stake (PPOS) uses randomness to increase network security.

This protocol allows it to be more efficient and scalable than other platforms that doesn’t have immediate finalized transactions features.

It achieves this in a decentralized way by:

  • Using relay nodes for efficient communication paths
  • Incorporating participation nodes
  • Prohibiting forks of the Algorand blockchain
  • Reducing data load by continuous compression
  • It markets itself as the greenest blockchain, claiming to be carbon-negative.

That being said, all it means is that they are buying more carbon credits than they are productively emitting.

It does not mean that their blockchain is actually free of any carbon footprint itself.

Algorand is not exactly the first thing that comes to mind when someone think of non-fungible tokens.

Of course, people are aware that there are NFT ecosystems on all sorts of blockchains out there.

But not many people will necessarily start looking for Algorand NFT marketplaces at first.

However, the recent announcement regarding the FIFA partnership is complete different from what everyone expected.

Football being one of the obvious potential applications for NFTs, we wouldn’t be surprised if Algorand ends up being FIFA’s enabler for NFT licensing deals.

And who knows, maybe you’ll end up exchanging NFT on Algorand marketplace sooner than you think.

Top Algorand NFT marketplaces

Below are some of the top NFT marketplaces built on Algorand based research to compile a helpful list for you.

1. Algogems

It offers a very clean and most visually appealing NFT marketplace user-interface within the ecosystem.

It’s an open NFT marketplace (Algorand blockchain based), meaning that you don’t need to be a verified artist to list your NFTs.

It offers zero-fee NFT creation, as well as very low transaction fees.

Key features are:

  • Various listing options
  • Minting tools
  • Free minting
  • Creator royalties
  • Collection pages
  • Native $GEMS token incl. governance
  • 0.001 ALGO fee on trades.

2. AB2 Gallery

Yet another nice decentralized Algorand NFT marketplace that allows you to list your minted artwork as NFTs.

It’s not as slick as Algogems, but it gets the job done and is enough for those who just want to experiment with NFT minting.

Unfortunately, the only way to explore the marketplace is searching for specific words, or browse through its various pages.

This makes it a bit difficult to see what sort of collections are actually available.

Features include:

  • Basic listing options
  • Creator royalties
  • Verified artists
  • 0.001 ALGO transaction fees
  • IPFS support
  • No platform fee.

3. ALGOxNFT

This platform markets itself as the leading decentralized Algorand NFT marketplace in the crypto-sphere.

Unfortunately, we’re not sure what this claim is based on, therefore, it’s rather difficult to verify.

They have a fair amount of NFTs and collections listed on the site.

We’re not huge fans of the user interface and overall navigation, but it looks like enough people seem to enjoy it.

Features include:

  • Various listing options
  • Creator royalties
  • Collection pages
  • Listing fee of 0.25 ALGO
  • 3.5% service fee.

4. Dartroom

This particular marketplace tries to keep it simple with a very straightforward user interface for its users.

We’re not sure how intuitive it really is given that most people are used to a different style of layout for NFT marketplaces.

Nevertheless, it’s a breath of fresh air in an ocean of rather repetitive concepts.

Its features include:

  • Various listing options
  • Minting tools
  • Creator royalties
  • Artist profiles
  • Collection pages
  • Strongly moderated content
  • 5% service fee
  • IPFS support.

5. Abris

The next Algorand NFT marketplace on this list, which its objective is to enable innovative creators to showcase their work.

Although it has a smaller following than some of the other marketplaces, its navigation feels familiar and covers most key bases.

It is also the very first platform that we’ve seen that actively promotes NFTaaS (i.e. NFT as a Service) to organizations.

Features include:

  • Various listing options
  • Minting tools
  • Collection pages
  • Featured artists
  • NFTs as a Service
  • 5% creator royalties
  • 10% fee on primary sales.

6. Rand gallery

The Algorand non-fungible token marketplace comes across a bit like a simpler version of ALGOxNFT.

Its Algorand NFT marketplace is limited to a search field, popular collections, new listings, and a rather basic discovery area.

Trading volume seems to be limited, so it’s probably not the best place if you’re looking to actively trade NFTs.

Features include:

  • Basic listing options
  • Collection pages.

Final thoughts

Algorand may not be the first place you’d look for a blooming NFT ecosystem, but there are people who love the low-fee environment.

We’re not entirely sure that the current Algorand NFT marketplaces will necessarily satisfy those who have grown accustomed to OpenSea, LooksRare etc.

Nevertheless, we’re curious to see where the new FIFA partnership leads, and how it will impact the overall ecosystem.

About the Author:

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