Joepegs is the largest and most popular NFT marketplace on the Avalanche blockchain which was released in January 2022. Their marketplace hosts the widest variety of AVAX NFTs which include popular collections like Chikn NFT, Joepegs, Smol Joes, Chad Doge, Smol Creeps, Avalanche Party Animals (APA) and many others.
The Joepegs marketplace charges a modest 2.5% fee and an additional 'creator royalty fee' which is set by the seller of the specific NFT collection. If you are looking for the best overall NFT marketplace on Avalanche, Joepegs is the clear winner.
Some of the other key features of Joepegs include:
- LaunchPEG: An NFT launchpad that is capable of minting collections of up to 10,000 and hosting a range of different styles of dutch auctions for new artists.
- Mint: A minting application that will allow any user to permissionless;y create and mint NFTs on the Avalanche blockchain to sell at a fixed price on the Joepegs Marketplace.
- White List: A whitelisting function that will allow collections launching on Joepegs to whitelist certain wallet addresses and provide specific community members with exclusive perks such as discounts, early access and more.
OpenSea is the second most popular NFT marketplace on Avalanche by volume and is the largest NFT marketplace on the Ethereum blockchain. OpenSea deployed their marketplace on Avalanche in September of 2022 and it quickly grew to be the second most popular destination to trade NFTs on AVAX.
OpenSea does not have an NFT launchpad like Joepegs but they do offer a "Mint" function that allows users to easily mint and list their own AVAX-based NFTs. OpenSea also charges a 2.5% fee on all NFT sales and also has a " creator fee" which is set by the seller of the specific NFT collection.
Kalao is the third most popular NFT marketplace on Avalanche and was launched in early 2021. Their platform is exclusive to the Avalanche blockchain and offers a wide variety of collections from AVAX-native artists that are loyal to the EVM-based network. It offers a very similar experience and set of collections to Joepegs, with slightly lower marketplace fees at 2% per trade.
Kalao is also one of the few NFT Marketplaces that have their own crypto token called Kalao (KLO). Investors of the KLO token can stake it on the Kalao platform to earn revenue share from sales of the marketplace, making it a great investment for users who are bullish on the growth of NFTs on the Avalanche network.
NFTrade is a multi-chain NFT Marketplace that is available on Avalanche, Ethereum, Polygon, BNB Chain, Arbitrum, Optimism and many other networks. It is a popular alternative marketplace for users on Avalanche that also like to trade NFTs on a variety of other layer 1 and layer 2 blockchains.
One key advantage of NFTrade is that they charge zero marketplace trading fees. However, this means that not many NFT artists are too keen to release their collections on the platform because they do not earn enough royalties to sustain the development of their digital art.
Why are NFTs on Avalanche Popular?
The Avalanche blockchain is the EVM-compatible smart contract platform that is capable of processing over 4,500 transactions per second with near-instant finality. This makes it an ideal network for trading NFTs which often need to be quickly exchanged hands due to their digital scarcity.
In addition, the native AVAX token is used to pay for gas fees on the network which are very cheap compared to other smart contract platforms. This makes it more affordable for users to buy, sell, or mint their own NFTs without having to spend a lot of money on transaction fees.
The Bottom Line
In conclusion, the Avalanche blockchain is quickly becoming a popular destination for NFT trading. With its fast transaction speeds and low gas fees, it is an ideal platform for buying, selling, and minting NFTs. The four NFT marketplaces outlined in this guide - Joepegs, OpenSea, Kalao, and NFTrade - provide users with a variety of options for trading NFTs on the Avalanche blockchain.
Whether you are a seasoned NFT collector or just getting started, these marketplaces are worth exploring to find the right fit for your needs. With the continued growth of the NFT industry, it will be exciting to see how these marketplaces and the Avalanche blockchain evolve in the coming years.