Avalanche (AVAX) is a blockchain platform that enables the creation and deployment of decentralized applications (DApps). Avalanche also allows for the development of digital assets known as Non-Fungible Tokens or NFTs. NFTs are unique,d digital assets that can be used in a variety of different ways. One popular use case for NFTs is in the development of digital collectibles. Avalanche NFT Marketplace is like any other NFT marketplace that allows users to trade NFT on the platform. In this article, we will take a look at 7 of the best Avalanche-based NFT marketplaces.
What are Avalanche and AVAX?
Avalanche is a Smart Contract Platform, a platform of platforms, and a Multi-chain network. It leverages the Avalanche Consensus protocol in combination with a Proof-Of-Stake (PoS) mechanism to protect the network against Sybil attacks.
The abovementioned combination enables the network to process up to 4500 transactions per second while reaching time-to-finality below 1 second. Time-to-finality is the time by which your transaction is completely processed and is irreversible. That’s especially important for financial applications, as someone doesn’t have to wait for one hour or a day to ensure that funds are transferred or transactions are processed.
Avalanche Primary network is comprised of 3 chains. The Contract Chain (C chain), Platform Chain (P Chain), and Exchange chain (X Chain). Avalanche ecosystem also allows anyone to deploy its own unique network of different blockchains with the subnet functionality.
AVAX is the native token on the Avalanche network that you can use to pay for gas fees when using a DeFi protocol or one AVAX NFT marketplace from the many NFT marketplaces we are going to present in this article.
What is an Avalanche NFT?
Avalanche NFT is like any other NFT you can find on any other Smart Contract platform. Currently, the majority of NFTs and NFT marketplaces in the Avalanche ecosystem are deployed on Avalanche C-Chain. Avalanche C-Chain is an EVM-compatible blockchain. This implies that Avax NFTs follow the same standard as the corresponding NFTs on the Ethereum Blockchain.
Briefly, NFTs are tokens that we can use to represent ownership of unique items. This item may or may not have value. Or may have value to some people, but no value to others. They can be used for both digital and real-world assets.
They allow us to tokenize almost anything, including art, collectibles, and even real estate. They can only have one formal owner at a time, and they’re kept secure by a Smart Contracts platform, like the Avalanche C-Chain or Avalanche blockchains within the Avalanche Network – no one can modify the record of ownership or create a new NFT from scratch.
What is an Avalanche NFT Marketplace?
An Avalanche NFT Marketplace is in essence an NFT Marketplace deployed on the Avalanche Network. It is like an exchange for NFTs that allows users to buy NFTs, sell NFTs, and in general trade NFTs on the Avalanche Network.
You can simply connect your non-custodial wallet to any of the Avax NFT Marketplaces in order to access the various services they provide. Different NFT Marketplaces provide different services and benefits to the users. Some allow users to launch new NFTs, some provide auctions -related functionality and others provide various services to investors to earn rewards.
The NFT scene on Avalanche is not something new. Some of the first NFT marketplaces appear on Avalanche Blockchain back in early 2021 with the Avalanche community being extremely active in NFT trading and in general the wider NFT space.
Without further ado, let’s jump into the list of the Best Avalanche NFT Marketplaces.
7 Best Avalanche NFT Marketplaces to Explore
Kalao is one of the most popular Avalanche NFT marketplaces with a nicely-done and refreshing user interface. Its goal is not to become just another Avax NFT marketplace, but rather to create an ecosystem within the Avalanche Network.
In addition to providing the basic functions such as minting, purchasing and selling NFTs on its platform, Kalao also has a virtual gallery that offers a more realistic viewing experience.
Kalao has its own native token KLO that allows users and investors to stake their tokens in exchange for getting reduced service fees while earning rewards at the same time.
When it comes to wallet support, Kalao allows users to use both Metamask, Coinbase Wallet as well as WalletConnect.
2. Trader Joe NFT Marketplace
Trader Joe is most probably the largest decentralized application on the Avalanche C-Chain. It started by providing basic swap functionality, but with time, the team kept releasing one feature after the other, with Trader Joe currently offering Trading, Lending, and Launching capabilities. The latest addition was the creation of the NFT Marketplace, what they call Joepegs.
Being the most popular platform on the network, allowed the release of its NFT marketplace to become immediately one of the most popular marketplaces. Currently, the second largest NFT marketplace by volume, as per DappRadar data. It is very likely that soon will take first place as it has some of the most popular Avax NFTs collections on the network, including Smol Joes, Smol Land, Satoverse, Avax Party Animals, Hoppers Game, Particle (Banksy)
NFTTrade is rather a global NFT marketplace that someone can find on many other networks, including Polygon, Ethereum, Binance Smart Chain as well as on Moonbeam and Moonriver within the Polkadot Ecosystem.
NFTrade being a multi-chain NFT marketplace, platform and aggregator, allows users from multiple networks to jump between networks while having a familiar NFT marketplace to use. This enables NFTrade to create a strong brand for itself.
NFTrade is currently the most popular among the Avalanche NFT marketplaces as by looking at the trading activity on DappRadar, currently, NFTrade has the largest NFT trading volume on Avalanche network.
The tofuNFT is a fully functional decentralized marketplace for buying, selling, and trading NFTs, developed by SCV.Finance and hosted on numerous blockchains.
The purpose of TofuNFT is to make it simple to trade NFTs while yet maintaining a high level of optimization. It’s a spinoff of SCV Finance’s NFT Marketplace, which began as a side project for SCV.Finance and has now evolved into one of the most popular Binance Smart Chain NFT marketplace.
TofuNFT is a completely revised NFT marketplace built on the team’s prior knowledge of SCV’s NFT Marketplace. It retains all of the benefits, such as quick loading and sophisticated filters, while adding numerous new features and improvements.
5. Element Market
Element Market, according to the team, is a decentralized NFT platform with secure transaction protocols, minimal gas expenses, and minimum transaction costs. It also keeps up with the competition by providing the newest and most sophisticated features.
It is one of the newest additions to the Avax NFT marketplaces that allows you to trade AVAX NFTs and provides the user with all the familiar functionality of an NFT Marketplace.
In addition to Avax Network, someone can find Element Market on Ethereum, Polygon, and Binance Smart Chain.
Snowflake is one of the first NFT Marketplaces together with YetiSwap to be deployed on the Avalanche C-Chain. As the name implies, it is an Avalanche native NFT marketplace, as, within the AVAX network, projects like to name their products with Snow-related names.
Someone can find all basic NFT marketplace functionality on Snowflake and you can use it to trade NFTs. Snowflake’s user interface is not the most elegant one, however, it is very simple and easy to use. You can still find a lot of popular NFT collections on Snowflake with fair trading volume.
7. YetiSwap AVAX NFT Marketplace
Yetiswap was probably the first Avalanche AMM DEX that also provided an NFT Marketplace on the network. I personally remember Yetiswap having its NFT marketplace deployed on the network in early 2021 and being one of the first avalanche NFT marketplaces (if not the first).
YetiSwap as an AMM exchange uses the same AMM formula as the ones found on Uniswap, Trader Joe, and Pangolin exchange.
When it comes to the NFT Marketplace, YetiSwap claims they are the only platform offering royalties to creators and collection owners on the Avalanche network.
YetiSwap allows you to create, exchange as well as stake NFTs for rewards and has a fairly good trading volume going on. You can use AVAX or its native currency YTS on the platform.
Closing, although Avalanche NFT landscape is not as big as the corresponding one on Ethereum, it is quite big and keeps growing. In this article, we explore some of the best places someone can start trading NFTs.
These were the more general-purpose NFT marketplace, however, there are also some very active that were built specifically for the needs of some project. For instance, the Crabada marketplace is most probably the biggest marketplace by volume, however, it was built for the purpose of exchanging Crabada in-game assets.
The list of the best NFT Avalanche Marketplaces is not exhaustive and will be updated on regular basis as the NFT landscape on Avalanche is changing.