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Evaluating Top 5 NFT Marketplaces on Optimism Based on Unique Features

Non-fungible tokens, or NFTs, are unique digital assets that use blockchain technology to prove ownership and authenticity. The world of non-fungible tokens (NFTs) is rapidly evolving. As more people become interested in buying and selling these unique digital assets, the need for reliable and user-friendly NFT marketplaces has become increasingly important. Optimism, a layer-2 scaling solution for Ethereum, has become a popular network for NFT marketplaces due to its fast and cheap transactions, making it an ideal choice for buyers and sellers of NFTs. In this article, we’ll explore the top 5 NFT marketplaces on optimism and their unique features.

anotherblock

anotherblock is a platform that issues tokenized musical rights for popular tracks. It’s deployed on both Optimism and Ethereum. Holders of these tokens have the opportunity to purchase genuine royalty rights and earn a share of the revenue generated when the associated songs are streamed on platforms like Spotify and Apple Music. By enabling music fans and retail investors to access and invest in stable alternative assets such as music rights, anotherblock has made it possible to engage with assets that were previously difficult to access due to high investment thresholds. Individuals can now buy fractions of these assets and become co-owners of their favorite music tracks alongside the artists themselves.

Imagine owning a portion of your beloved song and earning royalties alongside your favorite artist. Royalties are the payments received by the owners (rightsholders) of music when their songs are streamed, for instance, on Spotify. These owners include labels, artists, producers, and songwriters. Royalties are typically distributed quarterly, bi-annually, or annually. As a general rule, for every million streams on streaming services like Spotify, the owners (rightsholders) of the song receive approximately $3,000 to $4,000. The distribution of these payments is based on each rightsholder’s ownership share, with labels typically being the largest rights holders.

anotherblock’s purpose is to make this market accessible to individuals like you. The platform believes that by creating an open and free market for buying and selling music rights, the value of music will increase. Simultaneously, artists can develop even stronger connections with their fans, who play a significant role in generating this value.

On anotherblock, owners (rightsholders) of music sell digital assets representing a portion of the economic ownership in songs. When you purchase a digital music asset, you become entitled to your share of the streaming royalties generated by that particular song. The purchase can be made using both credit card and Ethereum.

To begin the journey, one can follow these three simple steps:

Gain access to music ownership: On anotherblock, music creators have the opportunity to sell portions of their future royalty streams, granting individuals access to ownership in prominent tracks.

Acquire your share as an NFT: Transitioning from a mere music enthusiast to a music owner, one can purchase their share as a non-fungible token (NFT). This ownership entitles individuals to earn royalties whenever the songs are streamed and provides exclusive access to utilities tailored for owners.

Retrieve your royalties: At intervals of every six months, it becomes possible to claim the earned royalties. Additionally, users can track the performance of their songs directly from their profile, ensuring transparency and allowing them to stay connected with their invested assets.

The NFTs offered by anotherblock are ERC-721 tokens with a unique identifier. These tokens store the ownership percentage for each song on the blockchain. All associated assets are uploaded to IPFS storage and linked to each respective NFT.

When it comes to artists, the shift in ownership to individuals who genuinely love music brings about multiple benefits. First, it increases the overall value of music and provides artists with a clearer understanding of the worth of their rights. Consequently, future artists are less likely to agree to unfavorable deals where the label retains 80% of the rights. Additionally, artists can directly engage with the anotherblock community to secure funding for their next projects and involve their fans in the creative process.

The anotherblock community also reaps its fair share of rewards. The platform strives to deliver significant hits, allowing community members to co-own prominent tracks that instill a sense of pride and make them feel like esteemed record label presidents. As an NFT holder, individuals are entitled to receive royalties whenever the associated song is streamed. Also, anotherblock is committed to developing appealing exclusive utilities and incentives for community members. However, it’s important to note that the primary utility always remains the real-world assets represented by the NFTs: the ownership share of streaming rights. 

Zonic

Zonic is a specialized NFT marketplace tailored for Ethereum layer-2, providing a lightweight and efficient solution. With a focus on supporting the Ethereum Layer 2 ecosystem, Zonic enables individuals to create and launch their own NFT projects. The platform offers a seamless and user-friendly experience, making it easy for users to exchange their NFTs within this layer-2 environment. Zonic aims to streamline the process of NFT creation and trading, contributing to the growth and accessibility of the Ethereum Layer 2 ecosystem.

With unwavering dedication to creating lasting change, the Zonic team remains committed to ongoing development despite challenging market conditions. As they continue to build, they have noticed an increase in their involvement with layer-2 ecosystems and their respective decentralized autonomous organizations (DAOs).

Recognizing the significance of their engagement, they have decided to shoulder additional responsibility by officially registering as delegates for Optimism and Arbitrum. By doing so, they actively participate in the decision-making processes of these ecosystems, aiming to contribute to their growth and success.

For individuals who hold $OP or $ARB tokens in their wallets and share a belief in the team’s vision, they are encouraged to delegate their voting rights to them. By entrusting them with their delegation, they empower the team to represent their interests and make decisions that they believe will foster long-term adoption within the ecosystem.

NFTEarth

NFTEarth is an energetic and lively NFT protocol that focuses on NFTFi and layer-2 Ethereum scaling networks. The project has fostered a thriving community primarily on layer-2, with its flagship product Earthlings serving as a central component of the NFTEarth Metaverse. 

The project initially started as a free mint in December 2022 and since then has evolved into a cultural movement and Web3 digital citizenship, displaying significant potential for intellectual property and branding. The project has attracted a vibrant community comprising artists, builders, and storytellers. 

NFTEarth’s core objective is to promote layer-2 adoption and has gained recognition as a Web3 project, securing $200,000 in Cloud Credits from Google Cloud for Startups to build and expand the NFTEarth platform on the GCP Cloud infrastructure.

The primary focus of NFTEarth is to build the leading Ethereum L2 NFT marketplace and hub, expanding the Ethereum L2 NFT ecosystem while supporting L2 ecosystem projects. The DAO utilizes its treasury to invest in and collaborate with impactful L2 protocols and ecosystem initiatives, providing diversified opportunities for DAO members to participate in the growth of the L2 ecosystem.

NFTEarth’s preference for layer-2 stems from the advantages it offers, such as lower costs and the potential for greater Web3 adoption. With the increasing number of applications and users on Ethereum, the network’s capacity faces limitations. As a result, the cost of network usage rises as users compete to add transactions to the Ethereum network. Layer-2 scaling solutions play a vital role in addressing network performance issues, with various approaches being researched, tested, and implemented to achieve scalability.

NFTEarth boasts several NFT collections, including those created by the NFTEarth team itself. Notably, the Earth Drop Edition signifies NFTEarth’s foray into the NFTFi space on the Arbitrum layer-2 network. This ERC-1155 NFT on layer-2 serves as a requirement for staking in the initial NFTEarth Staking Rewards program. Holding this NFT offers additional benefits and perks, which will be unveiled over time based on community decisions. The Artwork chosen for this drop is “The Arbiter,” representing the foundational element of the Earthling NFT. 

Earthlings represent a collection of 4,444 NFTs and serve as the flagship NFT project within NFTEarth. These unique NFTs are created using generative AI technology on layer-2. Each Earthling is entirely distinct, generated through AI technology, and undergoes evolution based on conditional relationships that are met or unmet, influencing the NFT’s characteristics. The NFT also provides revenue sharing, known as “RevDrops,” directly to holders through smart contracts, fostering a close alignment of economic interests between holders and the long-term success of the project.

Unick

Unick is a groundbreaking platform in the world of NFTs, offering users a secure and streamlined experience for buying, selling, trading, and collecting NFTs across multiple blockchains. With its advanced marketplace aggregator, NFT launchpad, staking capabilities, and minting features, Unick serves as a comprehensive solution for all NFT-related activities.

Unick’s platform operates as a multi-chain NFT aggregator and launchpad, facilitating secure transactions and interactions across various blockchains, including Ethereum, Polygon, Arbitrum, Optimism, and more. It offers users a convenient and trustworthy avenue to engage in buying, selling, trading, and collecting NFTs.

The appeal of Unick lies in its revolutionary approach to the multi-chain NFT space, providing users with a seamless and secure platform for all their NFT needs. The marketplace aggregator, NFT launchpad, staking capabilities, and minting functionalities combine to create a comprehensive one-stop shop for the NFT community.

Unick caters to a diverse user base, including newcomers, traders, and collectors alike. Regardless of one’s level of experience, Unick offers a user-friendly marketplace that encompasses all major markets and blockchains. The platform boasts a simplified and intuitive interface, delivering a superior user experience without overwhelming users with complex charts or unnecessary gimmicks.

Unick’s platform brings together all major markets and blockchains in one place, eliminating the need for users to switch between different platforms. This consolidation simplifies the NFT trading process, making it more efficient and convenient for users.

Unick also offers a one-click token wrapper feature, streamlining the process of making offers on NFTs or collections. With a single click, users can wrap their tokens, enabling smooth and hassle-free transactions.

For those looking to sell their NFTs quickly, Unick provides an instant sell option, allowing users to sell their NFTs with just one click of a button. This swift selling feature ensures a seamless experience for sellers, reducing the time and effort required to complete transactions.

Unick is not only beneficial for buyers and sellers but also caters to artists and creators. The platform offers an easy onboarding process, designed specifically for artists without coding experience. Unick takes care of all the technical aspects, enabling artists to focus on their creativity.

Unick covers smart contract creation for ERC-721 or ERC-1155, ensuring that artists and creators have the necessary infrastructure to launch their NFT collections successfully.

In addition to its user-friendly interface and artist-friendly features, Unick offers competitive minting fees. Compared to competitors, Unick’s minting fees are approximately 25% lower on average, making it a cost-effective solution for creators looking to bring their NFTs to life.

Double Protocol

Double Protocol emerges as a fully decentralized and open-source NFT rental protocol and marketplace, catering to the assets of the Metaverse and GameFi.

Functioning as a platform for NFT rentals, Double Protocol addresses the growing demand to utilize NFTs beyond collectibles and art, particularly in games and metaverses. The platform envisions a future where users can “use” NFTs without needing to own them, an idea gaining traction with the GameFi guilds model. At the forefront of innovation in this space, Double Protocol advocates for new ERC standards such as ERC-4907 and ERC-5006, extensions of ERC-721 and ERC-1155, respectively. These standards enable secure NFT rentals without requiring collateral.

For Guilds, Double Protocol offers several advantages. There is no initial investment required, eliminating the financial barrier to entry. Automatic accounting ensures instant distribution of earnings as transactions are executed. Guild managers benefit from a powerful dashboard equipped with flexible analytics tools, providing insights into the guild’s financial performance. Additionally, token issuance and on-chain governance processes are simplified, empowering guild managers to operate as a decentralized autonomous organization (DAO). Liquidity mining can be enabled effortlessly, allowing guilds to select incentive structures that align with their growth objectives.

For Projects, Double Protocol facilitates a lower barrier to entry for users, reducing the cost of user participation through leasing and expanding the potential user base. The protocol also empowers NFT holders to earn rental income, enhancing the stability of the project’s economy. Notably, Double Protocol adheres to industry-recognized standards, with EIP-4907 and EIP-5006 fully compatible with the rental NFT standards of EIP-721 and EIP-1155, respectively.

Double Protocol operates in a fully decoupled manner, eliminating the need to rely on software development kits (SDKs) or integrate with external systems, ensuring a trustless experience. With a simple one-click deployment process, all rental-related contracts can be automatically deployed, streamlining the setup for projects utilizing the platform.

Conclusion

In the rapidly evolving world of NFTs, reliable and user-friendly marketplaces have become crucial. Optimism, a layer-2 scaling solution for Ethereum, has gained popularity among NFT marketplaces due to its fast and cost-effective transactions. This article explored the top 5 NFT marketplaces on Optimism, highlighting their unique features and contributions to the NFT ecosystem. From anotherblock’s tokenized musical rights to Unick’s multi-chain capabilities, each platform offers innovative solutions to enhance the NFT experience. Whether it’s renting NFTs on Double Protocol or utilizing Zonic’s lightweight marketplace, these platforms cater to the diverse needs of NFT buyers, sellers, and creators.

FAQs

What is Optimism?

Optimism is a layer-2 scaling solution for Ethereum that aims to improve scalability and reduce transaction costs. It enables faster and cheaper transactions, making it an attractive network for NFT marketplaces.

Why are NFT marketplaces deploying on Optimism?

NFT marketplaces choose Optimism for its fast and cost-effective transactions, which enhance the user experience. By deploying on Optimism, these marketplaces provide buyers and sellers with an efficient and reliable platform to trade NFTs.

What are the benefits of using NFT marketplaces on Optimism?

Using NFT marketplaces on Optimism allows users to enjoy faster transaction confirmations and lower fees compared to the Ethereum mainnet. This enhances liquidity and accessibility for NFT trading, providing a seamless experience for participants.

What unique features do NFT marketplaces on Optimism offer?

NFT marketplaces on Optimism often provide multi-chain capabilities, enabling users to trade NFTs across different blockchains seamlessly. They also leverage the benefits of Optimism's layer-2 scaling solution, such as reduced congestion and improved scalability.

How do NFT marketplaces on Optimism contribute to the NFT ecosystem?

NFT marketplaces on Optimism play a vital role in expanding the NFT ecosystem by providing reliable platforms for buying, selling, and trading NFTs. They contribute to the growth of the NFT market and increase accessibility for both creators and collectors, fostering innovation and adoption within the space.

Our content is derived from a thorough research, yet we acknowledge the potential for deserving businesses to be overlooked. If you’re a business owner or a reader who believes a valuable business is missing from our list, write to us at [email protected].

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