You love NFTs, right? But you don’t love paying high fees, waiting for transactions, and dealing with network congestion on Ethereum. That’s why you need to check out Arbitrum.
Arbitrum is a layer-2 that makes Ethereum faster, cheaper, and more scalable. It uses an optimistic rollup to process transactions off-chain and then send them to Ethereum in batches.
According to Defillama, Arbitrum has become a popular network with over $2.14 billion locked in various DeFi projects on the network. It has vibrant and diverse NFTs, with many marketplaces and platforms offering amazing digital art, games, music, and more.
We will show you some of the top NFT marketplaces on Arbitrum blockchain that you should know.
List of Top NFT Marketplaces on Arbitrum
- TofuNFT: Overall Best NFT Marketplace on Arbitrum
- Opensea: Top High-Volume NFT Platform on Arbitrum
- Gumball Protocol: Top NFT Liquidity Marketplace on Arbitrum
- Element Market: Best NFT Launchpad on Arbitrum
- Shift (Smolsweep): Popular Arbitrum NFT Marketplace Aggregator
- OKX NFT Marketplace: Best Multi-Chain NFT Marketplaces
Comparison between Top Arbitrum NFT Platforms
|Marketplace||Supported Chain||Fees||Arbitrum chain Volume (30-day)|
|TofuNFT||30+||Up to 5% per trade||$142k|
|OpenSea||8 (Ethereum, Arbitrum, etc.)||2.5%||$811k|
|Gumball Protocol||Arbitrum||2.5% swap fees||$1.62k|
|Element Market||5 chains||0.5%||$16.79k|
|Shift (Smolsweep)||Arbitrum and Ethereum||0.75%||$97.12k|
|OKX NFT Marketplace||8||No platform fees (only royalty charges)||$9.04k|
Data Source: Dappradar
Reviewing The Top Arbitrum NFT Marketplaces
Now, let’s discuss some of the best Arbitrum NFT marketplaces where you can find high trading volume and engage in buying and selling NFTs collections.
Further read: 5 Best Cardano NFT Marketplaces
TofuNFT: Overall Best NFT Marketplace on Arbitrum
TofuNFT is a multichain NFT marketplace that supports more than 30 public chains. These chains are all compatible with Ethereum Virtual Machine (EVM). That means you can use the same ETH wallet and tools to interact with them.
One of the chains that TofuNFT supports is Arbitrum. It’s a Layer-2 scaling solution. You can find many unique and amazing NFTs on Arbitrum. For example, there is the Arbitrum Odyssey NFT collection. It has 10,000 artworks based on the story of Arbitrum. It is also one of the best NFT marketplaces for artists and photographers.
TofuNFT also has many other features and resources to help you with your NFT journey. You can see the ranking of the most popular NFTs, apply for launching your own NFT project, and get verified as a trusted creator or seller.
OpenSea: Top High-Volume NFT Platform on Arbitrum
Opensea is the biggest marketplace for Ethereum, Arbitrum, and Polygon NFTs. OpenSea started supporting Arbitrum on September 2022. It was the fifth network to join the platform, after Ethereum, Solana, Polygon, and Klaytn.
On OpenSea, you can find amazing NFTs from different categories like digital art, gaming, and domains. You can buy and sell NFTs with ARB ETH tokens. You can also make your own NFTs with OpenSea’s easy tools and platform.
It also helps you build web3 apps using NFTs if you are a developer. To buy NFTs on the Arbitrum network, you need to convert some of your ETH to Arbi ETH using the OpenSea interface.
Gumball Protocol: Top NFT Liquidity Marketplace on Arbitrum
Gumball protocol was launched in 2022 and it works on the Arbitrum chain. It uses a special mechanism called the Gumball bonding curve to make NFTs liquid. Liquid means that you can easily buy and sell them without relying on a marketplace or an auction.
How does it work? Well, every NFT collection on Gumball protocol has its own ERC20 token called GBT. When you mint an NFT, you also get some GBTs. When you sell an NFT, you burn some GBTs.
The price of GBTs depends on how many are in circulation, which is determined by the bonding curve. The bonding curve also keeps some of the liquidity in the system, so that you can always trade your NFTs for GBTs or vice versa.
Gumball protocol also has other features that make it more attractive for NFT lovers. For example, it allows you to use your NFTs as collateral to borrow or lend money in the DeFi market.
Another example is that it partnered with IQ Protocol to offer rental NFTs for the Gumball 3000 ecosystem, which is a famous entertainment group. This means that you can rent out your NFTs to other users for a period of time and earn passive income.
Element Market: Best NFT Launchpad on Arbitrum
Element Market supports various chains such as Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, zkSync, and Bitcoin (not launched yet). It is a community-owned NFT marketplace.
You can enjoy the best prices, lowest fees, and fastest transactions when you collect or create NFTs on Element Market. You can also get rewarded by trading, staking, and joining Launchpad and mystery box events.
It also gives exclusive services for project partners such as verified collections, launchpad, and certification. Element Market is run by a decentralized autonomous organization (DAO) that gives the community the power to make decisions and proposals.
Shift (Smolsweep): Top Arbitrum NFT Marketplace Aggregator
Shift is the NFT marketplace aggregator on Arbitrum and Ethereum. It used to be called Smolsweep, but they changed their name to reflect their bigger vision.
Some key features of the Shift marketplace are:
- It searches through all the top Arbitrum NFT marketplaces and shows you the lowest prices.
- You can sweep multiple collections in one go.
- Whether the NFTs are priced in Ethereum or Magic (a stablecoin on Arbitrum), you can buy them all with one transaction.
- It can keep your funds and assets safe by routing them directly to the marketplaces.
- The shift can save you gas fees and time by charging only 0.75% of the total amount.
Shift has been very successful since its launch. It has handled over 1 million $MAGIC and 50 $ETH worth of NFT transactions, and it has received a grant from Treasure Dao. It also works with many popular NFT projects on Arbitrum, such as The Beacon, BattleFly, gFly, and others.
OKX NFT Marketplace: Best Multi-Chain NFT Market
OKX marketplace is one of the best places where you can explore, trade, and create NFTs on the Arbitrum network. It also supports 11+ other blockchains and shows you NFT collections from various marketplaces like Opensea, Looksrare, Magic Eden Solana NFT Marketplace, and more.
You can find all kinds of NFTs on OKX, from art to sports to music to domain names and more. You can also create your own NFTs for free, choose how much royalty you want to earn, and even use AI to generate art for you.
OKX NFT Marketplace also keeps you updated on the latest trends and rankings of NFT collections, as well as launchpad events for new NFT projects. Additionally, you can check out our guide on How to Find Good New NFT Projects Early.
How to Choose the Best NFT Marketplace on Arbitrum?
- Variety of NFTs: You want a marketplace that has a lot of different NFTs to choose from, especially ones that are native to Arbitrum, like GMX Blueberries.
- Ease of use: Choose a marketplace that has a clear and simple interface, a good design, and smooth navigation. You also want a marketplace that works well on your phone or tablet or has an app for that.
- Fees and speed: Select a platform that doesn’t charge you a lot of money for minting, listing, buying, and selling NFTs. It must use Arbitrum’s layer-2 technology to make transactions faster and cheaper.
- Security and decentralization: Look for a marketplace that is non-custodial, meaning that you hold your assets in self-custody and have full control over them. Also, check if the marketplace is decentralized. It must not be controlled by a single entity or intermediary.
What are the Top NFT Collections on Arbitrum Chain?
Odyssey NFTs and GMX Blueberry Club are the popular NFT collections on the Arbitrum blockchain.
1. Arbitrum Odyssey NFTs
- Items: 424.2K
- Created: Aug 2022
- Chain: Arbitrum
- Floor Price: 0.0021 ETH
Odyssey NFTs are cool pixel art characters that are inspired by the Arbitrum logo and theme. Each one has different features and abilities that make them unique and fun. Some of them can even do special things in future games and metaverses.
2. GMX Blueberry Club
- Items: 10K
- Created: Aug 2022
- Chain: Arbitrum
- Floor Price: 0.1949 ETH
Blueberries are 10,000 adorable blueberry creatures that live in the GMX ecosystem. Each one has a unique look and style, and some of them have special accessories and features that make them more valuable.
So, what’s the top NFT marketplace on Arbitrum? Well, it depends on what you’re looking for. There are several NFT marketplaces on Arbitrum that offer different features and benefits. Some are more user-friendly than others, while some have lower fees.
You’ll want to consider factors such as fees, user interface, security, and customer support when choosing an NFT marketplace.
It’s important to take your time and do your research before making a decision. Don’t rush into anything! Look at different options and compare them. Read reviews from other users to see what they think.
FAQs on Arbitrum NFTs
What is Arbitrum and why is it good for NFTs?
Arbitrum is a new layer-2 scaling solution that makes the Ethereum blockchain faster and cheaper. It works by grouping many transactions together and sending them to the main Ethereum blockchain as one.
This way, it reduces the cost and time of each transaction. Arbitrum is good for NFTs because it lets you buy and sell digital art and collectibles without paying a lot of gas fees or reducing waiting time due to network congestion.
How do I buy and sell NFTs on Arbitrum?
To buy and sell NFTs on Arbitrum, you need two things: an Ethereum wallet that can connect to Arbitrum, like MetaMask or Rainbow, and some ETH that you can use on Arbitrum.
Firstly, connect Arbitrum to Metamask. You can get ETH on Arbitrum by sending it from the main Ethereum blockchain using the official Arbitrum bridge or another bridge service. After you have some ETH on Arbitrum, you can go to any of the NFT marketplaces that support Arbitrum and start trading NFTs.
What are the risks of trading NFTs on Arbitrum?
- Bridge delays: You may have to wait a while or face some problems when sending ETH from the main Ethereum blockchain to Arbitrum or back, depending on how busy the network or the bridge service is.
- Liquidity issues: Some NFTs may not have a lot of buyers or sellers on Arbitrum compared to other networks, making it harder to get a good price.
- Security risks: You should always be careful before buying or selling any NFTs on any platform, as there may be people who try to cheat you or steal your money or assets.
Read more: 6 Best NFT Rarity Tools