5 Best NFT Marketplaces in Australia
The 5 best NFT Marketplaces for Australians to buy and sell Digital Art, Metaverse Land, GameFi assets and more are:
- OpenSea – (Best Overall)
- CoinSpot – (Best for Australians)
- Kalao – (Best for Avalanche Users)
- Magic Eden – (Best for Solana Users)
- Foundation App- (Best for Indie Art)
OpenSea – #1
OpenSea is the largest and best NFT Marketplace by a significant margin. Their NFT app trading platform boasts the most trading volume and users, exceeding over $50 Billion in transactions in their first year of business. They host the biggest and best NFT collections including CryptoPunks, Bored Ape Yacht Club, Pudgy Penguins, Crypto Cats’s and many more.
The OpenSea fee structure is also quite competitive compared to other NFT Marketplaces.
Sydney’s first major international NFT exhibition launches March 2022, including works by Beeple, Trevor Jones and BossLogic
Sydney’s first major international NFT exhibition opens in early March taking over Bondi Beach, with over 40 works from artists that are shaping the NFT art world.
Satelliteexhibition will be held at Twenty Twenty Six Gallery in Bondi Beach on 9 March through to 3 April 2022. TheSatelliteexperience is twofold, a month-long digitally immersive and sensory experience of NFTs and an educational hub where visitors can discover and learn about collecting and creating NFTs.
By highlighting thetransformative power NFTs are having on the creative economy and byshowcasing world-leading digital artists who have traditionally been sidelined by the established artworld, we hope to provide a forum to educate and demonstrate the value and power of digital art.”
Satellitehas partnered with Studio Messa to bring the physical gallery to life through immersive and sensory storytelling befitting of the incredible works on display. To help deliver an unforgettable and impactful event of this scale,Satelliteis supported by corporate partners including Apollo Capital, Carbon Neutral, CoinSpot, Illuvium, Mawson Infrastructure Group, QT Hotels and Studio Messa.
Their platform currently charges a 2.5% royalty fee on all trades, which is low compared to other NFT Apps that charge upwards of 10% per transaction.
CoinSpot – #2
If you are uncomfortable going on-chain to interact with platforms like OpenSea, we would recommend the Australian CoinSpot NFT Marketplace. Their platform allows you to buy and sell NFTs listed on OpenSea for low fees with any of the 370+ cryptocurrencies available on the CoinSpot exchange.
This is easily the safest and easiest way to buy NFTs in Australia thanks to their intuitive platform and 24/7 support to help you buy non-fungible tokens.
Kalao – #3
Kalao is the leading NFT Marketplace on the Avalanche (AVAX) blockchain. Their NFT App offers one of sleekest and best user experiences out of any marketplace on any chain.
NFT or trade it in for the physical canvas copy. The version not selected would be destroyed.
Now, with 10,000 pieces sold, the results are in. A majority of buyers, 5,149, chose to keep their physical art, while 4,851 opted for NFTs. Hirst’s project, called “The Currency,” has reached its final phase: The real-life pieces that buyers rejected in favor of corresponding NFTs will be burned one by one this fall, reports the Guardian’s Harriet Sherwood.
The experiment “explores the boundaries of art and currency—when art changes and becomes a currency, and when currency becomes art,” writes HENI, the art-tech company that ran the sales last summer, on its website.
An evocative multimedia artist who gained fame for his large-scale pieces made of pickled dead animals, Hirst says he is fascinated by the world of NFTs.
Hirst first began painting spots in the late 1980s, and he displayed a collection of spot paintings at an exhibition that took place simultaneously is galleries around the world in 2012. Themes in his work—which can also take the form of installations, sculptures and drawings—include death, religion, fear, beauty, science and the human condition. In addition to his tendency toward shock and spectacle, Hirst has described a fascination with patterns.
“People are afraid of change, so you create a kind of belief for them through repetition.
It’s like breathing. I’ve always been drawn to series and pairs. A unique thing is quite a frightening object,” Hirst once said, per the Gagosian Gallery.
Hirst created this series of signed spot paintings in 2016. Each has its own title and slight variations in color.
NFTs are digital files (music, memes, drawings and more) that are “certified” using blockchain technology. Most of the hype around NFTs right now involves digital fine art, as the Verge’s Mitchell Clark wrote in June.
Hirst held onto 1,000 of the NFTs, and he faced the same choice as his buyers: Would he trade them in and save his physical artworks from destruction?
“In the end I decided I have to keep all my 1000 currency as NFTs otherwise it wouldn’t carry on being a proper adventure for me,” he says on Twitter. “I decided I need to show my 100 percent support and confidence in the NFT world (even though it means I will have to destroy the corresponding 1000 physical artworks).
NFTs as Magic Eden, and more chains making it easier to switch around to different networks all within one account.
Foundation App – #5
Foundation App is widely regarded to be the ’boutique’ NFT Marketplace that is tailored more toward high-end NFT art investors. This marketplace is the most popular for traditional artists that transition into the NFT market and has a strong and organic artistic community. You will not find popular PFP collections like Pudgy Penguins or Mekaverse here, only singular art pieces.
The Foundation NFT Marketplace is great for those who are interested in supporting 3D artists, photographers and other artists from the traditional art world.
NFT Investing Considerations
It is important to understand that NFTs are one of the most speculative sectors in the cryptocurrency space and are highly risky.
The fees on Kalao are as little as $2 per transaction thanks to the fact that it is built on the Avalanche C-Chain, making it one of the cheapest NFT Marketplaces available.
The most popular NFT collection on Kalao as at time of writing is called ‘Firat’. It is a series of 4,999 NFTs by popular Turkish cartoonist and artist Firat. The collection has traded over $35 million in volume since its release in November of 2021.
Magic Eden – #4
The Magic Eden NFT Marketplace is the largest by volume on the Solana blockchain.
This platform hosts all of the main Solana NFTs, which includes Okay Bears, DeGGods, Trippy Kidz, Trippin’ Ape Tribe, Ganja Gators and more. Their platform trades over $50 million in daily volume, making it nearly as popular as OpenSea for Solana.
The one downside to Magic Eden is that it only supports the Solana network.
Satelliteis committed to sustainability.Working withCarbon Neutral,Satellitewill offset the carbon footprint of all NFTs exhibited at the event. This includes all carbon emissions associated with NFT minting, bidding, sale and transfer of ownership.
The unavoidable emissions will be compensated for through the purchase of carbon credit units from Carbon Neutral’s reforestation project located in theYarra Yarra BiodiversityCorridor,Western Australia.
Tickets will be available January 2022. For live updates on tickets, events and artist announcements followSatelliteon Twitter:@SatelliteNFTart,Instagram:@SatelliteNFTArtand subscribe online throughwww.satelliteart.io
NFT stands for non-fungible token, meaning a unique asset, the authenticity of which is encrypted through blockchain technology, asserting its originality and, therefore, it’s worth.