What are the differences between China and foreign NFT issuance platforms?

The NFT issuance platform is a platform that provides services such as issuance and trading for NFTs. According to the location of the platform, the NFT issuance platform can be divided into two markets, domestic and foreign. The following compares the situation of major NFT issuance platforms at home and abroad, including platform introduction, issuance model, representative works, related fees, platform transaction volume and transaction volume.

1. Domestic NFT issuance platform

Due to differences in domestic regulatory policies, the development path of NFT is more conservative than that of foreign countries. Domestic NFT issuance platforms can be roughly divided into two categories. One is based on alliance chains built by major Internet companies. This type of NFT is mainly based on the collection function and lacks the function of token trading. Another type of NFT trading platform has more comprehensive functions, but the threshold for ordinary users to issue NFTs is higher.

1.  Tencent “Magic Core” App Platform

Keywords: App, collection function, artist participation, alliance chain

Introduction to the platform:

Magic Core is the first NFT trading App in China, which will be launched on August 2, 2021. Magic core digital goods are digital goods issued based on the Zhixin Chain NFT technology agreement. Zhixin Chain is a judicial application ecological service platform based on digital cultural content scenarios initiated and established by Tencent, China Net Security and Beiming Software. It provides blockchain underlying technical support and credible evidence for the issuance and transaction of digital goods and platforms. Technical and digital commodity certificate technical services. In the future, the platform may open up a richer IP and circulation gameplay.

Release mode:

At present, it is distributed through private channels to contact artists, and private creation is not open. The products issued are mainly collections, and secondary transactions are not supported.

Representative product: “Sound “Thirteen Invitations” Digital Art Collection NFT

2. “AntChain Fan Tablet” Mini Program

Keywords: payment code NFT, collection function, restricted gift

Introduction to the platform:

Open Alipay, search for “Fanfan” and “NFT” keywords to see the “AntChain Fandian” applet. The AntChain Fan Tablet is based on a private blockchain developed by Alibaba’s Ant Group. There are currently two main products, one is the payment code NFT skin, which will be displayed above the payment code after purchase; the other is digital artwork.

Release mode:

At present, it is mainly through contacting artists to create and sell, and there is no private creation platform. The platform does not support transfer or transaction in any way. The product provides collection and appreciation, display to friends, and limited gift functions.

Representative products: Dunhuang Feitian, Nine Color Deer, Assassin Wu Liuqi, I’m not Fat Tiger, Wuhuang Cat

3. NFT China (NFTcn)

Keywords: Collectors gather, low barriers to entry, synchronized market

Introduction to the platform:

NFT China is a comprehensive platform for the on-chain, promotion and trading of NFT digital assets. It was founded in May 2021. The platform focuses on art NFTs, including offline channels and online channels, bringing together more collectors. NFT China has accumulated a large number of artist resources through its own Starlink Artist Project and NFTCN STUDIO studio. At present, NFT China has thousands of artists settled in, and more than 100 artists have carried out in-depth cooperation with the platform, so that the platform has gathered many high-quality works with investment value.

Release mode:

For users who own artist studios, the platform does not have a limit on the number of releases. For artists who apply for an individual, only 20 works can be uploaded at most. The platform currently supports multiple distribution modes such as blind box distribution, auction, and pricing. In addition to the market on its own platform, NFT China will also synchronize its works to several of the largest overseas markets such as OpenSea and Rarible to solve liquidity problems.

Representative works: Tao Wenyuan’s “Another Harvest Year”, Quan’s “Shackles” series

Related costs:

NFT China only needs to pay the audit and certification fee, which is 300 yuan. The transaction fee is fixed at RMB 33.

4. DMall.im

Keywords: low threshold, Chinese interface

Introduction to the platform:

Established in November 2020, formerly known as btoto, DMall is a leading NFT mall in Asia. Users can buy or sell any encrypted products (NFT) that comply with ERC721 and ERC1155 standards, including but not limited to characters and characters in encrypted games. Props, land in the virtual sandbox world, real estate or costumes, encrypted art collections, digital copyrights, digital tickets, etc.

Release mode:

The platform has a low threshold, and players can freely create and list products. The platform is a Chinese interface, and the operation process is simple, which is conducive to novice operation. The platform supports the sale of NFT products at a buy-in price and auction mechanism.

Representative products: ArtBlocks Curated, Arabian Camels series

Related costs:

The platform currently only supports MetaMask, also known as the “little fox wallet”, which is a digital currency wallet that can log in and pay on the platform. The seller needs a GAS fee when listing the product for the first time, and there is no charge for subsequent listing of the product. All products on DMall are only charged 2.5% when they are sold. It is reported that the follow-up platform will also launch the “commission rebate function”, if the rebate is included, the handling fee that users need to pay will be further reduced.

5. Ibox

Keywords: high-end issuance, liquidity plan, public chain issuance

Introduction to the platform:

iBox is an NFT trading platform under Huobi, positioning high-end NFT issuance and circulation. Compared with other NFT issuance platforms, iBox will focus on serving NFT players in the Asia-Pacific region in depth. iBox will be deployed on multiple public chains (the first HECO), with features such as security, low transaction costs, and high speed, and supports the trading of digital assets under the ERC-721 and ERC-1155 standards.

Release mode:

iBox focuses on high-end NFTs, and most of its NFT products are jointly released with well-known IPs, well-known artists or public figures that are familiar to the public. Users can conduct asset transactions through pricing issuance, blind box issuance, multi-form auctions, etc., while supporting a variety of liquidity improvement solutions, such as combining lending, mining, price oracles and other solutions to increase the secondary flow of NFT sex.

Representative products: Star series, Leslie Cheung’s digital food for public welfare, blind box, fellow uncle, Xu Bingtian book number, Chen Xiaochun’s “ibox001” number

Related costs: The price is set by the caster, no royalties are required, and the seller can list it for sale online

6. Excellent copyright

Keywords: copyright binding, multi-chain compatibility

Introduction to the platform:

You copyright uses blockchain technology to link original copyrighted works to form NFT assets, and through the ipbank copyright operation of the comic alliance, it creates the greatest value incentive and affirmation for original creators, and brings considerable benefits to NFT asset holders. And value-added. The platforms include artworks, music, short videos, star IPs, etc.

Release mode:

Most of the current works are corporate users with their own traffic, and other individual publishers need to submit works for application, and can choose distribution modes such as blind box distribution and limited distribution. In addition, NFTs issued on the platform can bind physical rights, copyright rights of works, etc., and use these rights to make commercial profits. In addition, it also supports one-click listing to trading platforms such as Binance, Huobi, and OpenSea to provide liquidity for NFTs.

Representative products: “The Only Way”, Confucius Grandpa

Related costs:

The platform supports recharge transactions through RMB and central bank digital RMB. No need to purchase additional tokens as a handling fee, only 10% transaction handling fee is charged

7. Umx

Keywords: two-tier market, WeChat payment

Introduction to the platform:

UMX is China’s first multi-sector NFT encrypted art trading platform. The UMX platform package has created multiple sectors such as visual art, music, mixed digital art, and the core business model is in the two-tier market. The platform uses the method of setting a security key on the WeChat terminal to obtain a convenient WeChat asset wallet, and you can use WeChat payment to trade works of art on the UMX market. The purchased works can be collected or directly placed in the UMX secondary market for resale transactions. In the future, the WeChat wallet will be allowed to communicate with UMX’s NFT721 universal wallet.

Release mode: 

The commodity owner sets the NFT works price, number of copies, issuance time, royalties and other parameters through the umx platform blockchain smart contract, and sells them in the initial market. The selling method supports multiple models such as direct pricing and bidding. After consumers purchase works through the primary market, they are placed in the secondary market for recirculation and multiple sales to achieve value-added works and investment income.

Representative products: “Six Hos” by Su Maolong, “Mao Chair” by Xue Jiye, “Jie” by Lin Quan

Related fees: Royalties will vary according to different sectors, and the rate ranges from 7% to 10%.

2. Foreign NFT issuance platform

Most mainstream foreign NFTs are issued based on public chains, with very high transaction freedom, and the liquidity of the secondary market is very significant. Some old-brand NFT distribution platforms still focus on artist creation, and the threshold is relatively high; while on some NFT distribution platforms with lower thresholds, such as Opensea, ordinary users can also participate in the production and distribution of NFTs.

1.  OpenSea

Introduction to the platform:

Opensea is the world’s largest NFT trading platform and a decentralized exchange that provides peer-to-peer Ethereum homogenized token (NFT) transactions. The platform has the widest variety of NFT products, including encrypted artworks, game products, virtual land, and digital copyrights.

Release mode:

The user has a low entry barrier and can freely create and trade NFTs here. The platform supports selling mechanisms at fixed prices, reduced prices, and highest bids, etc.

Representative products: CryptoPunk, CryptoKitties

Related costs:

The platform currently supports 241 cryptocurrencies as payment methods, and OpenSea will extract 2.5% of the transaction value (including first or secondary sales) as a service fee. Creators can freely set royalties within 10%, and OpenSea will transfer these NFT royalties to the payment address designated by the NFT creator every two weeks.

Opensea users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

2.  Rarible

Keywords: token governance, cross-platform management

Introduction to the platform:

Rarible is a comprehensive NFT issuance and transaction platform built on Ethereum to create and sell digital collections protected by blockchain. The platform is an open source, non-custodial platform for users to forge, sell and create collectibles. Rarible supports various types of NFT transactions such as Ethereum ERC721, ERC155 standard encrypted artwork, game props, and domain name services. The platform is integrated with Opensea and supports cross-platform management.

Release mode:

Any user can enter Rarible, create and display their own artwork. The platform supports buy-it-price transactions and auction transactions. The platform issued the governance token RARI in 2020 to encourage users to participate in token governance and work review.

Representative products: BoredApeYachtClub, ArtBlocks

Related costs:

Platform revenue comes from a 2.5% transaction fee. The creators of NFT can set the royalties to a maximum of 50%. Currently, the platform is studying a cross-platform royalty plan.

Rarible users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

3.  Nifty Gateway

Keywords: U.S. dollar exchange, high threshold, invitation system

Introduction to the platform:

NiftyGateway is a regulated NFT currency market. Nifty Gateway collaborates with top artists and brands, such as world-renowned artist Michael Kagan, to create a limited edition, high-quality Nifties series. In addition to encrypted artworks, the platform also contains cryptocurrency games and application products, such as CryptoKitties, GodsUnchained and other projects.

Distribution mode: ordinary people have a higher threshold for publishing works, and they need to apply. Artists settled in, the invitation system is implemented

Representative works: Michael Kagan CRENAN series

Related costs:

NiftyGateway is a U.S. dollar-based centralized market that allows U.S. users to withdraw fiat currency, and plans to launch the same function for international users. Users can buy NFTs with credit cards, and they can be cashed directly into their bank accounts when they are sold. Recently, Nifty Gateway has also updated its function, Prepaid ETH. That is, Ethereum users and credit card users are in the same interactive speed environment to increase the speed of transactions. The platform will charge 5% of sales and a service fee of US$0.3 for each transaction in the secondary market to pay for credit card processing fees and fund platform operations. On NiftyGateway, artists can set their own royalties in the secondary market, up to a maximum of 50%.

4.  MakersPlace

Keywords: Support credit card and Palpal payment

Introduction to the platform:

MakersPlace, released in 2016, is a rare art casting platform. The platform connects artists with art lovers and collectors through the market and a network of partners. The platform covers a variety of digital creations, focusing on limited-edition NFTs

Distribution model: high threshold, mainly well-known artists, with invitation system

Representative works: Cooperate with Christie’s to auction the digital artist Beeple’s painting “Everydays: TheFirst 5000 Days”

Related costs:

Credit card, Paypal and ETH payments are supported. MakersPlace charges 15% of sales as a service fee, and 2.9% is charged when purchasing via credit card. When the work is resold many times, the original creator can get 10% of the sales royalties, and MakersPlace will charge 2.5% of the royalties, that is, the seller can get 87.5% of the sales.

Number of MakersPlace users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

5. Super Rare

Keywords: Collector Royalty

Introduction to the platform:

Founded in 2018, SuperRare is one of the earliest NFT artwork casting platforms. It is known as the Internet digital art market with a global digital artist network, with nearly 700 artists. The platform is dominated by artworks, including still images, moving images, videos, etc.

Distribution mode: SuperRare has strict audit standards for artists. Artists who want to settle in SuperRare need to apply to the platform. Only original authors who pass the review can sell NFTs, and they cannot be tokenized elsewhere on the Internet.

Representative product: “TheLiving Doodle” by Mr Doodle

Related costs:

All transactions on the platform are carried out using Ether. SuperRare claims to be the first platform to introduce automated artist royalties. The platform will charge a service fee of 15% of the artist’s first sale, and will also charge the buyer a 3% market transaction fee for all purchases. When the artwork continues to circulate and sell, the creator will receive 10% of royalties. In addition, the platform also introduced collector royalties. The collector royalties that the first collector will receive will gradually decrease from 1% to zero by 50% according to the number of flows. The second collector goes from 0.5% and so on. Collector royalties are currently planned for a 12-month plan, and royalties are paid out of official handling fees.

Number of SuperRare users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

6.  Foundation

Keywords: community-driven, invitation system, high-threshold casting trading platform

Introduction to the platform:

Foundation is a digital collection platform established by the community. Through a simple application, users can bid on digital art on the Ethereum blockchain, and complete the purchase, sale and browsing of digital art. Compared with other platforms, this platform is a niche community that focuses more on high-quality creativity and art. Most of the art varieties are meticulously curated and specialized art NFTs.

Distribution model: Unlike other platforms under the “application review system”, Foundation is an invitation-based NFT art platform that adopts a community-led curatorial model. That is, first by inviting 50 artists to the platform, and then presenting 2 invitation codes to these artists, and if the invitee also successfully sells the first work, 2 invitation codes can also be obtained. In addition to peer-to-peer invitations, “Community Upvote” is a new way to settle in. All community members who have been authenticated by Twitter can get 5 votes to support 5 artists who can settle in. The top 50 artists can create NFT. However, in the future, Foundation does not rule out using “Community Upvote” as the main channel for creators to settle in.

Representative works: Chris Torres “Nyan Cat”

Related costs:

Platform works are priced in Ethereum. In addition to the special invitation mechanism, Foundation’s sales mechanism is also special. Artists need to set a reserve price when uploading the work. After the first bid, the work will automatically open for a 24-hour auction. In addition, the NFT generated on Foundation will be automatically issued on OpenSea, and it will charge a 15% service fee after the work is successfully sold, and the remaining 85% will go to the creator. In the second sale, Foundation charges a 10% service fee, and creators can get 10% as royalties forever, and OpenSea will pay once every 1 to 2 weeks.

Foundation users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

7.  KnownOrigin

Keywords: high-end art casting transaction

Platform introduction: Known Origin is a veteran encrypted art platform and an artist-driven platform. It aims to provide a convenient platform for digital creators to easily verify, display and sell the artworks and collections they produce. Most of the platforms are based on rare digital art NFTs.

Distribution mode: Due to its unlimited mode, a large number of artist applications have been suspended. According to KnownOrigin’s regulations, creators can upload 1 piece of work every 24 hours after successful application. The platform supports asking price and bidding purchase.

Representative works: Plume “PHORM001”

Related costs:

When the work is sold for the first time, KnownOrigin will charge a 15% service fee, and the creator will get 85% of the income; and in the second sale, the platform will charge a 2.5% service fee, the creator will get 12.5% ​​of the income, and the seller Get 85% of income. In addition, if the creator cooperates with other artists, they can pre-set the percentage of each sale during the NFT casting, such as 10%, 25%, 50%, etc.

KnownOrigin users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

8. VIV3

Keywords: Flow underlying platform, composability

Introduction to the platform:

VIV3 is the first comprehensive NFT market based on the underlying platform Flow public chain. One of its most notable features is composability. On VIV3, all the works of each creator are cast by their own blockchain smart contracts. Under this mechanism, any application in the Flow ecosystem can be directly integrated with the contracts of individual artists without affecting the entire market pool. This allows countless new users to build on a single asset or collection.

Representative works: Anne Spalter “VacationSunset”

Related costs:

The supported currency is the wallet on the flow public chain. Creators can create NFTs on VIV3 without gas fees, and VIV3’s NFT casting costs and profits come from the 12.5% ​​service fee it charges for the first and second sales. In addition to 87.5% of revenue, creators can also receive 10% as royalties.

VIV3 number of users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

9.  Zora

Keywords: invitation system, token governance

Platform introduction: Zora is a cryptocurrency project and a community-based NFT platform. It allows users to buy, sell and trade limited edition merchandise. The market was founded in 2020 by DeeGoens and Jacob Horne, allowing the community to participate in the construction. The platform includes digital artworks such as music, videos, pictures, animations, and texts.

Distribution mode: It is an invitation-based encrypted art platform. According to Zora’s rules, each new artist has 3 invitations to invite friends or other artists. In February of this year, Zora introduced a verification mechanism to support artists to apply to join Zora.

Representative product: “One HundredthStream.” by Mike Shinoda, lead singer of Lincoln Park

Related costs:

Zora uses a community token based on Ethereum, the $SRAC token. The platform will not charge any fees for creating or collecting NFTs, and users need to pay gas fees for casting, selling or bidding. Creators can set resale rights, and a permanent fixed percentage of sales value will be sent to you every time they sell.

10.  Async Art

Keywords: programmable art, music casting trading platform

Introduction to the platform:

Launched in February 2020, Async Art is a programmable encryption art platform built on Ethereum. Async Art’s work is composed of two parts: “Master” and “Layer”. Master is the main form of the work. A Master can be composed of multiple layers. The artwork can be changed according to “layer changes”. For example, an artist can create different states for a painted sky through layers, so the work can show different states such as rain and sunny days. The platform includes art and music NFTs.

Distribution mode: After applying to become an Async artist, the creator does not need any programming knowledge, just cut the work into layers during the upload process. In the sale of works, creators can set “Buy Now” or “Open Auction”, and the auction end time is determined by themselves.

Representative works: Robert Alice’s programmable NFT work “Block21” was jointly auctioned with Christie’s

Related costs:

AsyncArt’s revenue from the sale of works adopts a “pumping” model. It will charge a 10% service fee for the first sale, the remaining 90% will be owned by the artist, and a 1% service fee will be charged for the second sale. Of course, creators can also get 10% royalties. However, for custom artwork, Async Art will charge 20-30% of the service fee, and creators will receive 70%-80% of the income.

Number of Async Art users, transaction volume, transaction volume

What are the differences between China and foreign NFT issuance platforms?

Source: DappRadar

11. GoatNFT

Keywords: sub-sale lease, split transaction

Introduction to the platform:

GoatNFT is an NFT trading platform covering art, games, music, movies, sports and other content sectors. It provides en-bloc sales, sub-sales and leases based on a variety of auction methods. As the native governance ecological token of GoatNFT, GOAT holders have the right to govern the community. The expansion and growth of GoatNFT’s huge system will be decided by GOAT holders, such as voting to determine contract parameters, product iterations, behavioral incentive parameters, etc.

Release mode:

The platform supports direct sale, fragment issuance, and lease sale. Under the direct transaction, users can directly buy or sell related NFT assets in a specific sector in GoatNFT according to their needs; in the split transaction, the NFT is escrowed in a smart contract, and then tokens of the ERC20 standard are issued based on this split. These standards The fragmented tokens can be traded on the secondary market; in the leasing transaction, GoatNFT can separate the ownership and use rights of the NFT, allowing the owner to obtain more benefits without losing the ownership, increasing the NFT’s fluidity.

Representative works: MagicGOAT

12.  Curio

For fans, entertainment industry, support credit card payment

Introduction to the platform:

Launched on May 9, 2017, Curio is the first Art NFT project on Ethereum. It is also an online art exhibition and permanent gallery. Its goal is to connect fans with the characters, stories, and scenes they know and love . Curio has a large number of resources in the entertainment industry (such as Disney, Universal Pictures and Universal Music Group, etc.), and cooperates with various celebrities to create officially authorized digital collections.

Distribution model: Curio cooperates with leading companies in the entertainment industry to create reliable and unique NFTs for works such as animation, video, and music. The platform is mainly auction and also supports secondary market transactions.

Representative products: American Gods, X-Men

Related costs:

It supports payment by debit or credit cards such as Ethereum, VISA and MasterCard. When users sell transaction fees, they need to pay a 5% transaction fee. On March 31, 2021, the community voted to approve the 1% artist royalties sold by OpenSea. 100% of the royalties are divided equally among the original artists.

13. Binance NFT

Keywords: decentralized exchanges, differentiated markets

Introduction to the platform:

In June 2021, the NFT platform launched by the centralized exchange Binance was officially launched. The platform is supported by the Binance Smart Chain infrastructure and community. Binance has users in more than 180 countries and regions, so it can attract millions of potential NFT collectors around the world. Binance said that the platform will open and operate two markets, including top auction and exhibition markets, and standard markets where anyone can participate in transactions.

Distribution mode: The
minting function is currently only open to authorized creators, that is, selected Binance artists and partners. The platform currently supports bidding auctions and blind box sales.

Representative works: Vogue Singapore Mysterious Gift Box

Related fees:
Support sellers to sell in BNB, BUSD and ETH, and also support Binance to support Visa or Mastercard payment. Binance’s NFT platform differentiates between market fees and takes 10% of the profit from auction proceeds in the high-end market, while the remaining 90% will become the income of artists. The standard trading market will charge a 1% handling fee, and creators will also receive a 1% copyright fee.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-are-the-differences-between-china-and-foreign-nft-issuance-platforms/
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