Mintable Review 2023: Is it a Good Marketplace?
Mintable Review: Our Opinion
Mintable is a great Ethereum-based NFT marketplace for NFT collectors and artists interested in a wide range of items including music, digital art, and photography, as well as, creators who want some sort of fee flexibility as the platform offers gasless NFTs.
An Overview of Mintable
Mintable was founded in 2018 by Zach Burks as an NFT marketplace built on Ethereum that allows users to buy, sell, distribute, and create NFTs. The platform offers over 9,000 NFTs with a wide array of categories to select from and users must hold Ethereum to carry out transactions on the platform.
Key Features of Mintable
Gasless minting is a transaction-free minting option on Mintable NFT marketplace that allows users to mint NFTs without paying gas fees upfront. Mintable gasless minting is done on the main Ethereum network.
With traditional minting, because smart contracts are created and stored on the blockchain, creators can be charged as high as $100 or more in gas fees to make one piece of art. This gas fee goes to the blockchain miners.
With gasless minting, however, this fee is eliminated. Users who wish to create NFTs on Mintable NFT marketplace get to choose if they want to make normal NFTs or a transaction fee-free NFT. All the user needs to do is to sign a message and their NFT will be created without incurring any gas fees.
Gasless minting is similar to lazy minting in the sense that it eliminates the challenge of needing to pay to mint NFTs. The major difference between gasless minting and lazy minting is that the minted digital assets are immediately found on the Ethereum blockchain which is decentralized and safe.
Since the created digital art is on the Ethereum mainnet, the digital art buyer does not need to go through the process of minting the digital art after purchase. This means that both the seller and the buyer do not have to worry about the impact of minting on the environment.
With Mintable NFT marketplace gasless minting, creators do not need to create a store to mint. Creators can also mint one item or batch-mint several items. They can also manually add their digital assets to their wallet at no cost.
Mintable users can mint a large number of NFTs at once using this feature. With batch minting, NFT creators can mint as many crypto-collectibles as they like in a single transaction.
Mintable allows creators to batch mint up to 2,000 NFTs in a single transaction. This feature was enabled after Mintable got a grant from the Ethereum foundation and redesigned the ERC-721 standard to enable larger batch minting amounts. Every item in the minted batch is unique and 100% ERC-721 compatible. This means that the items can work on other NFT marketplaces, wallets, and dApps.
Mintable’s Printable NFT feature allows creators to set up a collection of as many NFTs as they wish. Creators can sell millions of NFTs with a single transaction using this feature. The printable NFTs feature is similar to an ICO the only difference is that it is done with NFTs.
Printable NFT is available to all Mintable users. The NFTs don’t exist until they are sold. This is a great solution for creators who have lots of collections but are not certain that releasing all the collections is a good idea because of the supply and demand question.
Printable NFTs are only minted and listed on the blockchain when there’s interest in purchasing them.
A major downside of printable NFTs is that they incur higher transaction fees than normal NFTs. With normal NFTs, users pay a 2.5% fee for NFT transactions, but with printable NFTs, the transaction fee is 10%
Mintable Academy is designed to teach users, especially newbies how to use the platform to become a profitable NFT creator or collector. The academy acts as a guide to NFT creators who wish to build their first NFT collection or earn money from minting their artwork.
Types of NFT You Can Buy and Sell
Mintable offers 6 types of NFTs for both NFT creators and collectors, which include; utility, sports, music, videos, art, and collectibles. The platform helps users engage with its vast array of digital items by dividing its NFTs into the various categories mentioned above. Each of these categories has deeper sections that users can explore to find what they’re searching for.
Mintable also offers unique NFTs with particular use cases such as Metaverse real estate and 3D models. These are found within the utility and collectibles sections. You can also find several domain names NFTs in the same category on the marketplace.
Other sections include digital avatars, various Metaverse items, and virtual property.
Mintable supports Ethereum, Zilliqa, and Immutable X blockchains.
Mintable allows you to seamlessly convert your digital content, which includes digital file types such as JPEGs, PNGs, MP4s, PDFs, etc. into NFTs that exist on the blockchain. The platform supports the minting of musical tracks, videos, images, books, and much more complex content from professional programs like Blender and AutoCAD.
That said, here’s how to mint your NFT on Mintable:
First, you need to have a custom store or use Mintable’s store. The store is where you will put your NFT after it has been minted for sale.
Next, click the “Mint an Item” icon on the navigation bar and select “Create a New Item”.
Complete the required details for your NFT. The details would typically contain the following fields; Store, Category, Token name, Tags, Title, SubTitle, downloadable file, metadata, preview image, price, mint only, resellable, and copyright.
These details are important, so ensure that they are filled correctly. Store, for example, is the smart contract to mint NFTs. Other details like Mint Only, state whether you want to list the item for sale or just mint it. Resellable states whether another user can resell your NFT on Mintable after purchase.
Next, you need to sign the transaction using your MetaMask wallet. To do so, you’ll need to create your item on the blockchain and then sign a message for your item to be listed for sale.
That’s it, the NFT is now minted and available for sale.
How to Buy NFT on Mintable?
It’s quite a straightforward process to buy NFT on Mintable. To start, locate the NFT you want to buy. Next, ensure that you have connected a wallet (MetaMask) to your Mintable page and that it has Ethereum in it.
A wallet and Ethereum address are essential to submit transactions on the blockchain. You won’t be able to buy NFTs without Ethereum or a wallet.
Next, click the blue “Proceed to Pay” button and submit the transaction through your wallet. The transaction should take a couple of seconds to be processed on the blockchain. You should have a new button to view the NFT in your profile.
If you want to buy with a credit card here’s how; Mintable uses wert.io to facilitate payments under Know Your Client regulations to comply with laws against money laundering.
That said because NFTs on Mintable only exist in Ethereum wallets they must be paid for in Ether. So regardless of the payment method you use, after the card’s details have been received and confirmed there’s an instant exchange of your base currency for Ether to purchase the NFT.
Depending on the type of NFT transaction Mintable charges a variety of fees. The standard fee for a traditional NFTs on Mintable is 2.5% which can increase to 5% on NFT transactions that opt for the gasless option. A gasless transaction on Mintable means that the creator does not have to pay for Ethereum gas fees or network fees when minting an NFT.
For printable items, Mintable charges 10% for all purchases.
Mintable also charges a 10% fee to the creator for all secondary sales on-chain.
Mintable Payment Methods
At the moment, Ethereum is the only crypto asset that you can use for payment on Mintable. The platform supports debit and credit card purchases, however, these come with a 5% fee, and a Know Your Client request, and it is ultimately used to purchase Ethereum which is used for the main transaction of purchasing NFTs.
Mintable is a non-custodial NFT marketplace. This means that it does not store users’ private keys or their crypto assets. When an NFT is purchased from the platform, it is stored in the user’s wallet. The security of your NFT assets on Mintable is largely dependent on how secure your wallet is, and how cautious you are on the web. To protect users, Mintable tracks and removes fraudulent NFTs from the marketplace.
Mintable users who have complaints can contact the support team via email at email@example.com or by chatting with the team on Discord. The fastest way to reach the support team is via Discord. Response to emails takes about one business day while response on Discord is usually within seconds, especially during working hours.
The Mintable academy is also equipped with a lot of helpful materials required to get started and make profitable sales on the platform.
Mintable is an NFT platform for users looking for a flexible marketplace to buy, mint, browse and sell NFTs. It is also a great fit for creators who want to mint NFTs without the associated Ethereum network fees. That said, when compared to other NFT marketplaces Mintable charges very high fees for both gasless and traditional NFTs which is a huge discouragement for NFT newbies.
Our extensive analysis of the NFT Marketplaces doesn’t stop here. You can also read about our Quint NFT Marketplace Review as an alternative to Mintable or you can check out our list of Top NFT Marketplaces.
Most frequent questions and answers
Mintable offers users a variety of options when it comes to the types of NFTs available. You can find Metaverse, domain names, art, videos, etc. But where it fails in its fees. Mintable charges up to 10% for certain types of transactions, which may be way too much for the newbie NFT user.
OpenSea is much larger than Mintable offering millions of NFTs while Mintable hosts some thousands. Also, for investors who want low fees, OpenSea is the better option of the two. Mintable is more geared towards users who value educational resources and secondhand royalties in the NFT space.
Yes, Mintable offers some great creator plans via printable items (allowing creators to create as many NFTs as possible and mint those purchased) and offers a 10% royalty to creators for all secondary sales on-chain.
Mintable features gasless NFTs, meaning you don’t have to pay gas fees for minting them. However, for such transactions, it charges 5% which is high and almost equivalent to network fees.
The Platform charges anywhere from 2.5% to 10% for all transactions.
Rarible charges less than Mintable in terms of fees. So if you’re looking for low fees Rarible is the better option but they offer very different NFT collections.
Go to your Mintable profile, then click on “My NFTs” in the left navigation menu to view all NFTs in your wallet. Next, click “Sell” on the NFT you intend to list. This will redirect you to the listing page. Once there, you can choose to sell your NFT at an auction price or a fixed cost.
Coinbase Singapore is not regulated by the Monetary Authority of Singapore unlike other crypto exchanges like Independent Reserve.
Coinbase supports over 100 cryptocurrencies and multiple fiat currencies like SGD, USD, GBP, and EUR
Only credit and debit cards are supported on Coinbase Singapore.
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