MakersPlace is a digital creation platform that relies on blockchain technology to allow digital creators to create, sell, discover, or collect original digital artworks. This platform was designed to grow a crypto-art community through digital ownership powered by blockchain technology. Today, it is among the top digital art platforms that allow creators to mint, buy and sell digital art. It hosts some of the rare digital creations you can come across. Through Non-Fungible Tokens (NFTs), MakersPlace enables creators to capture the optimal value of their creations. This project, a brainchild of Daniel Chu, Daniel Chu, Ryoma Ito, and Yash Nelapati, was launched in May 2018. However, the team had been working on this project since 2016, and it had the same mission as its predecessors KnownOrigin and SuperRare.
One of the outstanding features about MakersPlace is that all artworks are verifiable. Buyers can trace the creator of any creation or previous owners. This feature eliminates the possibilities of replicas because only the original artworks are provable as authentic. Through a tamper-proof algorithm, buyers can verify an artwork’s authenticity before buying, thanks to the Ethereum blockchain. Besides, it is possible to verify the identity of the artist or the current owner. Some of the top names in MakersPlace include Dmitri Cherniak, Frenetik Void, Dreamonaut, Silvio Viera, and Yura Miron, among others. They prefer this platform since it gives them power over how many editions they can release.
Since MarkersPlace Market relies on NFTs, it leverages the power of the Ethereum Blockchain. All transactions on this plot are recorded on the ETH blockchain and are verifiable. Users can use their ETH wallets for all their transactions. However, MakersPlace offers user-friendly and straightforward digital wallets for its creators. The wallet is safe and secure.
However, all transactions incur some fees, just like any other marketplaces. There is a 15% commission for a successful sale for MakersPlace and an extra 2.9% fee if the payments are made through a credit card. When a buyer decides to resell a digital artwork, a 12.5% commission is charged, with 10% going to the creator as royalties.
MakersPlace is an invite-only marketplace for both artists and digital creators. They can request a referral link from a dedicated MakersPlace page here. Alternatively, they can contact Discord admins for assistance. When uploading digital arts, creators are required to set a limit for their work. It can range from One-of-a-Kind Creation to Rare Digital Creation and Limited Digital Creation depending on the number of creators who can own creation at any given time.
The MarkersPlace website is simple and user-friendly from both sellers’ and buyers’ ends. You can easily navigate from one marketplace section to another. Besides, with MakersPlace, you can effortlessly search for a specific NFT. Each NFT comes with a clear picture of the artwork, price, the number of people who have viewed it, number of editions, file size, and the artist bio, among other details. Generally, MakersPlace has sections such as Upcoming Drops, Featured Creators, Top Collectors, Popular Creations, and Featured Creations. Most projects are created by solo digital creators and artists who are well-known in the industry.
Lastly, payments can be made using either cryptocurrency or FIAR currency. MakersPlace accepts ETH payments since it doesn’t have its tokens. Buyers can make purchases using credit cards through Stripe or digital wallets such as PayPal.