Rarible vs OpenSea

As I look for NFTs, I find that many of the ones that interest me are available both on Open Ocean and on Rarible.  In general Variable seems to have lower prices than Open Ocean.  I am not sure why.  When you look at price floors for NFTs, they don't seem to take into account the price on Rarible.  Let's take a look right now and see how Bored Apes are doing.  On Rarible the least expensive Bored Ape is about 42 Ethereum while the least expensive bored ape on OpenSea is 67 Ethereum.  I am not sure why one is so cheap.  You would think you could buy them on Rarbile and flip them on OpenSea but I bet there is a catch.

I was looking for alternative ways to aquire NFTs and I came across NFT20 which lets you pawn your NFT and gives you money while it locks your NFT as collateral.  They had a bored Ape for about half the price.  When I looked into it further, the Ape had been black listed by OpenSea.  If someone tried to sell it in the marketplace, the NFT has a big warning that it has seen some unusual activity.  Who wants an Ape with unusual activity.

Even though its half price, it is better to move on.  Who wants to get stuck with an image that has no value because it was involve in a crime or something else shady.

This ads a new level of risk to NFTs.  You need to be concerned with the amount the NFT is worth, the value of the coin used to buy and store the NFT, and now you need to also worry about getting an NFT with a clean history so that you can sell it when needed or use it as collateral.

NFTs and crypto have made a whole new set of rules.  The rules aren't laws but they are the rules that keep you protected from losing money.  One of my new rules is stay away from anything that isn't liquid.  If you can't trade it on Coinbase, Binance, and Kraken, you might want to wait.