What is an NFT Marketplace?

TL;DR

  • NFT marketplaces are platforms dedicated to facilitating NFTs
  • Most of the time, these marketplaces are blockchain-specific
  • Different NFT projects can list their art and collections on an NFT marketplace

What is an NFT Marketplace?

An NFT marketplace is an online platform that facilitates the buying and selling of NFTs. These platforms serve as a place where collectors and creators can conduct trades, exchanging payments for digital art. Usually, these online platforms make it possible for collectors to acquire artwork by paying in cryptocurrency. Some NFT marketplaces also integrate debit/credit card options for collectors to make payments.

Marketplaces are Blockchain-Specific

Most NFT marketplaces that exist at the moment are blockchain-centric. This means that they operate on, and serve as marketplaces for specific blockchains. This, in large part, could be due to the lack of an inherent interoperability among blockchains.

Conclusion

NFT marketplaces are central to how the NFT ecosystem functions. They help create a melting point where collectors and creators can reach an agreement. and exchange values. They will continue to be relevant as the NFT space continues to grow.

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ivorypay.io

ivorypay.io

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Crypto payment solution for online business | NFT storefront for creators| $IVRY