🛍️About NFT Marketplace

What Is a NFT Marketplace?

NFT marketplace is a digital platform for buying and selling NFTs. These platforms allow people to store and display their NFTs, plus sell them to others for cryptocurrency or money. Some NFT marketplaces also allow users to mint their NFTs on the platform itself.

In exchange for a fee, the NFT marketplace will typically handle the transfer of an NFT from one party to the other.

Each NFT marketplace has its own system for how it operates. The types of NFTs available, fees, payment options, permitted blockchains and other rules will depend on which one you use.

How Do NFT Marketplaces Work?

When you create an account with an NFT marketplace, you can browse through all their available options for sale. You can also add a payment method, and some require you to link a crypto wallet to pay with crypto, while others allow you to use a credit card.

Some sites let you buy NFTs directly for a fixed price, while others will use an auction.

If you complete the transaction, the NFT marketplace will record it on its blockchain showing the change of ownership.