What is NFT MarketPlace ?
NFT Marketplace is the platform to buy / sell NFT Tokens . Every user needs a digital wallet here, NFTs are bought / sold with Cryptocurrencies. The working is more or less similar to the Cryptocurrency Exchanges but the one thing that makes all the difference is in the kind of digital asset. NFTs are indivisible, unique but cryptos are divisible and they are non-fungible.
Top 5 NFT Marketplaces
1.Opensea
Opensea is the largest NFT marketplace with more than 4 million assets and 130+ Dapps. It supports ERC721 and ERC1151 standard which supports many industries such as art, sports, domain name, collectibles, etc, They have featured nearly 700 different project in various sectors.Users can sell/buy the digital assets like Cryptokitties, decentralankd, Axies here.
It let creators to create their own things in the blockchain via opensea mining tool. One can easily add their own smart contract for games, collectibles, etc in this marketplace.
It has over 17K users at this time and the user count is increasing day by day. Popular Youtuber Logan paul, launched his first NFT token which is worth 3.5 million USD.
- Rarible
Rarible is the kind of marketplace launched in the year 2020 which has its own token named, RARI It rewards users who buy /sell NFTs with this token. For a week, they distribute nearly 75K RARI tokens.
This Platform is exclusively for Art sector which includes music, books, digital art, etc, users can create their own NFT token for their creation. Rarely incorporate prolific verification process to ensure the ownership of creation to reduce fraud. The most prominent characteristic of rarible is Anonymity. it is moving towards Decentralized Autonomous Organization where users have all the powers in the platform.
- Foundation
Foundation is founded in the year 2020 which has its primary focus in digital art. They Describe themselves as the new creative economy. It’s a kind of platform which brings collectibles, digital creators and cryptos together.
In the initial stage, they invited creators to manipulate and hack the creative work. It has nearly 3.5K traders. The average transaction of this platform is nearly 2K USD, no doubt that this will increase tremendously in the future.
Recently, Aphex Twin, the music composer created a NFT Token for his music album and that reached upto 72 ETH.
- AtomicMarket
AtomicMarket is built with multiple websites where NFT listed in one market is also available for another market which implies Liquidity sharing. It supports atomic assets built on ESIO blockchain. One can create , buy/sell assets by making use of Atomic asset Standard. It provides a verification check mark for all the tokens to reduce the fraud which in turn builds traders trust.
This Platform was launched in the year 2021 and gained volume up to 33,690,000 USD. which is designed as the independent of its network parent. Users are allowed to launch their own Dapp on this site.
- BakerySwap
BakerySwap has its own native token BAKE which works on Binance Smart Chain and supports BEP-20 token. It is a kind of open-source Defi Protocol like Uniswap. It is the first food-themed decentralized Exchange. It adopts the Automatic Market Maker (AMM) model. It provides fast, efficient, reliable services on the Binance Smart Chain.
This Marketplace supports digital art, memes, games and rewards users with BAKE Token Minting and selling is easy and effective in bakeryswap. some popular features of bakery swap are Exchange, Farming, Liquidity Pools, walletintegration and liquidity Addition,etc,
As Non-Fungible Tokens hold an ever replaceable place in the crypto market, the NFT Marketplace will tend to grow more and more. Thus NFT Marketplace Development will be the best business solution for all crypto business people. To launch your own NFT Marketplace like OpenSea, contact the best NFT Marketplace Development firm like Bitdeal, who can furnish you with A to Z NFT Marketplace Development Services.
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