NFT Marketplaces

What is an NFT Marketplace

An NFT marketplace is a digital platform where you can buy and sell NFTs. These platforms enable users to store and display their NFTs, as well as sell them to others in exchange for cryptocurrency or money.

What is Minting?

The process of creating new NFTs on a blockchain, most commonly Ethereum, is referred to as minting. When you mint an NFT, you record the data that makes up the new NFT in a new block, which is then added to a blockchain.

Some NFT Marketplaces

• OpenSea: OpenSea is an old NFT marketplace, having launched in 2017, and it is also one of the largest NFT marketplaces operating today. It is home to a variety of popular NFTs, such as art, music, photography, trading cards, and virtual worlds.

• Rarible: Rarible, like OpenSea, is a large marketplace for all types of NFTs. On the platform, you can buy, sell, or create various types of art, videos, collectibles, and music. To buy and sell on the marketplace, you'll need to use the marketplace's own token Rarible (CRYPTO:RARI), unlike OpenSea.

• Theta Drop: Theta is a blockchain platform designed for the internet's decentralized distribution of video and television. The World Poker Tour's digital collectibles debuted on the NFT marketplace Theta Drop in 2021.

References

[1] The ascent, 'Best NFT Marketplaces' (online, 2022) <https://www.fool.com/the-ascent/cryptocurrency/nft-marketplaces/>.
[2] Forbes Advisor, 'Top NFT Marketplaces of 2022' (online, 2022) <forbes.com/advisor/investing/cryptocurrency/best-nft-marketplaces/#:~:text=An%20NFT%20marketplace%20is%20a,NFTs%20on%20the%20platform%20itself.>