#781 new
Eva Conner

What exactly is NFT marketplace?

Reported by Eva Conner | December 13th, 2021 @ 06:54 AM

To keep it simple they are quite literally a consumer market for the selling and the buying of NFT’s. NFTs can range from anything - music, art, video, the options are ocean-wide.

How does it work?

They provide a service for buyers and sellers online to trade NFTs under one single umbrella of a technology called Blockchain. It is an online ledger that holds one or more digitally coded copies of your transactions. This makes it almost impossible for any scam or theft of the assets. NFTs are sold and bought in many different ways ranging from auctions, fixed prices. And they do not involve any third party to interfere with the transactions because the biggest advantage of choosing NTFs is the luxury of decentralization. There is no secrecy, no backdoor policy that prevents or enables any of the drawbacks of the traditional, centralized way of transactions.

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