What is an NFT Marketplace?

NFT marketplaces are online platforms where NFTs can be bought, sold or created. NFT marketplaces can be thought of as huge online stores, where users can buy and sell NFTs offered. NFTs are hosted on the blockchain, which makes NFT marketplaces use a crypto wallet to store NFTs after purchase.

You prefer to buy such a unique file in a well-arranged place. Especially when it comes to thousands or millions of euros. This is where the NFT marketplace comes into the picture. You can think of these websites as a kind of eBay for NFTs. Anyone can and may participate, but must act according to the rules of the marketplace. This way, both parties know that they are not being scammed. The NFT marketplace therefore provides a kind of service, for which in many cases you also pay a small percentage commission to the platform. What you can buy on an NFT marketplace depends on the platform itself. Not all NFT marketplaces use the same rules. There are places where really everyone can offer their goods for sale, but there are also trading platforms that are much more exclusive. After all, you don't want to offer a digital 'Mona Lisa' for sale at a flea market.