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Chapter 2:
NFT marketplaces
How do NFT trading platforms work?

Оглавление

First of all, you must have a crypto wallet. Even if you have such a wallet, you

have to make sure, that your currency is applicable for NFT. Many marketplaces transfer NFTs in ETH, while others might use Solana (SOL), Tezos (XTZ), FLOW and many other cryptocurrencies.

Marketplaces offer:

● to buy NFT:

Investors can buy NFT via auction or fixed-price listing. After buying, ownership of the NFT will be transferred to the buyer.


● mint NFT:

Many marketplaces allow users to mint their own NFTs. This includes its changing into a digital asset, placed on a blockchain.

● to sell NFT:

Marketplaces allow sellers to place their NFTs for buying by others. Usually, sellers pay a fee to the platform after a successful transaction, however, many other platforms offer royalties for futher sales on secondary markets.

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