Crypto NFT Market Place

September 17, 2021

Introduction to NFT‘s Market Place

Inarguably, NFTs are driving their way towards entering the crypto sphere as collectors. These non-fungible tokens are fondly known as nifties and are minted on the Ethereum network.

Though transactions majorly take place with Ethereum yet it nowhere indicates that other marketplaces remain unheeded. Yes, the emerging NFT marketplaces have become prominent platforms to allow trading in multiple cryptocurrencies and promote digital art. Art-Specific

Art-Specific NFT Market Places for Crypto

The various marketplaces boldly leaving their marks in the NFTs domain have become the hot potato in the crypto recipe.

1 Additionally, digital assets like Axies, ENS names, Decentraland, Crypto kitties, etc. can be traded on this platform. Thus, it is the most democratized digital art market globally with no restrictions on minting, processing, and transferring.
2 Similarly, Super Rare, another NFT Marketplace, strongly focuses on buying and selling unique or single edition artworks. These artworks are tokenized as crypto-collectibles and are secured using cryptography. Though this platform presently works with few hand-picked artists, its growing significance cannot be denied either. 
3 Rarible which is a community-owned market place distributes 75000 RARI every week and focuses on art assets such as books, music albums, photography, Games, etc. Here, the art is mixed with collectibles to be listed with multiple editions rather than a single edition of super Rare.
4 Though Known Origin, Nifty Gateway, Makers Place, Async Art, Enjin Marketplaces are a few of the least talked NFT marketplaces. However, these tiny toddlers serve as an excellent option for not only promoting the meme art but the real art too.
Makers Place is expected to provide a higher bid than any other platforms while receiving major
attention for Mike Winklemann’s (Beeple) collection.
5 On Async Art users can buy both “Masters” and “Layers”. By now, the Async Art bid has hiked more than $ 6 Million since February 2020 whereas the sales have exceeded $1.5 million in a year and the scenario goes the same for other NFTs’ market place too.

Non – Art Specific NFTs Market Places for Crypto

The concept of NFTs has dominated multiple websites in today’s era. As a result of which several NFT markets have emerged in recent times.

1 The Atomic Market is a shared liquidity-based NFT market where everything is listed in one place and is displayed on all other marketplaces. The Atomic Assets works on eosio blockchain technology.

2 On the other hand, Bakery Swap is the decentralized exchange (DEX) and automated market maker (AMM) based on Binance Smart Chain (BSC).

This marketplace uses Bakery Swap token (BAKE) to offer decentralized finance (DeFi) services, hosts digital art & meme competitions and games too. The users can use “combo meals “for earning bonus tokens.

3 There exists another online marketplace named Portion which connects the artists and collectors through its Blockchain technology.

This allows users to own collectibles with complete transparency. ERC-20 is the token used by Portion to liquidate mining, artists’ grants, and create partnerships. At present,  each New Portion Tokens are worth 500 PRT each.

Future of NFTs Market Place

 

The plummeting NFT prices are the new ray of hope for the world of digital art. Alone in the first quarter of 2021, the market value of the 38 NFTs was tracked more than $22.5 billion by the Coin Market Cap.

The inflationary hype in the NFTs is going ahead with the terminal velocity and there is a lot that is yet to happen in these established and emerging market places.  So, wait here to watch out for what’s next

 

Exclusively hand curated news, written precisely in short by our editors for a 60 seconds read! We understand that reading multiple news from various resources could be monotonous, time consuming and less interesting. At Dcryptonews, you will experience a new style of reading news with smart keyword, ease of language that is easy to read for a quick news grasp.