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.
attention for Mike Winklemann’s (Beeple) collection.
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