NFTs cannot be listed on cryptocurrency exchanges like traditional tokens due to the unique smart contracts used in their creation. Instead, NFTs have their own dedicated marketplaces where trading, selling, and minting transactions take place. These NFT marketplaces are platforms where NFTs can be stored, traded, viewed, and created.
To trade on an NFT marketplace, you must first register on the platform of your choice. The next step is to integrate your blockchain-compatible wallet, supported by the chosen platform, into the system. Once that is done, you can create your profile on the designated page and begin carrying out your desired actions.
Types of NFT marketplaces
NFT marketplaces are divided into types with content types and the different opportunities they provide.
Curated Platforms
Some NFT platforms work exclusively with authorized artists, while others require new users to be referred by existing members. In short, if you want to create NFTs on these platforms, you must first go through an approval process.
These platforms allow you to produce not only simple collections but also high-quality digital artworks. They curate the NFTs you create, which is why they tend to have high transaction fees and offer limited flexibility in setting royalty percentages for your NFTs.
SuperRare
Foundation
KnowOrigin
Self-Service Platforms
These platforms allow anyone to create NFTs without the need for approval or referrals. You can create NFTs in any format you choose and set your desired royalty percentage from future sales with flexibility.
However, because these platforms are open to everyone, there is a higher risk of impersonators and scammers operating within them.
Opensea
Rarible
Mintable
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