What is an NFT Marketplace Platform?


Key Takeaways

Looking for information on NFT marketplace platforms? An NFT marketplace is a platform that facilitates the sale and storage of NFTs. To use these platforms, users need to have a cryptocurrency wallet where they can store and trade their NFT tokens. By creating an account and uploading their work, users can sell their digital artwork on the marketplace.

2 Types of NFT Marketplaces

There are two types of NFT marketplaces: horizontal/generic and vertical/niche. Horizontal NFT marketplaces cater to a wide range of audiences, allowing sellers to list various types of NFTs such as images, music, memes, and more. Examples of horizontal NFT marketplaces include OpenSea, Rarible, Magic Eden, Solsea, Sudoswap, and more.

Vertical NFT Marketplaces

Vertical NFT marketplaces, on the other hand, are niche-based applications that allow people to mint and trade NFTs based on specific niches. These platforms focus on a single niche, making it easier to get noticed by a niche audience. Popular niches tapped by these applications include music, in-game assets, videos, profile pictures, and artworks. Examples of vertical NFT marketplaces include SuperRare, Nifty Gateway, Foundation, Sorare, Axie, NBA Top Shot, Royal, Cryptopunks, and more.

Specialized NFT Marketplace

Specialized NFT marketplaces are generally preferred over conventional ones because they offer everything a client could need, including expertise in promoting online artworks and focusing on specific target audiences. With the rise of NFTs, it’s important to understand the different types of NFT marketplaces available in order to choose the right platform for your needs.