Non-Fungible tokens are a type of a digital asset like art, music, video games etc. They are bought and sold digitally, in exchange for cryptocurrencies. NFTs are sold in different websites, depending upon the items, there are various websites that are used to sell the NFTs. These websites are known as NFT Marketplaces.
NFT Marketplaces is a platform for trading various digital artworks and collectibles, which is powered by blockchain infrastructure and community. It provides high liquidity for users who want to create, buy and sell NFTs.
Source: Dappradar and Algorithm Research
Note: The size of the bubble reflects the number of traders in the marketplace.
NFTs create a block chain based digital certificate for your digital asset, and this certificate gives a unique identity for your digital asset. The block chain technology stores all the details related to the NFT such as buyer, seller, certificate of ownership and the amount sold for. Each NFTs represents unique assets, Which can be bought and sold digitally with real money or in exchange of cryptocurrencies. NFTs majorly exist in ethereum blockchain. Where the distributed public ledger records all the transactions happened over all the NFT marketplaces. Volume of sales happened in last one month by top marketplaces are: OpenSea: 6.85 billion, Axie Infinity : 2.17 billion, NBA Top Shot : 685 million, Rarible: 212 million, and SuperRare: 121 million.
Source: Dappradar and Algorithm Research
Popular NFT Marketplaces
OpenSea.io: This peer-to-peer platform bills itself a purveyor of rare digital items and collectibles.
Rarible: Similar to OpenSea, Rarible is an open marketplace that allows artists and creators to issue and sell NFTs. RARI tokens issued on the platform enable holders to weigh in on features like fees and community rules.