The Top 5 NFT Marketplaces

Non Fungible Tokens (NFTs) are the next big trend after the DeFi craze. They have been growing in popularity and impact lately. NFTs are Non Fungible Tokens, i.e. they are unique and not exchangeable on a 1:1 basis with other tokens. NFTs can be art, collectible cards, a person’s time or provided services, game items, domains etc and in short, all tokenizable real virtual “assets”. Why do they matter? Because they can be used convincingly to prove authenticity and ownership on the public blockchain. Just like the original items or things, they retain their worth, even though the duplicates are arguably easy to make. Just like the original Mona Lisa is worth more than the identical copy you have hanging at home. Two Ethereum standards govern the creation, modification and transfer of NFTs, namely ERC-721 (supporting single tokens creation and requiring a different smart contracts every time) and ERC-1155 (supporting batch transfer and allowing a single smart contract to mint infinite tokens). To support the NFTs indexing and sale/transfer, different marketplaces have sprung up. The top 5 NFTs marketplaces are as follows. 5. Enjin Marketplace Enjin is the official marketplace for Enjin based NFTs. It allows users to discover, buy … Continue reading The Top 5 NFT Marketplaces