What is an NFT Marketplace?
An NFT marketplace is a decentralized platform that allows users to buy, sell, trade, and share NFTs over a blockchain platform. Many NFTs are available on the marketplaces, from rare collectibles to digital art to in-game items. Some NFT marketplace like XANALIA also features Anime-based Metaverse compatible NFTs like ULTRAMAN, Rooster Fighter, etc.
NFT marketplaces usually operate on the blockchain, which means that all transactions are recorded in a public ledger, allowing for increased transparency around prices and ownership. There are many different marketplaces, each with its own listing styles and rules.
Unlike other crypto coins, which can be exchanged for one another on a 1-for-1 basis, NFTs are uniquely identifiable. This means that NFTs are “nonfungible”: they cannot be changed or exchanged for one another.