Non-fungible Tokens (NFTs) have been seeing vertical growth since 2021. In contrast to the uncertainty of the overall crypto market, NFTs have only grown with time in value, owing to their varied utility. NFTs have seen a market capitalization of around $40B in 2021, and 2022 is just adding up the numbers.
While a project would primarily have a launchpad limited to its collection, however, multiple NFT projects can be seen only on NFT marketplaces.
What Is An NFT Marketplace?
NFT marketplace is a unique platform where the entities ensure the NFT collection is displayed, traded, and segregated in accordance with the users/ preferences. In simpler terms, it is an individual’s platform to pick and choose their desired NFT or the whole collection. As much as, NFT marketplaces are handy and easy to access, one has to set up the following:
A Crypto Wallet:
A crypto wallet that’s compatible with the efficient blockchain network is mandatory to ensure transparent financial statements. However, with Jump.trade one can integrate their fiat ids and process their transactions. One has to fund their wallet and use it as per their NFT trades. The amount of one fund should be in line with the value of the NFTs launched, (i.e) a minimum amount of one fund in their wallet.
User Account/ Login:
In any marketplace, the user is expected to hold an account, which is primarily for their login, wallet, and other required processes. User login helps the marketplace to even track the records of the NFT holders.
Monitoring What’s Happening:
The NFT marketplaces in general have multiple columns, where one can see for themselves and analyze the NFTs, their market value, and the respective demand.
Jump.trade marketplace holds multiple sections, comprising What’s Trending, Live Auctions, Recently Sold, and Listed NFTs. Where each NFT holder or first-time NFT buyer can make their conscious choices, for their virtual digital asset.
In the Jump.trade marketplace, once the NFT is bought, you become eligible for a one-of-kind utility, the Meta Cricket League (World’s First P2E CricketNFT Game).
Types Of NFT Marketplace:
One can find numerous NFT marketplaces, and multiple platforms to access various types of NFTs available in the Web3 domain. Prominent NFT marketplaces including OpenSea, SuperRare, Foundation, etc have set the pace since 2021… Just when NFTs witnessed an unbelievable boom.
Be it sports, brands, art, or even music, the NFT marketplace is for all kinds of digital assets. Specific marketplace launched and trade specific types of NFTs. Jump.trade, as its initial collection, is concentrated on gaming NFTs – Meta Cricket NFT Collection – will focus on cricket NFTs with both players and signed bats. It will, very soon, also be launching other international content.
What Future Awaits:
NFT marketplaces are a mere platform that enables every NFT enthusiast to witness world-class projects in their respective marketplaces. With the involvement of global brands and renowned celebrities, NFTs are here to stay and so are marketplaces. With more gaming NFTs coming to the spotlight, the trend will be more inclined towards how gaming and NFTs can do wonders together. Jump.trade’s MCL NFTs as a start for the same.
Conclusion:
The world of Web3 has always amazed the blockchain spectrum with innovations on a frequent basis. NFTs and their outreach are no different when it comes to seeing the peak in a very short span, and NFT marketplaces are perhaps the destination for every NFT geek to ensure accessibility and its future benefits.
Considering the elaboration stated above, it is not wrong to say that an NFT marketplace is the essence of today’s blockchain arena.