NFTs, DAOs & Web3

What is an NFT marketplace?

An NFT marketplace is an online platform where users mint, list, buy, and sell non-fungible tokens, with ownership transfers recorded on a blockchain. It connects buyers and sellers and handles the on-chain transaction at the point of sale. For example, a creator lists a digital artwork, a buyer pays in the chain's currency, and the marketplace facilitates the transfer of the token to the buyer's wallet. Marketplaces differ in supported chains, fees, and how they handle creator royalties, so terms vary from one platform to another.