What is blockchain in context to the NFTs?
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NFTs are digital tokens backed in the blockchain that also supports cryptocurrency. These tokenized assets can be any digital object converted into code that is traded, bought, and sold on the NFT marketplace. NFTs range anything from art, music, or video. When these tokens are sold, it technically means individuals own the rights and the sole ownership to sell the digital assets and not necessarily the physical manifestation of the asset.
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Blockchain is the backbone of the crypto trade. It is an extensive and well-structured online ledger. It makes it possible to ensure an asset's originality and to authenticate the ownership of the said asset. This aspect of the sector’s use cases makes NFT trading the perfect vessel for investments. They assure originality and rarity. The authentication and the recording process of the NFTs in the blockchain are called minting.
Blockchain-based NFT Marketplace.
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The dedicated market for NFTs that helps with hosting them for trade is called an NFT Marketplace. These markets are the online art galleries for creators to display their artworks. Since the trade is global the exposure and the eyeballs on the display increase by leaps and bounds. This still poses a drawback in the traditional format of art dealing. The NFTs have cut short the need for an art dealer and limitations of exposure due to geographical barriers.
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There are many examples of blockchain-based NFT marketplaces available to cheese from. Some are dedicated customized markets and others are more public.
Platforms that help in the NFT marketplace regard.
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Opensea, rarible, and sandbox are a few examples of public marketplaces that host a plethora of creators under one roof for all their NFT marketing and trade needs.
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No-code launchpads like Guardian Link helps creators to create their own dedicated customizable NFT marketplace with a click of a few buttons.
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All these various projects listed in their own marketplace are minted and developed with standard practices on the blockchain.
Subsequent resales of the NFTs.
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Oftentimes than not NFTs minted in certain marketplaces can only be listed in their own dedicated secondary marketplaces or the same marketplace. It can be due to the particular ECR standards they were developed on. This helps with maintaining some organization within the launches, decluttering, and saturation. Though it’s not always the case with all the NFTs.
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Some of the newest secondary marketplaces that are launching are from BeyondLife and Colexion.
