NFT marketplace on Cardano blockchain

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The overwhelming popularity of NFTs has made it a new trading entity in which luxury brands and celebrities have started investing. Since NFTs are a form of assets, they need a virtual marketplace, called an NFT marketplace, where people can buy and sell NFTs. Popular blockchain such as Ethereum, Solana, Binance, and Cardano offers an open blockchain ecosystem to develop the NFT marketplace. This article will explain how to develop the NFT marketplace on Cardano.




What is an NFT Marketplace?
 

NFT marketplace is a decentralized platform where NFT creators and investors come together to buy and sell NFTs. Most of these NFT creators are artists, music composers, game creators, brands, and influencers. In comparison, the investors are crypto traders, art collectors, and gamers. Powered by blockchain, NFT marketplaces are open and decentralized. It allows the artists to monetize their artwork by minting the NFTs to a tamper-proof public ledger.


Such lucrative features of the NFT marketplace continue to attract crypto enthusiasts. In addition, the Cardano NFT marketplace has gained popularity by providing users access to primary and secondary markets. It means that an NFT creator can prove his NFT ownership. Meanwhile, he receives royalties even when the ownership changes and that NFTs are traded in the secondary market.

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