OpenSea reigned as the top NFT marketplace in 2021, but a number of competitors are catching up. Here's five NFT marketplaces to watch this year.
Based on a statement made by Coinbase, Coinbase NFT will be peer-to-peer “...with an intuitive design built on top of a decentralized marketplace.” Initially following the ERC-21 and ERC-1155 standards, the product also has plans to support multi-chains in the future.
More than the amount of volume trading, Coinbase touts its robust user experience and seamless user interface design that is streamlined and user-friendly. Even though many take to Twitter and The implications of it being a centralized platform are that the platform tends to enforce less autonomous perks to its owners and more restrictions and limitations due to securities laws concerns. Unlike OpenSea where users have full autonomy over their digital assets up until the sale, FTX NFTs implements bidding mechanisms. As Brett Harrison, President FTX.
The consequence came as a result of United States regulatory concerns. Projects on the Ethereum network are also vetted to make sure they are abiding by securities laws and to ensure they are not counterfeit knockoffs.Solana nft devs— Ayofinance Regardless of its minor hiccups, the marketplace has received attention and undercuts its rival in fee structure. FTX NFTs has a fee structure of 2%, while Coinbase’s is 2.5%.
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