29 MAY 2023
By: JASMINE ANAND
NFT marketplace is a platform or a marketplace that functions as a public blockchain platform. These are dedicated marketplaces that store, sell & even create NFTs.
According to data from Coingecko, as of February 2023, Blur, a leading NFT marketplace, holds 56.80% of the market share. It is an Ethereum-based NFT marketplace designed to cater to the needs of advanced NFT traders.
Holding 36.50% of the market share, OpenSea boasts over 80 million NFTs and has a trading volume of more than $20 billion.
Having 2.60% of the market share, X2Y2 is a decentralised NFT marketplace. Owing to its low fee structure & transparency, X2Y2 has become quite popular among users.
Magic Eden is on the Solana blockchain & has a market share of 2.10%. It boasts of being one of the most user-friendly platforms on the market.
Another renowned NFT marketplace is LooksRare, having 1% of market share. It is a decentralised NFT marketplace that runs on Ethereum & actively rewards traders, collectors, and creators for participating.