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What Is the Mechanism of an NFT Marketplace Like OpenSea?
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rachelgrace
What Is the Mechanism of an NFT Marketplace Like OpenSea?
Users who use NFT marketplace apps like OpenSea can buy and sell digital collectibles. Anything from in-game stuff to crypto art can be considered collectible. The marketplace serves as a go-between for the buyer and seller. It is in function of arranging the transaction and ensuring that both parties are happy.
For each transaction, a tiny fee is levied by the marketplace. This fee is applied to the marketplace's operating expenses. Additionally, it contributes to the market's profitability.
For each transaction, a tiny fee is levied by the marketplace. This fee is applied to the marketplace's operating expenses. Additionally, it contributes to the market's profitability.
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