How to Choose an NFT Marketplaces Is the marketplace centralized or decentralized ?

The first thing you should know about NFT marketplaces is that they usually focus on specific niches. One platform could be all about digital art space, while another could sell in-game assets. Make sure you know what you are looking for before you start picking out an NFT marketplace.

Second — you want to find a marketplace that a lot of other people are using, and using actively. The more people use the platform, the higher your chances of finding buyers for your NFTs. More activity also usually means more competitive prices — which is probably what you are looking for.

This third step might be the hardest for those new to crypto — get to know the infrastructure and governance setup of the marketplace and how it impacts the way you access both the NFT market and your NFTs.

Is the marketplace centralized or decentralized?

Centralized marketplaces often operate as the middlemen between users and the NFT market, while the decentralized options enable more or less direct access to the market.

Centralized NFT marketplaces store NFTs on behalf of users.

On the other hand, the decentralized alternatives let users have more control over their assets.

It is also worth mentioning that the governance system of the marketplace will go a long way to determine whether you can purchase NFTs with fiat currencies — an important consideration.

And last but not least — do your own research. Check out the reputation of the marketplace!

You are probably aware that there are tons of scammers and shady projects out there — so don’t skip your due diligence here. You have got to ask yourself: 

How safe is your digital asset and personal information on the platform? What security measures will the platform take in case of fraud?