Namebase NFT Marketplace Review
Namebase NFT Marketplace is a part of Namebase's product offering. The company was founded in 2020 and is based out of the US. The NFT platform is built on Handshake Blockchain and uses a native coin Handshake coins (HNS) for transactions.
HNS is being backed by many well-known investors; Sequoia, Andreesen Horowitz, and Polychain Capital are some of the names on the list. It is also witnessing a growth in industry-wide adoption.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Namebase NFT Marketplace Focus
The Namebase NFT platform facilitates auctioning, buying and selling of top-level domain names. The key focus of this business is to decentralize the billion-dollar DNS industry.
Namebase NFT Marketplace Fees
When you make a trade at the Namebase NFT portal, they charge you a commission. This commission is normally a percentage of the sale amount in the relevant trade. This fee is deducted from the total sale value when a buyer pays for the purchase and the seller receives the balance amount.
Namebase NFT Marketplace charges 3.00% per trade in commission.
Layout of Namebase NFT Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from Namebase NFT Marketplace:
Namebase NFT Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal deposits.
On this platform, you can use BTC and USD. USD deposits and withdrawals (for when you sell HNS) are done through ACH transfers (Automated Clearing House transfers). This means that debit or credit card deposits are not yet available here. Based on the information we received, the platform is in planning to start wire transfer services in the future.