NFT One Marketplace Review
NFT One is an NFT marketplace operating on the TRON blockchain (TRX). Launched in 2021, it is the first NFT marketplace to be powered by the Tron blockchain. It allows registered artists to publish their artworks for sale or auction on its marketplace. It accepts investors from across the globe.
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).
NFT One Marketplace Focus
NFT One marketplace is an emerging marketplace and accepts a variety of artworks from individual artists. It has no specific focus or a central theme to it. Currently, it has listed digital artworks on Dinosaurs and nature photographs around the Mendocino Hotel.
Below is an image of one of the listed artworks on the NFT One marketplace.
We are keeping a track of all new listings and will update our review soon.
NFT One Marketplace Fees
When you make a trade at NFT Marketplaces, they may charge you a commission or platform fee. NFT One charges artists a 2% commission on the sale value for all closed deals. Buyers are not charged any commission; however, the platform levies a fee of 10 TRX. It is charged from the user’s account to the NFT One services. This includes a 5 TRX fee for updating the ownership details of the asset on the network.
Layout of NFT One 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 showing the layout of the NFT One Marketplace:
Quoting at 8,000 TRX, the “Allosaurus Excavation” is the highest priced artwork on the marketplace. Each artwork displays attributes like a short description of the artwork, transaction history and a bid history for auctions. Here's a peek into the artwork.
NFT One 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. But NFT One portal does not accept either of these payment methods.
Payments can only be done through TRON Coin (TRX). For a list of exchanges where you can buy TRON Coin, click here.