It is essential to know the possibilities of NFT marketplaces for every subject who tries to investigate this sphere. Here’s a step-by-step breakdown:
1. Account Creation: While buying NFT, the users are required to make a registration on the NFT marketplace and fill in the necessary details of their profile.
2. Browsing and Selection: People can go through all availed NFTs, which sometimes can be sorted by the category, popularity, or the artist who created it. For instance, pinpointing particular interesting items on a website is easier since the focus will be based on the preferred categories.
3. Payment Methods: The current account includes an option where users can add a payment method. And while some of them operate on users’ cryptocurrencies, others may use credit cards or other settlement systems.
4. Buying NFTs: As for the exchange of NFTs, these can be bought for a particular price or through bids that are made by users. The person at the end of the auction bidding the highest price gets the NFT.
5. Transaction and Ownership Transfer: After a transaction is made, the record of the transaction is recorded on the blockchain of the marketplace hence preventing any transfer without consent.
6. Minting NFTs: For those who want to directly buy and sell digital assets some provide the minting function that enables talents to upload content and add terms.
