'The NFTs Marketplace and its Dependence on Centralized Web2 Services' by 0xabiodun web3 oct_network
Over the years, the existence of intermediaries such as corporations and centralized platforms that possess a monopoly on creative ownership has hindered artists from enjoying the full economic value their artworks have to offer. However, with the advent of, the creative business has been drastically transformed and a new paradigm that allows for direct creative ownership between artists and their communities, free of centralized organizations, has emerged.
Generally, these specialized marketplaces for the listing and trading of NFTs possess certain features. There is usually a dashboard that provides users with all the information needed for a listed asset such as the owners of such asset, the bids on the asset, the value history and also offers previews of the digital collectible. More advanced marketplaces also have a function for advanced token search that allows users to get complete information on listed NFTs via a simple search.
On the other hand, an augmented marketplace is a niche marketplace that focuses and services a narrower category of users. Unlike Streamlined Market Places, Augmented Market Places offer numerous value added services including but not limited to minting of NFTs, marketing,NFTs, like the bulk of crypto assets, are built on decentralized blockchain technologies.
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