Utility Tokens in NFT Marketplaces: Worth Your Money?

  • Regardless of the serial number on a dollar bill, one dollar is always one dollar.
  • Any one-dollar bill can be substituted for a one-dollar bill.
  • Similarly, most cryptocurrencies are fungible.
  • Their uniqueness and ownership can be verified,
  • They can be used across multiple applications developed by different companies, and
  • They can be easily traded through secondary markets.

How NFTs Work

NFT Growth in Q1 2021

The Modern NFT Marketplace

  • They are the creators of the work, and
  • The work is unique.

Why do we need NFT Marketplaces?

  • To pay for transactions on your selected blockchain platform, you’ll need a digital wallet to store NFTs and cryptocurrency.
  • Purchase cryptocurrencies, such as Ether, or the currency supported by your chosen NFT provider.
  • Credit cards can be used to purchase cryptocurrency on various platforms.
  • Users could transfer cryptocurrency from exchanges to wallets of their choice.

How NFT Marketplaces Have Enabled NFT Growth

Utility Tokens

Utility Tokens in NFT Marketplaces



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store