NFT and NFT Marketplace
Unique digital tokens (NFTs) on Ethereum representing ownership of art, collectibles, or utilities, traded on marketplaces like OpenSea and Blur.
What is NFT and NFT Marketplace?
Non-fungible tokens (NFTs) on Ethereum are ERC-721/1155 standard assets proving unique ownership of digital items like art or game assets, minted since 2015’s Etheria project; marketplaces facilitate buying/selling with $161 avg price across 80M+ items in 2025. Ethereum hosts 52+ platforms, led by Magic Eden (aggregating multi-market listings, cross-chain support) and OpenSea (4M+ sales, $1.2K avg), using IPFS for immutable metadata. Blur dominates trading (pro-focused), while LooksRare rewards with LOOKS tokens; total volume hit $25B+ in 2024 peaks.
Related Terms
IOSCO Stablecoin Rules
International Organization of Securities Commissions' Standards applying securities regulations to stablecoins for investor protection and market integrity.
Weak Hands
Investors or traders who sell their digital assets quickly during market downturns or price declines, often at a loss, due to low patience or risk tolerance.
Rug Pull
A scam in the digital asset space where developers or promoters of a project abandon it after raising funds, leaving investors with worthless tokens or assets.
Taproot
Taproot is a Bitcoin protocol upgrade that enhances privacy, efficiency, and smart contract capabilities by introducing a new transaction type and signature scheme.
SPL (Solana Program Library)
A standardized set of protocols and tools on the Solana blockchain for creating and managing fungible and non-fungible digital assets, similar to Ethereum’s ERC standards.
Solana Token Program
A core Solana onchain program with the program ID `TokenkegQfeZyiNwAJbNbGKPFXCWuBvf9Ss623VQ5DA`, enabling the creation, transfer, minting, and freezing of fungible and non-fungible digital assets.