Overview

Secondary NFT marketplaces are the go-to platforms for artists to list and sell artwork and for collectors to buy into popular collections after they have been minted on a primary marketplace and find new investment opportunities.

In October 2022, the Ripple blockchain voted to support NFTs via a new standard called XLS-20, which permits increased functionality like leveraged auctions, efficient storage mechanism, direct cuts of secondary sales to the original minter, and even co-owning NFTs.

Key Takeaways For Creators

When it comes to selecting the right secondary marketplace, creators have plenty of fantastic NFT marketplaces to list their collection on for XRP-specific projects and benefit directly by being able to:

• Mint NFTs directly on selected secondary marketplaces to leverage an existing audience of interested buyers

• Verify your collection with a unique token ID to give buyers peace of mind and to identify you as the original owner

• Easily link your wallet to facilitate transactions and have your NFTs stored safely prior to listing

• List NFTs for sale with low transaction costs to ensure you retain even more profits after selling

• Add artist royalties on selected secondary marketplaces to generate passive income for resales on the secondary market

Key Takeaways For Collectors

For collectors, these sites present a wealth of opportunities to pick up and trade NFTs after they’ve been listed on the secondary market. Benefit by being able to:

• Find “the” NFT for your private collection filtering a collection by price, listing date, and NFT metadata

• Outbid collectors for one-of-a-kind NFTs by participating in auctions

• Uncover NFT bluechip projects by DYOR with all the project information you need on hand

• Verify artist collections using their unique policy ID before buying into any project

• Easily link your wallet to facilitate transactions safely and securely

Browse existing marketplaces and grow your portfolio with our complete guide on XRP secondary marketplaces.