All you should know about the newly launched Bybit NFT Marketplace

Bybit, one of the fastest growing cryptocurrency exchanges, recently launched its own marketplace to join the trend of non-fungible tokens (NFTs).

Launched on January 20, the new Bybit NFT Marketplace is a one-stop destination where users can list, sell, buy and trade digital collections.

NFT purchases and transactions

The new marketplace leverages a simple and simple process for both NFT buyers and sellers.

The platform eliminates the need to create or import cryptocurrency wallets, allowing registered Bybit customers to buy and trade NFTs simply by using their Spot Account assets.

Interested buyers can find all the important information by clicking on Bybit’s NFT profile page, as well as checking the ownership history of the listed collections to verify their authenticity. It’s not complicated.

On the other hand, NFT owners can resell NFTs to other Bybit users and will soon be able to withdraw NFTs into their personal wallet.

Bybit currently charges buyers a zero transaction fee, but sellers only a 1% transaction fee per transaction.

NFT list and sale

As a loyalty payment, the cryptocurrency exchange pays the original owner 1% of all secondary NFT sales, except for revenue reductions from the primary sale.

Some NFTs on the market are sold as “mystery boxes” that contain randomized items from the collection at various rarity levels.

Instead of selling directly to other Bybit users, sellers can choose to sell their NFTs as a mystery box.

Cryptographic exchange is currently helping to create NFT projects, but Bybit will soon be able to create and list NFTs for authors and rights owners themselves.

By posting an NFT on Bybit, creators, developers, brands, or intellectual property owners will have instant access to a base of 5 million traders.

In the near future, the marketplace will also support sales through NFT auctions.