69 NFT marketplaces

NFT marketplaces

Brands are finding new revenue streams in the evolving non-fungible-token sector.

Companies are growing their revenue in this new digital frontier. Where consumers are looking to collect and trade, artists and brands are ready to create and mint non-fungible tokens (NFTs)—and all parties are meeting in emerging forums in the metaverse.

Sotheby’s is the first auction house to launch a marketplace dedicated to NFTs. Announced in October 2021, its Metaverse is backed by celebrities and supports numerous digital artists that it has worked with during the past year. Managing director Sebastian Fahey told Hypebeast that Sotheby’s plans to use its “expertise and curation to the burgeoning world of art for the digitally native generation.”

In the same month, cryptocurrency exchange Coinbase announced it was launching an NFT marketplace, and opened an early access waitlist for interested investors. The Coinbase NFT platform will include “social features” supportive of the “creator economy”—people who make money from creating videos and online content.

Why it’s interesting As major brands and industries continue to invest in NFTs and participate in their trade, the metaverse is evolving in its potential for revenue and opportunities. Brands who take advantage of this uncharted territory may find new dividends in these developing marketplaces.

As major brands and industries continue to invest in NFTs and participate in their trade, the metaverse is evolving in its potential for revenue and opportunities.