NFT Market Structure

Definition ∞ NFT market structure refers to the organizational framework and operational characteristics of platforms facilitating non-fungible token transactions. This encompasses various marketplaces, auction mechanisms, pricing models, and underlying blockchain protocols that support the buying, selling, and trading of unique digital assets. It includes primary sales from creators and secondary markets where NFTs are resold. The structure influences liquidity, price discovery, and accessibility for participants.
Context ∞ News frequently reports on the evolving NFT market structure, noting shifts in platform dominance, the emergence of new asset classes, and the impact of creator royalties. Key discussions revolve around the centralization versus decentralization of marketplaces, regulatory efforts to classify NFTs, and the sustainability of current valuation trends. The development of interoperable standards and improved user experiences remains a focus for market participants.