NFTrade Review

If you're like me and constantly on the hunt for the best NFT platforms, choosing the best solution can be confusing at times, especially with numerous options in the market right now. But you've come to the right place! My NFTrade review is here to unpack what makes this multi-chain NFT marketplace stand out. 

With giants like OpenSea and Binance NFT Marketplace dominating the scene, NFTrade offers a fresh perspective by supporting multiple blockchains. But what does this platform have to offer and is it worth your time?

Find out what NFTrade is all about, explore its features, the pros and cons of using it, and address the burning question: is NFTrade safe? by reading this review. Expect to learn more about the fees involved and the step-by-step process of navigating and using the platform effectively. 

Whether you're a seasoned NFT collector or just starting out, this NFTrade marketplace review is a good place to get a comprehensive look at everything you need to know about the platform. Without further ado, let's get started!

Verdict at a glance: NFTrade is a versatile and comprehensive NFT marketplace, offering cross-chain capabilities and a full lifecycle of NFT management. With its aggregated platform and dedicated educational resources, it stands out in the NFT space. However, occasional slow performance on the website, abandoned initiatives, and the lack of updates from the team in recent months did not leave a good impression on me.

What is NFTrade?

NFTrade is a decentralized NFT marketplace designed to make creating, buying, selling, and swapping NFTs as seamless as possible.

This platform implements the concept of blockchain-agnosticism, which refers to a single platform that allows the use of multiple different chains^[1]. NFTrade supports multiple networks, including Ethereum, Binance Smart Chain, Avalanche, and Polygon. This means you can access a wider variety of NFTs and enjoy greater flexibility in your trades.

History and Inception

To give you a better understanding of NFTrade, let's take a step back and look at its history. NFTrade was created to address the growing demand for a more versatile NFT marketplace. The platform was officially launched in 2021 by a team of blockchain enthusiasts who saw the potential in a multi-chain approach. The idea was simple: create a one-stop-shop for all things NFT, where users from different blockchain ecosystems could come together and trade without limitations.

The founders recognized that while platforms like OpenSea and Binance NFT Marketplace were popular, they didn't aggregate listings from other marketplaces. By curating listings from other platforms, NFTrade aimed to provide users with a more inclusive and comprehensive NFT trading experience. Since its inception, NFTrade has quickly gained traction, attracting a diverse user base and continuously expanding its features to meet the evolving needs of the NFT community.

NFTrade in the Current NFT Landscape

In the dynamic landscape of NFTs, NFTrade has carved out a unique niche for itself. As I will explore in this NFTrade review, the platform's multi-chain support sets it apart from many competitors. With the ability to trade NFTs across various blockchains, NFTrade offers unparalleled flexibility and access to a broader range of digital assets. This is a game-changer for collectors and traders who want to diversify their portfolios and explore NFTs beyond a single network.

But it's not just the multi-chain support that makes NFTrade stand out. The platform is also known for its user-friendly interface and comprehensive features. Whether you're looking to create, buy, sell, or swap NFTs with others, NFTrade has got you covered. The swap feature, in particular, allows for direct peer-to-peer exchanges, eliminating the need for intermediaries and streamlining the trading process.

As for the burning question, "Is NFTrade safe?" the platform takes security seriously. Transactions are conducted through smart contracts, ensuring transparency and reducing the risk of fraud. Additionally, being a decentralized platform, NFTrade gives users full control over their assets, which is a significant plus for those concerned about security and ownership.

To sum up this section of the NFTrade review, NFTrade is a versatile and user-friendly NFT marketplace that caters to a wide range of needs. Whether you're an experienced trader or a newbie, the platform offers something for everyone. With its unique multi-chain approach, comprehensive features, and strong security measures, NFTrade is well-positioned to continue growing and making a significant impact in the world of NFTs.

NFTrade Review: PROS

NFTrade comes with several unique capabilities that make it a potential choice if you’re looking for a new NFT marketplace. Here are some of its main strengths:

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Cross-Chain Capability

In this NFTrade review, one feature that stands out above the rest is the platform’s cross-chain compatibility. When I first explored the NFTrade marketplace, I was blown away by its ability to support multiple blockchains seamlessly. This isn’t just a cool feature; it’s a game-changer for the NFT world. Unlike many other marketplaces that restrict you to a single blockchain, NFTrade allows you to trade NFTs across various chains, including Ethereum, Binance Smart Chain, Avalanche, and Polygon, all in one place.

This cross-chain capability means you have access to a much broader range of NFTs. You’re not limited to the offerings of just one network, which significantly enhances your trading options and opportunities. For instance, you could find a unique piece on Ethereum, swap it for something on Binance Smart Chain, and then farm it on Avalanche—all without leaving the NFTrade platform.

But it’s not just about variety; it’s also about convenience. The NFTrade marketplace simplifies the process of managing assets across different blockchains, saving you time and effort. This level of integration is something I haven’t seen on many other platforms, making NFTrade a standout choice for serious NFT collectors and traders. In the rapidly evolving NFT landscape, cross-chain compatibility truly sets NFTrade apart from the competition.

Comprehensive Platform

Another remarkable strength of the platform that I want to highlight in this NFTrade review is its vision to host the entire NFT lifecycle. When I first delved into the NFTrade marketplace, I was impressed by how comprehensive the platform is. It’s not just about buying and selling; NFTrade aims to be the one-stop shop where you can create, change, and swap NFTs across multiple blockchains.

Let's start with creation. On NFTrade, artists and developers can mint their NFTs directly on the platform. This seamless integration makes it easier for creators to launch their digital assets without needing to jump through multiple hoops or platforms. Once your NFTs are created, the platform offers a range of options to manage and utilize them effectively.

Changing or modifying NFTs is another handy feature. Whether you need to update metadata or tweak some elements, NFTrade allows these changes to be made smoothly. Swapping is where things get even more interesting. With NFTrade's cross-chain compatibility, you can swap NFTs directly with other users across different blockchains, making trades more flexible and opening up more opportunities.

In this NFTrade review, it’s clear that the platform's vision to host the entire NFT lifecycle is a game-changer. By offering a full suite of tools and features, the NFTrade marketplace ensures that users have everything they need to maximize their NFT experience, from creation to leveraging assets. This holistic approach truly makes NFTrade a standout in the crowded NFT space.

NFT Aggregation

Unlike other platforms that focus on a single blockchain or a specific type of NFT, NFTrade brings together a vast array of NFTs from multiple sources. This all-in-one approach makes it incredibly convenient for users to find, trade, and manage their NFTs without hopping between different platforms.

Think about it—if you’re an NFT enthusiast, you’re likely familiar with big names like OpenSea and Binance NFT Marketplace. While these platforms are great, they often limit you to the assets available within their specific ecosystems. NFTrade changes the game by aggregating NFTs from various marketplaces, giving you access to a more extensive and diverse collection of digital assets.

What I love about this aggregation is the sheer convenience it offers. Instead of juggling multiple accounts on different platforms, you can explore a wide variety of NFTs right within the NFTrade marketplace. This saves time and streamlines the entire process, making it easier to discover unique pieces and new opportunities across different blockchain networks.

In this NFTrade review, it’s evident that the platform’s aggregated approach is a significant advantage. By offering a comprehensive selection of NFTs in one place, NFTrade enhances the user experience and makes it a go-to destination for collectors and traders alike. Whether you’re looking to diversify your collection or simply enjoy the convenience of a centralized platform, NFTrade’s aggregation feature is a game-changer.

Dedicated Blog and Educational Sections

I’m a sucker for websites and platforms that have integrated educational resource pages, and NFTrade is one of them. In my opinion, blockchain-based brands need to understand that this industry is relatively new, and educating potential customers is a big part of building their businesses. 

In this NFTrade review, I want to highlight the platform’s dedicated resource pages—specifically, the Blog and Academy sections—which are invaluable for users looking to deepen their understanding of NFTs and the NFTrade marketplace.

The Blog section on NFTrade is a treasure trove of information. It includes articles that cover updates related to the platform itself, as well as broader NFT-related topics. This constant stream of updates keeps users informed about the latest developments, new features, and important announcements. Whether you’re looking for news about a new blockchain integration or insights into the latest NFT trends, the NFTrade blog has you covered.

Then there’s the Academy section. It’s designed to help beginners get a grip on the basics of NFTs. From how to create and mint your first NFT to buying, selling, and even understanding the broader implications of NFTs in the digital economy. This educational resource can be helpful for newcomers who might feel overwhelmed by the complexities of the NFT landscape.

At the time of writing this NFTrade review, the Academy page only has 33 articles, which is not super comprehensive. But, I still appreciate NFTrade’s decision to provide these resources which demonstrates NFTrade’s commitment to educating its user base.

By providing these resources, NFTrade not only helps users make informed decisions but also fosters a more knowledgeable and engaged community. This is especially important in the fast-evolving blockchain space, where staying updated can make a significant difference.

In this NFTrade review, I want to point out that the platform’s Blog and Academy sections are essential tools that enhance the user experience. By prioritizing education and constant updates, NFTrade sets itself apart as a platform that truly cares about its users' growth and understanding of the NFT ecosystem.

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NFTrade Review: CONS

While NFTrade has several strong points, it also comes with some downside. Let’s take a look at two factors to consider before choosing NFTrade as your marketplace of choice.

Slow Website

Speed is a crucial element especially if you want to check the price of your favorite NFT and grab it as fast as you can. So, a slow platform can be a significant obstacle for you and it also reflects badly on the user experience. This is what I experienced when testing out the platform for this NFTrade review.

The site loads seamlessly most of the time, but there are occasions when it keeps loading when trying to show stats from some collections, particularly Doodles. Switching between different listing sorting options sometimes resulted in slow loading time as well.

I’m not sure if it has something to do with the collection itself or if it is a bug from the site. Maybe it is because NFTrade is aggregating listings from other marketplaces as well, so it takes longer to load content. But regardless, it certainly wouldn't be a pleasant experience for the users.

One way to potentially fix this issue is for the NFTrade team to optimize their backend infrastructure. Improving server response times and enhancing the platform's ability to handle high traffic could make a significant difference. 

Additionally, implementing better caching mechanisms might help reduce load times and ensure a smoother browsing experience for users. As someone who values efficiency, these changes would definitely enhance my overall experience in the NFTrade marketplace.

Another suggestion would be to conduct regular performance audits and user feedback sessions. By actively seeking out and addressing these types of issues, NFTrade can continue to improve its platform and provide a more reliable service. 

After all, in the fast-paced world of NFTs, every second counts, and a seamless experience can make all the difference. This proactive approach would not only benefit current users but also attract new ones, solidifying NFTrade's reputation in the market.

Abandoned Initiatives

During my initial research process to write this NFTrade review, I found several interesting initiatives and features that the platform offered, like the NFT launchpad and the native token NFTD. Unfortunately, finding any recent information regarding these on the official website or its social platforms was quite difficult.

I tried joining NFTrade’s official Discord server and found the supposed link to NFTD’s page. But, no luck—it led to a 404 page which is a strong sign that it is an abandoned initiative.

Speaking of the Discord server, it is not exactly active either. At the time I accessed it, most of the discussion channels were riddled with spam. I could only find bits and pieces of questions and conversations from the actual members of the servers with no responses from any mods or admins. However, I have to disclose that I didn’t check the official NFTrade Telegram channel when writing this review.

The platform's official Twitter or X account is not too different. At the time of writing, the last few posts from the account were from a month earlier, all of which promoted educational content from the Academy page on NFTrade’s site. No updates regarding the state of the platform itself or any new initiatives.

Now let me be clear, in the volatile and dynamic industry of Web3, businesses need to be quick to adapt to the situation. Coupled with the NFT downtrend in recent years, forfeiting projects and initiatives might be the only solution. 

But, from the customer’s perspective, seeing signs of abandoned projects and neglected communication platforms would not inspire trust or confidence for those who want to use a thriving and sustainable platform.

NFTrade Features

A platform’s features are what make it unique compared to its competitors. So, does NFTrade have what it takes to outmatch other big names like OpenSea and Binance NFT Marketplace? Let’s take a look.

Easy Switch Between Chains

As I mentioned in the PROS section of this NFTrade review, one of the platform’s strongest points is its cross-chain capability. You can discover NFTs from various blockchains like Ethereum, Binance Smart Chain, and Avalanche among others.

You can switch your main blockchain at the dropdown menu at the top left. Usually, you will have to confirm the change on your wallet as well. This will change the default blockchain on the marketplace page. For example, when I set the main blockchain as Ethereum, I will only see Ethereum-based listings unless I change the filter.

Managing the filter is easy. There is a side panel on the marketplace page where you can choose which blockchain you want to include. This feature is very helpful, especially for those who appreciate the convenience of discovering NFTs from various blockchains within a single platform.

NFT Creation

NFTrade offers a feature that lets you create your own NFT and mint it on any of the supported blockchain. You can mint a single NFT or a collection and get full ownership and control over it. The process is very simple. All you have to do is click the “Create” button on the homepage, and you will be directed to a new page. Here, you can upload your file and fill out the information.

However, you can’t delete any NFTs you’ve already minted since all tokens are immutable once released. The only alternative you can do to discard your NFTs is to ‘burn’ them, which basically means sending them to an inaccessible address.

All in all, I think this feature is pretty handy. It represents NFTrade’s aim to host the entire NFT lifecycle by allowing users to create, sell, and swap their creations all within a single platform. 

NFT Swap

In this NFTrade review, I want to highlight one of the platform’s coolest features—the NFT swap. The NFTrade marketplace offers decentralized and escrowed peer-to-peer (P2P) transactions, allowing you to swap NFTs directly with other users. What’s great is that this process involves zero counterparty risk and doesn't require third-party verification.

Here’s how it works: You can propose a swap, and the other party can either accept, counter, or reject your offer. You’ll instantly receive a notification through the bell icon next to your cryptocurrency wallet address once they make a decision. This instant notification feature ensures you’re always in the loop about the status of your swap.

The best part is that everything happens quickly and smoothly. You don’t have to wait endlessly for a response, making the whole experience efficient and user-friendly. Having a reliable and secure swap feature like this on NFTrade is a huge plus. It’s just another reason why the NFTrade marketplace stands out in the crowded NFT space.

NFTrade Fees

Another important aspect I want to touch on in this NFTrade review is the platform’s fees. Similar to other blockchain-based platforms, NFTrade transactions incur gas fees. These are the fees you pay when you initiate an action that is to be recorded on the blockchain^[2], including buying or selling NFTs.

You are paying gas only once for the approval of the entire collection on the blockchain, meaning that every future NFT you want to list from the same collection is free. Delisting or changing the price of an NFT requires a new transaction and new gas fees.

NFTrade itself doesn't charge a platform commission for NFT creation. However, there is a fee associated with selling NFTs. For example, if you’re selling a MEO World NFT, you may need to pay a fee of around 2%.

Unfortunately, it is difficult to find a clear fee structure for this platform. There is no dedicated information page for this and in most cases, you can only find out the fees on a case-by-case basis.

How to Use NFTrade?

Now that we know the inside out of NFTrade, it is time to explore how to actually use the platform. Take a look at these easy step-by-step guides to help you navigate the marketplace easier.

How to Log In to NFTrade

First thing to know, logging in to NFTrade. The process is super simple:

Step 1: Click the wallet icon on the top right of the page, then choose your preferred wallet.

Step 2: You’ll get a prompt to connect your wallet to NFTrade, confirm the prompt on your wallet.

Step 3: You can now start exploring the platform! If you want to manage your profile, click on your profile picture on the top right and choose “Preferences”.

How to Buy NFTs on NFTrade

Now that you have an account on NFTrade, here is how you but NFTs on the platform:

Step 1: Go to the “Marketplace” > “All NFTs” menu to open the marketplace page and discover newly listed NFTs. You can also use the search function to find a specific collection.

Step 2: Alternatively, you can go to the Trending or Top Collection sections to see what’s gaining traction on the platform.

Step 3: Once you find the item you want to buy, click on it to open the detail page. If it is listed, you can click the “Buy now” button. Otherwise, your options are to make an offer or propose a swap to the owner.

Step 4: Proceed with the checkout process and sign through your wallet to finalize the purchase.

Step 5: You’ll see a window confirming your completed purchase. You can choose to view the NFT on your wallet or list it for sale immediately. Regardless, now the NFT is yours!

How to Sell NFTs on NFTrade

“But what about selling NFTs on the platform?” you might ask. Don’t worry! Here is a simple step-by-step guide to list your NFT for sale on NFTrade:

Step 1: Click on your profile avatar on the top right and choose “My account”.

Step 2: Under the “Items” tab, you will see the NFTs that you own. Click on the one you wish to sell.

Step 3: Click the “Sell” button and a popup window will appear. Here you can specify the price for the NFT and check your potential profit. Check the box for the terms and conditions and click “Post Your Listing”.

Step 4: Confirm and sign the transaction on your wallet then your listing will be complete.

Step 5: Now that your NFT has been listed in the marketplace, all you have to do is wait for an interested buyer.

Conclusions

In this NFTrade review, I've taken a deep dive into what makes this platform unique and worth considering in the bustling NFT landscape. NFTrade's cross-chain capability stands out, allowing users to trade NFTs across multiple blockchains seamlessly. The platform’s comprehensive approach, hosting the entire NFT lifecycle from creation to leveraging, is impressive and convenient.

Another significant strength is its role as an aggregated NFT marketplace, providing a vast array of NFTs in one place, unlike more specialized platforms like OpenSea and Binance NFT Marketplace. Additionally, NFTrade's dedicated Blog and Academy sections offer valuable educational resources and updates, keeping users informed and engaged.

However, NFTrade isn't without its flaws. The platform can sometimes be slow, which can be frustrating when trying to quickly snag a favorite NFT. There are also some abandoned initiatives and neglected social platforms that might leave users wary.

So, is NFTrade safe? While no platform is entirely without risks, NFTrade’s robust features and dedication to user education suggest it’s a trustworthy option in the NFT landscape. However, if you expect a platform with an active and engaging community behind it, you might want to find other options.

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Scientific References

1. Mondragon A. E. C., Mondragon C. E. C. , Coronado E. S.: Feasibility of Internet of Things and Agnostic Blockchain Technology Solutions: A Case in the Fisheries Supply Chain;

2. Koutmos D.: Network Activity and Ethereum Gas Prices