Secondary Market

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Secondary Market

Definition:

After an NFT project mints out, the NFTs can be bought and sold on the secondary market. Opensea, Looks Rare, Rarible and Super Rare are Ethereum-based examples of a secondary marketplace. This is where huge gains and losses can be made.

Degen Chat

“I bought some My Curio Cards off the secondary market from @punk6529. GMI?”

Related Terms:
  • Dictionary: Buying on Secondary
    An NFT term that relates to the period after the mint. Typically, NFTs are minted for the first time from the smart contract in a mint event. Then when all NFTs are claimed or minted, they can be traded on the secondary market, which includes marketplaces like OpenSea.
  • Dictionary: Reveal
    The reveal is often the most fun you can have in an NFT project cycle. Many projects delay the reveal to let the dust settle after mint, make sure the contracts are in order and let the secondary market find its footing. Then when the reveal happens, strap in because the price can go anywhere. Often the question is asked ‘Wen reveal?’.


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