A non-custodial marketplace simply facilitates the smart contract transaction. Both NFTs and crypto reside in the owner’s wallet, and the wallet owner has sole control of the private keys. NFTs are traded from wallet to wallet.
A custodial marketplace makes the trade on the collector’s behalf, holds the assets in custody for them, and also keeps the private keys to the account. The collector logins with a registered account to get to them. The main advantages of a custodial marketplace are ease of use and easier account recovery.
Some non-custodial marketplaces:
Some custodial marketplaces:
- Nifty Gateway
- Binance NFT marketplace
- Crypto.com NFT