Will Paras be the OpenSea Killer? Everything You Should Know About the NFT Marketplace on NEAR

Introduction

If you are an avid crypto collector, you have probably come across the term "NFT" or "non-fungible token". A digital asset that is unique and cannot be replaced by another one of its kind is known as an NFT. This makes them ideal collectibles because each NFT is unique.

The NFT market now includes Paras as a new participant. Paras is an NFT marketplace based on the Near protocol. Near is a decentralized platform that enables the creation and use of NFTs. 

What is Paras, an NFT marketplace based on the Near protocol?

Users can buy, sell, and trade NFTs on the NFT marketplace known as Paras. The system is based on the decentralized Near protocol, which enables quick and secure transactions. Paras uses the "Atomic Swap" feature of the Near protocol to facilitate NFT trading. This means that users can trade NFTs without having to trust a third party to hold or manage their funds.

The fact that Paras supports a variety of NFTs is one of its key advantages. Whether you want to trade art, music, or even gaming items, you are likely to find it on Paras. Additionally, the platform includes an integrated wallet where you can keep all of your NFTs.

With a focus on user-friendliness, Paras stands out from other NFT marketplaces. The team behind Paras has created an easy-to-use platform that makes buying, selling, and managing NFTs a breeze. 

What features does the Paras NFT Marketpalce offer?

The platform is still in beta but has already received a lot of acclaim due to its unique features. Some of the key features of Paras are:

Decentralized: Paras is a fully decentralized platform that runs on the Near protocol. This indicates that no intermediaries or centralized authorities are involved in the transactions. This makes the platform extremely secure and trustworthy.

Reasonably priced: Paras charges a fee of 5% of each successful transaction. 

Wide selection of NFTs: Paras sells a variety of NFTs, including works of art, musical instruments, and video games. This makes it one of the most comprehensive NFT marketplaces currently available.

In addition, Paras offers a number of features that make it interesting for both collectors and creators. For instance, on the platform, creators can, mint their own NFTs and set their own prices. And if you want to buy an NFT, you can do so directly through the creator's wallet. It's worth a look at the platform if you want to collect or create NFTs!

How is Opensea different from the Paras NFT marketplace?

OpenSea is the largest decentralised peer-to-peer exchange market for the purchase and exchange of NFTs. The OpenSea network utilizes the Wyvern Protocol, which enables users to conduct transactions with one another in an immediate, absolute, and trustless manner.

The primary difference is that this website only accepts NFTs, or digital goods, for transactions. You can develop custom marketplaces for NFT art projects and auctions for selling them using the OpenSea platform. You can even set fees for your tokens using this platform.

Self-executing smart contracts are used to support platform transactions because OpenSea's marketplace is noncustodial. Therefore, fair trading is assured. Or the parties don't trade at all if both the buyer and the seller are in win-win circumstances.

Since OpenSea offers peer-to-peer trades, where there is no middleman between buyer and seller, the platform nonetheless charges a 2.5% fee for each successful transaction. Even though this might sound like a lot, OpenSea offers a transaction cost that is significantly lower than those charged by the majority of NFT marketplaces, some of which can reach 15%.

Conclusion

As a whole, Paras is a feature-rich NFT marketplace. It is secure to use, and finding what you're looking for is simple. Moreover, you can easily buy and sell items on this platform. The Paras marketplace is undoubtedly the best place for you if you're interested in buying or selling NFTs.