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I have confused about selling the nft in two marketplaces at the same time (e.g. OpenSea and Rarible), so I have some questions:

Is it possible to list the nft in different marketplaces?

For example, If the nft is sold in OpenSea, How does Rarible discover that? Or marketplaces lock the nft for themselves?

How do marketplaces control this process?

Thanks in advance

3 Answers 3

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Blockchain is single-threaded and linear in its nature. Different marketplaces may display your NFTs on their platforms, but universally they are still in your wallet. What you do when you put it on sale is just authorizing the marketplace to change the owner of the NFT at the point of purchase. That is how one NFT can be on different platforms at the same time.

If two separate transactions happen at the same millisecond with the same amount of gas on two different platforms, one of them (arbitrarily) will go through and one will fail due the seller no longer being the owner of the NFT.

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I think the answer of this question is NO. As according to ERC721 standard by openzeppelin, only one address can be approved for one tokenId at given time. And we know that NFT marketplaces work with the "transferFrom" function, so it is impossible to list one NFT on 2 or more different marketplaces at the same time. Even if you try to do so then the NFT will be listed on the latest marketplace as it's address will be now new updated address being approved address for that NFT.

Explanation by openzeppelin...

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  • Tokens can be approved to multiple spenders with setApprovalForAll, so this answer is wrong.
    – 0xSanson
    Sep 19, 2023 at 22:06
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  • Is it possible to list the nft in different marketplaces? Yes
  • If the nft is sold in OpenSea, How does Rarible discover that? Each nft marketplace exposes API /orders other marketplace can discovery by that way
  • Marketplaces lock the nft for themselves? They cannot lock by listing. Listing sign off-chain (or on-chain) by user signature and approve marketplace contract can send your token
  • How do marketplaces control this process? Answered above

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