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tomhollon
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Smart contracts are the backbone of decentralized NFT marketplaces. They are self-executing contracts with the terms of the agreement directly written into code. In NFT marketplaces, smart contracts facilitate the creation, transfer, and management of NFTs. They automate transactions, ensuring trust and transparency as every action is recorded on the blockchain, making it tamper-proof. Smart contracts eliminate the need for intermediaries, reducing the risk of fraud and enhancing efficiency. To gain a deeper understanding of the role of smart contracts in these marketplaces, check this informative
