The whole world has welcomed the emergence of Non-Fungible Tokens (NFTs). These unique crypto collectibles are offering more returns than other assets like bonds, debentures, gold, mutual funds, real estate, and stocks. It has performed impressively in the competitive industry. Digital collectibles have accumulated a market capitalization of $17.46 billion and $1.48 billion in daily trading volume as per CoinMarkerCap.
This is the right time for aspiring entrepreneurs to initiate NFT marketplace development. The market is witnessing record-breaking sales of NFTs in the form of artwork, cartoons, domain names, fashion accessories, gaming assets, memes, music, photographs, source code, trading cards, tweets, videos, and virtual property.
Various NFT Marketplace Development Solutions?
Listing of NFTs in various standards - A skilled app development company will help artists mint ERC-721, ERC-1155, and TRC-721 standard assets on various NFT marketplaces. This will ensure a high price for their valuable crypto collectibles.
White-label e-commerce based NFT marketplaces - Entrepreneurs can rule the booming online shopping world easily. They can acquire NFT marketplaces like eBay clone and Sweet.io NFT distribution platform (integrated with Shopify).
Online gaming based NFT marketplaces - It includes Axie Infinity, CryptoKitties, and Gods Unchained. Players get exciting rewards and prizes by winning different contests and tournaments.
Popular NFT marketplaces - Entrepreneurs can be the trendsetter in the crypto industry by purchasing clone solutions such as Bitski, Cryptograph, Enjin, Foundation, MakersPlace, Meebits, Mintable, Nifty Gateway, OpenSea, Rarible, Solible, SuperRare, and WazirX.
Crypto collectibles are bought and sold through live auctions. Interested investors make bids beforehand and the NFT seller selects the best offer.
Virtual real estate NFT marketplaces - An app development company allows investors to buy and sell virtual property across different locations. It comprises clone solutions like Decentraland, Polka City, and The Sandbox.
White-label sports-themed NFT marketplaces - An app development company will offer exclusive accessories and sports goods for basketball and football fans. Trained blockchain and crypto developers create clone solutions of popular NFT marketplaces like NBA Top Shot and Sorare.
Social media themed NFT marketplaces - Clever cryptopreneurs can monetize content like emojis, GIFs, memes, photos, tweets, and videos. They can get hold of white-label NFT marketplaces like Momint and Xcad Network. Moreover, social media-based NFT selling platforms encourage free speech and there are no censorship-related restrictions.
Creation of NFT marketplaces on several blockchain networks - NFT selling platforms can be established on numerous blockchain networks. It includes Binance Smart Chain (BSC), Cardano, EOS, Ethereum, Flow, Polkadot, Solana, Stellar, and TRON.
Integration with different digital wallets - Crypto collectibles of investors are safeguarded on multiple digital wallets. These software wallets are embedded with multi-layer security measures like anti-DDoS protection, end-to-end encryption, two-factor authentication, passwords and private keys.
NFT buyers and sellers can utilize wallets like Binance Chain Wallet, Brave, Coinbase, Dapper, Fortmatic, MetaMask, MyEtherWallet (MEW), Portis, Torus, Trust Wallet, WalletConnect, and WalletLink.
Conducting KYC/AML verification - A reputed app development company assures a safe and trustworthy NFT trading experience for all buyers and sellers. They conduct Know Your Customer (KYC) verification for all investors. Additionally, Anti-Money Laundering (AML) checks are done for all stakeholders to prevent frauds and misuse of funds.
NFT Marketing services
Crypto collectibles need to be aggressively promoted to get a greater value during sales. An app development company will implement online promotional campaigns across multiple communication channels.
It includes participating in discussions on crypto forums, preparation of case studies, lead generation reports, and whitepapers, publishing press releases and targeted advertisements, sharing of newsletters to investors via email, social media engagement (Facebook, Instagram, and Twitter), and promotion on other platforms like LinkedIn, Reddit, Steemit, Telegram, and YouTube.
What are the lucrative sources of revenue of an NFT Marketplace?
Importantly, entrepreneurs mint money from auction fees, bidding charges, a commission from sellers for each trading deal, gas fees, listing charges, minting fees, publishing of strategic ads, registration charges from artists and content creators, and transaction processing fees.
Besides that, owners of an NFT marketplace earn additional income by conducting a private sale of NFTs to a small group of investors and selling multiple crypto collectibles at the same time.
What is the Cost to Build an NFT Marketplace Platform?
Different factors determine the total expenditure for offering NFT Marketplace development services. It relies on the choice of basic and advanced features, hourly/ weekly charges paid to the developers, multi-platform compatibility, the frameworks and tech stack used, the level of customization demanded by the entrepreneur, and the time taken.
Moreover, entrepreneurs will have to spend money on post-deployment support like API integration, fixing bugs and glitches, maintenance, software updates, and technical assistance.
Above all, Non-Fungible Tokens (NFTs) are the talk of the entire world now. Particularly, its special characteristics like decentralization, indivisibility, interoperability, non-interchangeability, scarcity, and transparency have attracted millions of institutional and retail investors.
Therefore, progressive entrepreneurs can grab this great chance by getting NFT marketplace development solutions. Moreover, owners of a crypto collectible selling platform will witness a rapid surge in profits, revenue, and trading volume. Hence, allocate resources for NFT marketplace development now and experience the benefits of unmatched growth soon!.