Stages of developing your NFT market
An NFT trading platform for buying and selling is complex software that is best left to be developed by a development company with relevant experience, such as Merehead. We have been helping companies and individuals with fintech and blockchain projects — from wallets to cryptocurrency exchanges — since 2015. To do this, our company can help you create a nft marketplace development from scratch or clone an existing platform.
Step 1: Open the project
The first step in creating an NFT marketplace is for you and the development team to examine the details of your project to assess its technical feasibility.
- Here you must answer the questions:
- In which niche will you operate?
- How exactly are you going to market the NFT?
- What is your main target audience?
- What token protocol are you going to use?
- What tech stack are you going to use?
- What monetization model will you use?
- What will make your project stand out from the competition?
- What features do you intend to implement?
- Other questions…
The answers to these questions will guide you through the development process and help you create specifications for your NFT marketplace. If you find it difficult to answer the questions, don’t worry, the development team will help you: they can describe your ideas in text and visual schematics and prepare technical documentation so you can start designing.
Once the initial concept and specifications are ready, the development team can draw up a development plan to give an approximate timeline and budget for the project. You can then start the design.
Step 2: Design and development
When all the technical requirements and the development plan have been agreed, the development team can get to work. First, you, the business analyst, and/or the designers design the marketplace user interface (framework, mockups, and prototypes) with a description of user flows and platform features. An effective architecture for the trading platform is also created.
UX/UI design . The navigation and appearance of the user interface are very important when developing an NFT marketplace platform development , since first impressions, usability and the overall user experience depend on it. So make sure your site design is appealing to your audience and simple enough to be understood by anyone even remotely familiar with Amazon and Ebay.
Back-end and smart contracts . At this level the entire back-end of your trading platform operates. When developing it, in addition to the usual business logic and marketplace functionality, you need to implement blockchain, smart contracts, wallets, and provide an auction mechanism (most NFTs sell through it). This is an example of a tech stack for an NFT marketplace backend :
- Blockchain: Ethereum, Binance Savvy Chain.
- Token norm: ERC721, ERC1155, BEP-721, BEP-1155.
- Savvy contracts: Ethereum Virtual Machine, BSC Virtual Machine.
- Systems: Spring, Symfony, Cup.
- Programming dialects: Java, PHP, Python.
- SQL information bases: MySQL, PostgreSQL, MariaDB, MS SQL, Prophet.
- NoSQL information bases: MongoDB, Cassandra, DynamoDB.
- Web crawlers: Apache Solr, Elasticsearch.
- DevOps: GitLab CI, TeamCity, GoCD Jenkins, WS CodeBuild, Terraform.
- Store: Redis, Memcached.
The front end .
This is the whole outer piece of the exchanging stage, which is answerable for the collaboration with the end client.The main task of front-end development is to ensure ease of management, as well as reliability and performance. This is an example of a technology stack for the front-end of an NFT marketplace:
- Web languages: Angular.JS, React.JS, Backbone and Ember.
- Mobile languages: Java, Kotlin for Android and Swift for iOS.
- Architecture: MVVM for Android and MVC, MVP, MVVM and VIPER for iOS.
- IDE: Android Studio and Xcode for iOS.
- SDK: Android SDK and iOS SDK.
Step 3: Test the product you have created
In this phase, several cycles of code testing are performed to ensure that the platform works correctly. The QA team performs various checks to ensure that your project’s code is free of bugs and critical bugs. In addition, content, usability, security, reliability and performance tests are carried out for all possible scenarios of use of the platform.
Step 4: Deployment and support
When the nft marketplace development service platform has been tested, it is time to deploy your NFT trading platform on a server (the cloud). Please note that this is not the last step, as you will also need to organize your support team. In addition, you also have to plan the further development of the platform to follow market trends and user expectations.