What is an NFT marketplace?
It is a customizable online platform that provides access to offers to sell and buy non-fungible NFT tokens. Non-fungible tokens are digital objects that represent real objects.
What is a non-fungible token?
A non-fungible token, or NFT, is a digital asset certified using blockchain technology. The cryptography of these tokens is what makes these assets unique and indivisible. These assets can be anything from virtual goods to collectibles; each one is unique and has its own value. Additionally, NFTs are stored on a blockchain, ensuring their authenticity and security. You can trade digital artwork, game characters, in-game items, and more.
What characteristics should a non-fungible token have?
Non-fungible tokens or NFTs have four main characteristics: they are indivisible, unique, transferable, and capable of proving their scarcity. One of the keys to certify these characteristics and facilitate the interoperability of these assets on multiple platforms are the various existing standards, the most widely used standard being ERC-721, from Ethereum, and the most recent being ERC-1155.
What features should an NFT marketplace include?
The characteristics of an NFT marketplace will depend to a greater extent on the type of project that we are going to develop, but some of the essential characteristics that you must include in your NFT market are:
- Intuitive navigation and ease of use.
- Multiple integrations with web3 wallets.
- Multichain medium.
- Multiple payment options.
- Features and tools for a good user experience.
What are the advantages of having our own NFT market?
Creating your own NFT marketplace is a relatively complex process. At Beltsys Labs we help you develop and launch your own NFT marketplace development. As we have already seen, it is evident that NFT marketplaces are a commercial tool that pushes businesses towards new frontiers, launching your own NFT marketplace can be a lucrative and rewarding experience.
Let's see the main advantages of having your own NFT marketplace:
- Decentralized and censorship resistant: No single entity (for example, a government or a corporation) can control or censor the marketplace
- Security: Blockchains are very secure and NFTs cannot be counterfeited or duplicated
- Flexibility: NFTs can represent anything that can be tokenized, such as digital artwork, game characters, in-game items, and more.
How much does it cost to develop it?
The answer is complex and depends to a greater extent on the characteristics of the project that we want to carry out, the number of blockchains, types of wallets and functionalities that we want to integrate.
Another important item in the custom development of an NFT marketplace is the part of development and auditing of smart contracts, something essential for the proper functioning of our platform.
If you are interested in receiving an economic offer for the development of your NFT marketplace, please contact us. Request a quote .
Are there options to avoid having to develop an NFT marketplace?
Yes, there are many free options on the market. Just as there are different types of NFTs (PFP collections, music, sports clips, 1 of 1 digital collectibles), there are also NFT marketplaces that sell one or a particular type of NFT.
We are going to detail some of the advantages and disadvantages of these services.
Advantage
- Free service, without development costs in exchange for a % of sales.
- Immediate incorporation, sell your collections without waiting.
- Shared URL, your users will have to search for you within the platform.
- No infrastructure requirements or smart contract programming.
- Limited blockchains, you have little leeway to choose which one to post on.
Disadvantages
- High cost in paying sales commissions.
- Very low level of customization, you will not be able to adapt it to your corporate image.
- You use your own domain, increase the brand image.
- You are not the owner of your market and you cannot define your own business logic.
- You can choose the blockchains that best suit you and your users.
What is a marketplace NFT white label or white label and what advantages does it have?
A white-label marketplace is an unbranded online platform that is developed and sold to businesses as a service. Businesses can buy access to the NFT marketplace, add their brand to it, and resell it as their own as if they had developed it themselves.
There are many reasons why this may be a better option than a marketplace that is built from scratch. White-label NFT Marketplace development service is typically sold under a Software-as-a-Service or SaaS model, making it very attractive to companies that cannot afford the full cost of development up front.
Some of the main advantages of a white label marketplace are:
- No initial investment or development costs.
- Fully customizable: domain, CSS, etc.
- It does not require technical knowledge.
- Various supported blockchains: Ethereum, Polygon, Kalyn, etc.
- Diversity of web3 wallets: Metamask, Wallet Connect, Coinbase Wallet, Binance Wallet, hardware wallets, etc.
- No waiting for verification of collections.
- Configuration of sales royalties.
- From 0% for transaction fees.
- Minting pages included.
- Auction mode available.
