A Solution for your NFT marketplace launch: White label NFT Marketplace Development
NFTs market is in its peak stage. This is the right time for you to launch an NFT marketplace. A white-label NFT marketplace development company can help you build your NFT platform.
After a brief lull, NFTs are witnessing enormous growth in recent years and continue in the upcoming years as expected. Henceforth, launching an NFT marketplace may turn into a game-changing decision in your life. There are already many top-level NFT marketplaces in the market, and you can launch a platform similar to them with the help of a White-label NFT Marketplace Development Company.
What is White-Labeling?
White-labeling is a process where the product or service is manufactured by a third-party company and can be used by your company under your brand name. Therefore, you can resell it to your customers as your product.
The NFT marketplaces are of the following types:
1. Public type marketplace where all types of NFTs can be sold.
2. Private-type marketplace where a selected type of NFTs can be sold.
What can be done on an NFT marketplace?
In an NFT marketplace, the seller can mint and sell different types of NFTs and buyers can either bid on them or buy them directly from a fixed price selling. The following items can be minted and traded on a marketplace.
- Video clips
- In-game items
- Plots of metaverse land
- Profile picture (PFP) images
- Accessories and Wearables
- Antique collectables
- Web domains
- Play to earn games
- Memes, and more.
Benefits of White-label NFT marketplace development:
The are many benefits that you can count on while opting for a white-label NFT marketplace development:
Cost-effective and time-saving
Developing an NFT marketplace from scratch involves a lot of time, manpower and money. In contrast, a white-label platform is prebuilt and ready to use, which can be easily customized as per your need and launched in the market in a couple of weeks.
Since a white-label NFT platform is fully engineered and comes with all the necessary security features, therefore it is impossible to hack your platform. And, ensuring the users’ information is secured on the blockchain.
The platform's UI/UX design can be customized as per your taste and requirements. Besides this, additional features are included for a facile functionality & capability of the NFT marketplace.
These white-label platforms are highly scalable and can perform well without interruption, even with 50,000 plus active users at the same time.
Advantages of developing a famous white-label NFT marketplace:
A white label NFT marketplace can benefit you by saving a lot of your time and money. Additionally, choosing a famous NFT marketplace like OpenSea Clone, Rarible Clone, CryptoPunks Clone, or any other available clone that matches your requirement can help you drive more traffic to your platform, and you can deploy similar features in your platform.
How does the NFT marketplace work?
The NFT marketplace works efficiently with the in-built smart contract and many novel features. There is a buyer dashboard and a seller dashboard.
In the buyer dashboard, the buyer has to sign up for the platform using all the mandatory details and once the buyer is verified. They can start to trade their NFTs. They can buy NFTs at a fixed price or by bidding.
Similarly, in the seller dashboard, the seller has to sign up for the platform using all the requisite details, and once the seller is verified, he can start to mint and list NFTs on the platform.
For minting, listing, and auctioning, a certain amount of fees needs to be paid by the sellers. Let’s discuss in detail the types of fees involved in the next session of the blog.
In what ways can you monetize your NFT marketplace
One of the main sources of income for a proprietor of the NFT marketplace is collecting fees for some set of operations done on the platform.
A fee can be charged for each sale and purchase of NFTs and similarly for minting NFTs. The commission can be a great source of income from your marketplace.
A fee can be charged for listing and storing all the minted NFTs. You could levy a certain percentage of a listing fee whenever the user/seller lists NFTs.
You can charge a fee for promoting the user's NFTs. This fee is optional, whereas the listing fee and commission fees are mandatory.
A fee can be charged for NFTs that are put on auction, and upon successful completion, the fee can be collected.
Mandatory features an NFT marketplace should contain.
Storefront: The first impression is the best, and this feature can create the best experience for your platform users if it is designed properly.
Search option: This option lets users easily search for their desired NFT they actually look for among a plethora of NFT collections.
Advanced Filters: This option is to make users attain their desired product quickly and effortlessly. Some filters include recently listed, most expensive, etc.
Listing: Using this option, sellers can list all their minted NFTs with necessary deets, and it will also be easy for users to view them.
Rating and reviews: This option plays a crucial role for the users to understand the performance of the platform and the scope of the forum and decide whether the platform is the right choice for them.
NFTs market is in its peak stage, attracting many people all over the world. This is the right time for you to launch an NFT marketplace. A white-label NFT marketplace development company can help you build your NFT platform as per your needs with their Ready-made NFT Marketplace Development Solutions and can help you launch your platform successfully.