Almost all assets are being sold as lucrative Non-Fungible Tokens (NFTs) these days. The numbers reveal that crypto collectibles have been a resounding success in the market. Both institutional and retail investors purchased 39,821 digital collectibles worth $51.47 million in the last 7 days as per the NonFungible database. So, aspiring entrepreneurs can get the ball rolling by partnering with a reputed app development company. Trained blockchain developers will create a ready-made NFT marketplace by using the latest technologies and tools.
How does a Ready-made NFT marketplace help in dominating many industries?
A White-label NFT marketplace can help in ruling several sectors simultaneously. Therefore, entrepreneurs can get a ready-made NFT marketplace and launch it in numerous industries.
It comprises Artwork (Foundation.app and SuperRare), E-commerce (eBay and Sweet.io integrated with Shopify), Gaming (Axie Infinity, CryptoKitties, and Gods Unchained), Real Estate (Decentraland, Polka City, and The Sandbox), Social Media (Momint and Xcad Network), and Sports (NBA Top Shot and Sorare).
Further, cryptopreneurs can sell all kinds of digital assets on a single platform by acquiring white-label clone solutions of Nifty Gateway, OpenSea, Rarible, and WazirX. They can also get a ready-made NFT marketplace for selling domain names, memes, music, photographs, trading cards, and software licenses.
What is the detailed process followed to Launch White-label NFT Marketplace?
Generally, there are various stages involved to establish a Ready-made NFT marketplace.
It includes several phases like
- Studying the business goals and operational plans in the minds of the entrepreneur.
- Deciding the industry to focus on and the target audience.
- Finalizing the blockchain network for deploying the ready-made NFT marketplace.
- Creation of the friendly User Interface (UI). It will be suitable for all age groups and sections of society.
- Establishing the prototype of the NFT marketplace. It contains basic features like accepting bids, conducting auctions, digital wallets, KYC/AML verification, and payment processing.
- A dedicated team will test the prototype in controlled conditions.
- Furthermore, all the needed features are integrated into the front-end of the White-label NFT marketplace.
- Setting up of the operational server in the back-end of the platform.
- Well-versed QA testers evaluate the performance, security, and speed of the ready-made NFT marketplace.
- Launching of the crypto collectible selling platform at the right time in the market.
What are the multiple revenue streams of a White-label NFT marketplace?
Entrepreneurs can mint unimaginable revenue by owning a ready-made NFT marketplace. They pocket auction fees, bidding charges, a commission from content creators for each sale, gas fees, listing charges, minting fees, registration charges from new artists, and transaction processing fees.
The income varies depending on the level of trading volume, the number of artists, total primary sales, and the type of blockchain network. Clever cryptopreneurs can pocket extra revenue by organizing private sales, selling multiple NFTs in a single auction, and showcasing the crypto collectibles of different brands and celebrities.
Will an app development company offer post-deployment services for a Ready-made NFT marketplace?
Entrepreneurs can ensure the uninterrupted functioning of their white-label NFT marketplace by seeking support from a prolific app development company. They can avail premium services like API integration, bug fixing, the inclusion of a payment gateway and a Point of Sale (PoS) system, KYC and AML verification, legal compliance, maintenance of the ready-made NFT marketplace, smart contract auditing, software upgradation, and technical support.
What is the budget to launch White-label NFT Marketplace?
There is no fixed expenditure for creating a ready-made NFT marketplace. It depends on the market conditions and numerous factors. Generally, the majority of expenses rely on the choice of basic and premium features, cross-bridging with different blockchain networks, the extent of customization, hourly salaries paid to the developers, the nature of the tech stack, and the time spent.
Above all, a White-label NFT marketplace offers a higher return on investment (ROI) for entrepreneurs. They can help investors to buy crypto collectibles worth several million dollars daily. Further, cryptopreneurs can expand their business operations by raising funds from popular venture capitalists (VCs).
Importantly, there are a total of 973,739 Non-Fungible Tokens (NFTs) in the world according to Coinranking. Hence, the creator economy is getting stronger every day. Moreover, a ready-made NFT marketplace bridges the gap between the artist and his/her target audience. It eliminates intermediaries involved in content distribution.
Hence, progress rapidly in the crypto sector by collaborating with an app development company to obtain the Whitelabel NFT marketplace. Experience unbelievable trading volume and sales soon!