Nowadays, almost all assets are sold as lucrative Non-Fungible Tokens (NFTs). Crypto collectibles have been a resounding success on the market, as the numbers demonstrate. According to the NonFungible database, institutional and retail investors purchased 39,821 digital collectibles worth $51.47 million in the last seven days. Thus, aspiring entrepreneurs can get started by partnering with a reputable mobile application development company. Trained blockchain developers will use cutting-edge technologies and tools to create a ready-to-use NFT marketplace.
HOW DOES A NFT MARKETPLACE ASSIST IN DOMINATING NUMEROUS INDUSTRIES?
A white-label NFT marketplace can assist in simultaneously ruling multiple sectors. As a result, entrepreneurs can acquire a pre-built NFT marketplace and launch it in a variety of industries.
It includes art (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 (Moment and Xcad Network), and sports (Foundation.app and SuperRare) (NBA Top Shot and Sorare).
Additionally, crypto preneurs can sell a variety of different digital assets on a single platform by acquiring white-label clone solutions from Nifty Gateway, OpenSea, Rarible, and WazirX. Additionally, they can obtain a fully-functioning NFT marketplace for the sale of domain names, memes, music, photographs, trading cards, and software licenses.
What is the step-by-step process for launching a white-label NFT marketplace?
Generally, establishing a ready-made NFT marketplace entails several stages.
It is divided into several phases, including
- Examining the entrepreneur’s business objectives and operational plans.
- Choosing the industry to focus on and the audience to target.
- Finalizing the blockchain network in preparation for the deployment of the pre-built NFT marketplace.
- The creation of a user-friendly interface (UI). It will be appropriate for all age groups and socioeconomic classes.
- Establishing the NFT marketplace’s prototype. It includes fundamental features such as bid acceptance, auction administration, digital wallets, KYC/AML verification, and payment processing.
- A dedicated team will conduct controlled tests on the prototype.
- Additionally, all necessary features are integrated into the White-label NFT marketplace’s front-end.
- Configuration of the operational server in the platform’s back-end.
- Experienced quality assurance testers assess the performance, security, and speed of the pre-built NFT marketplace.
- The platform for selling crypto collectibles was launched at the optimal time in the market.
What revenue streams does a White-label NFT marketplace have?
By owning a ready-made NFT marketplace, entrepreneurs can generate unimaginable revenue. They profit from auction fees, bidding fees, a commission paid to content creators on each sale, gas fees, listing fees, minting fees, new artist registration fees, and transaction processing fees.
The revenue generated varies according to the trading volume, the number of artists, the total primary sales, and the blockchain network type. Crypto Preneurs who are astute can generate additional revenue by organizing private sales, selling multiple NFTs in a single auction, and showcasing the crypto collectibles of various brands and celebrities.
Will a mobile application development company provide post-deployment support for a pre-built NFT marketplace?
Entrepreneurs can ensure the smooth operation of their white-label NFT marketplace by enlisting the assistance of a reputable app development company. They can take advantage of premium services such as API integration, bug fixes, the addition of a payment gateway and a Point of Sale (PoS) system, KYC and AML verification, legal compliance, maintenance of the pre-built NFT marketplace, smart contract auditing, software upgradation, and technical support.
Finally,
Above all, a white-label NFT marketplace provides entrepreneurs with a higher return on investment (ROI). They can assist investors in purchasing cryptocurrency collectibles worth several million dollars on a daily basis. Additionally, crypto preneurs can grow their businesses by raising capital from well-known venture capitalists (VCs).
Notably, Coin Ranking reports that there are 973,739 Non-Fungible Tokens (NFTs) in circulation worldwide. As a result, the creator economy continues to grow in strength. Additionally, a pre-built NFT marketplace bridges the divide between the artist and his or her intended audience. It obviates the need for intermediaries in the distribution of content.
As a result, accelerate your progress in the crypto sector by partnering with an app development company to acquire the Whitelabel NFT marketplace. Soon, you’ll witness incredible trading volume and sales!
