Why the White-label NFT marketplace is the ideal solution for a prosperous business in the NFT space
NFTs have taken the world by storm. With the NFT boom in the past two years, many leading companies like Facebook have recently introduced NFT on their platforms. Users can now connect their crypto wallets to their accounts and display their NFTs on their profiles. Many more tech giants have started to explore the Web3 space with NFTs. Even startups and small businesses have started to immensely benefit from NFTs by developing their own NFT marketplace. But how? How much does it cost to build an NFT marketplace from scratch? Is a ready-made white-label solution better than a white-label solution? Therefore it is safe to say that the growth and success of NFTs have become inevitable in the digital space.
White-label NFT Marketplace
White label NFT marketplace is a pre-built and pre-tested NFT marketplace that can be completely customized based on users’ needs. Users can list and trade digital assets in the form of NFTs on these platforms, just like an NFT marketplace built from scratch. White-label solutions are completely customizable per clients’ requirements to create organic traffic and build a reputation for their brand.
White-label NFT Marketplace Development
Developers work on a pre-engineered NFT marketplace and customize them according to the client’s needs. Companies and entrepreneurs choose white-label solutions for their cost-effectiveness and minimum time requirements. Some of the important steps in white-label NFT marketplace development are:
➤ UI/UX: Developers build an intuitive and attractive theme to showcase the platform’s features. Creating a sophisticated and user-friendly interface can drive organic traffic toward your platform.
➤ Smart Contract: NFT marketplaces are not monitored by any third parties or an admin. Therefore, Smart contracts are developed to execute transactions on the platform and avoid misleading transactions. Smart contracts monitor all functions on the platform.
➤ Storage: Storage for the platform is built to store currencies, NFTs, and transactions on the platform. Developers build IPFS storage for NFT storage and DB to store users’ data.
➤ Development Process: Before the integration process, developers get approval from clients for the UI design. Then, after working on the front and back-end development process, developers integrate the front and back-end features by setting up buttons.
➤ Testing: Once the platform is completely developed, developers run multiple tests on the platform with a QA team to look out for bugs and errors. They resolve all those bugs that are found on the platform.
➤ Launch: Once the platform is good to go, developers deploy the marketplace on the client’s server, which will be available for global users.
Benefits of a Whitelabel NFT marketplace
- White-label NFT marketplace takes less time to launch and is highly cost-effective when compared to a marketplace developed from scratch.
- With a white NFT marketplace, you can have the history of data for each NFT and the user’s history.
- A Whitelabel marketplace is highly scalable. It can perform seamlessly even with 50000+ active users on the marketplace. The marketplace is already audited with smart contracts where all the errors and bugs on the platform are fixed.
Features of your White label NFT marketplace
➤ Storefront: The first impression of your marketplace determines the overall success of your marketplace. Develop an attractive storefront with all features to gain traffic for your marketplace.
➤ Auction: One of the prominent features of an NFT marketplace is Auction and bidding. If creators do not wish to list their NFTs for a fixed price, they can put their NFTs on Auction and could retain users for a long period of time.
➤ Security: Security is one of the most important parts of the NFT marketplace development. Develop a secure marketplace with DDOS, CSRF, SSRF, and more features to avoid security threats and gain trust in your marketplace.
➤ Dashboard: Build an informative dashboard for users and admin. On dashboards, users can find information about NFTs, listings, and previous transactions.
Most sought White label NFT marketplace
Deploying a White label NFT marketplace like popular marketplaces like Raresea and Rarible can help you gain traffic for your marketplace. Due to their unique features, most entrepreneurs prefer to customize their marketplace, like the NFT marketplaces.
➤ OpenSea-like NFT marketplace OpenSea-like marketplace is built on the Ethereum network. It facilitates hassle-free selling and trading of NFTs with a highly secure platform. Its smart contract is audited and is developed with multi-chain functionality. It can run on different blockchain networks like Polygon, Solana, BSC, etc.
➤ Rarible like NFT marketplace Rarible like the marketplace is a highly customizable marketplace built on Ethereum. It supports various NFTs like art, music, metaverse, videos, etc. Due to its immense popularity and unique features, it is another highly sought-after white-label marketplace.
Criteria for choosing a Whitelabel solution
- Make sure the solution provides the necessary elements fundamental to operations in the marketplace.
- Make sure your problems are addressed, and all your queries are answered during in-store operations.
- The solution must be stable with seamless performance
- The cost to run your NFT marketplace should be cheaper compared to other white-label NFT marketplaces.
To conclude, Whitelabel solutions take a lot less time and are highly cost-effective when compared to a marketplace developed from scratch; it has become the go-to choice for entrepreneurs looking to develop their own NFT marketplace. If you’re looking to launch your own NFT marketplace, then it is recommended that you approach a professional NFT development company for a Whitelabel solution for your business.
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