NFT Marketplaces | OpenSea Acquires NFT Aggregator Gem - 2022
In a recent email to the investors in Gem, the NFT marketplace aggregator platform came the huge surprise that the popular NFT marketplace OpenSea had acquired the company. Gem is an NFT aggregator platform that allows its users to buy NFTs across various marketplace platforms. Buyers on the platform can buy the lower-end NFTs of a particular collection by being able to search across many marketplaces under the same roof.
According to Gem, the acquisition offer was unexpected, but this would help them to learn more about the infrastructure of the OpenSea NFT marketplace platform. A blog post on OpenSea’s website said that the move would help the platform learn the expertise and intuitions about the advanced NFT community from the Gem aggregator.
If you are a small-time crypto business enthusiast looking to delve deeper into the NFT world, then developing your own NFT marketplace like OpenSea can be a massive kickstart to your campaign.
Why can an NFT Marketplace be a Profitable Venture?
An NFT marketplace business can profit you in many ways as new creators are jumping on the NFT bandwagon every day, and most of them are in search of an NFT marketplace to have their NFT items listed for sale. So, carrying out NFT marketplace development based on your innovative thoughts can be a game-changer if the crypto world whole-heartedly adopts your products. Even if you do not become a crypto world power, you can still win the hearts of the crypto community as it always welcomes businesses and products that give a good promise.
Profit for an NFT marketplace developed like OpenSea can come in various ways. For example, OpenSea charges a flat 2.5% each from buyer and seller during a transaction, which has been one of their revenue-generating points, given that the daily trade volumes on the NFT marketplace platform are very high. Additionally, other marketplaces earn from levying fees for signing up on the platform, minting NFTs, listing NFTs, placing bids on NFTs, and marketing NFT items. Even though giving back to the community through royalties on secondary sales has been the norm across NFT marketplace ventures, gains are more than what you lose. And so, businesses have been managing themselves successfully and bracing themselves for the even bigger NFT boom.
The Process Behind Developing an NFT marketplace
NFT marketplace development can be done in a few ways which depend on your choices. If you want to have a solution in hand in a short time, a Whitelabel NFT marketplace platform can be the best choice. Or else, if you are okay with time constraints but need a unique platform to sustain for a long time, there is nothing better than developing from scratch. The costs incurred in developing the NFT marketplace platform for your new venture would differ according to your selection; a Whitelabel solution would cost lesser than a uniquely developed solution. Also, expenses add up with every extra feature integrated into the platform. Irrespective of how much you spend on developing your NFT marketplace platform, you can quickly reap profits by using the correct tactics to cover the intended audience.
Concluding Thoughts
Henceforth, we can say that developing your own NFT marketplace like OpenSea bolsters the chance for your business to break into the top crypto ventures if you inject your efforts in the right direction. Also, the crypto world is still a risky one, and some risks may give more rewards than losses. As a business owner, you should be able to take some calculated risks at times so that your reputation can catapult toward the sky and capitalize on the newly earned recognition to get to the top tier. If you have decided to develop your NFT marketplace like OpenSea, then there are a few firms that can help build your new venture from the bottom up by fulfilling all your requirements.
