Sep 1, 2022
How to Create a NFT Launchpad?
In recent years, there has been exceptional growth in digital collectibles. In a survey conducted by a morning survey website, 25 percent of US adults were into collecting NFTs as a hobby. In the first 3 months of 2021, NFTs generated more than $1.5 billion in transactions. Now, around $10 to $20 million worth of NFTs is traded weekly. This clearly shows the demand and interest for NFTs globally. Many companies and brands have started to develop NFT launchpads to meet the demand for NFTs and be part of the lucrative NFT world.
Why should you Develop an NFT launchpad?
NFT launchpads are decentralized, and there is only very little involvement from your side as far as trading is concerned. NFT launchpad development is a lucrative business with low risks from your side. For example, if you run a stock exchange, you will have to have a good relationship with your bank and your customers, you will have to provide them with exclusive deals, and if anything goes wrong, you’ll be answerable. But, with an NFT launchpad, all customers use your platform with DeFi wallets which will make them anonymous. All transactions and operations are recorded on the blockchain. Its immutability gives assurance for your venture. Thus, NFT launchpad provides a high-revenue generating business opportunity with lower risks.
Building your NFT launchpad?
NFT launchpad is a blockchain-based platform where users can trade, mint and buy NFTs. Users can also raise funds, launch projects and do marketing for projects. Before launching your NFT launchpad, know your target audience. Then you’ll have to decide the integral parts like its features and design. If you want to create a unique NFT launchpad from the ground up, here’s the roadmap to develop an NFT launchpad.
Niche and target audience:
First choose who is your target audience and how you can make your product reach them. Try choosing a vertical market instead of a horizontal market. Choose a niche that resonates to a wider audience instead of a particular group of audience.
Project documentation: Create a plan for your NFT launchpad. From design to the features of the platform, and the blockchain on which you wish to develop your platform.
UI/UX design: The design of your platform determines the overall usability and convenience of your platform. Design a user-friendly platform that provides a hassle-free experience for your users.
Blockchain framework: Select the suitable blockchain for your launchpad. You can use widely-used and popular blockchains like Ethereum,Solana, and BSC for your launchpad development.
Smart contracts: Smart contracts are programs that are stored on a blockchain. Smart contracts run when the predefined conditions are met. All transactions on the platform are made with smart contracts. With smart contracts, you can have highly-secure transactions without any third-party involvement.
Creation: Create a framework for your launchpad that suits your goals and business. Consult a professional NFT launchpad development company for credibility and functionality.
Testing: Through software testing, make sure that the platform is free of bugs, glitches and errors. Resolve all errors and make sure that the program is running flawlessly.
Launch: You can launch your program once you make the platform free from bugs and errors. Post-launch updates are essential for quality performance. With user feedback, develop the launchpad to offer users new and updated user experience.
Features of an NFT launchpad
Important features that an NFT launchpad must have
Storefront: The storefront in an NFT launchpad has descriptions and other information like price, ownership, bids, and price history for various NFTs and collections.
Search: Users can look for desired NFTs and collections without any struggle.
Filter and sort options: With search and sort options, users can filter and sort NFTs based on price, niches, and time posted.
Wallet: Make a list of Web3 wallets and list them on your platform. An integrated wallet inside the launchpad is essential for transactions. Make sure the users have a seamless experience with token storage, transaction, and access.
Rating and reviews: Through reviews and ratings, new users can easily navigate through NFT collections. Users can also know the credibility of NFTs. Best-ranked users can also get exclusive rewards.
Bidding features: Bidding and Auctions for NFTs is an important feature in an NFT launchpad application as it draws new consumers to your marketplace as some users are into flexible pricing and bidding. Buyers should also be able to know the current status of their bids. Creators can also benefit by raising funds for their project and even launch projects.
NFT launchpad for different niches:
NFT launchpad for artists: Artists can showcase their work to the world without fearing royalty and copyright infringements.
NFT launchpad for musicians: Musicians can mint their songs, and soundtracks as NFTs.
NFT launchpad for games: Gamers can mint in-game assets and tokens as NFTs in a gaming NFT launchpad.
You can create exclusive NFT launchpads for films, content creators and influencers, etc.
The world is embracing NFTs, and they are becoming more and more valuable in the market. Due to this, the demand for NFTs is continuously expanding. Millions of creators are minting new NFTs on a daily basis and millions of collectors are purchasing them regularly. NFT sales had hit $17.6 billion in 2021 alone. Because of this lucrative market for NFTs, many companies and entrepreneurs have started to create NFT launchpads. You can also create an NFT launchpad to expand and accelerate your business by hiring an NFT launchpad development company with professional developers and experience with blockchain technology.
