How to create your own NFT Marketplace to stay competitive in Digital World

The NFT platform is rising in full force across the globe. The big brands of companies, celebrities, and entrepreneurs are focused on tokenizing their own NFTs according to the latest trend generating revenue of about millions in the process. At times, it’s hard to afford some NFTs being sold and figuring out how to create your own NFT marketplace is a challenging situation to be battled.

Create your own NFT Marketplace to attract users and NFT developers. Non-fungible tokens (NFTs) have recorded a rise in trading volume and increased usage among users over the launch of a few months. NFTs are taking various shapes and forms in developing platforms like music albums, art and games. NFT marketplaces make space for trade, buy and sell different types of unique digital assets.

What is NFT Marketplace Development?

The Non-Fungible Tokens (NFTs) are digital assets that hold unique properties. However, they are notably different from their cryptocurrency counterparts. The Bitcoin, Ethereum and other cryptocurrencies are all fungible. It means that one BTC value is equal to another BTC. All fungible tokens are interchangeable and transferable in terms of address, carrying the same information as other native tokens on the blockchain platform.

Also, to be noted that many fungible tokens are divisible into smaller units. For example, Ethereum is divisible into a smaller base unit called Wei. On the other hand, non-fungible tokens (NFTs) are unique and cannot be divisible into small base units. NFTs represent a unique piece of information that is transparent and verifiable scarce in the blockchain. NFTs are provided as mathematical verification certificates or individual licenses. Non-fungible tokens are used as collectibles and in-game items.

List of advantages in building your own NFT Marketplace :

  • Hassle-free transfer during an exchange of non-fungible tokens.
  • NFTs are bought and sold in various marketplaces based on the price value and uniqueness of the token.
  • It is authentic with blockchain technology powering the non-fungible tokens, which prevents counterfeit.
  • The NFT tokens have ownership rights that don’t allow to make changes in decentralized platforms.

Most Popular and Top NFT Marketplaces :

There is a myriad of non-fungible tokens (NFTs) available through various NFT marketplaces. However, not all NFT marketplaces can manage the same NFTs due to different token standards. The Ethereum blockchain was the first to create a non-fungible token like the ERC-721 standard. It is found that it followed the ERC-1155 token standard similar to ERC-721. Anyhow, the ERC-1155 tokens are semi-fungible tokens. Since the popularity of non-fungible tokens increases, so is the number of various NFT marketplaces appearing gradually.

Rarible

It is one of the most popular NFT marketplaces that has reaped more success in recent months. Rarible was considered the world’s first designed community-owned NFT marketplace with native ERC-20 RARI tokens powering it. Holders of RARI tokens have received governance rights with the ability to vote, and it’s the first token for governance in the NFT space.

OpenSea

The OpenSea is the largest and longest-standing NFT marketplace that provides all kinds of non-fungible tokens, from domain names, collectables, art and gaming items, for tokenizing the representation of physical assets. OpenSea also offers a myriad of NFTs price values ranging from 0.05 ETH to 500+ ETH. It makes it easy for anyone to build and host their NFT marketplace for ERC-1155 and ERC-721 assets

The Sandbox

Sandbox is the most popular decentralized virtual reality platform on the blockchain. Users can purchase ERC-721 and ERC-1155 LAND tokens with ETH. The same can be soon purchased with the SAND token as well. LAND can be bought as an individual LANDS, ESTATES (multiple LANDS), or DISTRICTS (multiple ESTATES). Beyond LAND, The Sandbox provides anything needed within a metaverse.

Ghost Market

It is another upcoming project that is launching the first cross-chain NFT marketplace. It means that NFT assets purchased on the Ethereum blockchain can be traded with other NFT assets from other blockchain platforms. Interoperability between chains is the next development step in NFT marketplace evolution

Why is the Blockchain App Factory considered as best in NFT Marketplace Development?

The Non-fungible tokens (NFTs) continue to rise in trading volume within the blockchain industry. There are many promising marketplaces out there, but the technology has yet to be developed and initialized for a fully interoperable marketplace for permitting hassle-free cross-chain NFT transactions between multiple blockchains. Here in Blockchain App Factory, the entrepreneurs are offered all the latest features infused in the NFT marketplace development. Investors can now create their own NFT marketplace with our assistance. We have professional developers specialized in NFT marketplace development. Grab this opportunity to connect with us for more valuable benefits being offered in developing your business growth!

  1. Technical Support Round the clock
  2. White-labelled NFT Marketplace Solution.
  3. High-level Security.
  4. Integrated Payment Gateway.
  5. Safe and secure transactions.
  6. Easy customization of the project.
  7. Fully transparent.
  8. Professional Developers in NFT platform.

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ICO's are passe Security Token Offering is now in Security Tokens are financial securities that offer an array of financial rights to the investor.

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Scott Macy

Scott Macy

Entrepreneur | Blockchain Consultant — http://bit.ly/2OKH74y

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