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NFT Marketplace - A Legit Revenue Generation Model

NFT tokens are without a doubt the most popular innovation in the digital economy, according to crypto specialists. In the future years, NFTs are expected to undergo a significant transformation. NFT marketplace is now molded into a business model that helps in creating, developing, and maintaining a business by producing the immeasurable gains given the cards played right. NFT market platforms are now, not only a digital platform to showcase the magnum opus but are also becoming a revenue-generating model as the platform owners will generously profit per trade that occurs on the platform.

The revenue generated by the NFT company accounts for the majority of the total revenues. These blockchain-based tokens are one-of-a-kind, verifiable, indivisible, and unchangeable. The ownership rights of a digital asset, such as artworks, are represented by these NFTs. The NFT vendor pays a commission to the marketplace owner, which is generally 2.5 to 5%. NFTs have a large number of buyers and sellers. As a result, the proprietor of the NFT marketplace receives a sizable fee.

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Our Step-by-Step NFT Marketplace Development Process

01

Determine your Product Niche

The first step in the process of shaping your own NFT marketplace is to decide the product niche. You can either stick to a marketplace model that exclusively concentrates on a particular domain (Eg: only art) or the model that features mixed domains (Eg: art, sports, games, collectibles, etc.).

02

Market Research & Competitor Analysis

Once the niche is fixed, you can work on market research to know more about the target audience and their behavior in similar business models. It is also imperative to analyze the competitors in the market to understand the business. Additionally, token protocol, tech stack, revenue system, and other parameters are fixed in this stage.

03

UI/UX Development

User interface and experience are the significant metrics to take utmost care of. This is because your NFT marketplace should bestow a seamless NFT trading experience overall and must enable even a newbie in the crypto realm to buy, sell, or trade NFTs effortlessly. User-friendly navigation, easy uploading of files, and all-inclusive listing insights are some of the areas to work on.

04

Front-End and Back-End Development

This is the crucial phase for developers as both front-end and back-end developers will collaborate to complete the model. Each blockchain network will have its own token standards, and it must be developed accordingly. All the blockchain-based tasks, smart contracts and crypto wallet integrations, and auction portal developments are some of the milestones covered in this stage.

05

Product Testing

This is the part where QA engineers join the journey. Once the development of the application is completed, the next stage would be testing. Here the platform would be subjected to various tests, including security tests, installation tests, functionality tests, load tests, etc. Once the software secures good grades, it will be moved on to the next phase. The storage platforms for NFTs will also be finalized.

06

Product Deployment

This is the final phase of the development. If testing gives a green signal, then the application will be deployed in the cloud. That's it, you are done. Now, you have to focus on marketing to promote your brand's visibility worldwide.

Our NFT Marketplace Development Services In Different Fields

Listed below are the top platforms in which we provide NFT development services.

NFT for Music
NFT for games
NFT for art
NFT for Real Estate
NFT Cardano
NFT Marketplace like NBA Top Shot
Solana NFT Marketplace
Whitelabel NFT Marketplace
Cross Chain NFT Marketplace
Utility NFT Marketplace
Binance NFT Marketplace
NFT Launchpad
NFT For Sports

Top Forerunners Of NFT Marketplace

Due to its immense popularity, numerous NFT marketplaces are introduced in the market, each with distinct functionalities. The common categories of NFT marketplaces are given below.

OpenSea

OpenSea is a native American NFT marketplace that performs buying, selling, and trading of digital assets with a complementary platform fee on every transaction.

Axie Marketplace

Axie marketplace is an official marketplace to buy in-game merchandise for Axie Infinite game to buy Axie’s, land, and skins for your avatar in the game.

Larva Labs/CryptoPunks

CrytpoPunks are pixelated 10,000 algorithmically generated characters with distinct features, making them no 2 crypto punks similar to each other on the Ethereum blockchain.

NBA Top Shot

NBA top shot is an NFT Marketplace for the small and high-quality legendary and historical basketball video snippets and the best part is that these videos are in the form of NFTs.

Rarible

Rarible is a reputed NFT marketplace that deals with all sorts of NFT genres. Users will be able to mint, list and trade in a blink of an eye using a super user-friendly user interface.

SuperRare

SuperRare is an authentic Digital Art Market inhibiting collectors' editions and rare NFTs. This smart contract platform allows artists to release limited-edition digital artwork.

Foundation

Foundation is a preferable choice for web3.0 as they are laying the groundwork for limitless possibilities, valued at your comfort. It is an invite-only NFT marketplace.

Nifty Gateway

Nifty is an online auctioning platform for your NFTs along with the best security to keep your crafts safe.

AtomicMarket

AtomicMarket is a shared liquidity NFT market smart contract. It is a marketplace for Atomic Assets. Anyone can utilize the Atomic Asset standard to tokenize and create digital assets and buy, sell and auction assets using the Atomic Assets marketplace.

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Features Of Our NFT Marketplace Development Platform

The NFT Marketplace features we provide in Infinite Block tech are listed below.

Interoperability

Interoperability refers to a more decentral, scalable, and reliable approach. It refers to the transfer of information across the blockchain realm to be used by other platforms.

Controllability

As the NFT assets are kept limited in number to keep their values high. Controllability helps manage the release of NFTs in the market to keep the market balanced.

Scarcity

Scarcity is the only major aspect of NFT that gives it its value in the market. The more scarce the digital aspect is, the more its price.

Tradability

Interoperable functionality features NFTs to initiate the trading of NFTs in multiple ecosystems and marketplaces.

Liquidity

Instant tradability of NFTs offers the users to experience higher as well as liquidity.

Standardization

Common, inheritable, reusable standards contribute to the supreme standardization in the NFT ecosphere.

Ownership Rights

non-fungible tokens provide ownership authentication to the buyer once the digital product has been purchased.

Authenticity

Uniqueness derives from the concept of rarity; the rarer the digital asset, the more unique it is. The rarity of the NFT decides its market value

Extensive Rewards

Rewards are always part of the NFT from NFT loaning to NFT renting, The most primarily used DeFi protocol would be the NFT loaning protocol

Trading All Types Of Digital Assets

Non-fungible tokens are popular for their representation of the abundance of assets, such as image files, videos, digital art collectibles, real estate, etc.

Compatible Blockchain

NFT platforms have highly customizable features and are compatible with blockchain technology based on the requirements of the clients.

NFT Platform Package

NFT development cost estimation with a wide range of futuristic upgrades.

Development Services Basic Advanced Multichain NFT Platform Premium Multichain NFT Platform
NFT Token Development (ERC721 & 1155)
LaunchPad
Marketplace
Collectibles(Art, Music, Video)
Explore
Filters
Share
Rankings
Admin Portal
Ethereum/ BSC/ Polygon Any one Any Two Multi-chain - Support
Wallet Integration Meta mask Trust wallet, fortmatic wallet, myether wallet- anyone Metamask and Wallet Connect which connects more than 100 wallets
Decentralized Centralized or Decentralized
Bids open Auction & Instant Buy Different Types of Auction
Multi-language Only one Upto 5 languages
Marketing Services

Add ons- (Any Two)

  • Lazy Minting
  • Drop
    • Timed Auction
    • Reserved Features
    • First Come First Serve
  • Fiat Integration (Only one)
  • Own Token Development with Integration
  • Split Royalty
  • NFT Packs
  • Import NFT’s
 Any Two
  • Physical product delivery API
    Integration
  • NFT Staking
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Our Expertise In NFT Marketplace Development

Infinite Block Tech offers meticulous services that will give you a clear idea about our NFT marketplace development services.

  • Our NFT Platform is invulnerable to all types of cyber-attacks.
  • Utilization of a wide range of blockchain technologies, such as Ethereum, Binance Smart Chain, Polkadot, etc.
  • A stable amount of assurance is provided to the NFT marketplace.
  • Highly customizable and crafted with all the required specifications.
  • An optimized level of guidance and technical support is provided.

Our foremost priority is to make you the frontrunner in the NFT race by implementing our extensive beneficial features and technical expertise in the NFT platform.

NFT Marketplace Development
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Why Choose Infinite Block Tech?

  • We are the leading blockchain service provider in the USA.
  • A versatile portfolio of contented clients across the globe.
  • We are a crew of adept professionals who have hands-on experience in blockchain and NFT.
  • Round the clock support to solve the queries on the development services.
  • We deliver our projects on time without compromising on the quality and quantity.
  • A wide range of customizations to make the end-product in-line with all your requirements.

FAQ

Why not? You can build your own marketplace in just a matter of the next few days. Infinite Block Tech is a pioneer in NFT marketplace development and will make your job really easy.
An NFT marketplace is a platform where creators and buyers meet. The marketplace enables users to buy, sell, bid, trade, and hold NFTs seamlessly and securely without any complexities.
The following are the business benefits of developing an NFT marketplace with Infinite Block Tech.
  • Affordable price
  • Remunerative Business Model
  • Global Traction
  • Brand Partnerships
  • Almost Nil Maintenance Required
The simplest way to build your own NFT marketplace is to hire an experienced NFT marketplace development organization like Infinite Block Tech. We guide you through a step-by-step process, right from determining your product niche to the product deployment stage.
We would love to answer this question, but not all the NFT marketplace development costs the same. It totally depends on the features and functionalities you choose.
We provide a wide range of marketplaces, including
  • NFT Marketplace for Arts
  • NFT Marketplace for Sports
  • NFT Marketplace for Games
  • NFT Marketplace for Music
  • NFT Marketplace for Collectibles
  • NFT Marketplace for Fashion
  • NFT Marketplace for Real Estate
And the list goes on. Check our website to know more.
The revenue model of the NFT marketplace is crucial. You can generate income from various sources, such as transaction (trading) fees, listing fees, minting fees, and other miscellaneous fees.
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