Building an NFT marketplace is not an overnight process. Definitely, you know that, and that takes you here. But this is not an answer for what you are looking for. Generally, you have read that building an NFT marketplace may take from one week to three months. Don’t you think these are contradictory statements? Fortunately, in the world of technology, these are true and possible.
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While inquiring about an NFT marketplace, development companies always define two solutions – a ready-made solution or building from scratch. Which solution you are seeking for your business will be the first thing that defines your NFT platform development tenure. Other important segments are features, functionality, and your NFT marketplace development company choice. Especially if you are building on your own, the time will vary again.
Let’s spread more light on how long it takes to build an NFT marketplace.
Methods To Build NFT Marketplace
As discussed above, there are two common ways to build an NFT marketplace. Here we have discussed these methods in detail and how they differ from each other.
Building From Scratch
First, the most common way is to start building a platform from scratch. For this, professionals understand your business, industry, and its needs. They create a layout defining how your platform will look and what features you will see. Accordingly, they choose technology and start writing codes. This is really tricky as you need expert assistance that can handle all the tasks on their own.
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Creating an NFT platform from the ground is expensive, but you will get ultimate results that are hard to beat in the industry. Some of the NFT marketplace building companies also offer an option to hire developers. When you just need to define your business needs or something you want to change, update or add new, the developer on your behalf does everything.
White Label NFT Solution
Another trending way to build an NFT marketplace is to go with readymade or called white label solutions. It is an instant solution, where you can build a platform in a few days which could be 3-7 days. Professionals use ready-to-make templates like Opensea Whitelabel solution or Rarible clone script that helps to build a fully-featured platform quickly. These white-label solutions are 100% customized; therefore, you can freely ask to add or remove certain features on the platform.
Must-Have Features in Your Platform
When it’s about building your platform, you cannot ignore the power of features. This helps to bring and engage customers with your platform. Therefore, here we have listed some of the must-have features in your platform.
Features On Your Marketplace For NFT
- Attractive Storefront to catch user’s eyes
- Advanced Search to reach any NFT
- Easy Listing Creation option to engage more user
- Tracker to check token history and visiting status
- Option to Bidding and real-time tracking
- Multi-currency Wallets integration
- Rating & Reviews to check the performance
Technologies Knowledge
Whether you are building on your own or choose to make an NFT marketplace from experts, you can’t deny that you should have knowledge about the technologies or programming languages to be used. If you don’t have one, let’s check out the essential technologies required to build an NFT-based marketplace.
Blockchain Platforms
Ethereum
When it comes to Non-Fungible Tokens, an open-source platform named Ethereum is the first choice that comes to mind. Whether you want to track transaction history or ensure token metadata is publicly verified, Ethereum helps to prove your ownership in all ways. The best thing, Ethereum never goes down; therefore, you just need to focus on sales improvement.
Flow
Decentralized blockchain technology is designed to provide next-generation solutions for tech savvies, whether you are building an NFT marketplace platform for digital assets, apps, or games.
Tezos
Secured smart contracts are the prime concern for every NFT platform builder individual or company. Tezos ecosystem has surged to keep your smart contract activities secured over the past year. Therefore for the smart contract writing and language section, Tezos is a highly reliable platform for companies.
- Cardano
Cardano is a tool required to provide unmatchable security and sustainability to decentralized NFT-based platforms. The platform also supports NFTs and other digital assets.
Storage Platforms
- IPFS
InterPlanetary File System is a peer-to-peer hypermedia protocol designed that helps to store media content in a decentralized platform. Why? As the media file related to NFTs cannot be stored directly on the blockchain, therefore IPFS helps to store information. You just need to upload content, and you’ll receive an IPFS hash of the content that you can use to make an IPFS URL.
- Filecoin
Filecoin world where IPFS left off. It purports blockchain technology” to ensure persistence of data. In the past, many blockchains have gone defunct, which gives a reason to think that Filecoin is an exception. It is probably more robust than a random web server.
- Pinata
Pinata is a best-in-class NFT media management that delivers a fast, reliable, and easy-to-use file uploading experience. It provides secure and verifiable files for NFTs. As Pinata is a public server, therefore it lacks privacy and security. You can think about it but think wisely.
NFT Standards
- TRC-721
- FA2
- ERC-721
- ERC-1155
- dGoods
Front-end Frameworks
- React
- Angular
- Vue
Note: If you drop your plan to build a platform on your own and choose a professional nft token development company, then do not forget to scroll and know how you can pick the best NFT marketplace development company. Otherwise, your journey could be tougher.
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How To Choose a Reliable NFT platform development company?
When it’s about the NFT marketplace., you cannot ignore the significance of blockchain technology. Therefore make your priority the top-rated company offering blockchain development services. Make sure:
- Your company should have different blockchain technology knowledge such as ethereum, polygon, BSC, Solana, Harmony, etc.
- The company must have a team of crypto wallet experts so that if any issue persists, they can take immediate action.
- Your selected company should be ready to provide both ready-made and building from scratch solutions.
- You should also know about their working style, like keeping clients updated for project processing.
- Understand and match their budget with your budget and business requirements.
Now back to old school and do not forget to ask common things
- Check company’s experience
- Delivered projects
- Read testimonials, case studies and read reviews on various review websites.
- You can also ask for past deliveries.
If the things mentioned above satisfy you, do not wait anymore and delay your project. Just go with the right one.
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