Non-fungible tokens (NFTs) have been hugely popular in recent times due to their inherent properties and the ability to open new revenue streams for common people. While billions of dollars worth of trades have been accomplished overall, 2021 was a special year for these tokens as their popularity skyrocketed to insurmountable heights. While many credit NFTs for liberating creators by enabling them to earn, one should not forget the role of NFT marketplace ventures as they tend to facilitate trades ranging from a few dollars to millions of dollars across the blockchain world. Let us see how a White label NFT marketplace can help businesses earn quick fortunes.
A White label NFT marketplace is a pre-made platform that can be used for trading NFT assets. The solution will be built and tested beforehand, which makes it easier for an entrepreneur to begin business operations. The platform can sell various kinds of NFT products that can be digital or physical in nature. Such prefabricated NFT marketplace solutions exist for various blockchain networks that make aspiring venture owners spoilt for choices in the endless Web3 realm. These platforms can be modified to fit vertical or horizontal commerce models that focus on niche and general audiences, respectively.
- While speaking about White label NFT marketplace solutions, we should not forget custom-made solutions from experienced developers or expert blockchain application development firms. These solutions are extremely modifiable, meaning that an aspiring startup owner can change the features of the solution without hassles in launching their business for public trading.
Next comes White label NFT marketplace platforms similar to a popular existing business such as OpenSea or NBA Top Shot. While such solutions have their back-end code crafted similarly to the marketplace platform chosen by the project owner, the user end can be customized to fit the project’s individual business needs.
A White label NFT marketplace can be quickly launched for trading operations due to its pre-built nature that enables projects to modify the user-end of the platform.
A smaller development timeline results in lower expenses for projects as steps involved in full-fledged development would not feature while using such premade solutions.
Such a solution allows businesses to test the depths of the evolving NFT world and capitalize on the market trends before they fade. This maximizes the profits earned by staying steps ahead of the competition.
Running a venture based on a Whitelabel NFT marketplace also proves to be a low-risk investment opportunity for small businesses without having to risk their resources by going for development from the ground up.
Unlike what some skeptics might say, White label NFT marketplace solutions are not prone to security hazards, as they are tested extensively before becoming fit for business usage.
- A venture based on a White label NFT marketplace can charge commissions for minting, trading, and buying NFT assets from the platform. Such charges can typically be predefined proportions that streamline profits.
- NFT marketplace businesses can benefit from levying fees for listing NFTs on the platform after admin moderation. This helps curate the NFT marketplace per market trends and customer sentiments, for which data can be taken from social media and community forums.
- A White label NFT marketplace-based startup can earn additional revenues by helping NFT collection projects, and creators garner reach through running in-platform adverts. These can be performed inside the platform or through the venture’s social and community media handles.
- For an NFT marketplace business to prosper, it is important to utilize auctions. While bid-based selling is beneficial for NFT creators, ventures can make profits by levying bidding fees, which can amount a lot for bigger and highly-anticipated NFT launches.
- OpenSea: A horizontal trade-based NFT marketplace built on Ethereum.
- Rarible: A horizontal NFT marketplace with community governance facilities.
- Foundation: An exclusive NFT artwork marketplace for established artists.
- Nifty Gateway: A curated digital art gallery and NFT marketplace for artists.
- NBA Top Shot: An NFT marketplace selling video clips of special moments in the NBA.
Development based on the White label NFT marketplace model is here to stay, which can be witnessed by their massive acceptance by startup enthusiasts looking to delve into the NFT world. Businesses can now opt to launch their NFT marketplace platforms quickly at economical prices through such extraordinarily crafted solutions which can be customized to suit their needs. To avail of such a solution for your new venture, it is wise to contact a professional White label NFT marketplace solution provider to avail of a readymade solution of your choice. Such a firm can make your development journey quick and comfortable while saving you a lot of resources.