Before getting into this blog, there are two important questions that every potential NFT investor has to answer. The first one is whether you want to step into the spectacular evolving NFT industry? If the answer is affirmative, here comes the next question. Do you want to raise funds for your NFT marketplace or just NFT development along with augmenting the visibility of your project to multiple audiences? If these questions sound interesting and you are curious to find solutions to them, then this blog of ChainTechSource is for you to read without skipping any part.
Predominantly, one who ventures into the massive NFT world, by deciding to start an NFT development project, will not be having adequate financial resources for proceeding with the project. This is generally what happens for every business, and you will be conscious of distinct forms of and series of fundings.
Likewise, for business owners working on NFT projects, the Launchpad is the supreme solution. As they can list their project, giving importance to the mission and the ultimate vision of the project. If the vision and mission have the potential to enchant the audiences they can probably invest in it.
Types of Fundraising Models Available in the NFT Launchpad
- Initial coin offering
- Initial exchange offering
- Initial DEX offering
- Initial liquidity offering
- Initial farming offering
Complete Process for Listing your Projects in the NFT Launchpad
Developers will get an overall idea of your project before listing it. Thus, they can commence the procedures by brainstorming the techniques, which are generally determined as collecting the project’s purpose.
- After this, the normal KYC procedure is carried out for verification purposes. If this ends up smoothly, then a white paper will be developed by the team which includes the roadmap, vision, mission, tech stack used, etc.
- After the second step, important activities like project listing, selecting the type of funding method, and marketing are carried out.
How NFT Launchpad will be the Future Business?
NFT launchpad is a platform that facilitates NFT minting and developing new NFT-related projects. The creators can avail funds to develop and promote their new NFT projects. NFT launchpad is a digital marketplace that can contribute enormously to the evolution of new businesses based on NFTs. It offers a safe and decentralized environment that benefits both the parties, users, and the businessman. Therefore, the NFT launchpad gives priority to assisting the NFT creators.
How does the NFT Launchpad Work?
- Proposal
Entrepreneurs can submit proposals with extensive project details to the NFT launchpad community.
- KYC Verification
Following the submission of their proposal, they must go through a thorough verification process. The expert teams look over the proposal to see if it’s a unique or fascinating NFT idea or just another mundane endeavor.
- Project Onboarding
If the proposal is promising and unique, the next step is to accept it. The platform will accept the NFT project if it is promising. The project can also be completed using the community voting procedure.
- Experts Opinion.
The project crew is advised by an NFT launchpad advisory team on facts to enrich the business.
- White Paper Drafting
The process of outlining the project purpose, technology stacks, marketing tactics, and other aspects to develop a viable business is known as white paper drafting.
- Listing the Project
The whitepaper and other project details are placed on the launchpad for investors after the profile is created.
- Type of Funding
IDO, ICO, IEO, and other funding types are available to digipreneurs for their NFT projects. At this time, the project is featured under the section “upcoming projects.”
- Project Marketing
SEO, social media, discord marketing, and other marketing tactics are used to ensure that the project is widely known.
- Crowdfunding
There are two rounds to crowdfunding. Priority is given to token holders in the first round, and then all types of investors are welcome in the second round.
Conclusion
In the year 2020, NFT sales increased by a staggering 82 percent, reaching $250 million. These sales increased in volume and exceeded $2 billion in the first half of 2021. Such massive transaction volumes demonstrated that NFTs may create enormous profits. All of this was followed by issues such as excessive traffic on the Ethereum blockchain. As a result, petrol prices skyrocketed, making NFT minting prohibitively expensive, and NFT developers began to suffer the consequences. NFT launchpad development provided a unique solution in the NFT.