NFTs are the trending craze and a thriving industry growing at a larger pace.
People create, buy and sell NFTs in popular marketplaces. Creators create NFT and sell it to make money. On the other hand, traders buy and sell NFT at a greater price margin to make a profit. Both of them need a dedicated marketplace to do so.
With the increasing market for NFTs, myriad creators and traders are there in the market. And they look for a trustable marketplace that can give them a platform with advanced services and an active user base. As a result, it created a demand for a good NFT marketplace and induced many startups to start a firm NFT marketplace for the vibrant community of creators and traders.
Building an NFT marketplace from the scratch is both expensive and time-consuming. This method can never be a correct and effectual decision for startups. That is when the White-label NFT marketplace comes into the scene.
What is the White-label NFT marketplace?
White-label NFT marketplace is a readymade software that readily contains all the essential functions of the NFT marketplace. It is readily available and can be customized according to the business structure to launch it instantly in the market. White-label software is a better approach than the other techniques and exhibits more benefits to the business.
Benefits of White-label NFT marketplace
Factors that make the white label NFT marketplace a better one than other approaches are that it can be
Tailored to the needs:
The white label software can be customized with respect to the different business structures. From logo, brand name, and Web page UI to back-end functionalities, everything is customizable. So the company that uses the white label software will be seen as a unique brand from the creator and trader’s side.
Affordable:
The cost of white label software is three-fold lesser than the development from the scratch. So it is affordable software for startups and they can use the rest money on other business phases like marketing, installation, and after-launch activities.
Time:
Time has to be managed effectively in Business. Especially for startups, time management is crucial to move up the scale. Hence, using the white label software can save up a lot of time i.e. used heavily in other popular development approaches.
Quick Growth:
White label reduces the development time and is inexpensive. So the company that uses white label can use that time and money in other phases of the business to attain rapid growth and high return in a short period of time.
Fast and Efficient Execution:
Since it is readymade software, many startups are afraid about the quality of software in executing major trading activities and money transfers. But that is not a problem here, because the software comes with well-built features to execute the process fast and effectively.
Features of white-label NFT Marketplace
Along with benefits, white label software will come with attractive features that make the NFT marketplace more engaging and easy for traders to execute the trade. They are
High-capacity storage solutions:
NFT software is built with IPFS (interplanetary file system) to store all types of NFTs. This storage solution stores the data safely and can be accessed even if one server got down.
NFT validation:
Incoming NFTs will be validated for the integrity and authenticity to be displayed in the marketplace. So fraud and duplication can be avoided.
Auction:
The marketplace will have an auction feature that facilitates NFT traders to bid prices and earn the NFT. This feature allows creators to sell their NFT for high prices and traders to attain a desired NFT.
Cross-chain connectivity:
NFTs creation and trading can be done in any blockchain development company and across different networks. So that the NFTs are shown to traders in different locations and expand the market range.
Multistandard support:
The features allow the NFT marketplace to hold NFTs in the form of images, animations, videos, and music. Thus making it a place that displays the wide range of NFTs in different mediums that attract more creators and traders.
Enticing UX/UI:
The forefront of the software will be designed with interpretable UI/UX. So the user can travel through the website and execute trades smoothly
Multicurrency support:
This feature supports multi-currency acceptance in the NFT platform. More convenient options can be added with the API when a new payment interface enters the market.
NFT minting:
This feature withholds the ownership of the NFT and gives a new authenticity to the NFT. Also, Traders can have extreme control over their digital assets
NFT wallet:
This wallet will be a place to hold NFTs that are created and bought by the owners. So that they will be no need to look for third-party wallets
P2P transactions:
P2P transactions enable creators to transfer money safely with the escrow system and automated smart contract.
High-grade Security:
Since this marketplace is a platform filled with money, stringent security features will be indulged to protect NFT and digital assets from thefts.
These features will enrich the NFT marketplace website to act right with less latency and quick processing.
Final thoughts
All about the white-label NFT marketplace are explained. This software development approach is more productive and worthwhile than the other techniques. If you are a startup that wants to develop an NFT marketplace, then the white-label method has to be your ideal choice. To get enticing and constructive features in that software, connecting with the right development company is essential. So choose a top-class tech partner like ChainTechSource.
Development services on different crypto domains and attractive features are limitless there. So connect with them, and they will develop reliable and quality software for your business that adds value and make money.