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White label NFT market solutions in the new Web3 world!

The NFT industry has risen to glory since its market exploded at the end of 2021, when billions of dollars worth of cryptocurrency were traded across all platforms for these digital assets. While the NFT boom of 2021 revolved around images, videos, and memes, it also showed that these blockchain entries could do more than back up JPEGs and GIFs.

Several companies in the NFT market have demonstrated the power of NFTs by selling various new NFTs, which have since become profitable business models. Speaking of NFT marketplaces, Whitelabel NFT marketplaces have become a hot topic in 2022 as more and more entry-level businesses aim to make a fortune selling NFTs.

White Label NFT Marketplaces: An Explanation

A white label NFT marketplace is a customizable solution built and tested upstream. Such a ready-made NFT marketplace is beneficial for many reasons, the main one being its quick launch nature.

These solutions are usually created by third-party developers associated with NFT market development companies that help companies launch these platforms as a service. These ready-to-launch solutions favor companies looking to test their feasibility in the Web3 space or small-scale startups looking to grow in the field.

These platforms can come from two types of solutions: bespoke white label NFT marketplaces built by companies and NFT marketplace solutions similar to existing platforms.

Essentials for an out-of-the-box NFT market solution

  • The out-of-the-box NFT marketplace solution should be able to connect to multiple crypto wallets where users can store their cryptocurrencies and NFT assets.
  • Such a solution should be affordable for everyone by ensuring that all the complexities of developing from scratch are eliminated through complex end-to-end development.
  • The Whitelabel NFT marketplace is expected to contain advanced security measures including MFA (Multi-Factor Authentication), Jail Login, and DDoS which can keep users safe while using the app.
  • Additionally, multi-currency support is crucial because the crypto world today is more than Bitcoin and Ethereum. An easily launchable NFT marketplace that supports many major cryptos will provide a competitive edge for businesses.
  • Apart from the basic features, an out-of-the-box NFT marketplace solution should have a few unique features that could be a game-changer for a business using it.

White Label NFT Marketplace: What’s in a Starter Pack?

  • Crypto Wallet – A Whitelabel NFT marketplace should have a crypto wallet that can support many cryptocurrencies and NFTs from different blockchains.
  • Storefront – Such a pre-made platform should have a dynamic storefront that displays details of NFT assets offered for sale in the market.
  • Smart contracts – Smart contracts in an out-of-the-box NFT marketplace solution can help process NFT sale transactions quickly and securely between users.
  • Auction Portal – In such a market, the auction portal can be beneficial for potential buyers to place bids on NFT items and learn about live sales updates.
  • Admin Portal – The admin portal of a white label NFT marketplace app can be useful for marketplace admins to get analytical data and moderate NFTs before listing them.
  • Seller Portal – Such a platform also has a portal for sellers where they can access their NFT asset sales data and other statistics.
  • Search Engine – Another staple of any NFT marketplace, search engines help users find their favorite NFT collections faster.
  • Filter/Sort Options – These options help users narrow down their search for NFT collections that match their type and cost preferences.

Business Benefits of a Ready-to-Use NFT Marketplace Platform

While the business model of the NFT marketplace platform in itself offers many advantages for companies, launching it from a whitelabel solution only complements the advantages. As always, an off-the-shelf NFT market solution can be launched easily while incurring economic costs.

The platform can also be extensively customized to suit a business’s needs, which also provides a degree of uniqueness to businesses.

Suppose also that a company wants to have an NFT market similar to an existing platform (example: OpenSea). In this case, a Whitelabel solution built on OpenSea’s code can be modified accordingly to meet business needs.

Popular off-the-shelf NFT market solutions

  • An NFT marketplace solution, like OpenSea, is based on the popular horizontal trading NFT marketplace model that can be customized to suit business needs.
  • An NFT marketplace, like Rarible, offers governance powers to users, enabling a collaborative business option for people who enjoy communicating with the Web3 community.
  • An NFT marketplace, like Foundation, can be useful for selling exclusive artwork listed after expert vetting. Even access to the platform as creators is invite-based, which preserves its nature.
  • An NFT marketplace, like Nifty Gateway, can be used as a digital art gallery where artwork is offered for sale after expert curation.

How viable is a white label NFT marketplace in the future?

While the growth of the global NFT market is expected to return to another level in a few years. The increase in the number of startups opting for the NFT market model is also expected to increase.

Such levels of enthusiasm mean that Whitelabel NFT market solutions will be in demand for at least a few years to come as Web3 slowly becomes mainstream.

For some experts, the reach of ready-to-use NFT market solutions will remain even after the widespreadization of Web3, because there will still be budding entrepreneurs who will not have enough resources or time to fundraise. Adding experimental startups to the list only increases the demand for such solutions.

Final Thoughts

Therefore, the use of off-the-shelf NFT marketplace solutions (check out blockchainappfactory dotcom) has become common among small businesses trying to make their way into Web3. The fact that many startups are striving to make an impact in the NFT space reinforces the need for customizable Whitelabel NFT marketplace platforms.

If you are looking to run an NFT marketplace based on any genre and want to capitalize on trends, it is always better to opt for an out-of-the-box NFT marketplace solution.

Such platforms are available from experienced NFT market development companies that can launch your business quickly at affordable prices. Benefit from such an easily available NFT market platform to gain huge recognition in the web3 world.

Featured image credit: provided by the author; Thanks.

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