How to create Non-Fungible Tokens?
Metaverse is the buzzword in the whole world now. NFTs worth billions of dollars are being traded on decentralized trading platforms. Artists, content creators, and collectors are benefiting from authenticity, exclusiveness, transparency, uniqueness etc. However, which online platform started breaking records? It is none other than Nifty Gateway. It sold off Beeple’s NFT collection for $69 million in March 2021. Are you that entrepreneur who wishes to desire such big numbers? Creating a Nifty Gateway clone is the right choice. Apart from that, let us explore more about the nitty-gritties of crypto collectibles in the below-mentioned article.
How to create Non-Fungible Tokens?
“Any asset” can be converted into a digital collectible. Content creators have different options like artwork, domain names, music, trading cards, sports goods etc. They have freedom in fixing a price, conducting auctions, uploading their single or multiple collections on blockchain-powered marketplaces, and accepting bids from interested investors.
Which are the popular blockchain platforms where NFTs are selling in huge numbers? It comprises the likes of Binance Smart Chain (BSC), Ethereum, Cardano, Flow, Tezos, Solana, TRON, WAX etc.
Importantly, artists have to comply with different token standards while issuing their creations. They can choose from BEP-721, BEP-1155, ERC-721 and ERC-1155, and TRC-721. Importantly, BEP-721 and TRC-721 are compatible with ERC-721. This offers advantages like cross-bridge compatibility, easy transfer of assets across blockchains, and low transaction processing fees.
What are the famous NFT marketplaces in the world?
Nifty Gateway - Is there an exclusive NFT marketplace for buying and selling artwork? Yes, it is none other than Nifty Gateway. Owned by Gemini, a famous cryptocurrency exchange, it has become the hub for lucrative auctions and drops. Listing of collectibles is quite simple on the Nifty Gateway like platform.
Artists, as well as, project creators can mint and sell their collectibles on the blockchain-powered marketplace. Consequently, investors will receive real-time updates about the curated drops, live auctions, recently curated collections, and verified drops. What is the ultimate aim of Nifty Gateway?
It wants 1 billion people to start collecting Nifties. Accordingly, each NFT on the marketplace contains information like the price in USD (lowest ask price), the number of editions, original listing price, the name of the creator and the collection, and release date.
How can users locate valuable NFTs? They can use filters like listing type (curated and verified) and sort the collectibles based on the price (lowest to highest) and listing date (most recent to oldest).
Can entrepreneurs build their wealth? Yes, you can obtain a Nifty Gateway clone from an NFT marketplace development company. The Nifty Gateway clone development services include the creation of NFTs, trading platform development, integration with hardware and software wallets, organizing marketing campaigns, and auditing of the smart contracts.
OpenSea - The world’s largest NFT trading platform is none other than OpenSea. It operates on the Ethereum blockchain and the Polygon sidechain. The New York-based marketplace has witnessed a trading volume of $1.77 billion in the last month. The numbers in DAppRadar reflect that. 230,890 users have processed 1.09 million transactions on OpenSea in the last 30 days.
Likewise, the NFT buying and selling platform contain a variety of features. It includes an auction listing button, filter and search mechanism, category-wise segregation of collectibles, sharing of comprehensive reports, and a status-wise toggle bar.
How can content creators and investors process transactions? They need to sync their digital wallets like Coinbase Wallet, MetaMask, Portis, Torus, Trust Wallet, and WalletLink. Are there adequate safety measures? Yes, users can protect their funds using private keys and secret passwords.
Rarible - In terms of convenience and user-friendliness, Rarible ticks the right boxes. The Russian-based NFT marketplace has also introduced a zero-cost NFT minting option recently. Hence, artists need not incur a huge amount of gas fees (in ETH).
Moreover, the Moscow-origin NFT trading platform has partnered with the Flow blockchain network recently. This will allow artists to access all the NFT projects of Flow.
What is the Unique Selling Point (USP) of the Rarible NFT marketplace? It is RARI tokens. The benefits of a Decentralized Autonomous Organization (DAO) are offered to holders. They can vote on certain proposals and make important decisions that influence the future of the trading platform.
Overall, Rarible has sold 207,320 NFTs since its launch in early 2020. 77,758 investors have purchased these rare assets. Besides that, the trading volume of collectibles have surpassed $195.1 million and the average price of sold NFTs is $941.10.
Foundation - Interested in attracting a community of creators? A London-based NFT marketplace is a leader in that, It is Foundation. The Ethereum-based trading platform also allows existing artists to invite 2 new creators. The last 30 days have been sensational for the Foundation NFT platform.
The trading volume has surpassed $57.95 million and investors have locked in $788,260 worth of assets on the Ethereum smart contracts. What are the stand-out features of Foundation? It includes filter and search panels, integration with digital wallets like MetaMask and WalletConnect open-source protocol, and a community guidelines section.
What is the ultimate goal of the Foundation NFT marketplace? It wants to unite creative artists, young crypto investors, and collectors.
SuperRare - Another Etheruem-based NFT marketplace is SuperRare. Adobe has also collaborated with SuperRare to help artists authenticate their NFTs, display provenance data, and add social media information and wallet addresses to their content.
Moreover, SuperRare is the top-choice marketplace for the world’s leading artists. The trading platform has also come out with $RARE, a curation token. Exhibitions, projects, and special releases can be easily organized by content creators on SuperRare.
The attractive features include a featured releases panel, live auctions button, market stats dashboard, a top collectors section, and a trending artists panel. Content creators can also set up digital storefronts for displaying their NFTs and selling off their lucrative collections to investors.
Crypto collectibles are the future of the creator economy. The entry of big tech companies and social media platforms will also broaden access to individual artists. Are you that entrepreneur who wishes to profiteer from the metaverse? You can accomplish objectives by collaborating with an NFT marketplace development company soon.