NFT investment is one of the best ways to boost revenue in today’s fast-paced world. The non-fungible token and cryptocurrency are the DeFi environment’s most valuable assets.
This blog will discuss NFTs and how to create a white label NFT marketplace on the DeFi platform. Decentralized platforms outperform centralized platforms and traditional transaction methods by a wide margin.
NFT stands for non-fungible tokens and refers to digital assets that confer holders with unique ownership. Digital assets can include artwork, lyric videos, and audio clips. They are non-fungible, which means they cannot be substituted for or divided into smaller tokens. Tokens are rapidly gaining traction as a new asset class in 2021.
Why you Should Choose a White Label Marketplace
Anyone can build NFT and its marketplace for the minting and trading tokens, but they must be familiar with an alternate development method rather than starting from scratch. To create the NFT marketplace, one can use an Opensea Clone script method.
However, the White label NFT marketplace remains the best option for users who require a platform in a matter of days. Building a platform from the ground up may take more than six months, and adding all the required features may take more than a year. As a result, one must invest time and capital wisely to maximize profits from the investment process. With White label NFT marketplace development, you can launch your own NFT marketplace in days. It accepts fiat currencies, bank wire transfers, debit/credit card transfers, and other digital currencies. Take control of your smart contract-enabled platform built on a simple yet secure protocol to provide a user-friendly environment.
Ways to Earn from the White Label Platform
The token you sell will generate revenue, and once other users begin trading on your platform, you can start earning money from it. NFT royalties are easily earned when your NFT creation is sold; they are calculated as a percentage of the sale price.
Numerous standard protocols are used in the development of NFT marketplaces:
- The ERC standards define a set of functions for a token type that enables predictable interaction between smart contracts and applications.
- To represent ownership of non-fungible tokens through multiple optional extensions, nft marketplace uses ERC 721 standard.
- ERC 1155 is a protocol developed by Enjin that enables the creation of non-fungible and fungible tokens on the Ethereum network.
- ERC 998 is an extension of Ethereum’s ERC 721 that provides users with additional benefits such as ownership of other NFTs. Additionally, it enables you to create a new token from a collection of ERC 721 tokens.
- TRC 721 is TRON’s first-ever standard, officially announced in 2020, and is expected to play an equal role to TRC 720. It is a collection of protocols to issue NFTs on the TRON network.
- High performance and complete customizability
- Simple registration for trading purposes
- Cart administration
- Customize your platform’s features and functionality
- Wallets for NFT integration & support desk
- Participate in a token trading auction
- Service of marketing and support
- Integration of APIs (Application Programming Interfaces)
- Encrypted with a firewall, denial-of-service, and distributed denial-of-service attack protection, as well as additional security layers
- It is possible to create a blocklist or block someone.
- Numerous platform-friendly features
- Numerous blockchains with inter-blockchain connectivity
Advantages of white label development include the following
- Creating a truly unique platform is entirely possible, as it is entirely customizable to the user’s interests.
- To thrive in today’s fast-paced world, you’ll need White label NFT marketplace solutions that can quickly adapt to changing market conditions.
- Trading success is contingent upon the platform development process, and thus its development by experienced developers ensures its success.
- It contributes to developing a popular marketplace platform with customizable features that enable hassle-free trading at a reasonable price.
- The most lucrative revenue stream is charging a commission for creating, selling, and purchasing NFTs on your marketplace platform. You can also profit from the advertisement displayed on your platform by users.
- A more engaging user interface and a user-friendly ecosystem contribute to a superior user experience. User-friendly designs incorporate simple navigation, advanced search options, and multiple payment options. Purchasing NFTs is as simple as purchasing from any other e-commerce website.
- Establishing a solid brand identity assists in establishing a high level of trust in the solutions, which results in a more significant number of users coming forward to trade on the platform, thereby increasing the business’s success.
- The owner’s reputation is also dependent on the quality of service provided to the user.
Why Should You Choose Suffescom over the Others?
Many companies develop White label NFT marketplaces available to you. However, selecting the right software company is critical for creating the best White label marketplace that attracts more users to your platform. Configure the NFT marketplace platform to meet your specific needs via a White label solution.
We will provide you with the most reliable platform. You can build your platform in a matter of days and begin trading immediately. Schedule a meeting with our experts to learn how to launch your cryptocurrency business with confidence.