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Next Generation NFT Marketplace Development Company

We strive to develop & craft NFT marketplace systems from the start by using white-label solutions to meet your requirements, timeframes, and costs.

What is NFT and NFT Marketplace?

Non-fungible tokens (NFTs) — also known as “nifties” — are unique, indivisible, and provably scarce digital assets that are used in gaming, art, music, and ensuring the provenance of high-value goods.

NFT is a unique, indivisible digital asset created on ethereum blockchains. The uniqueness of each NFT can be demonstrated by a unique label created using specialized cryptographic code, and no token can be replaced by another. This is what makes NFTs different from fungible assets like bitcoin or fiat currencies such as the U.S dollar. The smart contract of the Non-fungible token holds the details of the creator, owner, and identity details. An NFT provides strong ownership rights, immutability, and security to the holder.

With a decentralized platform like NFT, you are capable of creating, buying, selling, and storing non-fungible tokens. NFT marketplaces are focused on selling specific assets.

Non- Fungible Token NFTs Standards

NFTs are created on the Ethereum Blockchain. Common Standards of ERC used for NFT are ERC 721, ERC 998 and ERC 1155.

ERC 721

The ERC721 is the first standard for displaying fixed digital assets. The ERC721 provides a map of the addresses of the unique identifiers representing the owner of that identifier. ERC721 also authorizes the transfer of these assets.

ERC 998

ERC998 is an enhanced version of the ERC 721 token. It adds the ability for non-fungible tokens to own other non-fungible tokens and ERC 20. Non- fungible tokens that implement ERC 998 also implement the ERC 72 standard.

ERC 1155

ERC 1155 token standard is designed by the Enjin network. It can be used for both fungible and non-fungible assets along with transaction bundling which reduces the cost of token development. A distinctive feature of the ERC 1155 is that it brings into use a single smart contract to display multiple chips at once.

Characteristics of the Non-Fungible
Token Marketplace

Unified Tokens

The uniqueness of NFTs tokens is that you cannot divide it. They cannot be partitioned and used by multiple people.

Rareness

Every NFTs is rare. A developer can create a number of NFTs as much they want to but also have the power to control its supply which will directly change its market value.

Unique Token

Each and every NFT represents a unique asset that cannot be modified, converted, divided and duplicated. This all makes the NFTs unique.

Transparency

The NFTs are built on a decentralized blockchain network. All transactions are recorded on the public distributed ledgers and can be verified at any time.

Complete Ownership

NFTs details are stored on the blockchain distributed ledger. The creator of the NFTs has access to the private key of it and can transfer the ownership to another individual.

Compatibility

The NFTs can be purchased, resold and also traded across different NFT marketplace without any restriction. Due to its instant tradability feature NFTs are highly liquid.

Benefits of NFTs Development

  • Offers Intrinsic value to your unique assets
  • The anti-fraud mechanism handles your collectibles in a secure environment
  • Transparency is a blockchain attribute that offers tracking of every transaction in the community.
  • NFT’s are identical, possess their own specialized protocol in each token generation
  • Blockchain allows you to recover your chips using distributed book technology, where each node has detailed transaction information. No change can be made in the transaction details
  • Elevated market visibility as it caters to many big industrial giants.

NFT Marketplace Use Case

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Art

Digital artworks are one of the popular and most valuable assets in the NFT Marketplace. Digital arts are the perfect blend of creativity and technology.

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Digital Collectibles

Digital avatars built on blockchain act as NFTs like CryptoKitties. Create your own marketplace to showcase your collections and bring them to trade-off using NFTs.

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Music

Music artists need a place to showcase their creations officially in the market. Music NFTs allow the artist to have complete ownership of the song.

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Gaming

With its holistic approach, it unveils gaming potential for NFTs trade in the virtual world.

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Real Estate

NFT real estate marketplace provides complete ownership and uniqueness of plot to the owner. Also, provide streamlined transactions without involving any intermediates.

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Domain

With a Blockchain-based domain system, domain owners are now capable of managing domains by utilizing private keys.A blockchain domain system allows domain owners to control their domains using private keys. Besides, no oversight organization could overlook these domains.

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