Non-fungible tokens or NFTs as they are commonly known have taken the world of blockchain by storm. They have seamlessly integrated the blockchain world with real-world collectibles, and have given them a digital dimension. NFTs have created an experience similar to owning a collectible without owning the copyrights to reproduce the collectible.
This revolution has spearheaded a wave bringing into light a lot of artists specializing in programmable art, digital art, music production, and every other possible creative space. The participation of celebrities like Lindsay Lohan has further enhanced the popularity and the fact that the first tweet by the founder of Twitter Jack Dorsey was sold for a staggering $5 million as an NFT stand as a testimony to the awesomeness of this concept.
There are certain countries like India where NFTs are gaining popularity, but they do not have a proper NFT marketplace. On the other side, literally, NFT marketplaces like Rarible and OpenSea have been creating waves. Rarible has gone a step further and has even enabled people to create their own NFT within their platform, making it easy for creators to launch their own NFT without any hassle. As a Marketplace, it has mastered the art of increasing the supply to keep up the curiosity and engagement on the side of the demand. The gap has opened a lot of opportunities for entrepreneurs to explore this space.
There are different ways to develop your NFT marketplace. Building the platform from scratch, however, would be a cumbersome and daunting affair.
Advantages of a White Label Solution
A white label solution is available as a product that can be purchased off-the-shelf unlike building a product from scratch which needs to be availed of as a service by the entrepreneur from some company that specializes in NFT marketplace development. Hiring an in-house team of blockchain developers would be a bigger hassle.
A white label NFT marketplace solution is bound to save a lot of time, and in turn, a lot of money as well. This means that you can launch your own NFT marketplace platform in a very short period of time.
A white-label platform is customizable. The customization is not only limited to the visual front in terms of design but also on the backend in terms of establishing compliance and in facilitating better product/NFT listing.
The white label NFT marketplace solution has already been perfected as a product. Therefore, there are almost 0 possibilities of glitches that might interfere with the expected basic functions of an NFT marketplace.
Even if you go for an NFT solution the white label way, there are a few features that need to be intact to ensure that the experience of using your NFT marketplace is flawless and interesting.
The Features of an NFT Marketplace
The interface of the NFT should be seamless and intuitive. It is to be remembered that people who create NFTs are, in most cases, digital creators, and people who purchased them are either collectors or investors. In this case, both parties might not have the essential knowledge about blockchain technology and the intricacies that go into creating a non-fungible token. Therefore, your NFT Marketplace platform should be easily navigable and even a technically uninitiated user should not have any problem in executing the intended action.
The sign-up should be made simple and easy. Whether or not the sign-up options should include legacy credentials can be decided based on the business and if there is a possibility for data security to be reached and if there are any labs.
While we are talking in terms of security, simple security features like two-factor authentication should be enabled for your NFT marketplace. It is one of the most important features that you need to consider, and it is not wrong to ask about the kind of security measures that the white label solution has incorporated. Features like IP blacklisting, data encryption, anti-denial of service layers, network monitoring, firewalls, intrusion detection, port management, and server ordering will go a considerable distance in ensuring the security of your white label NFT marketplace.
The platform should be accessible across multiple devices. Chances of a person wanting to buy non-fungible tokens from their tablets or desktops or mobiles should be considered. The user interface should be designed to be progressive and responsive. The experience across devices should be in line with what a user of that particular device would want.
A user should be able to buy NFTs using multiple payment options. While the usual payment options like credit cards, debit cards, Internet banking, and wallets should be considered, the platform should also have an integrated NFT wallet that will help them to store and transfer NFTs.
There are users who might be interested in particular NFT creators or sellers. There should be an option for people to follow specific sellers, so they can have an option to purchase the NFTs that they create without much delay.
Both NFT creators and purchasers should have access to support across multiple platforms like phone, email, and chat. This will help and smoothly onboard customers and retain them. It is to be remembered that these people might not have the technical expertise and they will require initial guidance.
The administrator should have the power to manage payments, access marketplace analytics, manage customers, blacklist and whitelist users, create SMS alerts and notifications, and manage the content on the website. They should also be responsible for customer support and if needed, they should be able to delegate it to a team.
Conclusion
The relevance and the awesomeness of a white label solution for NFTs have already been discussed. If you are a crypto entrepreneur who would like to jump into this new wave of interest in non-fungible tokens, all you need to do is invest in a white label NFT marketplace solution. You can approach a company that specializes in white label NFT marketplace development and customization. They will understand your requirements and present you with a perfect solution that ensures you can launch into the NFT crypto space without any delay and without any hassle!