Because NFT trading platforms are based on blockchain technology, you must hire a firm whose specialists are well versed in the structure of such platforms. In this regard, specialists from 4IRE, which has been working in the field of software development for 12 years, including the NFT Marketplace, can assist you. Each client is treated as an individual, and the work is based on the employees’ advanced technical experience.
What are NFT marketplaces?
NFT is among the largest decentralized marketplaces for buying and selling digital art, and also selling, exchanging, and minting their own NFTs. Its primary objective is to carry the issuer’s parties together and use them as a range of tools to simplify and accelerate interaction.
The NFT market is accessible to anyone. The most important factor is access, to obtain it, follow the steps below:
- Create a user account that will allow you to purchase NFTs.
- A blockchain-compatible crypto wallet from which you intend to purchase NFTs.
If you really want to set up your own NFT marketplace in which users can transact, you must do the following:
- Select the blockchain technology that will serve as the foundation for your market.
- Create a branded wallet from scratch (laborious) or integrate an existing one that supports major cryptocurrencies.
NFT blockchain options
Ethereum is widely regarded as the most important blockchain technology; its functionality has swept the globe. It is an ecosystem that thousands of applications, platforms, and marketplaces rely on. However, it has significant drawbacks, including low throughput and high gas fees.
Today’s market offers new additional blockchain solutions, such as Polygon, which has a higher throughput and 100% corresponds to Ethereum. Try to use Polygon’s multi-strand structure and high potential in collaboration with 4IRE experts.
A variant of the NEAR blockchain protocol has also gained traction, ensuring the dependability and efficiency of dApps, exchanges, and NFT marketplaces.
Solana is the fastest and most scalable blockchain, capable of consistently processing 2000 transactions per second. The introduction of innovative technologies for node interaction and transaction processing resulted in such high efficiency.
How do these marketplaces work?
When you join the regular NFT platform, you gain access to all types of NFTs created by hundreds of users ranging from beginners to seasoned professionals. The NFT P2E game market is distinct in that these sites contain assets created by game owners. These assets are only usable in a single game.
The steps are as follows:
- The user establishes an account and gains access to the trading platform.
- registered in the crypto wallet of choice.
- Makes deals.
In turn, the NFT trading platform manages transactions and monitors the fulfillment of smart contract conditions.
Types of NFT marketplaces
NFT marketplaces are classified into several forms:
- artistic works
- collectibles
- event Tickets
- real estate legal documents
- domain names
- video
- games
One of the most common is NFT P2E marketplaces which are then divided into two types:
- Local – have limitations on NFT assets from a single game. This means that players can only trade NFTs from a single game. All transactions are conducted in «local» currency with minimal transaction fees.
- Global – are comparable to traditional stock exchanges. They post offers from various games and trade NFT assets in various currencies, including universal crypto–assets.
Because the NFT market is in high demand and rapidly expanding, new trading platforms are constantly emerging to attract users with their flexible terms and diverse asset offerings for crypto gamers.
If you want to launch your own NFT marketplaces contact 4IRE, whose experts will advise you on all the nuances of this area and can assist you with the launch.
