NFT marketplace is an excellent idea as the market is expected to grow at 35% annually between 2021 and 2026. Non-fungible tokens have become extremely popular; whether sports, e-commerce, real estate, or fashion, everyone is turning to NFT-based platforms. Let’s look at Omatech build NFT Marketplace With These 7 Awesome Features.
Talented people like musicians, artists, painters, etc., can hugely benefit from NFT marketplace development. Whether you are building an NFT platform from scratch or looking to revamp your existing platform, explore the blog for some excellent features that you can add to your NFT marketplace.
NFTs And Their Significant Properties
Non-fungible tokens have a unique identity and are on the blockchain. These digital assets can be anything- an image, a video, soundtracks, GIFs, etc. NFTs are not interchangeable, and each NFT is unique.
Properties of NFTs
- High Liquidity
What Can You List on an NFT Marketplace?
There are many things that can be listed on an NFT marketplace, including, but not limited to:
- Digital piece of art
- Digital collectible
- NFT art app
- Unique dresses/handbags
- In-game assets
- Music Track
Excellent Features that You Can Include in Your NFT Marketplace
Apart from the must-have features like an attractive storefront, NFT listing, and tracking, search bar, wallet, auctions, etc., there are other features that you can add to make it captivating:
The partial ownership feature allows users to enjoy partial digital assets rights. Users can hold fractional ownership; it’s a great option for people who don’t want exclusive rights.
Advanced Search Options
Advanced search options allow users to search for what they are looking for without inconvenience. The advanced search option feature allows users to join live auctions and collections without hassle. The feature also helps users to find categories instantly. It makes the whole experience of browsing the marketplace more enjoyable.
Your NFT marketplace must provide an option to embed NFT royalties to the created NFT. It allows the original creator to get a percentage of the sale each time the NFT is resold. It is a feature that you must consider when you build NFT marketplace.
The messaging feature is new; many popular NFT marketplaces do not provide it. The feature helps users to communicate about NFT sales, and they can also connect with communities and creators of their favorite NFTs.
A non-custodial marketplace is one in which the seller’s NFT is locked in a smart contract. It means the seller can’t abandon the wallet until a particular NFT is not sold; he is bound to be in the wallet.
Bidding is an essential feature of an NFT marketplace. This awesome feature allows creators to generate more revenue and bidders can check the fluctuating bidding prices. Don’t forget to add the bidding expiry date and time. It’s a fun feature that allows bidders to wait or bid according to the fluctuating price of the collectible.
Ratings help understand the actual worth of collectibles; it’s beneficial for newbies who are not equipped with deep knowledge about different collectibles. Previous users share their experiences in the form of ratings and reviews to tell others whether a particular seller is reliable. Many marketplaces offer rewards to users with the highest rating. NFT crypto art marketplace provides excellent tips to the highest-rated users.
NFT Marketplaces Have Promising Future
NFT marketplace development offers a promising future. The market for NFTs grew to $41 billion in 2021. Another example that NFTs help makes substantial money is Jack Dorsey’s initial tweet, which was sold for around three million US dollars.
NBA’s Top Shots, a trading card system, is worth more than 230 million. When it comes to music, NFTs are fruitful, In 2021, Kings of Leon band members sold their tracks for two million dollars.
How to Find the Best NFT Marketplace Development Company?
If you are looking forward to building an interactive NFT marketplace, you need to find the best NFT marketplace development company to turn your vision into reality.
To choose a company for NFT development, you should take care of the following things:
Online Reviews: Check online reviews of the company you wish to hire.
Portfolio: Ask the company for the portfolio so that you can see what previous projects they have undertaken.
Client Testimonials: Client testimonials are a great way to understand what clients love about the company and how was their overall experience with the NFT development company.
NFT marketplace is a great way to open up new revenue opportunities for businesses and their users. Having attractive features in the NFT platform will further increase the venture’s success. Consider the features mentioned above to grow the NFT marketplace. You can contact leading NFT platform developer Omatech Web3 about your requirements.