Hello everyone. In this article, we are going to walk you through the features and functionalities of the white label NFT marketplace platform. What is the Whitelabel NFT marketplace, How to find the best-fit NFT marketplace for your launch?
Let’s see what is NFT Marketplace or Platform.
NFT Marketplace is a decentralized platform that allows users to generate, buy, sell, Auction, and store Non-Fungible-Tokens, and it is quickly gaining traction as a valuable asset in the NFT universe.
Why White Label NFT Marketplace Comparative Developing Own From Scratch?
White Label NFT platform enables you to launch your own Popular NFT marketplace in just a matter of days. Mostly the platforms are fully customizable and built-in with all the features you would need to launch a successful NFT marketplace. It supports a wide range of NFT standards of popular blockchain networks, like Etherium, iOS tezos by Nance chain, Tron, Cardona and more.
Introduction of White Lable NFT Marketplace
White label NFT Marketplace is a prominent customizable NFT marketplace advanced to list and trade digital assets in the form of NFTs. The NFTs listed may be any digital assets like arts, videos, images, Metaverse, and more digital items. Creators list their NFTs to sell or open bids as per their requirements and users trade NFTs in exchange for cryptos in the marketplace. White label NFT marketplace can be customized depending on the client’s business requirements to drive traffic and make a brand reputation for their marketplace.
White label NFT Marketplace is an in-built platform that can be adapted as per the client’s business requirements. A White label-based NFT Marketplace Software has become the most popular platform in the crypto place to make profits in billions. Business owners mostly pick the White label NFT marketplace because of the business benefits of launching a white label NFT Marketplace.
White Label NFT Marketplace Development Service
NFT Marketplace Software is developed mostly in two ways. NFT Marketplace Software Development from Scratch and the other one is a customized White label NFT marketplace development. Creator works on the development process as per the client requirement to develop the white-labeled NFT marketplace
The White Label-based NFT Marketplace Script is generally built on prominent blockchain networks like Ethereum, Binance Smart Chain, Solana, Cardano, Polygon, and other blockchain networks that are in the recent trend.
Investors preferred White Label NFT Marketplace because of its 100% customization with its benefits like low cost and minimum time needed in the development of the white label NFT platform.
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White Label NFT Marketplace Development Process
Blockchain specialists design White label NFT marketplace development according to the following workflow. Investors and businessmen have to pre-plan their platform features with the experts for a better result.
UI development
The developers develop the best user interface of the platform with the most attractive theme and display the platform’s features, developing an attractive user interface delivering the best information of the platform will increase quick traffic to the marketplace.
Smart Contract
The NFT marketplaces are decentralized platforms that are not monitored by a third person or by any admin. However, these marketplaces have to be monitored to avoid theft and misleading transactions, to monitor that smart contracts are programmed and all functions in the marketplace are monitored with these smart contracts.
Storage Setup
The transaction info of the platform and user’s data has to be stored, and at the same time, the NFTs listed on the marketplace also have to be stored. Developers created IPFS storage to store the NFTs and develop DB to store users’ data.
Integrating backend & frontend
Once finishing the backend and frontend development process, developers integrate the frontend user edge with the backend functions by setting up keys and more. Developers initiate their integration procedure once the clients consent to the UI design.
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On Testnet
Once the platform is fully developed the developers execute the whole white label NFT marketplace on testnet to identify the errors in the platform and work on it to remove all those errors. Specialists work on test net until the marketplace works seamlessly.
Deployment
Once the platform works seamlessly, developers run the white label NFT marketplace in the client’s server and will be made live for the worldwide users to access the platform and trade NFTs with cryptos.
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How does White Label NFT Marketplace Features & functionality?
The platform supports private listings, gifts, and drops, asset ranking asset bundling multiple type listings, Dutch auctions, English auctions, fractional ownership, royalty earnings for the original owner, referral programs, affiliate programs, order management, inventory management, integration with Google Analytics and marketing tools like buffer, integrated blog. Slack integration and many more features.
Buyer
A crypto user who wants to buy NFT has to sign up to the NFT platform with his crypto wallet and by entering the user information. Once signed up, the users will be enabled to trade NFTs listed on the platform by bidding. The listed NFTs will be in the auction or open bid if NFTs are stored under auction then the user will be able to bid and only if the seller accepted the bid value the NFT is moved to the buyer wallet.
In the case of an open bid, the seller pre-defines the NFT value and lists it on the NFT platform. So in this instance, once the buyer bids the NFT and NFT are moved to the buyer wallet, and the cryptos are transferred to the seller wallet.
Seller
A seller also has to sign up to the NFT platform as stated with all the information. Once signing up to the platform, the user has to forge his digital asset as NFT. Minting is a method where the digital asset is minted on a blockchain network and the NFT data will be stored with an address on the blockchain network.
Once minted, the seller lists NFT in the marketplace in the auction or open bid by defining the crypto value for the NFT. The NFT is minted on the marketplace once the seller pays the off-gas fee to mint the digital asset as NFT.
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nFT white label marketplace for Android & iOS
The platform is also available as a mobile application on Android and iOS platforms, you can manage the marketplace activities on the go with the admin mobile app. In this article, you have already walked through the core features and functionalities of the user side of the NFT marketplace. The entire design, including the logo, and color, theme, etc. can be customized according to your specific branding requirements.
Many White label NFT platform also supports multiple languages and an integrated blog, it can publish recent articles, news and updates.
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Core Features of White Label NFT Marketplace
- One section should be to displays the latest NFTS added to the platform.
- One section should be to show popular NFT.
- The marketplace homepage should have a universal search option that can be used to search and find specific NFT’s.
- Filter functionality should be there filter the NF T’s based on different categories such as digital arts, collectibles, etc.
- On listing page you can see all the NFT’s available on the platform. Users can filter NFT’s based on their price or by different collections. The page also supports list and grid views of NF T’s for the convenience of users. They can also sort the list of NFT’s based on their popularity rating, price, bid and auction stage.
- This should be the NFT listing page with full detail, previous buy and sell record. When you click on an NFT, a very detailed product page over here you can see the basic details of the NFT details of the Creator and view the digital asset file in an interplanetary File System, also known as IPFS. The price of the NFT is displayed here.
- The platform should supports both fixed-price sales as well as auction-based sales.
- NFT buy page also lists related and similar NFT products listed by other NFT sellers on the platform/seller. You can purchase the NFT by adding it to the cart. Once the NF T’s are added to the cart, you can proceed to buy them from the checkout page.
- Users can also add coupon codes to get purchase discounts. Once finalized, the user can proceed to checkout and provide the billing details here. The user has multiple options to complete the checkout, including fiat currencies, cryptocurrencies, for automatic Metamask, wallets, etc.
- When the payment is successfully processed, the purchased NFTs will be transferred to the user’s wallet. From the user dashboard, the user can view their order history which shows the status of each order price details and view detailed order information.
White label NFT marketplace functions with the programmed smart contracts and the platform functions contrast for NFT buyer and seller.
What is the Cost of White Label NFT Marketplace
The White label NFT marketplace cost depends on the level of customization you want. Features that you required in your NFT marketplace with white labeling. This approximate white label NFT marketplace costs near $25000 to $30000.
| Features & Functionality | Time Required to Develop | Costing $25/hr |
| UX/UI Development | 42 hours | $1000 |
| Authorization and Security | 72 hours | $1750 |
| User Profiles | 42 hours | $1000 |
| Home page | 84 hours | $2000 |
| Search and filters | 96 hours | $2250 |
| Product page | 42 hours | $1000 |
| Reviews & Ratings | 48 hours | $1125 |
| Shopping cart | 48 hours | $1125 |
| Payments | 42 hours | $875 |
| Notifications | 32 hours | $875 |
| Etherium incorporation | 96 hours | $2125 |
| NFT management | 96 hours | $2125 |
| Inventory management | 42 hours | $875 |
| Buyer panel | 64 hours | $1250 |
| Artist panel | 132 hours | $2500 |
| Admin panel | 85 hours | $2000 |
| Costing of NFT Marketplace | 1063 hours | $23875 |
Conclusion
NFTs have been the most trending topic of 2022 and the same continues, the NFTs business has increased and this is never going to be down. NFTs have established over a billion-dollar market value record in 2022, and it is expected that NFT will reach new heights and make new records when compared to 2021. Business owners launching their crypto sphere business with White label NFT Marketplace will be making their profits in billions. Connect with ChainTechSource, the best NFT marketplace solution provider and kick-start your world-class NFT platform on your preferred blockchain network.
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