Why & how to build your own NFT marketplace?

As NFT popularity grows, more pressure is put on businesses, designers and developers to create advanced yet custom and scalable NFT marketplaces.

From artwork to online games and niche brands, NFTs bring unprecedented disruption and enable new value creation channels. But depending on each case, NFTs might require different deployment and interaction options. Just like traditional web apps and stores, the more you are looking to implement your own logic to NFTs or extend your existing apps to web3, the more you'll need to build you own custom NFT Smart Contracts as well as the corresponding marketplaces.

But if you want to develop your own NFT marketplace, you need to keep in mind some technical considerations. Your marketplace must enable a user experience that makes it simple to search, buy, sell and transfer any desired digital asset. At the same time, it runs a back-end process which has to efficiently handle the subsequent transactions.

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The storefront

Your custom NFT marketplace can be though of as an e-commerce platform that is connected to the Blockchain. It requires a front-end storefront that is attractive and intuitive. This is where buyers and sellers view, search and sort items by category - such as price, rarity and owner - or list their own NFTs for sale.

The marketplace must provide a positive experience for both buyers and sellers, including a well-designed process that provides clear step-by-step instructions through each transaction.

Handling transactions

From direct buying and selling to auctions, your marketplace needs to handle transactions efficiently, for both buyers and sellers.

For sellers, for example, the marketplace can list data about how many people have viewed the file and bids during an auction. The platform can also alert them when someone makes an offer. Buyers might want to know that an item has gone through an authentication process before they make a purchase, etc.

Depending on your target audiences and specific use cases, your marketplace needs to implement special mechanisms and secure wallet authentication through smart contracts.

Getting further

NFT marketplace implementation time will primarily depend on two main factors: the number of features you look forward to (as well as the kind of integration you need), and the tools or resources you plan to use. Be ready to spend time on user on-boarding, crypto integrations, payment options, NFT configuration and inventory management. You might also need an admin panel to monitor your platform.

FeverTokens provides you with the infrastructure you need to build and integrate advanced custom NFT marketplaces, without having to worry about Smart Contracts or software development. Only focus on your users and the features your want!

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