Traverse Through the Blockchain Space with An NFT Art Marketplace

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A year ago, Beeple (aka) Mike Winkelmann sold his NFT artwork for $69 million at an auction in Christie’s. Since the sale, the hoopla surrounding NFTs has grown to epic proportions, with $44 billion spent on roughly 6 million NFTs. But what does this signify for the art world as a whole?


If you’re an entrepreneur reading, then this is the ideal article on the NFT art marketplace that you might be looking for. 


What Is An NFT Art Marketplace?


It's a platform that makes it simple to store and sell NFTs (Non-Fungible Tokens), either through a direct purchase or auction at a set price. You'll need a crypto wallet to make trades and store your tokens to use such a marketplace.


Users/artists can create their accounts, upload digital artworks, and sell them on NFT marketplace. Specialized marketplaces (for instance, an NFT art marketplace) is more popular than conventional ones as they include seamless customizations, audience-specific changes, etc. 


Must-have Features of An NFT Art Marketplace


  • Token Search - Consumers should be able to obtain complete information about things they require promptly and without exerting any effort. Every product should be organized with features in your NFT art marketplace.

  • Auction - Customers must be able to buy and sell NFTs recorded on the platform on a marketplace. Their offers should include a bid validity date and information on the current status of those proposals.

  • Connect Wallet - Customers should be able to store, transmit, and receive NFTs and cryptocurrencies through your NFT marketplace's wallet. To integrate your platform, you can build your wallet or use existing wallets like Formatic, Coinbase, or MyEtherWallet.


The Final Thoughts


Since the NFT usage in the art industry is growing, it's high time you launch an all-art NFT marketplace. With your marketplace platform, you can make money in two ways: charge a listing fee, and include a sell-on fee (during every NFT sale).


Right then, the first and foremost step in building your marketplace is choosing your technology partner. Do it wisely!

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