The NFT marketplace website is becoming important platform for artists, painters, designers, art lovers, and auctioneers. It has opened new opportunities especially when the museum and gallery doors are closed from arranging in-house artwork selling and auctioning. There is no doubt that the NFT market is booming. It’s up to you to decide how you can take advantage of this trend. One of the possible opportunities can be launching its own NFT marketplace.
The closure of art auctions, galleries, museums, and so on, can create a great negative impact on the sales of arts. But there is a totally different scenario in NFT art website. In December 2020, token-based art sales has reached $8.2 million, up from $1.4 million in December 2018. If you are planning to create a digital artwork NFT marketplace website, then start reading.
Defining NFT In A Nutshell
The term NFT means Non-Fungible Token is the most trending term in the present digital era. In short, it refers to the blockchain-linked piece of digital content. Texts, images, digital artworks, audio recordings, domain names, trading cards, or in-game items can be considered as digital content for NFT. Every digital artwork NFT item is unique, and it cannot be replaced with another item. Because of that, they are called “non-fungible tokens”.
The Most Basic Properties For NFT Token
🔰 Every NFT token is undividable. That means you can not divide and sell them partially. Detailed information about the digital artwork and artist is encoded in NFT tokens. There is no interoperability; since each token is unique, it cannot be exchanged.
🔰 In exchange for cryptocurrency, you can trade NFT tokens. NFT owners have plenty of opportunities to monetize their assets through bundling, auctioning, and sharing. Due to their ability to be traded instantly, non-fungible tokens have greater liquidity. Basically, it means that digital assets are accessible to a wider market of buyers.
🔰 The programmability of non-fungible tokens is just like that of other digital assets. These may include sewing, forging, and random generation. NFTs can be hard-capped by developers thanks to smart contracts. Specific properties can be enforced by code so that they cannot be changed once they’ve been launched.
The Most Popular NFT Token Examples
When people hear about the NFT art website for the first time, their most common question is about the use case and implementations of NFT tokens. Here are some of the most recent examples of NFT tokens.
👉 Texts Or Messages
It is not surprising that tweets can be considered text NFTs. As a side note, did you know that Jack Dorsey sold his first tweet before starting his company? Recently, Valuables sold it for $2.9 million.
👉 NFT Digital Artworks
Digital artworks are considered NFT tokens also. We would like to point out the NFT token is considered currently to be the most expensive. The piece was created by digital artist Beeple and is titled “Everyday – The first 5000 days“. This artwork was sold for an astonishing $69 million at the British auction house Christie’s.
👉 Gaming Characters
CryptoKitties are cute, collectible digital art creatures that are an early example of NFT tokens. A blockchain game with the same name was released in 2017 with these characters as its protagonists. As one of the first uses of blockchain technology for leisure and entertainment, it was a pioneering effort.
👉 Sports As NFT Token
Sports did not stay out of non-fungible tokens. Hence, the NBA decided to launch its digital collectible line. Already, 400 million dollars have been traded on the line.
Value Of Creating NFT Marketplace In Digital Age
From 2018 to the present time, the market capitalization of NFT has increased almost tenfold. Based on the recent data, it is claimed that achieving market capitalization for such a young market is a difficult endeavor and that this estimate is “conservative.”.
NFT transactions and their values also reflect the volatilities within the new market: transactions decreased for games, while value increased for art. The intensity of events in this new market can also be seen in the NFT transaction volumes for different segments. An example of this was the sale of an NFT digital artwork for approximately $ 69 million in early 2021, making it the third-highest value work ever sold by a living artist.
The above data represents that the present time is the best time to invest in NFT art. And its demand is getting high only. So, if you are planning to create your own NFT marketplace website, then it’s the right time.
NFT wallet usage went from 112,731 in 2019 to 222,179 in 2020 (+97,09%). During the time period, 44,644 buyers and 74,529 sellers bought and sold, respectively. Furthermore, total NFT volumes grew by 290% to $252,846,205 (+62,862,687).
Basic Functionalities OF Your Own NFT Marketplace Website
The NFT marketplace website works differently from other types of eCommerce websites. Here, digital artwork and other NFT tokens are offered for sale, brought, and open for auction. In order to build a successful NFT marketplace website, we need to see what the basic features should be. So let’s take a look at them.
⭐ Maintain Transparency In Transaction
Blockchain is used to create the NFT marketplace website. Essentially, blockchain maintains data in separate, but interconnected blocks. You can pull data from any block and it will be updated in all blocks. So, Blockchain ensures a transparent and error-free payment process of NFT marketplace websites.
⭐ Have Own Storefront
Every eCommerce website maintains online inventory so that they can easily control the supply and demand of the products. The same goes for the NFT marketplace website. A NFT art website has its own storefront to manage NFT tokens swiftly.
⭐ Easily Find Products By Dynamic Filters
With the filters, your customers will be able to navigate desired NFT tokens. As a result of this feature, the time it takes between selecting the NFT art and buying it is significantly shorter. A few of the most commonly used filters include price ranges Recently Listed, Most Viewed, and many more.
⭐ Integration Of Digital Wallet
A digital wallet is one of the basic features of an NFT marketplace website. By enabling this functionality, sending, storing, and receiving cryptocurrency and non-fungible tokens is possible. Users of the NFT marketplace should be able to connect their preferred wallets for convenience.
⭐ Decentralization Of Transaction System
The decentralized nature of blockchain implies the following functions in the e-commerce marketplace system: nothing is kept centrally; all transaction data are copied and distributed over a network of computers; whenever a new block is added to the blockchain, each computer on the network updates its blockchain to reflect the change; in the event of a hacker attack, only one copy of the information will be compromised. Thus, market governance and control are limited: you cannot set any rules or conditions, such as price control.
⭐ Opportunity To Sell, Buy, And Auction
It is one of the most important stages of developing the NFT marketplace website to implement a convenient auction system. Make sure that the auction form contains the expiration date. By doing so, you will increase the control users have over their bids. Additionally, adding a watchlist allows your customers to monitor the current bid status of the auction.
Should You Go For Custom NFT Marketplace Development Or Ready Solutions?
Let’s find out about the technical implementation of NFT art websites. When it comes to creating an NFT marketplace, you can go for ready solutions or build one with custom development. If you go for ready solutions, it will be less expensive. You can also save time by developing your NFT marketplace faster. The most popular NFT marketplaces are OpenSea, Decentraland Marketplace, Superrare, Ghost market, and so on. You don’t have to worry about your website security or maintaining the digital wallet.
Alternatively, you can build your own NFT marketplace website to meet your specific needs. Any new functionality can be incorporated into the system upon request. Therefore, scaling your platform and enhancing it to reach more users will not pose any problems. Furthermore, custom software development ensures that sensitive information is protected. It is crucial for non-fungible token marketplaces where failure to comply with security laws can negatively affect the marketplace.
Design Your Own NFT Marketplace Website Within 5 Minutes [No Coding Needed]
If you are done implementing smart contacts token generator and digital wallet, then the thing is to create your NFT marketplace website. As mentioned above, you can easily minimize costs in this section by choosing WordPress. WordPress has developed security breaches and other security issues in their new updates. Furthermore, you can create your own website without coding.
To get started with developing your NFT marketplace website, you need to get a stunning domain name and hosting for your website. Best managed hosting providers will help you to set up WordPress with one click.
Step 1: Get A Stunning Template For NFT Marketplace Website
While choosing a ready Elementor template for your website, check out if the template pack has all the essential pages. Analyzing templates design, responsiveness, and cross-browser capability, here mentioning the 2 best template pack for NFT marketplace website from Templately.
Websites for NFT markets, blockchain websites, cryptocurrencies, and other related industries can be created with this ready Elementor template pack. Furthermore, NFTGallery also has beautiful, animated testimonial carousels, infoboxes, Call-To-Action buttons, and so on. Mentionable template pages of NFTGallery are Home Page, Activity Page, Browse Page, Category Page, and Details Page.
NFToken is another powerful, modern WordPress website template pack. . NFT agencies and businesses can easily start their websites with this outstanding template pack that has been specially designed and developed for them. Its 7 stunning landing pages can easily be implemented without any coding since it is built with Elementor and Essential Addons.
Essential Plugins Needed For Creating Your NFT Marketplace Website
As Elementor templates depend on other plugins for their functionalities, you must get those plugins for your NFT art website. Here mentioning the list of plugins you must get.
🟢 Elementor: As we are creating the NFT art website in Elementor website builder, so you must install and activate this. Elementor is the most popular website builder of WordPress.
🔵Essential Addons For Elementor: It is the most popular Elementor library with 70+ widgets and 1 Million+ happy users. Many NFTGallery template functionality depends on this plugin. To install and activate it.
🟣 Templately: You can find NFTGallery only in Templately, the ultimate library for Elementor templates. Open your account in Templately and integrate it with your NFT marketplace website.
Step 2: Insert The NFTGallery Ready Elementor Template
Let’s start by creating your NFT art website home page. Add a new page and click on the ‘Edit with Elementor’ button from the top. It will take you to the Elementor editor panel.
There you will find all the widgets and functionalities to design your NFT art website. From the middle of your page, click on the ‘Templately Blue’ icon. It will directly take you to the Elementor template library. From there search for NFT marketplace website templates and insert them.
We have chosen NFTGallery homepage for the tutorial. It will take a while to load the template. After loading this is how your home page will look like.
Step 3: Customize Your NFT Marketplace Website Contents
Now time for customization. NFTGallery Elementor template is created in such a way that you can use its ready contents for your website as well. But to give it a personalized touch, you can add your logo, NFT digital artworks, and other NFT tokens. For the section you want to modify, just click on it. Its editing panel will open instantly. Now tweak and turn all the options available to give it a personalized look.
Step 4: Save Your Designs In Templately
If you want to save your customized designs for security purposes or reuse them later, you can do that easily with Templately’s amazing feature named MyCloud. It offers you personal cloud storage that comes just after signing in Templately. You can save all your templates and blocks here and later use them on multiple pages and websites instantly. With this exclusive feature, you won’t have to recreate the same block or page again!
As a starter, to save a single block on Templately, right-click on the section and hit the ‘Save Block To Templately’ option. Your selected section will be saved in your cloud. It will help you to secure your customized design also.
In the same process, you can save your entire customized page on Templately also. To do this right-click on the block and hit the ‘Save Page To Templately’ option.
If you want to share your newly customized sections and templates with others, you can do that too with Templately’s other cool feature, WorkSpace. By using this feature, you will be able to collaborate with all your teammates instantly on cloud items. Your team will save time by creating fewer repetitive sections and pages.
Time To Launch Your NFT Marketplace Website
If you have followed every step up here, it’s time to make your site live and share it with the rest of the world. After finishing all steps, select the ‘Publish’ button from the bottom left.
Congratulations! You have created your NFT marketplace website homepage using the WordPress template from Templately. Keep creating other essential pages of your website in the same process. Have a look at your beautiful plumber website landing page created with NFTGallery.
🎁 Bonus: Introducing NFT Gallery Widget From Essential Addons For Elementor
With the latest release of Essential Addons v5.5.0, we have come up with an exclusive NFT Gallery widget that can be a game changer for you. This wonderful widget can help you to showcase your OpenSea NFTs anywhere on your Elementor website without any code. So, from now on, you can enjoy the freedom of displaying your NFTs and grow your business with ease. Read this blog to learn more about NFT Gallery wight and let’s try this wonderful widget today.
Hopefully, you have learned how to create your NFT marketplace without coding. You just have to pick the right template and start creating amazing websites with Templately. Also, you can contact support team of Templalety for any need, they are always there for you.
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