Whitelabel NFT Marketplace Solutions in the New Web3 World!

by James · November 26, 2022

The NFT industry has been booming since the market boomed in late 2021 when billions of dollars worth of cryptocurrency were traded across platforms for these digital assets. While the NFT boom of 2021 revolved around images, videos and memes, it also showed that these blockchain entries could do more than revert JPEGs and GIFs.

Several NFT market ventures demonstrated the power of NFTs by selling various new NFTs, which have become profitable business models since then. Speaking of NFT marketplaces, Whitelabel NFT marketplaces have become a hot topic in 2022 as more startups aim to make money selling NFTs.

Table of Contents

Whitelabel NFT Marketplaces: An Explainer

A Whitelabel NFT Marketplace is a customizable solution built and tested in advance. Such a ready-made NFT marketplace is advantageous for many reasons, the most important of which is that it is quick to launch.

These solutions are typically created by third-party developers affiliated with NFT marketplace development firms that help companies launch these platforms as a service. Such ready-to-launch solutions favor businesses trying to test their feasibility in the Web3 space, or small-scale startups looking to make it big in the domain.

Such platforms can originate from two types of solutions: Bespoke Whitelabel NFT marketplaces built by firms and NFT marketplace solutions that resemble existing platforms.

Must-have for a ready-made NFT Marketplace solution

The finished NFT marketplace solution should be able to connect to several crypto-wallets where users can store their cryptocurrencies and NFT assets.
Such a solution should be affordable for everyone by ensuring that all the complexity involved in developing from scratch is eliminated through intricate end-to-end development.
Whitelabel NFT marketplace should include advanced security measures including MFA (Multi-Factor Authentication), Jail Login and DDoS, which can ensure user safety while using the application.
It is also crucial to offer support for multiple currencies, as the crypto world today is more than Bitcoin and Ethereum. An easy-to-launch NFT marketplace that supports a variety of major cryptos will offer a competitive edge to ventures.
Apart from the basic features, a ready-made NFT marketplace solution should have some unique features that can be a game-changer for a business using it.

Whitelabel NFT Marketplace: What’s in a starter pack?

Crypto Wallet – A Whitelabel NFT Marketplace should have a crypto wallet that can support a variety of cryptocurrencies and NFTs from different blockchains.

Storefront – Such a prefab platform should have a live storefront that displays details of NFT assets listed for sale on the marketplace.

Smart contracts – Smart contracts in a ready-made NFT marketplace solution can help process NFT sales transactions quickly and securely between users.

Auction Portal – In such a marketplace, the auction portal can be beneficial to enable potential buyers to bid on NFT items and know sale updates.

Administration Portal – The administration portal in a Whitelabel NFT marketplace application can be useful for marketplace administrators to get analytical data and moderate NFTs before listing.

Seller portal – Such a platform also has a portal for sellers where they can access data relevant to the sale of NFT assets and other statistics.

Search Engine – Another must-have in any NFT marketplace, search engines help users find their favorite NFT collections faster.

Filter/Sort Options – These options help users refine their search for NFT collections that match their type and cost preferences.

Business benefits of a ready-made NFT Marketplace platform

While the NFT marketplace platform business model itself provides many benefits for businesses, launching it from a Whitelabel solution only adds to the goodness. As always, a ready-made NFT marketplace solution can be easily launched while incurring financial costs.

The platform is also highly customizable to suit a business’s needs, which also offers a degree of uniqueness to businesses.

Also suppose that a company wants to have an NFT marketplace similar to an existing platform (example: OpenSea). In that case, a Whitelabel solution built based on OpenSea’s code can be modified accordingly to suit the needs of the business.

How viable is a Whitelabel NFT marketplace in the future?

While the global NFT market growth is expected to return to a different level in a few years. The increase in start-ups choosing to opt for the NFT market model is also expected to grow.

Such levels of enthusiasm mean that Whitelabel NFT marketplace solutions will be in demand for at least a few years to come as Web3 slowly becomes mainstream.

For some experts, the possibility of ready-made NFT marketplace solutions will remain even after Web3 becomes mainstream, as there will always be aspiring entrepreneurs who will not have enough resources or time to implement funding. Adding experimental startups to the list only increases the demand for such solutions.

Final thoughts

Therefore, the use of ready-made NFT marketplace solutions (check out blockchainappfactory dotcom) has become widespread among small-scale enterprises trying to make a mark in the Web3. The fact that many startups are striving to make an impact in the NFT space supports the need for customizable Whitelabel NFT marketplace platforms.

If you want to run an NFT marketplace based on any genre and you want to capitalize on the trends, it is always best to choose a ready-made NFT marketplace solution.

Such platforms are available with experienced NFT marketplace development firms that can start your business quickly at reasonable prices. Take advantage of such an easily accessible NFT marketplace platform to gain immense recognition in the Web3 world.

Featured Image Credit: Provided by the author; Thank you.