Enormous Growth of NFT
NFTs are the digital license that usually aids in claiming the ownership of any digital asset. The NFT gold rush is still in full swing. In 2020 the NFT sales were about $82.5 million, and, also it saw a great hike in just a year.
In 2021 the entire NFT sales peaked up to $17.7 billion. Most crypto pundits predict that the sales volume may go even higher. NFT-related business models are gaining serious attention from crypto folks across the globe.
In such a way, NFT marketplace development is one viable business model that has gotten thumbs-ups from businesses and, entrepreneurs. Every NFT marketplace has its distinct benefit concerning its blockchain ecosystems.
In this blog, we’ll be covering one such blockchain, which will overcome the issues that were appearing on other blockchains and, create a record of $25 million in sales in just two months, which was named Binance Smart Chain (BSC),
Continue reading this blog to learn more about building an NFT marketplace on BSC can be considered a high revenue-generating business concept.
A Short Intro to Binance Smart Chain (BSC)
Binance Smart Chain is a leading blockchain network in the crypto space. The blockchain was mainly created to initiate smart contracts for decentralized applications (dApps).
BSC operates along with its native blockchain known as “Binance Chain.” The main features present in BSC are – High transaction speed, cross-chain compatibility, low gas fees, and, Ethereum Virtual Machine (EVM) compatibility. Due to these exclusive features, NFT Marketplace over Binance Smart Chain seized the attention of businesses.
Why to Develop the NFT Marketplace on Binance Smart Chain?
Network congestion is one of the key issues in choosing BSC NFT marketplace development. Users pay very high gas fees for transactions due to this issue.
The Binance smart chain blockchain network rectifies this threat and, offers users low transaction charges and, also high-speed transactions. In this way, users experience a hassle-free trading experience.
Binance Smart Chain NFT Marketplace Development
Scratch method vs. White Label Solutions
You are left with two options to develop your NFT marketplace on BSC – 1. Developing the platform from scratch and, also 2 Using white label solutions to build your marketplace. If you are a company that can spend money developing the platform from the ground up, you can go with the first option.
If you are a budding entrepreneur who needs a budget-friendly plan, the second option fits you. A white label NFT marketplace on Binance Smart Chain is a ready-to-launch solution that cuts short the long development process.
The major attraction of this solution is that it is fully customizable, and, also one can add more features to enhance the marketplace platform. Teaming up with a reliable NFT marketplace development company could be rewarding, and, also they incorporate your platform with features that perfectly match your business requirements.
Must-Have Features to Include in an NFT Marketplace on BSC.
If you are a company or an entrepreneur who has plans to develop an NFT marketplace on BSC, you must have clarity on the features that have to include in your platform.
List of NFT Marketplace Features on Binance Smart Chain
Captivating storefront
The feature allows buyers to learn complete details about the digital collectibles listed on the platform. The information includes ownership info, pricing history, bids, etc.
Advanced search bar
The feature enables buyers to specify their search by exact note in the category of digital collectibles.
Filters option
Users instantly reach out to their desired assets with the help of this feature. The filter option helps in reducing the searching time for an asset.
Integrated Wallet
It’s an essential feature present in BSC NFT Marketplace and, also assists traders to deposit their cryptos to initiate the trading process.
Bidding History
This feature allows traders to view the complete summary of bids settled for any particular collectible.
Listing Collectibles
Sellers (NFT creators) list their NFTs on the BSC NFT marketplace by mentioning the asset’s title, tags, and, also description.
Security Features
Get rid of threats like bugs and, also other issues present in the Binance Smart Chain NFT marketplace with this feature.
Closing Thoughts
The exact timeframe to create an NFT marketplace on BSC depends on many factors like features, tech stacks, the complexity of the project, and more.
NFT Marketplace Development on Binance Smart Chain involves different works based on development and, also deployment. By collaborating with a reliable NFT Marketplace Development Company, you can address these issues professionally.
The firm’s developers create a robust NFT Marketplace on Binance Smart Chain. They integrate state-of-the-art security layers and, also advanced features to improve the user’s trading experience.
Do some market research and, also get in touch with the best NFT marketplace development firm in the market and make your business concept become a reality in a short period of time.
