Guide to Launch NFT Marketplace Like Enjin

Date:

NFT Marketplace are getting the most attention recently from artists, designers, architects, sports stars, singers, actors, photographers, and meme creators. NFTs offer exclusive rights over a digital asset or any other assets etched on the blockchain. This is not only attracting a crowd of NFT creators but also collectors. People in the olden days never knew the art they create will cost millions of dollars in the future. Ancient vessels which were used as cookeries are now artifacts saved in museums. The world is getting digitized, cryptocurrency is getting an image of global currency and NFT Marketplace are the new collectibles now. This has smashed the door opportunity open for young creative minds and entrepreneurs to get into the world of blockchain.

One of the potential investment opportunities that have been eyed by many experienced tycoons is the NFT marketplace development. Though there are many NFTs being minted in various genres, there are still few marketplaces to enjoy trading them. Ethereum is a go-to blockchain for NFTs and has very few efficient marketplaces. Here is a quick guide for entrepreneurs on launching an NFT marketplace like Enjin.

Why is Ethereum the go-to blockchain for NFTs?

It is estimated that the total value of NFTs and De-fi locked in the Ethereum network is 156 billion USD, which is equal to the value of 10 rival blockchains in the industry now. Did you know, that almost 95% of the NFTs are living in Ethereum now and only 5% are in the other blockchain networks combined? A number of blue-chip NFTs or in other words NFTs that are gaining a rise in their value in time are blooming in the Ethereum network.

While it has its own challenges like high transaction costs and high congestion in the networks, there are upgrades coming up to eliminate this. A new network upgrade called Shrading will be able to provide more space in the network eradicating the congestion and hoping to reduce the carbon footprint to 99.95% in the near future. This makes it an ideal network for NFTs in the present and in the future. 

Enjin – the Universe of NFTs

Enjin is a robust NFT marketplace built on the Ethereum blockchain network. It offers the users to trade rare and unique digital art collectibles to NFT gaming collectibles and digital fashion accessories. It is to be noted that over 3 million digital assets have been traded in Enjin making it one of the best NFT marketplaces on the Ethereum blockchain.

Also, It is possible for the NFT gamers out there to trade the NFT tradeable they earn in the game in Enjin and use their new NFT items in their games. This enables the users to use the items in multiple worlds making it a futuristic scalable and adaptable platform. 

Development solutions for an NFT marketplace

Entrepreneurs think it is a challenging process to start and develop a platform on the blockchain network. It requires a dedicated team with an updated tech stack and expertise and years of experience in the blockchain network. It is important to have deep market research and perfect ideation for the project before taking the first step. There should be a series of testing phases to check for bugs and glitched in the platform so that you get a perfect outcome. It is possible to develop an NFT marketplace using two methods.

  • Traditional development process- You develop the platform from scratch. You start from backend development, security features, database development, front end development to UI design. This is a time-consuming process that needs a lot of resources and professionals to make a perfect marketplace
  • White-label development process- You customize an existing clone script, in this case, the Enjin clone according to the requirements. This white-label solution is a pre-developed script with all the basic features and workflow. You can customize the script to any extent right from the features to UI design. This takes a few weeks, and fewer resources to complete the process.

In both the methods it is important to select the right developer to entrust to develop your NFT marketplace like Enjin. It is important to look into their previous projects in the blockchain field, their experience in the blockchain industry, and their expertise in the development process. 

During the development process

Now that you are ready with ideation, innovation to insert in an existing clone script, and a UI design, concentrate on the following features. 

Discover, trade, and collect are the three main functions of an Enjin clone. Since the industry is attracting a lot of new creators and collectors to the field, it is crucial to make it beginner-friendly. A cozy and comfortable user interface will offer a better user experience which in turn attracts the newbie crowd. 

  • Discover- Categorize the NFTs in various genres. Though the scope of NFTs is vast, it is important to have some basic categories so that the user can easily find the NFT they want. It is also important to have an optimized search filter that can provide quick search results. Some example genres you can consider are
    • Digital art
    • 3D 
    • Fashion
    • Photographs
    • Gaming
    • Videos
    • PFP
    • Trading cards
    • Digital designs
  • Trade- facilitating a hassle-free trade is essential. The users should experience easy and quick transactions. It is required to have fiat payment modes. Native token development must also be taken into account as most of the NFT marketplaces operate on their own native crypto token or coin
  • Collect- Wallet integration is the next important step. Some marketplaces have their own wallets while others allow the users to integrate their existing web 3.0 wallets like Metamask, Coinbase wallet, etc

Takeaway

NFT Marketplace like Enjin can create a new ecosystem as NFTs are inevitable pillars of Metaverse. Metaverse on one side using NFTs and evolving as the next-generation technology. While you get ready to launch your NFT marketplace, take a wider perspective as there are many entrepreneurs turning their focus towards the Metaverse NFT marketplace. Enjin clone script can offer a wide range of opportunities for customization making itself the perfect solution to quench your blockchain dreams. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

How Selçuksport is Revolutionizing Fitness

In the steadily developing wellness universe, Selçuksport has arisen...

Drought-Resistant Landscaping: ChoosingTrees and Shrubs That Thrive in Mesa’s AridClimate

In the heart of Arizona, Mesa is evidence of...

The Top Three Health And Wellness Benefits Of Taking Sea Moss Supplements

Sea moss, which is also known as Irish moss...

The Ultimate Guide to HDMp4Mania

Torn between Bollywood's latest hit and the adrenaline-pumping WWE...