We often hear the terms NFTs and Blockchain technology in parallel. However, are you aware of their correlation? Well, NFTs are created and introduced in the Blockchain network similar to Bitcoin and Ethereum. Along with sharing the same platform, they are valuable digital assets that can be traded globally.
Collaterally, the Marketing industry is embracing these NFTs with open arms. From contemporary culture to modern fashion, luxury, cuisine or real estate, NFTs have invaded the minds of the marketers with novice marketing concepts. From the time we recovered with traditional marketing tactics by the wave of digital marketing, we in the blink of an eye are witnessing another leap in the marketing world with NFT advertisement.
Exemplifications of NFT in the marketing industry
The fashion giants like Gucci and Nike are the forerunners of NFT based marketing for the year 2022. Did you know? The Italian fashionista company, Gucci, released NFT sneakers under the section “virtual25” for their marketing campaign. Other than this, Nike conducted auctions of footwear on the NFT bandwagon to attract customers.
Moreover, the international luxury brand, Dolce and Gabbana set the NFT line worth 6.6 million euros for 9 garments and jewellery.
As NFTs are scarce and are a newbie concept, the NFT artists and NFT passionates can flourish under the realm of Blockchain technology offering myriad opportunities in the digital era.
Bandwagon NFTs expressing limitless possibilities
Blockchain technology is versatile in itself and is still in the infancy stage. No one can predict at the moment which technological breakthroughs are awaiting mankind. You might have heard about the term Metaverse- augmented reality- occupying the headlines. But, did you imagine the incorporation of these non-fungible tokens into the virtual world? Yes, it is now possible through the cutting-edge blockchain technology that thrives on a decentralized network.
Fact check: As per the data by PWC, a burst in the augmented reality global economy by 1.4 trillion pounds in 2030 is in the pipeline!
Proponents believe that the complete VR technology would be based on NFT development and backend by Blockchain technology.
What role does the NFT marketplace play?
Similar to the currency we store in our wallets in a physical form, NFT marketplace development is a unique platform to store NFTs at a fixed rate. These NFTs which possess exclusive ownership could be traded from a decentralized platform operated under Blockchain technology. Hence, NFT marketplace development is a must for NFTs artists and NFT enthusiasts.
Review NFT marketplace benefits
Most of the NFTs are run on Ethereum Blockchain technology and hence it fetches its versatility and lightning speed. Some of the benefits are mentioned below:
Immutable and transparency
Distributed on a Decentralized network
Secured like none other
Structuring- NFT marketplace Development
Now that we gather information and statistics about the NFT marketplace and its implications. We are now ready, to begin with, its development procedures. As Blockchain technology is a recent addition to the IT sector, choosing an NFT marketplace development company should be done under careful measures. NFT marketplace development companies assist businesses to carve marketplaces for one-stop NFT solutions.
If you got an NFT marketplace development company and are confused about which NFT marketplace development company could play the trick for your business, you should consult Webllisto technologies which render an array of Blockchain technological solutions under their realm.
Refer to Webllisto’s NFT Marketplace Development procedure below:
Brainstorming the concept of NFT
Do you have an NFT marketplace development project in mind? Is your idea raw? Weblisto’s consultant team of NFT marketplace experts are at your service. You can share your idea in confidential terms to sit back and relax for the NFT marketplace adventure. Your newborn idea is nourished by proper research and statistics to grow at its highest potential.
Choosing the best Blockchain network
As of today, the ever-evolving Blockchain technology has bestowed us with many Blockchain platforms with pros and cons. However, choosing the right Blockchain network is the key to a successful NFT marketplace development. Mainly, the majority of the NFT marketplace today are being structured on the Ethereum Blockchain and the cryptocurrency mandatory to deal in NFTs is Ether.
Designing the NFT marketplace
Next, you can schedule a meeting with our team to discuss the design ideas for the NFT marketplace development that should be simple, user-friendly yet interactive for the users.
Front-end development
After finalizing the design aspect comes the front-end development. A pioneer Blockchain Development company like Webllisto technologies can guide you like no other. For the development of the marketplace, enhanced functionality and user interaction should be assessed.
Smart contracts development
Now comes the legal aspect of NFT marketplace development. For this section, our team discusses the NFT standards to be implemented to bring in the automaticity and sign the contacts digitally to kick start the NFT marketplace.
Testing
The sensitive part of the NFT marketplace development points to the testing measures. We ensure a glitch-free performing marketplace for smooth functioning.
Deployment
The wait is finally over! We are ready to deploy your project after satisfactory trial and testing.
It is time for the business to shift their paradigm into the world of NFTs knowing their future prospects. Blockchain Development Companies like Webllisto technologies are here to thrive with breakthrough technologies for mission-driven businesses.
Tag: Blockchain development company, Cryptocurrency wallet development, Solana blockchain development, and blockchain consulting firms
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