White label NFT marketplace development process
Usually, before owning a product, we would analyze the way a product is developed. In the same way, looking at the step-by-step process by which a white-label NFT marketplace is developed by the developers will give us the perfect understanding we need before possessing it.
Analyzing the Requirements
Now imagine yourself in the developer’s shoes. What would you do, before starting a project?
Obviously, you would analyze the needs which should be fulfilled by your platform. You would have a look at your competitors, consider the expectations of your target audience, and use the latest technology in the network.
Similarly, the main criteria developers consider before drawing a conclusion are
- The intended customers
- The blockchain technology to use for tokenization
- Features to enhance the user experience
- User expectations
After deciding on the plan, we must start on the looks. Always the presentation matters the most right? For a user to return to your platform, he/she must find it appealing and easy to use.
Therefore, paying attention to developing an attention-grabbing UI is a must for arriving at an outstanding NFT marketplace So, the developers try to create a unique and stunning look for the platform.
First, they develop a wireframe to determine the structure of the platform. Then they give a visual representation of the UI elements of the marketplace using a style guide.
Smart contracts development
You know the fact that no one’s watching over the transactions in the NFT marketplace, as the smart contracts are used to ensure fair trading. But, do you have any clue how smart contracts are created?
Solidity programming language is used in implementing smart contracts on the blockchain network and these contracts can be used for minting NFTs in the marketplace.
Way to go automation!
Features of the NFT marketplace
Over with the look and math, next comes the keys for usage. Giving the users an ease of access to your marketplace is really important, as this has the highest chances of making yourself their favorite.
Come on! Who wouldn’t like an attractive marketplace with all the key features?
The eight such important features of an NFT marketplace are Storefront, Token search, Filters, Listings, Status of listing, Bidding option, wallet, and ratings.
The technical part binds all the other parts together. Let’s see about the programming languages used for the white label NFT marketplace development.
NFT Standard – Token standards like ERC721 or ERC1155 are used for token development in the marketplace. This token standard will determine the blockchain network for your white label NFT marketplace.
Storage platform – After minting, we apparently need to store these tokens. A storage platform like IPFS ( Interplanetary File System) can be used for this purpose.
Backend and Frontend Technology – Tech stack like Node.js, React.js, and MongoDB is used to create the robust white label NFT marketplace.
Testing and Launching
After the technical part is done and the platform is complete, the testing begins. Testing makes sure that the marketplace is free from bugs and functional defects. It’s nothing but a bunch of tests running on the products to test their perfection.
Once the developers know that the marketplace is flawless, they deploy it on the client’s server and make it live for the users.
This whole process creates a reliable white label NFT marketplace development solution. Such a huge process, right?
But, there are many white label NFT marketplace development solutions available in the market. How to find out if the solution has gone through all these steps? How to know if it is a reliable solution or not? And, that is the trickiest part.
Things to consider before you choose the white label NFT marketplace solution
When it comes to white label products, there are too many available in the market, making it difficult for us to choose. They all have this awesome demo that would sweep you off your feet. But, does it really work like their demo? That’s the real question.
Let’s have a look at the factors to consider while picking up a white label NFT marketplace for their business.
Coding architecture is the statistical method used to design software. To have a flexible and customizable marketplace, the coding architecture must allow us to add or remove any components to our marketplace in the future.
If it’s not adaptable, then it won’t be of greater use in the long run.
No Third-party dependencies
A white label NFT marketplace is a decentralized platform that eliminates intermediaries. Thus, the white label NFT marketplace development should stay clear of any third-party dependencies.
Anyone can sell a white label NFT marketplace platform. But, how many are developing it on their own? How can a company serve you post-buying when the company itself doesn’t have the absolute knowledge of its product?
I hope you can see the problem here if you pick the wrong company that just sells a solution that they got from other sites. They won’t even deliver it properly, only will customize it. So, try to know the roots of the organization that you are going to trust your business with.
Cheap price traps
When you create something, you would know the effort you put in and it’s true value. Will you ever give such a thing up for a price that is nearly free? I know you can guess where I am going with this.
Yes, You won’t sell months and months of your team effort for an unreasonable price. Because a good craftsman can never settle for anything less. So if the cost is cheaper, then obviously the seller didn’t put much effort into the product. Such products bear more harm than good. So, stay clear of cheap solutions.
If these are the things to avoid, then what are the things to look for in the white label NFT marketplace development solution? And, who offers such a solution? Let’s get it sorted.