White-Label NFT Marketplace Development

Since the first NFT was generated by Kevin McKoy in 2014, this token type has acquired immense popularity and many use cases. NFTs are stored as digital assets of monetary value, investments, and means of unique ownership protection. In 2021, users spent $41+ billion on NFTs, with the major portion of expenditure related to P2E gaming. Today, the volume of NFTs sold every week steadily exceeds $10-$20 million, with over 250,000 active artists and NFT traders on platforms like OpenSea. 

Thus, given the favorable momentum in the NFT market, you might be thinking about launching your own project in this niche. The good news is that such a platform shouldn’t cost your business a fortune, as you can save on development costs and cut the development time by 2-3 times with a white-label NFT marketplace option. Here we walk you through the concept, explain how it works, and give you a step-by-step guide on launching your profitable NFT business with this solution.

What Is a White-Label NFT Marketplace? 

Let’s start by defining a white-label NFT marketplace platform. It is a ready script that contains the majority of generic NFT marketplace features and provides an architecture for your low-effort customization. Thus, the white-label marketplace is a ready-made draft version of a functional platform that you can customize by adding or removing the pre-built features and experimenting with its design.

How Do White-Label NFT Marketplaces Work? 

This solution works the same way a regular NFT marketplace would; the only difference is in the development process, its speed, and its cost. 

• NFT artists can register on the platform and mint their NFTs, putting them on sale for a fixed price or on the auction principle. 
• NFT buyers register on the platform to scan the available catalog and buy NFT assets. 
• NFT traders can also join the resource to pick the NFTs with good investment potential and then resell them for a fee.

Building an NFT Marketplace from Scratch vs. With a White-Label NFT Platform Solution 

When choosing between a custom-built and white-label NFT marketplace, you may reap the following benefits by choosing the latter: 

• Cheaper development. The white-label platform already has much of the work done and pre-configured for the NFT marketplace’s functioning. Thus, you will save money on building the core features of such software. 
• Quicker launch. With the core architecture and some handy features in place, you can save time and launch the best white-label NFT marketplace quicker than your competitors, thus grabbing a great share of customers before others manage to do that.
• Extensive customization. White-label software usually comes with a great variety of templates and design variants to let you experiment with the front-end and design an NFT marketplace your users will love.
• Wide range of pre-built tools. Many features are already built into the NFT platform, so you won’t require extra resources for their creation and setup.
• Scaling potential. White-label software possesses a scalable architecture that won’t cause you trouble, whatever the speed of your business growth is.

Key Features of White-Label NFT Marketplace 

A white-label solution usually comes with a pre-built set of features sufficient for trouble-free marketplace operation and coverage of all actions users might want to conduct with their NFT assets. 

• Login and sign-up functionality for new and existing users.
• User profile.
• Wallet linking.
• NFT storage.
• Diverse marketplace features for buying and selling NFTs, filtering the available items, subscribing to specific artists, and viewing the user’s wallet.
• Admin dashboard features (collection creation, NFT minting and burning, KYC features, payment provider information, auction settings).
• Auction functionality (auction creation, editing, bid placement, NFT claiming after an auction sale).

The Benefits of a White-Label NFT Marketplace 

Investing in a white-label NFT marketplace is wise because it allows jumping into the fast-moving train of the NFT industry with minimal time to market and expenditures. You save a considerable portion of costs on the design and development of your platform’s core features and, at the same time, can tweak the design the way you please so that it looks unique and reflects your brand identity.

Besides, white-label NFT marketplaces are scalable and manageable, with the standard set of instructions and controls you should explore. An agency providing a turnkey white-label product may train your staff to operate it, thus minimizing the learning curve and ensuring your project is up and running within a record timeframe. 

Finally, monetizing this project is pretty easy, as you already get a functional NFT marketplace that will yield you stable revenue in the form of user commissions, fees from the platform’s use for NFT creation and burning, and built-in commercials and partnerships with crypto brands.

How to Launch an NFT Marketplace with a White-Label Solution? 

Here are the key considerations and steps for starting out with an NFT marketplace venture: 

• Select the blockchain on which you want your NFT marketplace to operate.
• Find an agency providing a white-label solution for this blockchain (or opt for a cross-platform solution). 
• Design a unique front-end style for your platform to make it user-friendly and attractive. 
• Set the commission fees. 
• Choose the wallets that users can link to the NFT platform.
• Launch the resource and build a community around it.

Why You Should Use White-Label NFT Marketplace Solution by 4IRE 

4IRE is a seasoned and competent provider of white-label NFT marketplace development services. We also have a proprietary white-label solution with the following advantages:

• A solution following all industry standards.
• A core development team with in-depth expertise in NFT marketplace development.
• Tried and tested white-label NFT marketplace software following the best industry practices.
• All NFT standards supported (ERC-1155, ERC-721).
• Custom value addition during NFT minting (properties & metadata).
• Multi-currency support (you can add various ERC-20 tokens for on-site payments).

Thus, working with us gives you a time-proven solution for a hassle-free NFT marketplace launch without unpleasant surprises or technical limitations.

Why You Need to Start Your Own White-Label NFT Marketplace 

Now that all technicalities of working with a white-label NFT marketplace solution are covered, let’s recap why this business might be of interest to you. Just imagine how much potential this industry has if renounced luxury brands like Nike, Adidas, and Gucci are launching their NFT collections, with new giants entering the niche every day. Even Coca-Cola has its NFTs, one of which was sold in 2021 for $575,000+. Thus, it’s obviously a sector worth considering, and 4IRE can become your trusted partner in this undertaking.