There’s never been a better time for NFT Marketplaces

Since 2107, there’s been a steady rise in the popularity of blockchain technology and cryptocurrency-based applications. Over the last two years, NFTs, or non-fungible tokens, have enjoyed an exponential increase in interest and demand. NFT marketplaces such as Rarible and Opensea have had a surge of investments, thanks to their promising revenue. We can help you build a marketplace that can be a part of this revolution.

Choose from diverse NFT marketplace solutions

A General NFT Marketplace

Build a digital marketplace where artists can register their works and sell them at a price. All transactions are secured by blockchain technology.

Auction-based NFT Marketplace

Create an NFT marketplace where collectibles and other digital assets are bid in auctions rather than sold at a fixed price.

An NFT Marketplace for Real-World Assets

Why limit the scope of NFTs to digital works? You can monetize real-world assets such as land with the NFT marketplace, resulting in greater security and control over subsequent transactions.

What are NFTs?

NFT stands for non-fungible token. It refers to digital goods and collectibles that have been minted into a particular blockchain with a unique token identifier. The assets are usually up for sale. The token remains permanent regardless of subsequent resale or value change.

Why are NFTs significant?

Although blockchain technology has been around for a while, their application in the form of cryptocurrency was fungible, that is, it did not create a distinct identity for every item. This is why non-fungible tokens are considered promising. In this ecosystem, all goods carry unique identifiers with the help of digital tokens. This helps prevent privacy and duplication, and facilitates tracking the movement of digital goods.

Salient Features of Non-Fungible Tokens

01

Indivisibility

An NFT token cannot be further split or replicated. For example, a ticket to a concert cannot be shared by two people. The same is the case with NFTs.

02

Scarcity

Since only one or a limited number of copies are present in cyberspace, each NFT is relatively scarce, rendering it more valuable.

03

Uniqueness

Every item that’s minted as an NFT has a unique token and identity. This makes it more special to own one.

04

Ownership

All NFT transactions are recorded on a decentralized distributed ledger, secured over a blockchain network. The creator of the digital work holds the key to its token and retains the exclusive rights over its transfer.

05

Transparency

As NFT transactions happen via a distributed ledger technology, the issued tokens are recorded. These records are public and can be viewed prior to buying an NFT to verify legitimacy.

06

Interoperability

An NFT can be purchased or sold across marketplaces, and the sale will still be associated with the good’s unique token. This is possible due to transactions occurring over a decentralized bridge.

RARI - A Community Governance Token Issued on Rarible

Popular NFT marketplace Rarible issues governance tokens called RARI to its active creators and buyers. RARI is meant to enable a more user-focused, participatory platform that will facilitate democratic decision making on key reforms and guidelines. The token can also be used to sell or buy digital assets through the platform.

Other Prominent NFT Marketplaces

With NFTs enjoying a huge surge in popularity, several marketplaces have opened up in recent times. They differ on various parameters such as their minting cost, asset niche, entry barrier, blockchain technology platform and type of transactions allowed. Here are a few prominent ones:

OpenSea

Considered as the eBay of blockchain technology, Opensea is the largest NFT marketplace that is open to all kinds of creators. Anyone can buy, sell, or trade with anyone else from across the globe. Over 4 million items are currently listed on OpenSea.

Axie Infinity

Axie Infinity is a Pokemon-like game universe. Users can buy unique, limited-stock digital pets and use them in any game belonging to the Axie universe. In this player-owned economy, players can also sell their pets in auctions.

Decentraland

In this NFT marketplace, users can create virtual places and properties from scratch and mint them as NFTs. One can purchase land, houses, monuments and even entire cities. It attracts several architecture enthusiasts.

Gods Unchained Clone

Gods Unchained Clone is a platform over which gamers can exchange virtual cards as NFTs. Each card is unique. The cards are minted, owned and traded over the Ethereum blockchain.

Sandbox

Sandbox deals exclusively with virtual real estate tokens such as lands, towns, cities, etc. One can buy or sell these NFTs for a price.

Ghost Market

Ghost Market is a cross-platform NFT marketplace that lets people purchase and sell NFTs across NFT platforms.

How Will The Rarible Clone Work?

The Rarible-like marketplace that we develop with our Rarible clone script will function similar to an e-commerce platform or a real-world marketplace, except that it will be integrated with blockchain technology and NFTs. A creator can upload and register their digital creations. After they are minted onto blockchain, the assets are listed for sale.

Interested buyers either make a purchase at the offered price or propose a price to its creator. On consensus, the NFT is sold and the token is transferred from the creator to the buyer as proof of purchase. All subsequent transfers of the property are recorded. Sometimes, the creator is also entitled to a royalty everytime the art changes hands.

Why Investing in an NFT Marketplace is a Smart Decision

The applications of NFT and the demand for them are surging quickly. Several industries such as art, gaming, fashion, finance, music and real estate have begun to tokenize their assets. Others are beginning to experiment with the enormous potential to apply NFTs for various benefits. Let us consider two domains that hold rich applications for NFTs:

Gaming

The gaming industry was always ripe for a disruption in the form of NFTs. Gamers often make several in-game purchases. With the help of unique tokens assigned to these purchases, they can use these NFTs across games. They can now also buy and sell their game assets without the need for financial intermediaries. As different games are built over different platforms, the presence of a common cryptocurrency system is useful. If you want to build an exclusive marketplace for gamers, our Rarible clone will serve you well.

Art

Art, too, holds immense scope for technological disruption. Most artists rely on intermediaries such as a dealer or curator to sell their art. Although the Internet made it easier for them to directly reach a customer, certain challenges remain: for example, they hold no ownership rights or royalty if their art is resold. These problems are solved with an NFT marketplace.

When an artist uploads and mints their creation as an NFT, they are forever designated as its creator. Further, they receive a small royalty everytime the art is resold.

As a marketplace, you too earn a commission on each sale. If supporting artists and earning money in the process sounds good to you, we will enable it for you with a Rarible-like marketplace.

Ready to build an NFT Marketplace like Rarible?

Why Choose Uberdoo to Develop a Rarible Clone?

Hands on, experienced team

We have on board several experienced professionals adept at blockchain technology. Since it’s a quickly evolving field, we ensure we are constantly updated and aligned with what’s happening in this domain.

Emphasis on security

Our Rarible clone script is embedded with several security features to ensure that the NFT marketplace is safe from hacking and phishing attempts.

Timely completion

We will deliver the NFT marketplace as quickly as it can be finished with the customizations you require.

24x7 support

We understand there is a learning curve to managing the initial phase of running a blockchain-based marketplace. Trust us to support you and troubleshoot any queries round the clock.

The technology stack we use to create Rarible clones:

  • Protocols
  • ERC Standards
  • Smart Contracts
  • Dapps
  • Smart Contract Auditing Tools

FAQ

Do you work on ERC-1155 standards?
Will you provide for utility tokens along with the Rarible clone?
How are fungible tokens different from non-fungible tokens?
What types of NFT marketplaces do you offer?
Will the Rarible clone exclusively cater to digital arts?

No, that’s up to you and your business goals. We can customize the marketplace with our clone script to include any type of digital asset.

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