FAQ
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.
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.
Build a digital marketplace where artists can register their works and sell them at a price. All transactions are secured by blockchain technology.
Create an NFT marketplace where collectibles and other digital assets are bid in auctions rather than sold at a fixed price.
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.
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.
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.
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.
Since only one or a limited number of copies are present in cyberspace, each NFT is relatively scarce, rendering it more valuable.
Every item that’s minted as an NFT has a unique token and identity. This makes it more special to own one.
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.
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.
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.
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.
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:
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 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.
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 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 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 is a cross-platform NFT marketplace that lets people purchase and sell NFTs across NFT platforms.
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.
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:
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, 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.
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.
Our Rarible clone script is embedded with several security features to ensure that the NFT marketplace is safe from hacking and phishing attempts.
We will deliver the NFT marketplace as quickly as it can be finished with the customizations you require.
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.
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.