The Rise Of Non-Fungible Token

The digital market has been in an incredible revenue-generating flow for the past couple of years, this is mainly due to the introduction of NFTs. A non-Fungible Token, also known as NFT, is a digital asset or a digital representation of an asset. NFTs holds a unique value for the digital assets, thus it allows the user to trace back to its owner. Since NFTs are decentralized, they cannot be replicated or destroyed, hence making it very secure and safe for the users to invest in them. NFTs can be bought and sold in decentralized exchanges, but NFT Marketplace is the commonly used exchange platform for the selling and buying of NFTs. NFT Marketplaces are built on the blockchain network, thus making the transactions safe and secure for the users who are interested in trading NFTs. There are several divisions of NFT Marketplaces; open platform, exclusive platform, and open protocol.

Different Classifications Of NFT Marketplaces


The three primary classifications of NFT Marketplaces

Open Platform

In open platform marketplaces, the user can trade any type of NFTs on the platform, such as music files, audio files, video files, artwork, etc. The common examples of an open platform are Rarible, and OpenSea.

Rarible

Rarible is a new type of NFT Marketplace that is built on blockchain technology. This blockchain technology protects and secures digital collectibles stored in the platform. Rarible marketplace has registered itself as one of the best efficient marketplaces for securing digital assets and art by using blockchain. Rarible uses its own ERC-20 based governance token called RARI, which enables the collectors and creators to vote on multiple upgrade platforms.

OpenSea

OpenSea is the first decentralized NFT Marketplace platform, founded in 2018. OpenSea is the commonly used platform in the digital market for buying and selling of NFTs. Since it is an open platform, almost every type of NFTs can be traded, sold, and bought on the platform. The digital assets that are popular in this marketplace are artwork, game items, collectibles, digital representations of physical assets, domain names, etc.

Exclusive Platform

As the name suggests, these types of NFT Marketplaces are exclusive types, only a particular type of digital assets can be bought and sold on the platform. The most common marketplaces that occur under this category are Foundation, Nifty Gateway, and SuperRare

Foundation

Foundation was first launched in February 2021 and it has already become a huge success, this NFT marketplace is primarily built for the trading of digital art collectibles. It is a creator-first-based platform. It allows artists to select and invite other artists to join the site for minting NFTs. Collectors have the power to browse artworks and initiate an auction.

SuperRare

SuperRare is a mixture of social media platform and an NFT marketplace platform. It is a peer-to-peer marketplace platform that’s built on Ethereum. This marketplace specializes in trading digital artworks. All transactions are initiated using ether, the native cryptocurrency to the Ethereum blockchain that powers the marketplace.

Nifty Gateway

Nifty Gateway is a premier NFT marketplace, which is also called Nifties. Nifty Gateway was created with the purpose of making them accessible to all audiences. Nifty Gateway marketplace’s prominent rise was due to teaming up with top brands and artists, creating limited edition Nifties that take place every three weeks.

Open Protocol

The open protocol is a classification of NFT marketplaces where it is concentrated on forming a wider audience and network effect of initiating transactions in NFTs. The common type of open protocol for a marketplace is, Zora.

Zora

Zora is a protocol formed for the Ethereum blockchain. It establishes perpetual markets in the form of ERC-721. Every piece of the media is embedded with the market that consists of a transparent pool of bids. Each market is said to be unique to the piece of media and anyone can inspect the bids. The platform owner can choose to set a fixed price for the media, which is a suggested bid that can undergo the execution process by a buyer.

Construct Your SuperRare NFT Marketplace


We at Blockchain App Factory specialize in building NFT Marketplaces with high efficiency and at an economical price. We have built numerous NFT Marketplaces with popular marketplaces as a reference and delivered them to our customers. Every customer has unique customization and specification for his/her marketplace, we analyze them and deploy the best marketplace. We provide SuperRare NFT Marketplace Development services to our customers who want to develop an NFT Marketplace like SuperRare.

What Is SuperRare Marketplace?


SuperRare is a marketplace that is built on the Ethereum blockchain. SuperRare is an exclusive type of marketplace, only digital artwork collectibles are traded in this marketplace. SuperRare is an integration of both marketplace platforms and a social networking platform. The users in this marketplace can post their digital artwork and the other users can like, share and comment on the digital artwork. This type of interaction causes the users to expose more of their content and attracts a greater audience group. The transactions in this marketplace are made by ether, which is the native cryptocurrency of the ethereum blockchain.

Workflow Of SuperRare Marketplace

SuperRare is a combination of a decentralized social network and an NFT marketplace. This marketplace possesses various features that are similar to a basic social media platform which provides a comfortable user experience and also allows the user to navigate at ease. The landing page is the most vital section in the SuperRare marketplace where it displays the Top Collectors, Top Artists and Largest Collections feed, presenting the most activity from the marketplace website.

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Components Of SuperRare Marketplace


SuperRare provides a simple and sophisticated graphical user interface (GUI) presenting a list of unique components on the platform.

Features Page

The features page provides an exciting space for artists to showcase their digital artwork. Feature page provides the opportunity for artists to present their talent by presenting their artwork in the form of images and videos for attracting potential artwork investors.

Activities Page

The activities page is a news feed page where it displays the information regarding the NFT artists and the buyers on the platform.

Market

The Market section is the place where the primary activities of the marketplace take place. The users can discover their desired NFT artworks that are available on the platform. The market provides the user with the ability to filter the searches based on their interests. They can find out whether the item has a list price or an open offer or whether the artwork is initiated in an auction. The users can also filter their searches with the age of the NFT, end date of the auction, and the preference of price.

Community Tab

The community tab represents a list of SuperRare social media networking platforms. This tab features daily updates and activities of different NFT artists. SuperRare Editorial is the driving force behind this community tab and it is the best place for art inspiration and to gather information on current and upcoming artwork sales.

Future Of Our SuperRare like NFT Marketplace


SuperRare is an exciting NFT marketplace that is integrated with a decentralized social network, focusing on bringing together artwork investors and NFT artists. This platform allows the NFT artist to interact with the audience and the investors in a very exciting and interactive way. At the present time, SuperRare Marketplace is still in its development stage, and yet it attracted a large digital community of audience and gained its attention in the crypto space. In the near future, the marketplace platform is aiming to move forward with continued adoption as numerous artists are constantly added to the platform.d

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Our SuperRare NFT like Marketplace Development Process


Our SuperRare Marketplace creation processes are listed below

Chain Selection

This step involves the selection of the right chain on which the marketplace is expected to execute its functionalities like the bid, buy and sell of digital assets along with the attributes that promote the creation of new NFTs.

Minting of NFT

The minting of NFTs is the primary attribute that allows the listing of non-fungible tokens to be showcased on the platforms. Token Minting is the process of providing authorization of the token as well as the currencies that are related to the platform to be developed.

Integration of Wallet

Wallet integration is a vital and mandatory procedure in any financial system to operate efficiently. The wallet integration involves the addition of available wallets that contain cryptos to the NFT platform.

Creation of NFT

The creation of NFTs is the primary process involved in the development of any NFT Marketplace. It entirely depends on the creativity of the designers and developers and the NFTs are priced based on ideas.

Trade-off

The trade-off is the final step involved in the creation of an NFT Marketplace like SuperRare. On successful creation of the marketplace, the trade-off of the digital assets is located. They are dependent on their pricing and availability and they are represented as the ready use protocol for the NFT platform users.

Our SupeRare like NFT Marketplace Features


Our NFT Marketplace like SuperRare comes with distinct features that define the quality of the marketplace.

Beta Phase Functionality

Our marketplace promotes passive income to the users through the beta phase. The beta phase shows that the platform is still in its development phase. The income is provided to both the primary and secondary market users.

Art Gallery Commissions

Our marketplace is integrated with attributes that produce add-on commissions to the NFT trade-off process. It is differentiated into primary and secondary depending on the mode via which the NFT trading process is available.

Participation Fee

Our SuperRare NFT Marketplace provides the income of the participants through receiving participation fees in the form of market fees. The market fee is priced at efficient rates improving the number of participants who are using the platform for trading NFTs.

Secondary Market Benefits

Our marketplace is recognized for its secondary market benefits. Mostly, NFT platforms are subjected to provide benefits through their primary market and while the revenue of the secondary market sums up to the advanced benefits of the NFT entrepreneurs.

Why Choose Blockchain App Factory For The Creation Of NFT Marketplace Like SuperRare?


We Blockchain App Factory are one of the best NFT marketplace development companies in the digital space. We help our customers to design and develop their NFT marketplaces. We provide standardized design architecture and advanced precision in deploying the product. We develop marketplaces purely based on the customer’s entire specifications and their desire. We have a professionally experienced team in the development of NFT marketplaces like SuperRare. We have the expertise to build your NFT marketplaces on your desired blockchain platforms such as Ethereum, PolkaDot, Binance Smart Chain, etc. Our NFT marketplace development agency is recognized globally for the services we provide in the field of cryptocurrency and blockchain. Our primary priority is to provide security to the platform. Since our platforms are developed in a decentralized ecosystem, we ensure to secure the data and information of the platform and store them securely in the blockchain. We not only provide services to NFT marketplaces like SuperRare, but we also provide services to the creation of marketplaces similar to OpenSea, Rarible, and Nifty Gateway. We provide guidance and support to our clients, even after the deployment of their project into the digital market. We provide 24x7 round with the clock support to the clients after the deployment. Our primary goal is to put you ahead of the competition in the field of NFT marketplaces and enable you to succeed in this field.

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