Top 5 Reasons to Start Your Own NFT Marketplace : Understand The Purpose
NFT Marketplaces are creating Momentum since 2020. The arrival of NFTs made trading of real-world assets easy, efficient, and secure. The vital part of NFT Marketplaces is that they act like a connecting bridge for investors, buyers, creators, and sellers in just one place. These epic platforms paved a way for artists and music composers to regain attention for their creations and bring value to them. Opensea is one of the best examples of a successful NFT Marketplace.
OpenSea Creates Momentum
OpenSea - One of the most popular and pioneer NFT Marketplaces which has attracted almost 90% of the industry's attention towards it. The success of OpenSeas relies on its ‘Everything under one roof’ interface.
OpenSea was the first NFT Marketplace to incorporate all the NFT use cases in just one place. It has separate interfaces to buy and sell NFTs that are related to the below categories.
- Trading Cards
- Domain Names
Check out the official website. : Opensea.io
OpenSea’s Interesting & Inspiring Statistics
As of now The worth of OpenSea As disclosed by bbc.com is - $13.3bn
And another interesting statistic provided by Forbes is, the platform generated around $3.3 bn worth of sales in December 2021 and around $82.5 million as revenue for the company.
Refer: The First NFT Billionaires
The success of OpenSea becomes an inspiration for young entrepreneurs to get into the NFT Competition by starting their own NFT Marketplace Like OpenSea. And, Bitdeal stands there to support those entrepreneurs to create an NFT Marketplace Like Opensea.
Apart from OpenSea, many NFT Marketplaces are achieving their success in different categories like games, music, arts, and more.
Some of them are,
- Rarible - Opensea Alternative NFT Marketplace
- Axis Infinity - NFT Game
- Decentraland - Metaverse
- Sorare - NFT Sports Marketplace
- Lollapalooza - NFT Music Marketplace.
Before that, it is very important to understand the interesting reasons to start an NFT Marketplace. Let us provide the reasons in 5 valuable points. Just check out, and expand your understanding if you are looking to start an NFT Marketplace.
Top 5 Reasons To Start an NFT Marketplace
# 5 NFT Market Is Expanding, Time To “ Make Hay While The Sun Shines”
# 4 Revenue Not Just In ‘Dollars’, But In “Billions Of Dollars”
# 3 Fewer Possibilities for Business Risk
# 2 Attract. Connect. Mediate, and Generate ROI
# 1 Possibility To Become a No. 1 NFT Marketplace If you Pick the Right Niche.
#5 NFT Market Is Expanding, Time To “ Make Hay While The Sun Shines”
The NFT industry experts predicted that the craze for NFT would never go down. Many industries and Retail brands would enter the NFT sphere by 2022. By 2021 The NFT Market value has surged up to $40 billion, and it is expected to grow by 2X by 2022.
From Justin Bieber, Leonel Messi To John Cena, a lot of celebrities around the world are showing their interest to create their own NFT.
This becomes one more essence, and spiciness for the booming NFT market. So if you have a plan, then this is the time to execute it.
Get Ready To Kick Start Your NFT Marketplace!
#4 Revenue Not Just In ‘Dollars’, But In “Billions Of Dollars”
We have disclosed enough proven statistics in the numbers above. That clearly states that starting an NFT Business could be a big jackpot, and you may hit billions of dollars as revenue in just a short period.
In Q3 Of 2022, Dappradar announced that the total trading volume of the NFT Market reached nearly 10.67 billion.
We don’t want to fill your mind with numbers, the open statement is the result is “Huge In Revenue”.
#3 Fewer Possibilities for Business Risk
The crypto industry is almost striking the headlines in the last 5 years, and it has attained a 100X growth, and the industry has expanded into several branches. Now the NFT is leading the entire crypto and blockchain industry into a new dimension, and into a new blockchain-powered digital world. Sure, its success could become the reason for many innovative NFT powered blockchain projects, and businesses around the world.
NFT stands to fight for ownership for creations and real-world assets. So the security issues have been diluted. All these factors sum up the high potential for NFT based businesses in the future.
#2 Attract. Connect. Mediate, and Generate ROI
By starting an NFT marketplace, you become the reason, to attract, connect and mediate creators, buyers, and sellers in just one place. This provides a huge opportunity for creators to expose their creations, and assets to explore their attention without a limit. The more you connect people, the more you do a business and it will result in a possibility of High ROI.
#1 Possibility To Become a No. 1 NFT Marketplace If you Pick the Right Niche
Your Marketplace will become the No.1 NFT Marketplace if you pick the right niche and try to attain the attention of the audience by incorporating essential features in it. Bitdeal provides expert consultation if you struggle to choose the right niche.
The above points are enough to answer you for “Why to start an NFT Marketplace ?”. understand the purpose of starting your own NFT Marketplace, and kick start yours.
Need Consultation and Tech Support?
Bitdeal being an NFT Development company & Solutions Providers, we are ready to assist you in all aspects of your NFT Business. Our team will guide you from start to end. Our expertise in creating bug-free non-fungible tokens and NFT Marketplace will fulfill all your business requirements. We are looking for an innovative NFT project, get ready to connect with our Team!.