SaaS Based NFT Marketplace Development | The Cost Of SaaS-based NFT Platform

Our sixth sense tells us that you have landed over here by looking at the words – SaaS-based, marketplace, and NFT. All three of them may seem impossible in the tech world currently, but Suffescom put their hands into making things possible. We love to put our workflow through the process of frameworks and data. Having a framework for a particular project allows us to organize and understand unique projects like the subscription-based NFT platform. The data is to track the progress, aiding to focus more. If you are excited enough to build a saas-based NFT platform, feel free to contact us as there is no one more data framework than Suffescom. 

Again starting with the beginning, think about the marketplaces that hit the skyrocket in the industry, and you might have also used them in your day-to-day life – Uber, Airbnb, Etsy, and many more. Suppose you are someone having a business-centric view for each application. gIn that case, this question may have struck your mind every time – The sense of the technology or platform that drives them and whether they run on individual servers, software as a service, or a platform as a service.  

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In this blog, we will be putting the spotlight on the “NFT saas based platform.” There are several reasons we decided to do so, but we will not deviate from the topic. For merchants and users to interact, one needs to build a marketplace suitable for trading and engagement. This way, you will get a standard to create a marketplace with the seamless feature suite to add up the features rapidly, get better integrations with other web technologies. Making it precise as the owner, you need to have a rock-solid base to build your empire with all of the bell’s whistles and tinsel that makes it unique and a success.

Subscription-Based NFT Marketplace Development

Non Fungible Token – NFTs 

A non-fungible token (NFT) is a unit of data stored in a digital ledger in the blockchain technology system.  This system certifies a digital asset as unique and interchangeable. NFT can be anything from photos, videos, audio, arts, real estate, and so on.

The development of the NFT marketplace is the perfect and giant income system for talented people innovating the numerous services integrated with AR and VR. Creating your NFT marketplace will help you incite the appearance of new unique tech solutions for your business. Currently, in the industry, we all have heard and even worked on SaaS-based food delivery solutions, SaaS-based grocery delivery solutions, and many more. NFT SaaS-based platform is a unique proposition and idea doing your business out of the box and showcasing the intellectuals, creative collectibles, and exhibiting these items to promote the safety and authenticity of digital assets.  To get deeper insights let us brush up on the basics of NFT and how exactly it gets together as a service. saas based nft application

One of the top things to consider whenever you are looking to build up a business is to study the NFT ecosystem thoroughly.

A non-fungible token is depicted as a digital asset that is not the same and has different identification codes and data. This way, it seems impossible even to exchange it or trade at any equivalent unit. The NFTs can be in any form photographs, apps, games, and several other pieces of digital art. Why and How NFT is so different from the other digital currencies. Well, the NFT tokens are comprised of specific properties such as – 

Authenticity: The non-fungible token belongs to one specific person making it to prove and verify the assets. 

Tradability: One can seamlessly trade these tokens only on cryptocurrency exchanges making the capabilities more endless and improving trading systems.  

Interaction with multiple ecosystems: Generating a non-fungible token for digital collectibles is possible with a couple of standards, ERC 1155 and 721. 

Indivisibility: It is highly impossible to divide these non-fungible tokens into tiny denominations. 

Liquidity: Simply, one can trade the NFTs at a non-stop regime due to which their liquidity is much higher. 

Programmability: NFTs offer a vast space for creativity involving forging, crafting, and generating complicated machines. It also provides several opportunities for chances and variations. 

Scarcity: The NFTs comprise many particular characteristics, making it impossible to go through any alterations after getting launched. 

Apart from that, every non-fungible token is also a digital asset comprising a unique set of metadata. By creating a SaaS-based NFT platform, you provide many artists or collectors an opportunity of joining or begin their journey of e-commerce by minting their goods with the help of tokenization. You might be excited of the working of such a marketplace. Well, Suffescom has put down a way to do so by providing you with a workflow of your own subscription-based NFT platform. 

A SaaS-based NFT platform works as follows – 

  • Users can easily choose a digital wallet by signing up on the blockchain technology-based platform. 
  • On your subscription-based NFT platform, creators can seamlessly create and upload their digital assets. 
  • There would be a feature of product listings where one can put the digital assets on display via SaaS-based NFT platform. 
  • Without any alterations, the auctions can stick down to one price for sellers. 
  • Finally, the online store processes the transfer of digital assets and money.
  • The transfer of digital assets and money can take place securely. 

Features To Contemplate For SaaS-Based NFT Platform 

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By this time, you might think of developing a SaaS-based NFT platform, or you are completely motivated and looking forward to the list of features, technology stacks, and standards you need for your marketplace. Let us look at the features one can add to the SaaS-based NFT marketplace.  

open sea like MFT marketplace features

Storefront 

Having an NFT marketplace may seem exciting, but to spice it up, one needs to have a storefront that offers all sorts of information required for an item for users. Such as bids, owners, previews, and also price history. 

Filters 

Adding up the filter section makes it easier for the targeted audience to navigate the site and build a marketplace for several collectibles. The filter features to ease the whole process for users to select items by listing status, payment methods, collections, and category. 

Exploring For Digital Assets 

By creating a SaaS-based NFT platform make sure that it should support the management of tagging and different categories. This way the users can search collectibles via a search bar

Create Listings 

Your SaaS-based NFT platform should allow you to create and submit digital assets. The NFT platform will offer a great user experience by uploading files and filling in the token information like metatags, descriptions, and more by utilizing the listing feature. 

Buy and Bid 

By creating a SaaS-based NFT platform, you should ensure that the users can easily buy and bid on the listed tokens on the platform. To spice up things, the subscription-based NFT platform bidding feature must include a bid expiration date and allow users to keep track of the bids’ current status. 

Wallet 

The NFT SaaS platform must integrate with a secured and connected wallet letting users store, send, and receive NFTs. For instance, one can incorporate the most well-liked wallets such as Formatic, Coinbase, or MyEtherWallet. 

Ratings & Review 

This feature is significant for the newbies if you are planning to build a SaaS-based NFT platform. Whenever a new technology trend or a product launches, many beginners are not fully aware of where and how the system works. One thing you can do is include the rating and review feature to find out whether other users consider this specific seller a reliable one might be enough. 

As you have already understood and determined what sort of features one needs for an NFT marketplace platform, it is time to think about the pricing aspects of your SaaS-based NFT platform. 

Building An NFT Marketplace: The Cost Of SaaS-based NFT Platform 

One thing that strikes in every particular mind is how much it costs to develop a Clone App Like OpenSea? For the ones who are currently have limited budgets, this question holds the importance of another level. Several factors are affecting the price of an NFT marketplace. One another facet that concerns – what type of platform you are going with for your NFT project. The forum for your SaaS-based NFT platform can be the OpenSea SDK or a custom solution on Ethereum. 


nft marketplace solution

An excellent way to limit expenditures and time is to pick and implement a subscription-based NFT platform. This will for sure not break your head up against the wall. Deploying an NFT platform may cost you more than other alternatives, due to which it is essential for you to go with a subscription plan. One can keep a check on the progress and the most important factor,’ Complexity.’ 

Complexity directly questions the exact number of features one is planning to add to the project? Whether Should it include a complex interface or navigation? Therefore, keep your game ahead and focus on factors like – Main Page, Product Page, Rating Page, Notifications, UX/UI Development, Crypto Integration, Buyer/Seller Panel, Security, User Profiles, Admin Panel and Management. 

The time duration may be more than 1000 hours, and the most limited price tag is around $47 000. The development teams from the US and Western Europe may charge lower, but even the quality of standards is hampered. Again we would like to remind you that the project’s cost entirely depends on the requirements and expectations. Therefore, going with a subscription-based NFT platform is the best move, even though you are low on budgets. 

Let us move towards the technology stack of the SaaS-based NFT platform and consider at what step you need to consider the project’s technical implementation. 

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Technology Stack Required for Building A SaaS Based NFT Platform

Blockchain Platforms

  • Ethereum

Ethereum is one of the most widespread platforms for SaaS-based NFT platforms or nonfungible token development. Since transaction history and token metadata are valid on Ethereum, proving ownership history is more accessible. The nonfungible tokens become portable across every product; this happens because the Ethereum products share a standardized backend. Also, Ethereum never goes downhill; therefore, tokens will always be available for sale.

  • Flow

For the new generation of digital assets, apps, games, and more, Flow is designed as a rapidly decentralized blockchain. The platform comes in handy to create both the subscription-based NFT marketplace and NFTs using the Cadence programming language.

  • Tezos

Tezos is an open-source blockchain platform for applications and assets backed by a community of builders, researchers, and validators. Using a pre-compiled FA2 NFT contract written in LIGO intelligent contract language, Tezos supports the development of NFT marketplaces and NFTs.

  • Cardano

Cardano is a blockchain platform with technologies and tools required to provide unmatched security and sustainability to decentralized systems and applications. It also supports the development of NFTs and other digital assets. 

Storage Platforms

  • IPFS

IPFS is a peer-to-peer hypermedia protocol designed to store media content in a decentralized way. As the media file related to NFTs cannot be stored directly on the blockchain, IPFS can store all that data.

Also Read:  How Does It Work When Build Using NFT Marketplace Clone Script?

  • Filecoin

Filecoin is a decentralized storage network designed specifically to store the most critical information, such as media files. The storage platform includes everything that a developer will require to get started with decentralized storage for NFTs. Knowing its benefits, Truffle Suite has also launched NFT Development Template with Filecoin Box.

  • Pinata

Pinata is also one of the popular platforms to upload and manage files on IPFS. It provides secure and verifiable files for NFTs.

NFT Standards

  • ERC-721
  • ERC-1155
  • FA2
  • TRC-721

Front-end Frameworks

  • React
  • Angular
  • Vue

Conclusion 

By looking at the popularity of OpenSea Clone Script spreading like wildfire, especially in our age group, we can assure you that there will always be passionate collectors. Launching a SaaS-based NFT platform or NFT application is a great idea. Before deploying a marketplace or app, know the function and what sort of various audiences or collectors you are targeting. 

The first thing you should do is to approach an NFT marketplace development company making it easier and faster for you to get started with your own NFT marketplace.