Strike the Opensea Whitelabel Hammer to Ace the NFT Smart Contract Marketplace
By Suffescom Solutions
November 09, 2021
Whether you're a seasoned NFT veteran or just getting started, you've probably heard about OpenSea. Since 2017, when Alex Atallah and Devin Finzer raised hundreds of millions of dollars in numerous rounds of fundraising, OpenSea has been in the NFT space. The idea of so many people putting so much money into a firm raises the question: what exactly is OpenSea?
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What is Opensea?
OpenSea is one of the most widely used web3 peer-to-peer NFT marketplaces for buying, selling, and creating NFTs. With a trading volume of over $6.5 billion, OpenSea has established itself as the busiest NFT platform.
OpenSea, in my opinion, is the Amazon of NFTs. OpenSea offers every type of non-fungible token imaginable. Here's a rundown of some of the different sorts of NFTs available on the OpenSea marketplace:
Attract art enthusiasts from all around the world by presenting one-of-a-kind works of art on your site.
Leading audio tracks and masterpieces are deserving of acclaim and success. Expose music enthusiasts to the best in your NFT marketplace to capture their attention.
Ensure the legitimacy and uniqueness of domain names for your NFT marketplace users.
Enhance your users' experience in your NFT marketplace by allowing them to interact with one another as they would in the real world.
Recognize the underlying physical assets as NFT trade cards, giving your users immutability and ownership.
Art, music, films, and other unique goods can be minted as NFT tokens and sold on the NFT marketplace for anyone to buy.
Provide a fantastic platform for sports fans to buy, trade, and keep virtual sports assets based on their preferences and needs.
OpenSea, unlike some other NFT marketplaces, does not cater to a single niche within the NFT community. OpenSea, on the other hand, provides a marketplace where both producers and collectors may come to buy, sell, and develop various NFTs.
Moving forward it is preferable to join the bandwagon than to meet a mute spectator when every asset is being converted into crypto collectible. Because of the rise of digital collectibles, entrepreneurs have a bright future ahead of them. How about a trading platform that is low-cost, quick to conduct transactions, and independent of centralized authorities? Yes, it is an opensea Whitelabel platform that uses blockchain networks such as Binance Smart Chain (BSC), Ethereum, Flow, and TRON to operate. Today, there is a cost-effective way to succeed in this field. Crypto entrepreneurs can acquire a opensea whitelabel Marketplace to allow for quick purchasing and sale of digital assets created by artists.
We are well aware that you might be curious regarding the opensea Whitelabel platform. In this blog, we will be aiding you to give some informative insights on the solution and how it's gonna be beneficial.
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What Is An OpenSea Whitelabel Platform?
A general explanation of white-labeled goods is required to gain an understanding of the white label OpenSea marketplace.
White Labelled Solution
White labelling is the process of removing the creator's brand and logo from a product and replacing it with the purchaser's branding name and logo.
For example, the mobile phones we use are a good example of white labeling because the entire build of the phone is not entirely manufactured by the premier brand; only the software would have been built by the brand, while the exterior casing, batteries, and screens would have been manufactured by a different company. However, the leading mobile phone company would have replaced the third-party company's brand with its own.
As you have a slight idea about Whitelabel, let us move towards the Opensea Whitelabel platform.
It's a ready-to-use trading platform that's available online 24 hours a day, seven days a week, 365 days a year. White-label OpenSea marketplace development is now widely used in a variety of industries, including art, e-commerce, entertainment, gaming, music, software, sports, social media, and real estate.
How does an Opensea Whitelabel Platform work?
In terms of daily trading volume ($132.30 million), OpenSea is the world's largest NFT marketplace. For example, when offering crypto-collectibles generated by artists, it uses a dual auction system. As a result, content creators can choose between Dutch and English auctions.x
In most Dutch auctions, the price of the NFT drops gradually until a bidder agrees to spend money on it. An English auction, on the other hand, works in the opposite direction. After a given period, investors who place the highest price will be automatically purchased the digital collectible. We have also explained some of the different kinds of listing fee structures in an OpenSea whitelabel platform.
Fixed Price Listings
A creator lists the NFT on an open marketplace like OpenSea, similar to how a merchant lists an item for sale on the Amazon website. This piece of NFT art will remain for sale until it is purchased or the creator cancels it.
Incorporate a Dutch auction function into your OpenSea whitelabel platform, where the seller can determine the starting price, final price, and duration of the auction. The cost of NFTs continues to fall with time. The buyer can select the buy now option at any time, which will take them to the wallet provider to complete the transaction.
You can include an English auction feature in your OpenSea whitelabel that works similarly to eBay. The items are displayed on the OpenSea whitelabel platform, and users can bid an amount in the input area that is higher or equal to the original bid amount. The NFT item is awarded to the highest bidder who remains at the top of the bidding list.
How does the NFT get transferred to investors on a Whitelabel OpenSea platform?
On an OpenSea whitelabel marketplace, buyers must sync their software wallet or hardware wallet. To entice investors, entrepreneurs must offer both offline and online asset storage options.
Traders can use digital wallets like Coinbase Wallet, Fortmatic, MetaMask, MyEtherWallet (MEW), Portis, Torus, Trust Wallet, and WalletConnect on the Rarible NFT trading platform, for example. Investors gain complete control over their funds, as well as cross-platform compatibility, private keys, QR code scanning capabilities, and a social media login method.
Crypto enthusiasts can employ hardware wallets like the Ledger Nano S and Ledger Nano X with the Whitelabel OpenSea trading platform. Users benefit from features such as recovery phrase backup, Bluetooth sync, multi-currency support, and offline money storage.
Get to Know The Opensea Whitelabel Platform's Key Features
An NFT marketplace's storefront is a key element that should include all of the essential information, such as bids, previews, owners, pricing history, and so on. It should provide users with information about all of the things available in the marketplace.
Make it easier for your users to navigate your marketplace, especially if there are a lot of collectibles. This is why you'll need to use search filters to find things based on pricing, listing status, collection, and other criteria.
Add a search bar to the site and categories to help users find the collectibles they're looking for. Users can easily search collectibles thanks to category management and labeling.
An NFT marketplace should include a feature that allows users to create and post collectibles, along with information about the token such as name, tags, and description.
Buy And Bid
A purchase and bid feature is one of the most important components of the NFT marketplace. The bidding feature can reveal information such as bid expiration dates, current bid status, and so on.
A wallet option that allows users to store, send, and receive non-fungible tokens is required for an NFT marketplace. You may also allow consumers to use their existing wallets with this marketplace.
Some exciting Add ons Of Our Whitelabel OpenSea Platform
How Our Whitelabel OpenSea Platform Is Highly Compatible With Metaverse?
Many of us are still trying to catch up with the technology, and most are already there. Therefore, we need to go through the concept of the Metaverse once again. The Metaverse refers to the converging collection of shared online worlds such as physical, augmented, and virtual reality. In a more straightforward language, people can seamlessly spend time with their friends, visit places, work, buy goods, attend events, and more without actually being there. Creating your OpenSea Whitelabel platform will automatically heighten up the user experience.
The road ahead is a complete bunch of opportunities for the crypto-enthusiasts, enterprises, and investors hastening the NFT adoption and usage. The most important element in all of this is the NFT controlled access - particularly to the Metaverse.
The Nexus between Metaverse and Whitelabel Opensea Platform
Allow us to dig a bit deeper to understand the relationship between an NFT and the Metaverse. Putting NFT and Metaverse in one line confuses many who are not familiar with this world. Surprisingly you got us, and our white-label OpenSea platform has got your back.
By looking up at the increasing numbers of collectors in the brave new world of web3, a user walks into a virtual shopping mall because of the Metaverse. He further decides to buy a digital mickey mouse costume in the Disney virtual store for his online avatar. Further, he picks up something to eat to be delivered to his physical house via Ubereats and then joins the Beatles concert virtually. The whole scenario feels wholly seamless, the data and purchases moving along the physical and digital worlds. It includes the real transfer of the resources in between the two worlds, both real and virtual. The Web3 world allows the NFT to link with the Metaverse enabling it to perform all sorts of decentralized transactions.
- Elimination of intermediaries – Because there are no middlemen or third parties in the White label OpenSea marketplace, content producers receive adequate recompense for their valuable work. They have complete autonomy and do not have to pay any commissions or trading fees.
- WalletConnect, Coinbase, Fortmatic, MetaMask, MyEtherWallet, Portis, Torus, Trust wallet, and WalletConnect are all integrated digital wallets where investors can safely keep their crypto holdings. These wallets are cross-platform compatible and provide a private key and a secret code/password for added security.
- Exclusive access to trendy collections – Buyers have the opportunity to purchase high-end NFTS created by top artists, designers, and game developers.
- Instant notifications – Crypto investors receive the most up-to-date information about auctions, price changes, new NFT launches, and the progress of bids via email alerts and push notifications.
- The specifics of trades and transactions are securely maintained on the distributed ledger, which is backed up by the automated smart contract, ensuring a high level of transparency on the NFT marketplace. Investors can make the greatest NFT purchase selection by reviewing all of the content creators' information, including their name, photo, and prior work.
Launch an NFT marketplace clone platform like OpenSea, Rarible, using the NFT marketplace clone script
It is evident that the Open Sea marketplace is growing like a fire in the forest. This makes the white label OpenSea platform one of the most profitable concepts in the next upcoming years. Creating an OpenSea white label platform can be proven as the unique method for generating revenue with bigger profit margins. If you are about to start the search for a reliable trading app development company, then you have landed in the right place. Give our experts a call, and we will give you first-hand information on the development process of whitelabel OpenSea platform and complete assistance to make you stand apart from the giant trading platform - OpenSea itself!