Web3 NFT Token & Marketplace Development

By Suffescom Solutions

September 30, 2022

A drastic shift from Web2 to Web3 has changed how people trade. Web3, a decentralized network, is setting new benchmarks with the use of blockchain technology in every sector. The blockchain networks which are in vogue these days are Ethereum, BSC, Solana, etc.

NFT, Tokens and Metaverse are the basic concepts behind Web3. The immense potential of these marketplaces has transformed many businesses from ground to top position.

Are you looking forward to a reputable Web3 NFT portal development company? You’ve visited the right place. Suffescom Solutions Inc. is one such renowned firm in delivering top-notch NFT marketplace development services with cutting-edge technology. Excited to know about us and our offerings? Get through this blog to know everything.

Overview of Statistics

  • In January 2022, NFT sales reached a whopping $4.48 billion.
  • Crypto wallet trading has risen from 545,000 in 2020 to 28.6 million in 2021.
  • Till date, the most precious NFT item has been sold for $91.8 billion.
  • The first tweet by Jack Dorsey was sold as an NFT for $2.9 million.
  • The number of unique sellers and buyers reached 759,145 and 910,611, respectively, in January 2022.

These statistics are so fascinating that every business owner would like to invest in Web3 NFT marketplace development to bear profits in the long run.

Suffescom Solutions is an emerging blockchain and White Label NFT development company that can build a robust web3 marketplace platform with exclusive features. 

What is Web3 NFT marketplace?

Web3 NFT marketplace is a blockchain-based NFT marketplace that allows the trading of digital assets as NFTs. It is an e-commerce platform where users can buy, sell, or exchange NFTs to earn cryptocurrency or fiat currency. It requires an integration of an NFT wallet to carry out trading and transactions safely and securely. 

To begin trading on the Web3 NFT marketplace, an account is created, and a crypto wallet is connected. Then, NFTs are built and listed on the marketplace with the required information. When an auction takes place, buyers bid with their price and transactions occur on buying an order. 

To dive deep into the workflow of the Web3 NFT marketplace, get in touch with our experts!

Advantages of Our Web3 NFT Marketplace solution

Developing Web3 NFT marketplace by our esteemed organization- “Suffescom”, you can count on numerous benefits that can significantly flourish your business. Some of the advantages are:

  • Streamlined Business Processes

The entire process, including the NFT creation, trading NFT assets, upkeep of the transaction ledger, supply chains, etc., is simple to administer using our open and decentralized Web3 technology.

  • Cross-chain integration

Cross-chain NFT marketplaces ensure interoperability, simplify the liquidity process, enhance the tamper-proof nature of NFT assets, and increase your customer base.

  • NFT minting

Our dedicatedly built Web3 NFT marketplaces will enable your users to mint an NFT that can be traded, bought,  or sold on various marketplaces at better profits.

  • Transforming the legacy systems

Web3 is emerging and Web3 NFT marketplace solutions are capable of transforming businesses' legacy systems to enhance productivity and improve user experience.

  • Real-time transactions

Our Web3 NFT marketplaces are integrated with real-time payment methods to simplify the transaction process and allow cross-border payments.

  • Minimize the risk of Hacking

Web3 is a decentralized platform that ensures the security of data and protection from various data breaches, hacking, etc. Your users will have a safe and secure environment.

  • Improving Customers’ Experiences

Our Web3 NFT marketplace services enhance customers' experience and provide direct communication between buyer and seller.

Exclusive features of Web3 NFT marketplace

  1. Storefront

The storefront feature works like a dashboard in the NFT marketplace. It contains crucial NFT information like title, price, owner, payment gateways, archives, etc.

  1. Push Notifications

Push notifications are sent to users to notify them about any latest happenings, news, lots for sale, new bids, status changes, NFT platform upgrades, etc.

  1. Advanced search

The advanced search option is to ease the process of searching for users. With this feature, users can get complete information about NFTs in a few efforts. This, in return, will satisfy the customers and ultimately leads to a more customer base.

  1. Filters

Filters are applied on the Web3 NFT marketplace to navigate the website quickly in a matter of seconds, similar to the advanced search option. The filters are based on type, payment method, due date, listing status, best-sellers, hot deals, new items, etc.

  1. Trading

To proceed with NFT trading, the required proposals must have a bid validity date and status because it will enable users to buy and sell NFTs.

  1. User Account

This feature enables users to register with the marketplace and set up an account before they can start trading NFT. This is carried out via a social network account, a phone number, or an email address.

  1. NFT wallet

This connects users with the cryptocurrency wallet to send, receive, and store NFTs and cryptocurrencies. Wallets could be Metamask, MyEtherWallet, Coinbase Wallet, or another cryptocurrency wallet.

  1. Promotions

Promotions let the customers know about the various upcoming promotions related to NFTs. In this way, they stay connected with the latest offers.

  1. Ratings and reviews

This feature lets everyone know what consumers think of the NFT marketplace platform. These could be anything related to transactions, app reviews, etc. This will help owners to correct the platform if needed and will guide the new users about the marketplace.

  1. Support

Support functionality makes sure that issues and disputes that arise on the trading platform are properly resolved. It consists of a contact center, email support, and chatbot.

Technology stack for Web3 NFT marketplace

Blockchain Platforms

  • Ethereum
  • Flow
  • Tezos
  • Cardano

Storage Platforms

  • IPFS
  • Filecoin
  • Pinata

NFT Standards

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

Front-end Frameworks

  • React
  • Angular
  • Vue

Programming languages

  • Python
  • Solidity
  • Java
  • PHP

The development process for Web3 NFT marketplace

Suffescom solutions follow a full-cycle development process to ensure a robust and scalable Web3 NFT marketplace. In our development process, we stay connected with the project owner to take input whenever required and make necessary changes. Our development approach comprises of few steps mentioned below:

Step 1- Requirement analysis

In the first step of Web3 NFT marketplace development, we begin by gathering the necessary information from various sources. Here, we discuss the project goal, features to include, analyze the competitors, choose the domain, set the deadline, cost estimation, etc. Based on the information gathered, a roadmap is built.

Step 2- UX/UI design

Post analyzing the requirements and following the roadmap; we employ our best-in-class designers to create impeccable UX/UI designs for the marketplace to attract a huge customer base. This step is of utmost importance as it helps improve the platform's aesthetic appeal. A platform to be visually attractive must be simple and elegant.

Step 3- Front-end development

Our team of Web3 developers takes the project to the next stage by developing front-end features and creating a product with minimum requirements. Front-end development is done by utilizing the latest tech stack. 

Step 4- Back-end development

It is about developing smart contracts and integrating various required APIs for security and payment gateways. Our highly skilled smart contract developers will write lines of coding to set rules and regulations for the Web3 NFT marketplace.

Step 5- Testing

Upon successfully developing the Web3 NFT marketplace, the platform undergoes rigorous testing procedures to ensure it is free from bugs and vulnerabilities and that coding works efficiently. All the issues detected during testing are sent to the development team to correct them on a priority basis.

Step 6- Deployment

After Successful testing, the platform is deployed on the preferred blockchain network. 

Step 7- Post-Deployment services

We provide post-deployment services to fix any client-side problems and to keep the platform up-to-date with emerging trends and technology, and maintain the smooth functioning of the NFT marketplace.

Estimate Cost to develop Web3 NFT marketplace

Your passion for building a Web3 NFT marketplace can eliminate all your hurdles. The same line goes for the cost factor. Many of you want to develop a customized Web3 NFT marketplace, but your budget may constrain you. 

With Suffescom Solutions, you do not need to worry about the budget as we offer pocket-friendly solutions to our clients. Before taking the project, our business analysts thoroughly examine the project requirements and create a budget estimation so that you can have an idea about the cost of the whole project. This cost can be amended further based on the requirements.

There are some prime factors on which the project's cost depends, such as the number of team members, complexity of the app, number of features, type of platform, tech stack, etc. 

Various other features affecting the cost of the project are:

  • User Profiles
  • Admin Panel
  • Main Page
  • Product Page
  • Rating Page
  • Security
  • UX/UI Development
  • Notifications
  • Crypto Integration
  • Buyer/Seller Panel
  • Management

Contact our business analysts and discuss your project details to get the proper cost estimation for your project. Dial us now!

If you are also stepping into the Web3 NFT marketplace platform, then feel free to connect with our NFT marketplace developers.

Why is Suffescom Solutions the best company to choose?

Suffescom Solutions is the right choice for your project if you want a highly functional and scalable marketplace. We have 6+ years of experience in blockchain, NFT, and the metaverse. We employ a highly experienced team of developers, testers, designers, managers, etc., who carefully listen to your requirements and create an attractive and engaging solution.

What makes us remarkable:-

  1. Full-cycle development services

We offer full-cycle development services to fulfill the client's needs by ensuring quality. 

  1. Customized solutions

Our team is an expert at providing customized solutions to deliver top-notch services.

  1. Result-oriented

We are 100% result-oriented, focusing on delivering unique results to prospects.

  1. Highly skilled professionals

We have top-notch designers, developers, testers, etc., with thorough knowledge about web3 NFT marketplace development.

  1. On-time delivery

We not only focus on providing quality but also on delivering projects on time. Time is precious, and we respect that.

  1. Budget estimations

When it comes to budget estimations, we employ our experienced business analysts who carefully listen to project requirements and create budget estimations accordingly.

Build your Web3 NFT marketplace with our expertise!

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