What are NFTs?

NFTs or Non Fungible tokens are cryptographic tokens with unique identification codes and metadata. Recall the time you let your friend use your car. Is it ok if he returns a different car after use? No right! Similarly, if you lend an NFT to a friend, you would prefer they return it with the same NFT token and not a different NFT of the same type. As stated before, the value of the NFT token is unique and cannot be exchanged or traded for an equal value.NFTs are one of a kind, whereas cryptocurrencies like Bitcoin are considered fungible as you may exchange one bitcoin for another and still have the same thing.

NFT Exchange Platform

Selling Features of NFT Exchange

An NFT exchange works similarly to an NFT trading platform; the below section gives you a basic idea of how its selling functionalities work.

Account Creation

Account Creation

Find the right NFT exchange platform where you wish to post your work, and if you already have an account, use your login credentials or get started with the account creation process.

Minting

Minting

After logging in, you must mint your work as an NFT by connecting your crypto wallet. As such, this will allow you to pay the necessary minting fees.

Listing

Listing

Once the NFT is minted, add the basic details, such as the project name, and then you can opt for a fixed price or an auction model. Once the details are fully entered, get ready to go live.

Buying Features of NFT Exchange

To participate in the ongoing NFT craze, you need a reliable NFT exchange with proper NFT buying capabilities. Take a look at the features discussed below.

Create an Account

Create an Account

You must have an account to buy an NFT on the platform. An NFT exchange platform will have a simple login procedure, and you can explore the platform once entered.

Connect Your Wallet

Connect Your Wallet

To buy an NFT, you need to connect your wallet to the desired platform and have some crypto tokens. You can use any crypto wallet like metamask or coinbase wallet etc.

Purchase Of NFT

Purchase Of NFT

The NFT price will be positioned in one of two ways; It may be a fixed price or under auction basis. After finding your perfect NFT, you can purchase it using the crypto available in your wallet.

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Core Features of NFT Exchange Platform

While building an NFT exchange platform, keep track of these features. It gives your customers a smooth buying experience and increases NFT liquidity. This can be easily achieved by partnering with us to build an NFT exchange.

Token Standards

Token Standards

NFTs are built using different token standards to present their uniqueness. Some of the token standards are ERC 721 and ERC 1155.

Search Engine

Search Engine

Finding the desired NFT shouldn’t be a problem. So the platform needs to have a powerful search engine. For example, if a user wants to buy a Cat Scientist-related artwork, it should be able to bring it up in an instance.

Trade Rule

Trade Rule

The users should be able to select any of the two trade rules, i.e., either fixed price or on an auction basis, to buy the NFT.

Wallet Integration

Wallet Integration

There is a dozen popular wallet available in the crypto market, and the user should be able to connect to whichever wallet he finds suitable.

Admin Dashboard

Admin Dashboard

The platform's admin should be able to review the activities happening in the exchange. He must be able to remove a user if he uploads inappropriate content as an NFT.

Customer Support

Customer Support

Good customer support is the best way to take your firm's operations to the next level. Our dedicated team clarifies your needs and solves them in no time.

Why Choose our Whitelabel NFT Solution

Why Choose our Whitelabel NFT Solution?

With our whitelabel solution, you can launch your NFT ticketing platform within a few days. We customize the platform per your requirements and incorporate a simple registration process for purchasing an NFT Ticket. Manage the end-to-end NFT ticketing platform functions from one stop. You get all the features built into the admin dashboard, and you will be able to scale and launch the platform. You also create sub-admins, blocklist users, manage permissions, manage payment options, check customer support inquiries, etc. Do you have specific custom features and functionality requirements? Reach out for a demo.

Why Choose CoinFactory for developing your NFT Exchange?

Coinfactory has successfully launched over 50 ICOs/STOs and raised more than USD 650M for the clients.CoinFactory's white-label solution has been used by several crypto exchanges, and 10+ NFT marketplaces use Coinfactory’s Whitelabel NFT platform. CoinFactory aids Accubits in providing end-to-end support for business people who want to set foot in blockchain-based projects. We were able to support them from token issuance to DApp development.

Why Choose CoinFactory for developing your NFT Exchange Platform

We are Trusted by the Best Brands in the Industry

Thousands of global clients, from technology startups to federal agencies, have trusted us with their NFT solution development requirements.

nasa
Nissan
united states postal service
USGS
Adnec
Homeland Security
giti
Smart Dubai
Dubai Electricity and Water Authority (DEWA)
Ministry of Health (MOH)
JP Morgan Chase and Co
Li and Fung

Few Handpicked Resources

Here are a few handpicked resources from our blog. We think you'll find this helpful.

FAQ

NFT enthusiasts are curious to know more about the What's, Why's, and How's of NFT Marketplace development. So we have collected some popular questions related to NFTs, and our experts have answered those to quench the thirst for knowledge of NFT Creators. If the answers to your concerns aren't listed here, worry not! Drop us an email, and we will respond within 24 hours.

What exactly is an NFT exchange?

An NFT exchange platform allows prospective investors to sell and buy NFTs across industry verticals, from visual arts to gaming. It allows traders to buy and sell NFTs using cryptocurrency or fiat currency. Moreover, the seamless trading experience provided to the users makes it possible to gain instant liquidity from the NFTs.

Learn more: What are Non-fungible tokens or NFTs?

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