There’s a lot of buzz surrounding NFTs these days and it has helped bring the little-understood world of crypto tokens closer to the general public. Many were surprised to discover that it’s not so hard to understand after all and NFTs are a great way of making money selling digital art. Creators all over the world are rushing to join the NFT revolution, while smart investors look for ways to be part of it, too.
The point is creators need a place to sell their art, a digital marketplace so to speak. The easiest way to become part of this new economy is to launch your own platform, and for this you only need an NFT marketplace script.
How does an NFT marketplace script work?
NFT stands for non-fungible digital token. A digital creation sold on a platform like Rarible or Opensea represents such a non-fungible token. It can be stored in a digital wallet as a collectible or resold.
When you open your own NFT marketplace, you give artists a place where they can upload their digital creations so that investors can purchase what they like.
You don’t need any special technological knowledge to do that. All there is to it is to buy an NFT marketplace script, customize it to your liking (or leave it as it is), and deploy it on a server. Once your NFT marketplace is up and running, artists and investors can join the platform and start trading.
Seller experience on the NFT marketplace
Digital artists looking for a place to monetize their creations can easily sign up to the NFT marketplace.
If they have a digital creation stored in a holding wallet (like Metamask, which is a digital wallet used for various crypto tokens) they can upload it to the marketplace. The NFT marketplace script requires that each NFT is verified in order to prove that the user uploading it is the original artist.
Once the NFT is verified, it can be viewed and purchased by interested parties.
Investor experience on the NFT marketplace
There’s a lot of money to be made trading in NFT since collector items can sell for millions of dollars.
An investor joining the marketplace can search by categories looking for the type of NFT that interests them. When they buy a tokenized digital creation, it is sent to their own digital wallet.
How do you make money with a Non-fungible marketplace script?
The only cost for you as an investor is buying an NFT marketplace script. Adding some features might cost extra but that’s basically all, as an NFT marketplace requires only minimal maintenance.
Where does the profit come from?
Commission fees – When you customize your NFT marketplace script you can set a commission fee that applies to all transactions made across the platform.
Advertising revenues – As NFTs are huge right now, you’ll see a lot of advertising coming your way, generating monthly income.
Token sales – On various NFT marketplaces transactions are still made in fiat currencies (like the US dollar). However, you can choose to issue your own crypto token, which will be native to your platform. In order to do that, you will have to purchase an extra feature when you buy your NFT marketplace script.