The hype behind NFTs (Non-Fungible Tokens) is growing tremendously and the urge to get into the NFT market among entrepreneurs has taken the upper hand. This is when a white-label solution comes to prevalence, playing a significant role. The term white label denotes a pre-made solution replicating an existing product with the benefit of rebranding or customization. Yes, there will be no doubt that a white-label NFT marketplace is a perfect aid for entrepreneurs willing to launch the NFT marketplace and leap into the NFT industry within a short period. Know more about the white-label NFT marketplace and ways to make the most out of it with monetization modules.
White-Label NFT Marketplace - What Else To Know About It?
White-label NFT marketplace is a pre-made solution equipped with requisite features such as exploring NFTs in Storefront, search filters, wallet, multiple payment gateways, ranking, buy NFTs, bid NFTs, listing, etc. This solution is backed by the Ethereum blockchain indeed.
The significant perk is that it is end-to-end customized for varying business requirements, comprising features inclusion and blockchain technology usage. It is up to the proprietor’s choice to decide on. Ethereum is always the first choice for entrepreneurs.
Though, it has some drawbacks like network traffic and high gas fees. This is why they pick some other blockchain networks like Binance, Cardano, Solana, Avalanche, Flow, EOS, etc., as these overcome the shortcomings.
Ways To Monetize A White-Label NFT Marketplace
Listing Fees - The white-label NFT marketplace will allow the users to list their digital assets on the platform with the option of bidding or buying. For this, the NFT creators or owners have to pay a certain percentage. This seems to be a constant way of revenue-generating.
Initial Setup Fees - When individuals enroll themselves to be traders on the NFT trading platform, a minimum percentage of the setup fee will be levied after listing their digital assets.
Transaction Fees - Also, known by the term gas fees. Whenever the registered users make transactions on the platform upon selling/buying NFTs, quite a considerable percentage of transaction fees will be levied.
Minting Fees - Apart from the basic charges for listing and transactions, minting fees can be levied when users or NFT owners convert their digital works into NFTs.
The Concluding Thought
Acquired a profound knowledge of what a white-label NFT marketplace is about and approaches to making revenue? If you intend to step your foot into the NFT sector and launch the NFT marketplace? Make utilization of the white-label NFT marketplace solution.