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Multi-chain or Multi-blockchain – The term itself refers to the meaning of multiple blockchain networks or technologies.
So what does it hold for NFT Marketplaces and their development process?
The success factors of a thriving NFT marketplace always depend on how much it fulfils the needs of user expectations. In this context, multi-chain capability has become an essential part of modern NFT marketplace platforms.
In this blog, we will provide a complete understanding of multi-chain NFT marketplaces
- What exactly is a multi-chain NFT marketplace?
- The development process of a multi-chain NFT marketplace
- Why integrating multi-chain functionality is important for NFT marketplaces
Let’s break it down in detail!
Multi-chain NFT Marketplace – An Overview
The Multi-chain NFT marketplace is a decentralized platform that enables users to buy, sell, and mint NFTs across various blockchain networks. Instead of being restricted to a single blockchain, this Multi-chain NFT marketplace helps owners capture the attention of global multi-chain users.
Due to the booming NFT market, the creation of a Multi-chain NFT marketplace has turned into a success-reaping business idea. If you still want to know,
Why is it important to develop a Multi-Chain Supported NFT Marketplace?
As said earlier, creating a multi-chain NFT marketplace has become an ideal business idea among startups. The multi-chain NFT marketplace not only helps users with multiple benefits. Yet, it also offers a lot of benefits for startups that create a Multi-chain NFT marketplace. Some of the top reasons for Multi-chain NFT marketplace development.
Global User Base
Crypto users who utilize multiple blockchain networks can use the multi-chain NFT marketplace platform. This helps the platform owner build a solid community and loyal user base for the platform.
Overcomes Limitations
The multi-chain NFT marketplace overcomes various limitations like high gas fees, congestion, and limited standards. This ensures that users can choose the most efficient network for NFT transactions.
Cost-effective Transactions
The multi-chain NFT platform offers cost-effective transactions with lower gas fees. Through this, the marketplace becomes more accessible for all kinds of traders.
Scalability
Multi-chain NFT marketplace development is executed with a higher scalability nature, where they can be modified based on the user’s needs. This helps to keep the platform more relevant and adaptable.
With these business perks, it is evident that creating a Multi-chain NFT marketplace has turned the heads of newbie startups. Presently, many NFT marketplaces have integrated the multi-chain feature into their existing platforms. Some of them are listed in the next section.
Popular NFT Marketplaces With Multi-Chain Support
The NFT space is no longer limited to a single-blockchain network; rather, many NFT marketplaces are integrating multi-chain features. Through this, the platforms can meet the growing demand for scalability, lower fees, and broader adoption.
- Opensea – Eventually started with Ethereum integration, and later the NFT marketplace now supports Polygon, Klaytn, Solana, and many more.
- Rarible – The community-driven NFT marketplace is supporting Ethereum, Flow, Tezos, Polygon, etc.
- Magic Eden – Initially, the NFT marketplace was created on the Solana ecosystem, then it has now expanded to support Ethereum, Polygon, etc.
- LooksRare – Primarily, the NFT marketplace is built on the Ethereum network now, but it has integrated multi-chain capabilities to attract broader user engagement.
- Binance NFT Marketplace – Integrated with the BNB chain, presently, the NFT marketplace is offering Ethereum for transactional purposes.
In a nutshell, NFT marketplaces with multi-chain features have become unbeatable. Also, the multi-chain NFT marketplaces are created with numerous features. In the next section, let’s get a deeper knowledge of the list.
Top 5 Features Of a Successful “Multi-chain” NFT Marketplace
Features play a vital role in creating the Multi-chain NFT marketplace. They are the reasons for a hassle-free NFT trading experience for NFT users. Some of the top 5 features of the Multi-chain NFT marketplace development are,
- NFT wallet Integration – The crypto wallets are essential to store, send, and receive NFTs without any hassles. Numerous third-party wallets like Metamask, Trust Wallet, etc, are integrated.
- Real-time Analytics – The admin of the NFT marketplace can view the real-time user transactions, activity, and new user registration. This ensures that suspicious or spam accounts do not enter the platform.
- Cross-chain Trading – The Multi-chain NFT marketplace platform enables crypto users to buy, sell, and transfer NFTs across different chains without switching platforms. This helps to ensure flexibility and wider liquidity.
- Revenue Tracking – The admin can get the live data of the revenue, monetization sources, etc, with this feature. Also, the revenue tools help them to configure the existing revenue streams of the marketplace.
- Dispute Resolution – The platform users can raise tickets for any kind of technical issues, transaction issues, and other problems. The concerned issues are rectified immediately by the admin team.
These are the top 5 features of the Multi-chain NFT marketplace development. Apart from these, there are multiple features that can be integrated based on the business vision and needs.
Advanced-level technologies and tools are utilized to create a potential Multi-chain NFT marketplace. Let’s see them in the next section.
Tech Stack Of A Competitive Multi-chain NFT Marketplace
Creating a Multi-chain NFT marketplace requires high-tech tools and technologies. The tech stack ensures the creation of a robust, secure, and scalable multi-chain NFT marketplace. Some of the common tech stacks that are used for Multi-chain NFT marketplace development are,
- Front-End – The front-end or the user panel of the NFT marketplace is designed with minting, browsing, and bidding features. Some of the tech stacks, such as Node.js, TypeScript, etc, are utilized.
- Back-End – Solidity (Ethereum, BNB Chain, Polygon) and Rust (Solana) are the primary programming languages for creating multi-chain NFT marketplaces. Along with that, Hardhat, Foundry, Truffle, and OpenZeppelin are open-source libraries for NFT marketplace creation.
- UI/UX Designing – Frameworks like React Native, Native, etc, are used for creating the front-end panel with sleek designs. Along with these, Tailwind CSS and Material UI are also utilized.
- Storage – Tools like IPFS, Arweave, and Filecoin are utilized for storing the NFT metadata and decentralized storage. Pinata, Infura, and Cloudflare are used to ensure a speedy delivery of the NFT marketplace.
- API Integrations – For the third-party integrations, APIs of the platforms are used. Crypto wallets like Metamask, Trust Wallet, Coinbase Wallet, etc, are widely used. MoonPay, Transak, and Ramp to offer credit/debit NFT purchases.
With these tech stack utilizations, Multi-chain NFT marketplace development is not a daunting process. Also, startups must know about the wide range of development methodologies that are used to create the platform.
Different Development Methodologies to Build a Multi-chain NFT Marketplace
The Multi-chain NFT marketplaces can be built by adopting two different methodologies. They are,
Hiring an NFT Developer
Newbie startups can hire a freelance NFT developer to create the Multi-chain NFT marketplace. The freelancers charge an affordable cost to create an NFT marketplace platform with multiple features. But there are some drawbacks associated with hiring an NFT developer.
As there is no solid evidence for their experience, startups may end up receiving bad products as a result. Also, one may not be sure about the technical skills to rectify bugs, errors, or technical mistakes. Hence, hiring a freelance NFT developer seems to be an affordable option, but they are risky.
Approaching a NFT Marketplace Development Firm
On the other hand, a newbie startup can go with choosing an NFT marketplace development company. The development firm possesses skilled developers, technicians, and designers to create a Multi-chain NFT marketplace. With mere intelligence, they help startups from guiding to post-launch support for Multi-chain NFT marketplace development.
As they comprise years of experience, the NFT marketplaces can be created without any technical bugs. With the post-launch support, technical bugs and errors can be eliminated. The NFT marketplace development company offers multiple development solutions to launch the platform instantly. Some of them are,
- Custom Solutions – The Multi-chain NFT marketplace is developed from scratch, where every feature is integrated. Depending on the business vision, needs, and market analysis, the NFT marketplace is built brick by brick. This methodology is ideal for established entrepreneurs with a lump sum budget.
- White Label NFT Marketplace – The white label solution is a pre-built software where the essential features, UI/UX designs, and other plugins are pre-made. This ready-made software helps newbie startups to integrate their own business ideologies to create a Multi-chain NFT marketplace. Considering other development methodologies, the time taken to create an NFT marketplace is far less with this solution.
- Multi-chain NFT Marketplace clone script – The clone script is a pre-fabricated, bug-free, and customizable software that replicates the exact features of a successful NFT marketplace. The Multi-chain NFT marketplace can be customized based on the startup’s business needs and requirements. As they replicate a successful NFT marketplace, the startup can gain a larger user base.
From this, it is evident that choosing the NFT development company will be an ideal choice to execute Multi-chain NFT marketplace development. Among numerous development companies, picking the right company, like Pixel Web Solutions, will save you time and energy.
How Pixel Web Solutions Can Assist in Multi-Chain NFT Marketplace Development?
Pixel Web Solutions is a leading NFT marketplace development company that has 12+ years of experience in creating NFT marketplace platforms. We ensure to create multi-chain NFT marketplace platforms that lay the foundation for a future-ready NFT business. With proven expertise in the blockchain industry, we help you integrate multiple features and help you unlock access across diverse blockchains.
Our developers create multi-chain NFT marketplaces tailored to your vision. Our team ensures you get the right blend of technology, strategy, and support to launch successfully. Navigate into the multi-chain landscape with our transformative NFT marketplace development solutions.
Get your customized cost quotation for NFT marketplace development from our business team!!
