Category Archive : NFTs

Rarible Clone

Rarible Clone : Create a Blockchain NFT Marketplace like Rarible and Mint Millions Soon

Have you heard of an online marketplace that has thousands of traders and processes millions of buy and sell orders in just a few months after its launch? Rarible is a modern NFT marketplace that sells various types of digital collectibles to both retail and institutional investors.

It is a highly secure platform as content creators and investors have 100% access to their funds always. Private keys safeguard all crypto assets.

Buyers can purchase high-value artwork, Decentralized Finance (DeFi) assets, domain names, gaming assets, memes, metaverses, music, and photos from the platform. Hence, entrepreneurs will know all the intricacies to create a blockchain NFT marketplace like Rarible.

Some statistics about the grand success of the Rarible NFT marketplace

  • 52,369 traders have registered – on the Rarible blockchain NFT marketplace so far. It has processed a whopping trading volume of $149.95 million as per DappRadar.
  • The Rarible NFT selling platform handles trades worth – $160,480 daily and $2.67 million every week.
  • It has sold 153,238 NFTs – so far with a trading volume of $108.05 million.
  • 1230 investors use the Rarible NFT marketplace – The platform has a positive cash balance of $3180. Additionally, it processes 2750 peer-to-peer transactions (P2P) every day.

Entrepreneurs aiming to make a splash into the trading of crypto collectibles can team up with an app development company. A customized Rarible clone script is created quickly. It contains user-friendly Android and iOS apps for artists and investors.

Moreover, an advanced admin dashboard helps in monitoring the day-to-day business operations efficiently. Additionally, a modern web panel helps in the smooth conducting of auctions for selling crypto collectibles to interested buyers.

Read more: Top NFT Marketing Agencies 2021

What are the various elements of the readily deployable Rarible Clone?

Create Collectible – Artists, designers, and photographers can create their own NFTs by clicking the “Create Collectible” option. Moreover, they can sell either single or multiple digital collectibles based on timed auctions.

Integrated digital wallets – The crypto assets of artists and investors are securely stored on different digital wallets. The Rarible clone supports popular wallets like Coinbase, MyEtherWallet, Fortmatic, Portis, Torus, WalletConnect, and WalletLink.

A detailed list of Top sellers – Buyers can enhance the value of their portfolio by purchasing NFTs listed by the Top sellers. The Rarible clone script categorizes the digital collectibles owned by the Top sellers daily, weekly, and monthly. 15 sellers are part of each list.

It includes details of the average price charged, links of their social media accounts, names of the artists, and website URL.

Live auctions – Investors are induced to buy multiple Non-Fungible Tokens (NFTs) sold on the Rarible clone through Live auctions. In reality, it consists of alien-themed NFTs, animated versions of dogs, CryptoPunks collections, Disco Biscuits, Herds of Bulls, and Mother Nature.

Hot collections – Is there anything better than this special feature? Hot collections sell the highly demanded crypto collectibles to prospective investors.

It consists of Beeple (Round 2 Edition and Special Edition), ERC-721 based artwork, ERC-721 NFTs (Axie, Hashmasks, Meebits, and Wrapped Cryptopunks), and ERC-1155 (Art Blocks, The Crypto Flamingo, Mani Grupa token, and Spiritual Gangsta).

Rarible Governance Token (RGT) – Buyers on the Rarible clone can purchase the RGT to get decision-making powers and voting rights. The Rarible governance token runs on the Ethereum-based smart contract.

Investors can store their RGTs in the MetaMask digital wallet (browser extension and mobile app). There are a total of 10 million Rarible Governance Tokens. Additionally, Airdrop programs offer free RARI tokens to buyers.

Investors can buy RGT from cryptocurrency exchanges like Bilaxy and Hoo. Buyers earn extra income through Marketplace Liquidity Mining. Equally important, buyers earn Rarible Governance Tokens for every purchase of NFT.

An integrated feedback system – Existing users of the Rarible clone script can share useful opinions and suggestions to entrepreneurs. Nevertheless, this helps in adding new features to the NFT marketplace like Rarible and boosts the overall trading experience.

An insightful Rarible Newsletter – NFT enthusiasts receive the informative Rarible Newsletter directly to their email addresses. Besides, it includes the latest updates about the launch of new artwork, market analysis, NFT project news, and other platform development alerts.

Other protection measures – Artists and content creators are completely safeguarded on the Rarible clone. They get protection against issues like copyright infringement, duplication, fraud, licensing, and violation of Intellectual Property.

Likewise, this ensures a high level of transparency as content developers retain 100% ownership of their work always.

Read more: How much does it Cost to Build an NFT marketplace?

What are the two types of NFTs sold on the Rarible clone script?

ERC-721 – It is an exclusive NFT standard issued on the Ethereum blockchain network in January 2018. Each crypto collectible sold on the Rarible clone contains a unique Token ID and a Token pair contract address.

The ERC-721 standard also contains separate functions for changing the total supply of tokens, knowing the token balance in an account, and transferring tokens from one account to another.

ERC-1155 – It is a multi-token standard built on the Ethereum blockchain network in June 2018. The Ethereum smart contract consists of a mix of Fungible tokens (FTs), Non-Fungible Tokens (NFTs), and Semi-Fungible Tokens (SFTs). All digital collectibles backed up by a token ID. It contains information about the unique attributes of the NFT, metadata, and total supply.

The ERC-1155 multi-token standard integrated with the Rarible clone script provides numerous benefits. Accordingly, buyers get advantages like an atomic swapping option, a decrease in transaction fees, easy transfer of multiple tokens simultaneously, and escrow protection.

The cost to create a Blockchain NFT like Rarible?

The total cost of Rarible clone script development depends on aspects like the choice of features, hourly charges paid to the blockchain and crypto developers, level of customization, the time taken for development, third-party API integration, and the type of tech stack.

Further, entrepreneurs have to bear more expenses for bug-fixing, maintenance, software updates, and technical support.

Wrapping Up

The Rarible NFT marketplace has performed impressively in 2021. It will aim to become a powerful Decentralized Autonomous Organization (DAO) in the future. Subsequently, more buyers will receive control and governance rights to vote on the different decisions for the development of the online platform.

The technology startup is aggressively expanding its business operations after receiving a mind-boggling $1.75 million in funds from investors in February 2021.

Hence, entrepreneurs can make a big impact in the fast-rising world of crypto collectibles now. Nonetheless, they can get the tailor-made Rarible clone from a reputed app development company and be a trendsetter in the market soon.

Read more: 3 NFTs Worth Investing In Right Now

NFT Marketing Agencies

Top NFT Marketing Agencies 2021

NFTs have taken the blockchain industry by storm and it is safe to say that the digital trend has created business opportunities for artists, musicians, journalists, and everybody else. These guys need experts to educate them on industry best practices and guide them on the best strategies to market their NFT sales. Luckily there are a number of top NFT marketing firms to help you. Some focus more on the creation of NFTs, while others are more focused on marketing and sales.

Here is a list of top NFT marketing agencies – in no ranking order.

Ninjapromo

NinjaPromo is the top creative digital marketing and content production agency in blockchain and NFT Sphere. NinjaPromo is based in New York, focused on SMM and community management through outstanding content production, paid social advertising, influencer marketing, PR  and media relations, and more. When cooperating with NinjaPromo, you can be sure that your NFT campaign will be managed successfully. They helped to gather over $1,5 billion during investment collection, while also offering video creation services (promo and explainer videos), UX/UI design, website design, branding, the list goes on.

TokenMinds

TokenMinds is a top-notch NFT marketing agency. Launched by three marketing experts in 2015, the company specializes in marketing, growth, and fundraising, but also provides insights on go-to-market strategy and community building. If you need consultation on how to structure and promote your NFTs, TokenMinds is a great option. On top of the impressive client list, TokenMinds has gotten its clients some great results, including helping projects raise up to $70 million through crowdfunding.

In addition to NFTs, TokenMinds also offer services such as community management, PR and influencer programs, bounty campaigns as well as promotion in Asian markets. The company can offer support in English, Japanese, Chinese, Korean and other languages customizing the campaign to the needs of every client.

FireCask

FireCask is a creative agency that offers consulting services to both NFT and non-NFT clients. The agency focuses on marketing consulting, as they’re a full-service agency offering services like SEO, PR and social media marketing. Along with marketing, they can also help manage your community of followers which is an added bonus.

Coinbound

Coinbound is also one of the early entrants to the crypto advisory industry. However, NFT marketing services are just one part of their core business, which also includes crypto marketing, growth and sales. They have worked with a huge number of big-name clients including MetaMask, CryptoDaily, CoinStats, OKEx, Nexo, Cosmos Network, among others.  ,

X10

X10 is another crypto and NFT marketing agency. They recently just started marketing NFTs but were originally a crypto marketing agency. Just like TokenMinds, they also focus on Defi, STO, IEO/ICO and other niches within crypto. They’re based in Russia and have a strong presence in EMEA with smaller brands in the region. This is another agency that’s been in the space for a while and specializes in crypto.

Read more: How much does it Cost to Build an NFT marketplace?

NFT marketplace cost

How much does it Cost to Build an NFT marketplace?

Almost every Internet user would have come across the term “Non-Fungible Tokens” (NFTs). It has received a lot of media coverage both in the crypto market and mainstream economy. Further, Crypto collectibles have a humongous market capitalization of $18.14  billion as per CoinMarketCap. They also have a daily trading volume of $2.60 billion. Let’s look at How much does it cost to build an NFT Marketplace

What is an NFT marketplace?

An NFT marketplace sells a wide variety of high-value crypto collectibles to investors through auctions. Buyers can purchase different kinds of artwork, domain names, fashion accessories, gaming assets, memes, metaverses, music (both albums and tracks), photographs, software licenses, sports goods, trading cards, tweets, and videos from the online platform by making bids.

OpenSea ($1.45 million), Axie Infinity ($1.26 million), NBA Top Shot ($1.06 million), AtomicMarket ($850,840), and Decentraland ($789,670) have high trading volume as per DAppRadar.

AtomicMarket (20,585), NBA Top Shot (19,380), Axie Infinity (2860), OpenSea (2569), and Sorare (1979) have the highest number of traders.

What must entrepreneurs know before developing an NFT marketplace?

Binance Smart Chain (BSC), Cardano, EOS, Ethereum, Flow, Polkadot, Solana, Stellar, and TRON help in the creation of different NFT marketplaces.

Besides that, investors store crypto collectibles in secure digital wallets like Brave, Coinbase, Dapper, Fortmatic, MetaMask, MyEtherWallet (MEW), Portis, Torus, Trust Wallet, WalletConnect, and WalletLink.

Moreover, entrepreneurs can ensure a high level of safety and transparency on the online platform by conducting Know Your Customer (KYC) and Anti-Money Laundering (AML) verification of all the artists and buyers.

Artists, content creators, celebrities, fashion designers, filmmakers, game developers, journalists, musicians, photographers, property developers, publishers, social media users, software developers, and sportspersons are the biggest sellers of NFTs.

How does an NFT Marketplace Work?

Content creators and investors have to register on the crypto collectible selling platform. They undergo KYC/AML verification. The admin approves their accounts after verifying the data. The artist uploads a file of their unique work on the NFT marketplace. They use different formats (JPEG for memes and photos, and Mp3/Mp4 for videos).

The NFT marketplace automatically mints it as a digital collectible. Details of the accepted payment methods, a banner image, bidding deadline, description, name of the NFT, price, and tags are mentioned. The artists can also update their profiles with photos and social media account links.

Content creators can choose between declining-price listings and fixed-price listings for selling their precious NFTs to crypto enthusiasts.

Interested buyers place their respective bids after the start of the auction. Subsequently, artists review all the received bids and select the best offer based on their business requirements.

The content creator informs the concerned buyer about the acceptance of the NFT trading deal. The buyer makes the needed payment to the seller. Sellers receive the required payment in his/her crypto wallet.

Sellers transfer the NFT directly to the buyer’s digital wallet. Finally, the NFT marketplace completes the trade successfully.

What are the must-have features in an NFT Marketplace?

Live auctions – Many NFTs can be sold to prospective investors through the Live auction option. It contains information like names of the NFT and seller, payment methods to use, a photo, price, number of bids made by other buyers, and time left for bidding.

Trending Collections – Certain NFTs get a high selling price if they are showcased in the Trending Collections section. Useful insights like average price, characteristics of the crypto collectible, name of the seller, total supply, and trading volume are shared with interested investors.

Acceptance of numerous payment methods – Apart from popular crypto wallets like MetaMask and MyEtherWallet, an NFT marketplace will strike gold in the market by accepting payment options like credit cards, debit cards, net banking, and wire transfers from buyers.

Provision of 24×7 customer support – Entrepreneurs can boost their retention rate by offering round-the-clock technical support services to content creators and investors. This ensures that all issues related to bidding, payment processing, and trading are solved quickly.

Sharing of instant notifications – Investors make the best NFT purchasing decision by receiving the latest information through email alerts and push notifications. Additionally, they will know real-time data about the launch of hot collections, new NFTs, and upcoming auctions.

What are the top 3 trending NFT marketplaces in the industry now?

CryptoSlam – It operates on the robust WAX blockchain network. CryptoSlam offers real-time purchase options for investors. Buyers can deal in crypto collectibles listed on both the Ethereum and Flow blockchain networks.

It also shares a detailed list of the top-selling NFTs sold on CryptoKitties, CryptoPunks, Gods Unchained, Meebits, NBA Top Shot, and Sorare. Overall, CryptoSlam tracks the performance of 50 different NFT marketplaces across 3 blockchain networks.

Waxplorer – It is an NFT explorer that runs on the WAX blockchain network. Waxplorer has processed 48,790 peer-to-peer (P2P) transactions in the last 1 month. It sells NFTs as individuals, collections, and packs through active listings to buyers.

Myth.Market – It has grown significantly in the last 1 month. The online platform processed 8680 P2P transactions worth a trading volume of $4230. Myth.Market sells popular digital trading cards to investors through 5 Featured Markets. Buyers can purchase NFTs from Blockchain Heroes, GoPepe, GPK, KOGS, and Shatner markets on the WAX blockchain network.

How to build an NFT Marketplace?

An NFT marketplace development company creates a crypto collectible selling platform in just a few days or weeks. It includes stages like business analysis, market study, UI/UX designing, deploying the smart contract on the blockchain network, adding all needed features in the front-end and back-end, testing its performance and security, launching the NFT marketplace, and implementing aggressive digital marketing campaigns.

Bug fixing, issue of software upgrades, maintenance, and technical support are also available. They denote the post-deployment services as part of NFT marketplace development solutions.

NFT Marketplace development Cost

The total cost of creating a modern NFT marketplace depends on factors like features, the overall level of customization, hourly rate paid to developers, tech stack, time taken for development, and third-party API integration.

Wrapping Up

Above all, the crypto industry is thriving now with the entry of new NFT marketplaces like Artemis, AvatarArt, Binance, Bundles, BuyUcoin, Collectible, eBay, Elitium, Hoard Exchange, KWON, LATOKEN, Nafter, VANCAT, and xSigma.

This indicates bright times for entrepreneurs aiming to set up their own NFT marketplace. Nonetheless, they can pocket huge revenue from auction fees, bidding charges, charging a commission from content creators for every primary and secondary sale of NFTs, gas fees, listing charges, minting fees, registration charges from artists and buyers, and transaction processing fees.

Hence, you can join hands with a reputed NFT marketplace development company now and get positive business results soon.

Also Read: 3 NFTs Worth Investing In Right Now

NFTs Worth Investing

3 NFTs Worth Investing In Right Now

When it comes to NFTs, follow your passions, not the market

NFTs are having a huge cultural moment right now.  In March 2021, digital artist Beeple sold one of his NFTs for $69 million.  Zoë Roth, who became internet famous in the widely shared “Disaster Girl” meme, sold an NFT of the original photo for almost $500,000.  And New York Times columnist Kevin Roose sold an NFT, of his article about NFTs, for $560,000.  In short, NFTs are leading to big paydays, and a lot of people are cashing in.  But what exactly are they?

Understanding NFTs

NFT is an acronym, short for non-fungible token.  Before we dissect what non-fungible tokens are, it’s important to understand the concept of fungibility.

Fungibility means that an asset can be traded or interchanged with other assets of the same type.  For example, a one-dollar bill is fungible.  Let’s say Person 1 loans Person 2 one dollar, and Person 2 pays back Person 1 using a different one-dollar bill.  It doesn’t matter that Person 2 paid his debt using a different dollar bill – a dollar is a dollar as long as it’s the same currency.  Regardless of what dollar bill you have, you still have one dollar.

Non-fungible assets are the exact opposite.  If Person 2 takes Person 1’s yorkie for a walk and brings back a different yorkie, there’s a problem.  Yes, Person 2 has brought back the same dog breed, but they haven’t returned Person 1’s specific dog.  Thus, non-fungible assets are unique, and their value lies in the fact that they can’t be interchanged for other items.

This brings us to NFTs.  NFTs are essentially proof of ownership and authenticityof digital goods.  They can be sold for money, like rare artifacts or pieces of art, but not traded like cash or stocks.  Most NFTs are logged on the Ethereum blockchain, which serves as a decentralized and trustworthy record of who owns each NFT.

As an example, the person who bought Beeple’s $69 million NFT is the only person who holds that NFT and that transaction is logged on the blockchain.  The owner can’t simply trade the Beeple NFT for another NFT; they’d lose money and receive something far less valuable in its place.  Instead, the owner can hold onto the Beeple NFT, wait for the price to increase, and then sell it to the highest bidder.  Essentially, NFTs are investments, with each one serving as a unique piece of digital property.

The Best Approach to NFTs

Now that you know what NFTs are, this begs the question – what are the best NFTs to buy?  Unlike the stock market or the art market, NFTs are relatively new.  The industry hasn’t been around long enough to produce trends or enough data for analysts to identify NFTs with the most long-term growth potential.  That being said, it’s best to follow your gut and purchase tokens that align with your interests.  Below, you’ll find three popular categories that have something for everyone:

  • Artwork: If Beeple’s big sale has you hunting for the next digital art phenomenon, try LiveInPeace. “Rare Rose”, one of her NFT offerings, has a gothic feel and shows several men attempting to climb a summit in pursuit of an illuminated rose.  The skeletons lying on the mountainside suggest it’s a perilous journey, one of life or death.  There’s also “Gust of Flowers”, an animated tornado of bright flowers, punctuated with playful colors and eye-popping graphics.  Get in now – both NFTs’ values are sure to skyrocket.
  • Sports: For avid sports fans, NFTs have become digital trading cards. But instead of highlighting a player’s stats, they commemorate specific moments.  NBA Top Shot features a full-fledged marketplace full of digital collectibles that are released in periodic drops called packs.
  • Pop Culture: In early March, Twitter co-founder Jack Dorsey sold an NFT of his first tweet through a platform called Valuables, for nearly $3 million. For people who can’t get enough of their favorite pop culture moments, NFTs are a way to lay claim to social media posts, YouTube clips, songs, and more.

Like cryptocurrency, NFTs have created a new way to build wealth, and we’re just learning about the market’s potential.  If you’re hunting for a novel way to invest, NFTs just might be for you.