An NFT Marketplace is a blockchain-based online platform where you can buy and sell non-fungible tokens (NFTs). The popularity of NFT marketplaces is growing at a fast speed and the prices for NFTs have skyrocketed ever since.

NFT or non-fungible token marketplaces is a decentralized platform where users can create, buy, sell, and store non-fungible tokens. An NFT marketplace is gaining traction in industries such as art, gaming, music, and social networking. It is capturing nearly every market that deals with digital assets. NFT marketplaces have grown into relevance and prominence even further since the arrival of Metaverse projects. 

One of the prime factors to consider before developing your NFT Marketplace project is the niche. But, more than niche, there are various layers to consider such as the NFT storage, blockchain protocol, architecture designing, and others. 

Read More:
What Is An NFT And How You Can Buy NFTs?

Blockchain Platforms

Under are some of the fundamental Blockchain Platforms that you can consider to build an NFT Marketplace Platform:

1. Flow 

Flow is a brisk and decentralized blockchain designed for a new generation of digital assets, games, and apps. The platform is widely being used to create both the NFTs and NFT marketplace with the help of the Cadence programming language. 

2. Ethereum 

Ethereum is one of the most popular platforms when we talk about NFT marketplaces or non-fungible token development. Now it is easier to prove ownership history, as the transaction history and token metadata are publicly verifiable on Ethereum. NFTs become portable across platforms because all the Ethereum products share the common backend process. Also, Ethereum never goes down; so, tokens always be available for sale. 

3. Cardano

Cardano is a popular blockchain platform. It comprises technologies and tools that are required to offer unmatched security and sustainability to decentralized applications and systems. Also, it supports the development of NFTs and other digital assets. 

4. Tezos

Tezos is an open-source blockchain platform for assets and applications backed by a community of researchers, builders, and validators. Tezos supports the development of NFTs and NFT marketplaces by using a pre-compiled FA2 NFT contract written in LIGO smart contract language. 

Storage Platforms

Here are some of the storage platforms that we would like to consider while talking more about NFT marketplaces. Let’s highlight these platforms without any further ado.

• IPFS 

IPFS is a peer-to-peer hypermedia protocol that is designed to store media content in a decentralized way. The media file related to NFTs cannot be stored directly on the blockchain, but the IPFS can store all the data at once. 

• Pinata

Pinata is also one of the well-known storage platforms to upload and manage files on IPFS. It offers security and verifies files for NFTs.

• Filecoin

The Filecoin platform is a decentralized storage network designed precisely to store the most confidential information, such as media files. The storage platform contains everything that a developer will need to get started with decentralized storage for NFTs. After knowing its advantages, Truffle Suite has also launched NFT Development Template with Filecoin Box.

NFT Standards 

Here are some of the main NFT standards are as follows:

• FA2
• TEC-721
• ERC-721
• ERC-1155
• dGoods

Front-end Frameworks

Under are some of the front-end frameworks that be used in NFT Marketplace Development:

• Angular
• Vue
• React

Summing Up

Thank you for reading out this blog and we hope that this blog will help you in getting to choose the right technology for your NFT Development. 

Vidhema Technologies is a renowned IT company having its headquarters in Singapore and other branches in India. We are also offering NFT development solutions around every corner of the world with utmost efficiency and stability. Also, you can read our other blogs on NFT, and afterward, let's connect with us to grow your business together.

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