What Are The Development Trends And Business Opportunities Of NFT? — NFT Market

[Boopathi 0]

The fun, engaging, and entrepreneurially inclined lucrative part of this NFT revolution is that we haven't even scratched the surface yet. It presents a lucrative business opportunity for anyone looking to start their own NFT marketplace.

While it is undeniable that the business idea itself is nascent, there are a few mature and popular NFT marketplaces that have shown in their own way how to build the perfect NFT marketplace by incorporating the best features they have to offer, and of course by eliminating their defect.

Let's take a look at different NFT marketplaces and how you can get inspired by their ideas to develop your own.

➥ NFT marketplaces like Rarible

Rarible has become synonymous with the NFT marketplace. It may be the first established brand to soar in popularity, making it a common ground for creators and art collectors to collaborate in the digital space.

It is no exaggeration to say that Rarible laid the groundwork for a mini NFT market that can be considered a market leader today. Perhaps, Rarible's biggest selling point is its simplicity and intuitive user interface, making it a breeze to use even for the unskilled. This ensures that artists are not dependent on any outside talent to showcase their art on Rarible.

NFT marketplaces like OpenSea

OpenSea is right behind Rarible in terms of popularity in the NFT marketplace. When 20th Century Fox teamed up with OpenSea to sell a special edition digital poster of Deadpool 2, you knew OpenSea was a famous name.

OpenSea has shown the world that there is no saturation point in the cryptocurrency market. In this vast ocean, peaceful coexistence of two big fish is possible.

➥ NFT marketplaces like SuperRare

SuperRare expands the practical value of the NFT market. Rather than functioning as a marketplace, limiting itself to transactions, SuperRare extends its utility to social networking. This means that on a marketplace like SuperRare, sellers can interact with creators, and both sellers and creators can form communities to discuss NFTs, their transactions, value, and the market as a whole.

➥ NFT marketplaces such as PolkaCity

In addition to being a marketplace for NFTs, PolkaCity is more like a decentralized financial platform. PolkaCity expands its utility by creating virtual spaces where users can purchase various assets in the virtual city, presenting a complete virtual experience, including taxis, police stations, and services.

You can invest in these virtual assets and they will bring real world returns. PolkaCity is the perfect amalgamation of everything blockchain technology is capable of, including decentralized finance, NFTs, and of course virtual worlds. The PolkaCity ecosystem has its own token and is built on top of Ethereum.

➥ NFT market, such as funds

They make it clear on their website that their goal is to give these people a taste of the creative economy. The fact that it is named "Foundation" speaks volumes about the platform's vision and mission for NFT creators and collectors.

➥ NFT marketplaces like DecentraLand

The biggest revolution that NFTs have brought to the cryptocurrency/blockchain world is that they do not limit themselves to pure transactionality. DecentraLand is a good example. DecentraLand is essentially a 3D virtual reality platform powered by Ethereum. It’s not even two years old and it’s already making waves in the cryptocurrency world. It’s also a great example of how even some of the most unexpected countries like Argentina can produce famous NFTs and decentralized virtual ecosystems.

DecentraLand also shows that a good NFT marketplace with a vision can attract investment from some powerful names. In June 2018, a digital real estate investment firm paid nearly $1 million for 259 plots of land in DecentraLand, whose vision is to create a city in the style of a shopping district in Tokyo.

➥ NFT market is like Gods Unchained

Gods Unchained, as you probably already know, is a digital card game that gives players true ownership of their collection. It also provides players with the convenience of trading on the open market. Each guard on Gods Unchained is essentially an NFT on Ethereum.

One of the earliest use cases of NFT is in the field of games, which aims to decentralize game assets and create a complete game ecosystem. Gods Unchained is a great example of how the gaming world can benefit greatly from NFTs, and can even grow so large that it could become an independent NFT marketplace.

➥ NFT market, such as NBA Top Shots

The National Basketball Association's entry into the NFT bandwagon is one of the most epoch-making moments in the history of basketball and NFTs. NBA Top Shots helps buy moments or short videos from games and give fans ownership of them. The fact that the NBA has officially endorsed it can be considered a giant leap since it is sponsored by a prestigious sports body.

If every country and every game brought an NFT marketplace Development like NBA Top Shots, it would open the floodgates for engagement and monetization.

➥ NFT market, such as Atomic Market

Atomic Market, as the name suggests, is a shared liquidity market smart contract used by multiple websites to provide the best user experience. This can be considered one of the most important leaps forward for NFTs and the entire cryptocurrency world. Instead of creating marketplaces alone, some businesses have been working to create smart contracts to facilitate easier trading of NFTs.

➥ NFT marketplaces such as Nifty Gateway

For every Toyota, there's a Lexus. This is exactly the positioning of the NFT market mentioned above. In a world of marketplaces that have sprung up after rain, this marketplace claims to be the premium marketplace for NFTs. This opens up new possibilities, as the world of digital collectibles necessarily draws a line between what can be considered a consumer asset and a premium asset.