Skip to main content

Unique App Concepts with Billion-Dollar Potential for Entrepreneurs & Startups

The mobile app sector is in a state of amazing growth, with millions of users actively engaging with apps every day. According to Statista, the global revenue from mobile apps is projected to reach an impressive $935.2 billion by 2023, a significant leap from the $581.9 billion recorded in 2020. This phenomenal growth signifies a substantial opportunity for entrepreneurs and startups to develop innovative apps that can address problems, entertain, or enrich users' lives. However, in this potential, what are some groundbreaking app concepts that could potentially transform into billion-dollar enterprises in the future? Let's explore some of these exciting ideas that entrepreneurs and startups should definitely consider: Immersive AR-guided Exploration App Augmented Reality (AR) technology, which overlays digital elements into the real world, has numerous applications across education, gaming, entertainment, and tourism. There will be 1.73 Billion mobile augmented reality (AR) ac
Post a Comment

What are the steps involved in NFT Marketplace app development?


Do you know you can buy assets in cryptocurrency format? Take an example of an art auction place where the audience bid for the price value of the art and added their asset value. They can later resell them to gain a specific price. In 2022, with the advent of blockchain technologies, users have an option to store assets digitally. These digital assets are known as Non-Fungible tokens, NFT for short, and can be traded on NFT Marketplaces. One can understand it as a marketplace where digital creators list their creations in the form of images, videos, gifs, and other media formats. All of them have a specific value set by the seller and the purchaser's approach/bid them buy in the first place. Let us see more details on NFT and NFT Marketplace.

What is the NFT Marketplace?

NFT Marketplace is the latest hype after the massive success of cryptocurrency trading. NFT Marketplaces are trading platforms where users trade Non-Fungible Tokens. They are digital assets whose value is calculated in Cryptocurrency format. People can now store cryptocurrencies in assets that they can purchase and sell. Imagine you are an artist and have created brilliant art. To sell the art, you can visit the marketplace, list your art and sell it to interested candidates. The purchaser will have got the Non Fungible token having a value in Cryptocurrency format reflecting in their digital wallet. OpenSea and Raible are two of the most popular NFT Marketplaces where users trade NFTs. You can see a list of popular NFT Marketplace apps.

With the understanding of the NFT Marketplace, one can move towards understanding the development process involved in the NFT Marketplace.

NFT Marketplace development

NFT Marketplace development sounds like a tough process, but we are here to simplify it for you to have the right approach towards your next NFT Marketplace app. Following are the steps included in an NFT Marketplace app development.

 

  • First development decision: NFT Marketplaces are complex to build, and so is it's the very first decision. One has to choose from either the existing blueprints or lay the blueprint from scratch. If you are new to NFT Marketplace, it is a good idea to choose a white-label NFT marketplace development method (existing blueprints).

 

  • Analyzing budget and resources: When you choose to start an app development completely from scratch, it costs you more than starting from an existing prototype. Whereas white-label markets are ready-made in nature, you can buy them directly with a wide range of customization possibilities. 

 

  • Selecting Blockchain network: A number of blockchain networks are available to choose from, and the most popular blockchain networks for NFT Marketplace development are Solana and Polygon.

  •  Designing UI/UX for your marketplace: In 2022, having an app without an attractive UI/UX lacks user retention and engagement. A marketplace should be easy to understand, attractive, and easy to navigate for most users to understand.

 

  • Flawless integration: A lot of work takes place on the backend in the marketplace. Selling and purchases of the tokens must be secure and smooth, so the integration of the front end (what we see) and backend (the background operations) must work seamlessly.

 

  • Testing and Deployment: No app is perfect and there are bugs in each of them which is why the testing phase is important so that important bugs can be solved. Once the testing phase is completed, the NFT Marketplace is ready to be deployed and it can be a web app or a mobile app version. Mobile versions are better since people prefer smartphone apps due to their convenience.

Verdict

The development process is complex and it is always a good idea to inform yourself about the steps included in NFT marketplace app development. NFT Marketplaces will see a rise in the near future because it is a safer method to carry digital assets. Now you know the basic information about NFT Marketplace development, you can approach NFT Marketplace development company and sail your marketplace to the audience.

Labels:

Comments

  1. dianenAugust 25, 2022 at 8:36 PM


    Thank you for your post, I look for such an article for a long time, today I find it finally. this post gives me lots of advice it is very informative for me.crypto trading tips

    ReplyDelete
  2. Erma WinterAugust 31, 2022 at 4:39 AM

    This informative post appears to be the best help of NFT Marketplace Development Company. Thanks for such info and keep on sharing such posts with online users.
    Please Read our Blog:
    Top NFT Marketplace Features
    NFT marketplace development guide
    NFT app development cost
    NFT Game Development like REVV Racing
    NFT Game Development- The Future of NFTs in Gaming World
    Top NFT Marketplace Development Companies

    Services- Blockchain Development Company
    Top Mobile App Development Company in India

    ReplyDelete
  3. Naira AllamAugust 28, 2023 at 2:22 AM

    This blog post likely outlines the steps involved in NFT (Non-Fungible Token) development. It might break down the process of creating and deploying NFTs, including minting, tokenization, smart contracts, and marketplace integration. A valuable resource for those interested in understanding the technical aspects of NFT creation and distribution. If you want to know what NFT marketplace development costs, Here you can get valuable information.

    ReplyDelete

Post a Comment

Popular posts from this blog

What makes social media app development a successful event?

The force of social media is developing tremendously and fostering a social media application is a hot trend nowadays. With the social media app market blasting with promising circumstances, as a business visionary, you can't pass up on the opportunity to be important for the quickly developing business sector. In 2020 and then some, novel ideas and new freedoms can be formed into splendid social media applications . Furthermore, with the fast development of innovation, you can rapidly change your social application thought into a digital reality. In case you're thinking about how to make a social media application like Facebook or Instagram that can draw in massive clients, continue to peruse this aide. We will give you definite experiences on angles, for example, interpersonal interaction app development, social media application design ,  mobile app development , and more. We should make a plunge! Some Amazing Stats of Social Media Industry: With the force of develop
3 comments
Read more

What are the Top Enterprise Mobile App Development trends to watch out?

Mobile apps have become an indispensable piece of the cutting edge enterprises app development utilizing every one of the benefits the mobile technology has to bring to the table to upgrade and control the business tasks. As the world has needed to change to far off work for the time is the significance of the mobile technology soar turning out to be in a real sense the solitary way for certain organizations to survive through crisis. Discussing enterprise mobile app development and coordination streamline the work of divisions, digital, and accelerate interchanges inside the companies welcoming everyone in total agreement regardless of how large the organization is. Enterprises apps can be internal and external contingent upon their motivation and key users. Internal mobile apps are utilized by employees working remotely to access corporate systems: for example, warehousing and logistics services. We should now consider the major enterprise app development trends and cover a f
3 comments
Read more

The Need for APIs in Your Mobile App Business

Sending and receiving information is a major requirement in the mobile app development process. Without creating a flexible and fluent channel to exchange information, the multiple elements cannot connect with each other. And as the major feature and functionalities are increasing over time in the market, social preferences, geo-location, and payment integration are becoming a must-have in a large number of mobile apps. To meet these modern trends, there comes the concept of APIs in mobile app development. How do mobile apps use APIs? In the third quarter of 2022, mobile apps and games registered 35 billion downloads . Billions of apps in this number have used APIs. API or Application Programming Interface allows interaction between multiple apps. For example, your preferred food delivery app wants to process your payment. In such cases, it has to connect with your preferred payment mode and send/receive payment-related information. Such a process is made easy through API. Your financ
1 comment
Read more