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How to create an NFT marketplace on Solana? | by BlockchainX | Nov, 2022

Typically, all NFT market players follow the same procedure. First, the user must create an account on the site and connect his cryptocurrency wallet to it, which is used as a place for storing created and purchased NFTs and as an authorization key on the website. After that, users can create their own NFTs on this site and attach to them ( video, images, gifs, audio, texts and other ) files that they want to tokenize.

  • Art. The most obvious option, as it is the most popular and developed NFT market. Many beginners and famous artists can use NFT to sell their digital paintings and / or copies of their original — paintings is simple, profitable and becoming more popular.
  • Video games. The second most popular NFT — is the sale of game characters and items. True, so far almost all such markets — is just an addition to the video games ( method of their monetization ). Today, there is not a single popular NFT marketplace that would trade NFTs from various gaming projects. You may be the first.
  • Real estate. This is the most exciting idea for developing an NFT market play, as it allows you to sell it as easily and quickly as digital copies of video games. Tokenization of such transactions will make them much cheaper, since blockchain will allow to remove many intermediaries.
  • Collection. NFTs can be used to present digital collectibles in the same way as conventional collections of physical cards ( sports, gaming, philately and more ). It may seem unpromising to you, since you can create as many digital cards as you like, but practice shows otherwise: on the NBA Top Shot platform in February 2021, the NFT LeBron slam dunk card was sold for $ 208,000. And this is far from the most expensive sports card.
  • Event tickets. Scalping, fake tickets, lack of standards, high cost of servicing — serious problems in the sports, music and theater business, and all of them can be solved using blockchain and NFT. More about this in the article:
  • Music. Musicians, like artists, can now token and publish their work in the form of non-replaceable tokens thanks to blockchain and smart contracts. This will expand the range of opportunities available to artists for monetization and profit from their music, as well as other content related to the music and image of the artist.
  • Science. In May 2021, the University of California at Berkeley announced that patents for two Nobel Prize medical technologies, — CRISPR-Cas9 gene editing and cancer immunotherapy — will be sold using NFT. Now such things are sold through auction houses, which is long and inconvenient, which creates the ability to launch the NFT platform.
  • Commission monetization model. This is the most common model on all online markets, including NFT marketers. It involves charging a small commission ( from 1 to 15% ) from suppliers with each successful transaction completed via the NFT platform. In other words, the store administrator will make a profit by taking part of the sales revenue of users of the trading platform.
  • Subscription Monetization Model. If there is enough traffic on the trading platform, you can consider the subscription model, the fee for which will be charged once a month, six months or a year. This approach is not used so often, because for this your trading platform should have an important advantage over competitors, for example, access to very rare and popular NFTs that can only be bought on your site.
  • Freemium monetization models. This is an approach in which the platform offers both free and paid services. Usually this means that anyone can trade on the site, but free participants are limited in functionality, for example, they can only make 10 transactions a month, or their offer does not look so attractive, like paid cards.
  • Lid reward model. The most common monetization strategy for online market-based markets. In it, NFTs suppliers will pay a small amount for each visitor to their page in the store, as happens when paying for contextual advertising.
  • Listing pay model. Another popular monetization model involving the collection of a small amount or percentage of the cost of each NFT put up for sale on your marketplace. In this case, fees are charged regardless of whether the lot has been sold or not.
  • Programming languages for web: Angular.JS, React.JS, and Vue.JS.
  • Programming languages for mobile: Java, Kotlin for Android, and Swift for iOS.
  • Architecture: MVVM for Android and MVC, MVP, MVVM, and VIPER for iOS.
  • IDE: Android Studio and Xcode for iOS.
  • SDK: Android SDK and iOS SDK.
  • Frameworks: Spring, Symfony, Flask.
  • Programming languages: Java, PHP, Python.
  • Databases SQL: MySQL, PostgreSQL, MariaDB, MS SQL, Oracle.
  • Databases NoSQL: MongoDB, Kassandra, DynamoDB.
  • Search engines: Apache Solr, Elasticsearch.
  • DevOps: GitLab CI, TeamCity, GoCD Jenkins, WS CodeBuild, Terraform.
  • Cache: Redis, Memcached.

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