Over the past years, the hype for NFTs has skyrocketed among cryptopreneurs. As a small pixelated digital art, they have revolutionized the crypto world. Even though they are popular, there are frequent questions like why are they not bought by a mass number of investors. The reason behind this is, that they are way too expensive for a common crypto investor to buy or trade. When a door is closed, new doors are opened with potential opportunities. In that regard, to ease the common investor’s trading, there come the Fractional NFTs.
Well, we know about non-fungible tokens (NFTs), but what about fractional NFTs?
Fractional NFTs are also non-fungible tokens where the asset is owned by various users ie., a single NFT is bought in fractions. This has become a boon for NFT-craving users. While fractional NFTs were introduced in the market, investors struggled to find them in the usual NFT marketplace. For the sake of sorting out the issue, many startups and entrepreneurs turned their heads towards Fractional NFT Marketplace Development.
As a unique and new type of NFT is distributed, the demand for the Fractional NFT Marketplace has risen within a few years. And, now they have become an unbeatable business model in the NFT world. In this comprehensive guide, we have covered all the aspects of the Fractional NFT Marketplace Development aspects. First, let’s start with…
What is Fractional NFT Marketplace Development?
The Fractional NFT Marketplace Development involves the creation of an NFT Marketplace comprising only fractional NFTs from various genres for trading purposes. In the fractional NFT marketplace, the NFT trader can buy, sell, or trade the fractions of the NFT asset. Though Fractional NFTs also run under blockchain technology, there is no chance of falsifying the NFT ownership, scam, or fraudulent activities.
Fractionalizing the expensive NFTs will help users for the easy affordability of buying the NFTs. Additionally, fractionalized NFTs can be traded independently. This made crypto-minded startups launch a fractional NFT Marketplace with potential functions and features. Like same as the usual NFT marketplace, the fractional NFT Marketplace can also be successfully launched with the help of an NFT Marketplace Development Company.
Once you have chosen the development methodology, without any doubts you can be involved in creating the NFT marketplace. The NFT Marketplace Development company will take over full responsibility for the creation procedure. No doubt about that, but since it is your own NFT project, you must be clear in the step-by-step procedure.
For your understanding, we have given the…
Step-by-step Guide Involved in Fractional NFT Marketplace Development
The creation of a fractional NFT Marketplace is neither a risky procedure nor a lengthy process. With a proper developer team, technical plan, and guidance, you can initiate your NFT Marketplace with ease. The procedure involves,
Be sure about the target – When developing a fractional NFT marketplace, be cautious about your purpose of the creation, your target audience, and the scope of the marketplace.
Decide the Blockchain network – Choose the ideal blockchain platform that will be suitable for your Fractional NFT Marketplace Development. While choosing the blockchain, be sure whether the blockchain supports the transfer of NFTs without any technical errors.
Front-end Designs – This phase will come under your complete control. You are the one to choose the UI/UX design, theme, display, appearance, and integration of your user dashboard.
Back-end Development – Here, you can provide unique features that ensure the security of transactions and authentication of NFT traders.
Smart contract Integration – An important part of the Fractional NFT Marketplace Development involves smart contract integration. As fractionalized NFTs are traded, the smart contract’s programming language must be strong enough to handle the revenue-sharing mechanisms, fractionalization of NFTs, and multiple transactions at once.
Testing and Deployment – After these creation processes are completed successfully, the developer team will run your fractional NFT Marketplace to rectify the technical bugs and errors.
The Fractional NFT Marketplace Development involves a perfect roadmap, guidance, and technical considerations. If you keep these in mind and take over the development process, your NFT Marketplace will become unbeatable in the crypto market. So, before being involved in the creation process, be clear enough. By following these very carefully, many fractional NFT marketplaces have achieved a huge user base and success in the NFT market. Some of the…
Popular Fractional NFT Marketplaces in the Market
Recently, fractional NFTs have been getting the attention and limelight of crypto investors. But, only a very few marketplaces are there in the NFT world to offer fractional NFTs. This has become a lottery for many startups and with pure confidence they launched the Fractional NFT marketplace. Some of them who have achieved huge success are listed below.
- LIQNFT
- Fractional. art
- WithOtis
- Unic.ly
- NFTfy
If you also want to attain huge success like these fractional NFT marketplaces, then concentrate on choosing the development method, developer team, and other criteria that are required to launch a fractional NFT marketplace. Launching a fractional marketplace would be beneficial for NFT traders. But what about the owner who launches the fractional marketplace? Let’s unlock the…
The Benefits of Fractional NFT Marketplace Development
As fractional NFTs are new to the NFT era, the demand for fractional Marketplace is high among NFT traders. So, this will be a perfect time for launching your marketplace which will result in gaining a huge user base. In the Fractional marketplace, a single NFT that is fractionalized is traded among investors. This helps to increase the liquidity and affordability of NFT trading.
The fractionalization of NFTs ensures transparency in asset ownership and value. As fractional NFTs are sold in the marketplace, it paves the way for crypto traders to trust your platform more. Additionally to these, revenue can be generated by the NFT with the creator and the buyer. That will become an extra incentive that benefits both of them. Here, a question might arise,
Can you make profits from the Fractional NFT marketplace?
Absolutely yes, Like the usual NFT marketplace, for listing, bidding, and transacting specific fees are collected. You can also provide additional revenue modules like premium offers, collaborations, and advertisements to reap profits. After seeing this wide range of benefits, you may realize that the cost would be sky-high. To your surprise, the cost of Fractional NFT Marketplace Development is less than your expectations.
Cost for Developing Fractional NFT Marketplace
The average cost required to develop a fractional NFT Marketplace is around $ 8,000 to $ 20,000. This is not the exact cost of the development. Based on the development method you are choosing, the cost varies. Either you can choose a white-label NFT Marketplace software or create an NFT Marketplace from scratch.
When you choose to launch your marketplace from scratch, it will take approximately one year to complete it. And, the cost of developing from scratch will be expensive. For the successful launching of a fractional NFT marketplace, we suggest you choose White-label NFT Marketplace software which saves your time and energy. The white-label software is none other than the replication of the existing successful NFT marketplace.
Hence it is already pre-designed and the time to launch your fractional marketplace will be around seven to ten days. Within your business budget, you can develop your NFT Marketplace without any hassles. In the crowded NFT Marketplace development companies, you have to pick the best Fractional NFT development company that has an innovative team. Then, without any hesitation, you can choose our Coinsclone team.
Why join hands with Coinsclone for Fractional NFT Marketplace Development?
Our team is well-versed in creating the NFT Marketplace and other NFT-related services. To achieve success in the Fractional NFT Marketplace Development, we are providing you with careful planning, guidance, technical support, and 24*7 availability. Our expert team has skilled developers with brilliant minds where innovations are made simple. With our team, we have completed over 90+ crypto projects successfully for our clients with satisfaction.
We assure you that Fractional NFT Marketplace Development will be a frontier business idea that will reap millions within a short span. So, you can be involved in the development process with complete confidence. It is still not too late to launch your NFT Marketplace and compete in the dynamic NFT era.