NFTs & NFT marketplaces :
NFTs’ enormous boom has led to the surging number of NFT marketplaces in the past few years. NFT trading has grown 8 times more during its boom in 2021 and is expected to grow multifold in the future. These NFTs are traded on various decentralized marketplaces built on different blockchain networks. A wide range of blockchains are available on the market; some are Ethereum, TRON, Avalanche, and Solana. Among them, Avalanche has started to gain popularity as a blockchain. Let's see why there is a surge in NFT marketplace development on Avalanche.
Avalanche
Avalanche is more efficient and effective than other blockchains. It operates on the Proof- of-Stake mechanism with smart contract functionality. It has been eminent since its inception in 2020 due to its unique features. The commonly used blockchain for building NFT marketplaces is Ethereum. One of the newly-emerged blockchains which have many long-term advantages as compared to other blockchains on the market is Avalanche.
NFT marketplace on Avalanche
NFT marketplace is the place where NFT enthusiasts can trade NFTs seamlessly. For the seamless functioning of this marketplace, features such as search, filters, wallet integration, storefront, and more are required. With faster transactions and no network congestion, Avalanche is slowly becoming the preferred network for building NFT marketplaces.
Why Avalanche?
- Since Avalanche runs on the Proof-ofStake protocol, the transaction charges are lesser than those on other blockchains. The transaction speeds achieved will also be faster.
- With sharding, multiple subchains can be created with or without permissions, which can help businesses work on numerous projects without jamming the main chain.
- The marketplace built on Avalanche will be secure, scalable, and decentralized.
- Avalanche supports Dapps which ensures faster transactions. With its built-in components like virtual machines, subnetwork models, and Ethereum standard RPC calls, Avalanche can surely enhance user experience and increase transaction speeds substantially.
- Every built in component increases the performance of the Dapps;Each and every component determines including VMs determines how the blockchains works.
- When someone buys AVAX tokens early, they can join the network and can become a validator.
The growing demand for Avalanche
Avalanche has its native currency known as $AVAX. It has had steady growth since its emergence. Avalanche also has its own consensus, called Snow. It has a unique functionalities with its protocols consisting of Avalanche, Frosty, and Snowman.
Roadmap for creating a marketplace on Avalanche
- Creating a marketplace on Avalanche is similar to creating a marketplace on any other platform..
- First, decide on the niche of the marketplace. It can be anything from art, sports, music, or even games.
- Customize features to give the users a seamless experience in finding and trading NFTs and NFT collections of their choice.
- An intuitive UI/UX design provides an easy-to-use interface, enabling users to search through various categories of NFTs.
- Approach a White label solution provider for building a marketplace on Avalanche because building a marketplace from scratch on Avalanche can be tiresome.
- After testing the marketplace for glitches and errors, the NFT marketplace can be successfully launched. Keep upgrading the platform for an enhanced and updated user experience.
To conclude, if you're a blockchain enthusiast looking to build an NFT marketplace, Avalanche should be a safe bet for you. Many NFT marketplaces on Avalanche have started gaining prominence and acclaim among NFT audiences. Creating an NFT marketplace on Avalanche from scratch can be tedious; hiring an NFT marketplace development team can help with building an NFT marketplace on Avalanche.
