NFTs or Non-Fungible Tokens have been in the news for quite some time now. At the time of writing this article, the NFT market cap was around $6,677,232, which is susceptible to change with fluctuations in the market. This extraordinary growth has not only resulted in benefiting the owners and creators of NFTs but also the marketplaces where they are being hosted.
NFT marketplaces like OpenSea, Rarible, and Superfarm have become the epicenter of funding and high revenue – a sign that every business model that NFT is touching is turning into gold. But what makes the NFT marketplace the epicenter is the fact that it hosts multiple NFTs – meaning the source of revenue that it opens is much greater than direct NFT creation and selling.
While the pieces around NFT development and the cost it incurs are weeding across the internet, we will dive a bit deeper. In this article, we will look into the cost of NFT marketplace development and what blockchain enthusiast entrepreneurs need to know when they enter the space and develop the NFT platform.
Learn more about cost of nft marketplace development here