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What is an NFT Marketplace?
An NFT marketplace allows users (artists, musicians, influencers,
and other content creators) to list, sell, and buy their
non-fungible tokens. Powered by blockchain and smart contracts,
online NFT marketplaces regulate the transfer of funds and digital
assets, involving trading and auctions. As NFTs generally operate
according to the predetermined terms and rules, they work on
networks that support smart contracts (e.g., Polygon, Tron,
Solana). -
How much does it cost to launch an NFT marketplace?
The cost of making an NFT marketplace depends on the time
necessary for product delivery, as well as the software expert
salaries. For example, in the US and UK, hourly rates of software
development companies may reach $50–$150 or even higher when in
Europe it’s $30–$100 per hour. So, an NFT marketplace with basic
feature set costs around $70,000–200,000$. -
How much time does it take to build an NFT marketplace?
It depends on multiple factors such as feature set, blockchain
platform, budget, etc. Generally, time to build an NFT marketplace
with basic features requires around 6 months and more.Read our guide to learn about cost, time, features, and
technologies of custom NFT platform development.
NFT marketplace Development
