NFT Marketplace

5 Key Trends Boosting NFT Marketplace in 2022

NFTs were created in 2014 and since then there has been a buzz for virtual tokens. In 2021, it reached the boom and more people in the NFT community started looking for NFT applications.

A significant proportion of the success of NFTs is attributed to NFT marketplaces such as OpenSea, Rarible, and more for selling NFTs. Then there are NFT marketplaces like Sandbox, Decentraland, and Nifty Gateway catering to a specific category of audience.

Here are some NFT marketplace development trends that will dominate the market in 2022.

● Multi-chain NFT Marketplace

Multi-chain marketplaces run on multiple blockchains to target a wider audience. Recently, there has been a significant rise in NFT marketplaces built on cheaper and faster networks.

These platforms initially start operations on Ethereum. Interestingly, no multi-NFT marketplace works on two chains or just works on the initial blockchain’s other layer. The costs of multi-chain NFT marketplace development are higher, but the seamless connectivity, unique abilities and low gas fees have made them quite popular.

They support trading in multiple networks to allow teleporting of NFTs across different blockchains. But you need significant resources, money, and time, to get an NFT platform with cross-chain capabilities.

● Gaming NFT Marketplace

Since the boom of NFTs, the in-game marketplace has existed. But now more play-to-earn games have started coming. Sorare, Axie Infinity, and F1 Delta Time are some of the best performing marketplaces. They have created a buzz in the market and enable users to earn rewards that can be easily monetized.

Usually, this gaming NFT marketplace provides players with rewards in the form of cryptocurrencies or in-game assets such as avatars, weapons, energy boosters, vehicles, and many more. Users can easily buy and sell their in-game properties at reasonable prices on the p2e NFT game development marketplace.

● Metaverse-based NFT Marketplace

Metaverse is quite famous since Facebook, now named Meta, declared its foray into the virtual world. There are various metaverse-based games such as Sandbox and Decentraland, offering a great decentralized experience by offering a platform without rules created by any central authority.

These marketplaces have high-texture graphics to give a real-world feeling, and the platforms include algorithms and tools for enhancing the resolution of the graphics. Moreover, they have an enhanced storage medium to enable users to have a wide range of assets with the same efficiency.

● Cross-chain NFT Marketplace

This marketplace allows users to work across various blockchains ensuring interoperability to increase their user base irrespective of their network. The cross-chain functionality comes with NFT’s tamper-proof nature to build trade credibility and trust in the users.

In addition to this, multiple blockchains enhance liquidity as at any given time there will always be someone active on any of the blockchains to buy or sell. In addition, users can work across the cross-chain NFT marketplace without any performance issues on any device.

It comes with a storefront, which makes it quite similar to an e-commerce platform with trending features and information to give complete details of the NFTs, including additional information and its protocols to verify the NFT’s originality. Along with this, it has a search bar to help users easily find what they are looking for with various filters to enable easy navigation.

●Celebrity NFT Marketplace

Celebrity NFT website development gained momentum in late 2021 when creators and celebrities started posting and boosting their social media platforms.

Some stars such as Snoop Dogg, Amitabh Bachchan, and many more who saw potential in social media platforms, started their own marketplace to display their NFT arts. They also provide exclusive sessions to get closer to their fans.

This NFT marketplace serves as a great platform to bring celebrities and fans closer while providing celebrities with a platform to tokenize their valuable assets into NFTs.

Final Words

These are the popular marketplace types that are anticipated to rule the NFT market. If you are planning to build an NFT marketplace, we can help.

Our subject matter experts and seasoned blockchain engineers provide business-oriented, diligently-crafted services to help you launch your NFT marketplace. Whether you need a metaverse-based NFT marketplace, a celebrity NFT marketplace, or any other marketplace, we help you achieve your business goals. Our experience and expertise have helped us position ourselves as a reliable and preferred NFT marketplace development company.

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