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Physically-Redeemable Token NFT Marketplace Development

Physically redeemable NFT has become popular due to the benefits and business opportunities it offers.

NFT Marketing Agency

 

Imperative Demand and Immense Growth

The world is moving rapidly towards the digital and decentralized platform to avail its benefits. With the rise in the positive response and the development in the digital world and technologies, the negativity is growing equally. There are several hackers trying day and night to hack a platform and steal data or money. Blockchain technology is a popular concept currently. Non-fungible tokens are a way to stop these frauds on online platforms and verify the authenticity and ownership of a certain asset.

The main reason for the success of NFTs is their feature to verify ownership and uniqueness. As NFTs are unique assets, people who are fond of rarity are attracted towards it the most. NFTs gain enormous attraction in the first few months of the year 2021. It has become one of the most in-demand terms in the crypto world.

What is a physically redeemable NFT Token

Non-fungible tokens are smart contracts that possess the properties such as uniqueness, scarcity, and royalty of the digital assets to verify the ownership of those assets. Individuals can buy, sell or display the NFTs in the auctions through online platforms and can use centralized money or cryptocurrency for making payments.

Blockchain is the next new Mine with NFT as the next new gold! Let's dig together

What benefits do Non- Fungible Tokens offer?

Transparency

NFT is developed using blockchain that provides full transparency. These platforms allow you to have a glimpse of what is happening behind those user interfaces. This helps in developing a trustable platform the users can rely on confidently.

Offers Liquidity

One can get immediate liquidity soon after owning the NFTs. People can avail the benefit of liquidity by selling the NFTs at higher prices. The process of selling is simple as the owner just has to decide the value of the NFT and wait for the customers to buy it.

Security

Blockchain technology is known to be a trustable method to protect a platform as it is too complex to be hacked easily. A decentralized environment provides complete privacy from anyone’s interference as well as full security.

Investment Opportunity

NFTs offer several opportunities for investors to gain enormous profits easily.

Branding Outreach

The NFTs related to the celebrities such as an autograph of a famous personality can contribute immensely to benefit the consumer market as well as the reach of your product to an enormous audience.

Royalty

NFTs use smart contracts created using a blockchain platform. Through this contract, the owner of an NFT gets rewarded when his NFT gets circulated in the market.

 

Proof of Ownership

The blockchain technology used in NFT platforms keeps track of the transactions and other data being processed. Through this technology, it is easy to identify the owner of the NFTs. The Owner of the NFT has all the rights on his assets.

 

Use of NFT as Collateral

Certain platforms are being used as a way to obtain cryptocurrency loans in exchange for the NFTs collaterals. When someone on the platform will agree with the deal you are offering, you will get your loan instantly in your account. A smart contract makes the entire process trustable and convenient. The borrower needs to return the loan at a certain time or as a consequence, he will lose his ownership over the NFT. This method makes the NFTs a worth investing platform.

Difference between Physical NFT and Digital NFT

NFT Physical Assets

Digital NFT

Digital assets are also known as Intangible assets which are an integral part of the NFT marketplace. It started with the people who were interested in collecting unique assets. However, certain features of the NFT marketplace make it desirable for individuals. Several businesses and industries are using this platform to avail huge benefits it. The content creators and artists are the main contributors in the NFT industry where they get benefited by tokenizing their content or work. The NFTs are also being used widely in the gaming industry. They provide the users a decentralized experience. They get a real-life experience with the use of the NFTs. The users can monetize their assets into NFTs.Also, the AR/VR assets can be converted into the NFT. The tokens will have a unique value and users from all across the world can fetch them easily.

NFT Physical Assets Marketplace

Physical NFT

Physical NFTs are the ones that include tokenization of the real-life assets such as artwork like a sketch or a Bike or anything else as desired. This type of NFT works by representing the assets with a barcode or anything that can digitize the physical asset to make it capable of trading online. The use of physical NFTs is growing exactly as the digital NFTs. By eliminating the interference of a third party or a middleman, this platform is being considered a trustable platform due to the robust security it provides. The ownership and authenticity provided by the platform are attracting an immense number of individuals.

The functionality of a Physical NFT

Physical assets are traded just like digital assets but they are redeemed by the buyer while the delivery of the physical asset. When purchasing the physical asset, the buyer can scan the tag of a certain NFT to inspect its authenticity as well as the transactions connected with it. Each NFT in the blockchain contains information such as transactions, identity, and all the other related data.

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NFT For DeCom

With the rise in the popularity of decentralized finance, traditional finance methods are being considered obsolete. Several industries have begun to accept payments through Defi. DeCom, the fusion of Ecommerce and Decentralized finance together provides a decentralized method for paying expenses online. One of the admirable features of this technology is that your data or activity is not being tracked by a centralized system. With the NFT marketplace that has adopted DeCom, you can have full power to control your information and data. The buyers are allowed to purchase NFTs using cryptocurrency. All the information of the user will stay confidential.

The common structure of the E-commerce website sells a range of products to the users by offering home delivery of the products. Most of them are dependent on centralized finance for the payment of the products. When using DeCom in E-commerce, the seller and buyer will complete accessibility to the data and the cost.

Significant features of Non-Fungible Token

1

Minting

The minting procedure involves a Blockchain-based smart contract. Ethereum is the most commonly used platform for the blockchain in NFTs. The smart contracts integrate some details such as ownership, data, and count of copies of the token. In this way, Royalty is added to the NFT.

2

Asset

The physical and digital assets are two types of NFTs. The physical assets are traded exactly as the digitals ones but the user can see its pictures before buying them and after successful verifications and payments they will be delivered to the buyer. Digital assets are delivered digitally ensuring the unique value of that NFT.

3

Marketplace

Currently, several platforms are available to be used to display the NFTs and the interested customers can buy them using methods such as bidding in auctions. The platforms ensure an easy process of finding and buying the required NFT.

4

Smart Contract

Smart contracts offer the opportunity to insert the values such as authenticity and ownership to the NFTs. The NFTs can be customized to match the seller’s desires.

Different NFTs


Below are a few types of NFts that are being traded through a range of marketplaces currently.

Artwork NFTs

Art is one of the most used sectors in the NFT industry. They can be listed on the marketplace and the customers are allowed to verify the authenticity by scanning the NFTs.

Real Estate NFTs

All the details can be checked by the buyer before buying the Real estate NFTs. The information like the number of owners, the reconstruction, or other related data can be accessed by scanning the NFTs.

Tokenizing Recipes

The NFTs can be made for the food recipes to gain royalties. By converting those recipes of the family food or drinks, one can gain the benefit such as marketing, ownership and many others. They can even transfer to the upcoming generation through it.

Tokenization of music

Music creators are able to tokenize their songs and music clips into NFts to get benefited from the complete ownership of their work.

Our development services

We are experts in developing various NFT marketplaces. You can outstand easily in the market with our flawless services.

High-quality Platform

Our developers strongly believe in quality work and ensure to deliver results that are superior in every aspect. Our platform can handle huge traffic effortlessly that makes it failure tolerant.

Security

We empathize with the fact that an online platform is useless if it is not secured. Using different security features and protocols, security is ensured in the development process.

Support

Our team is readily available to communicate whenever required by our clients. Not only during the process of development but we are approachable even after all the work has been done.

Modification

Our customers can freely discuss all the requirements and alterations they require on a certain platform. We analyze and reflect the modifications according to their desire.

Integrations

We offer integration of third parties as needed. Additional features can be added to the NFT marketplace with it.

Hassle-free delivery

We understand the value of time and deadlines. Therefore, our team makes sure a smooth development process with on-time delivery to the customers.

Transparency

By sharing each detail of the development process, we offer complete transparency to the customers.

Design and Planning

All the planning and designing is done by including the client’s specifications and requirements in mind. The best possible design is done to ensure ideal results.

  • Total Blockchain Experience 4+ Years

  • Total Blockchain Experience 4+ Years

  • Total Blockchain Experience 4+ Years

  • Total Blockchain Experience 4+ Years

  • Total Blockchain Experience 4+ Years