You are here for another interesting blog on the cross-chain NFT marketplace and the benefits it carries along. The efficiency of an NFT marketplace is directly linked to various parameters, and the crucial one is the type of blockchain technology used. Imagine your NFT marketplace supporting the trade of NFTs across different blockchains – nothing short of a superior experience for traders. Keep glued to understand further about the cross-chain NFT trading platform development from us.

What Is Cross-Chain Functionality In Blockchain?

In blockchain technology, cross-chain functionality or interoperability is letting the trade happen across different blockchains but from the same platform. When a platform supports such interoperability, then users can enjoy benefits like faster transactions and instant/high liquidity.

When a platform is found to support liquidity and speedy transactions, the number of traders will also increase. So, when it comes to an NFT marketplace, cross-chain architecture will let traders trade their NFTs from one blockchain to another smoothly. 

Benefits Instilled In A Cross-Chain NFT Marketplace

• A cross-chain supporting marketplace will help you attract traders as traders can benefit from the interoperability nature.
• A cross-chain NFT trading platform that lets users access multiple blockchains will ensure instant liquidity, meaning the can sellers can easily find buyers, close the deal and get monetized.
• If your trading platform for NFTs is built on the cross-chain architecture, the number of sales happening will also increase to a higher degree.

 Our Cross-Chain NFT Marketplace Development Solutions 

• NFT Art Marketplace 

Art NFTs will never go out of trend, and the need for an exclusive art NFT marketplace is in demand these days. We have pre-engineered art NFT marketplace development solutions, and you can tailor them as per the features you need. We also integrate cross-chain architecture to make your platform more efficient. Other than developing a usual art NFT trading platform, consider going for launching a personalized NFT studio from us, which is a virtual replica of an art museum.

• NFT Gaming Marketplace

Our blockchain game developers have built immediately-launchable NFT gaming platforms. If you’re aspiring to occupy the gaming market, then choose one from our ready-made NFT gaming platforms – Axie Infinity clone, Gods Unchained clone, Sorare clone, Zed Run clone, etc. And notably, we develop Play-To-Earn games for different gaming categories like the casino, racing, battle, etc.

• NFT Music Marketplace

NFT marketplace for music is a popular one, and many artists across the world have already launched some of their music NFTs. With the effect of music NFTs, artists are able to monetize their works and distribute them to their audiences without any middlemen interference. We let you specify the customizations for the trading platform, from UI to features to blockchain tech to be used. 

Accessing The NFT Marketplace – A Quick Overview

• Sign Up

The sign-up process comprises registering the user’s email address and adding their crypto wallet details to get integrated with this trading platform.

• Listing NFTs

Creators will start by uploading their NFTs to mint in order to convert them into NFTs. Post the NFTs are minted, they’ll get listed on the marketplace under the respective category.

• Determine The Sale Price

The NFT seller should determine the price for which they’d want to sell their NFTs. Alongside, they can specify the cryptocurrency the buyer should pay for buying the NFT.

• Buying 

The sale might happen either through auction and bidding or fixed price. Of course, the seller will decide on the same. Upon the completion of the trading process, the chosen NFT will be sent to the buyer’s wallet.

What Are The Monetization Methods Available Through An NFT Platform?

• Listing Fees

Every NFT sellers list their collectibles on the platform; they have to pay the listing fees. 

• Transaction Fees

Since the platform acts as the medium for facilitating the entire trading process, transaction fees will be deducted from the buyers.

• Auction Fees

When sellers choose the auction method for selling their NFTs, they have to pay the auction fees. 

What Are The Blockchain Technologies We Support?

Since we have been discussing the concept of cross-chain trading, you should know the blockchain technologies we are experts in.

• Ethereum
• Avalanche
• Hyperledger
• Binance Smart Chain
• TRON
• Cardano
• Polkadot
• Solana 
• Stellar 

Final Thoughts

The concept of a cross-chain marketplace is still in its infancy, meaning there aren’t many prominent marketplaces that support interoperability. Hence, turn this to your advantage and get the marketplace developed from our cross-chain NFT marketplace development company.