In recent times, Non-Fungible Tokens (NFTs) have emerged as a viable investment avenue for people. These valuable crypto collectibles have an enormous market cap of $23.50 billion along with a whopping daily trading volume of $3.87 billion according to information provided by CoinMarketCap.com.
NFTs have made a big impact in several industries like artwork, gaming, e-commerce, entertainment, fashion, and sports. Many ambitious entrepreneurs are also receiving millions of dollars in funding to set up their own NFT marketplaces.
Similarly, the social media world has also attracted a lot of attention now. Popular platforms like Facebook, Instagram, and Twitter are hubs of different kinds of content like GIFs, memes, photos, and videos. Millions of users spend many hours every day on these well-known social media networks. These technology giants earn huge revenue through strategic advertising and selling of customer data.
The total number of social media users in South Africa is set to increase to a whopping 23.77 million in 2021 and 26.81 million by 2025. A digital revolution is being popularized in the country now and the Momint NFT marketplace will take full advantage of this new trend.
Entrepreneurs can become innovative and storm the market by launching an NFT-focussed social media platform. Some of the existing platforms are BitClout, Momint, Nifty’s Inc, Showtime, Subsocial, Torum, and Views.
The Momint NFT marketplace based in South Africa has got a lot of attention recently after its successful launch on April 30, 2021. It is targeting large-scale usage by artists, athletes, celebrities, content creators, filmmakers, and musicians. The Momint online NFT selling platform is valued at a whopping 30 million Rand (more than $2 million). It is financially backed by Rob Hersov, a South African entrepreneur.
How the Social media NFT marketplace like Momint will be a game-changer?
Content creators can command a high value for their unique work and need not depend on any intermediaries for distribution. The buyers of NFTs from the Momint NFT marketplace can make a hefty profit by reselling the digital collectibles through auctions on secondary markets.
The content developers can minimize their expenses as a high demand will be witnessed to purchase their work without the need for publishing advertisements and sponsored content.
Flexibility is ensured as the content creators can publish his/her work in the form of audio, document, photo, video, and also mix 3D elements with it. The artists get other benefits such as copyright protection and a 1% royalty when their content gets resold in different marketplaces.
The Momint crypto collectible selling platform has also attracted some top sportspersons like cricketer AB de Villers and rugby player Bryan Habana. Highly admired musicians like Goldfish, The Kiffness along with filmmaker, Dan Mace have signed up on the Momint NFT marketplace. They have successfully auctioned their NFTs and fetched a handsome selling price.
The Unique Selling Point (USP) of the NFT-based social media platform like Momint is that the buyers of digital collectibles can purchase them using fiat currency (South African Rand) and not necessarily the popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This will help Momint to boost its market share and target the mainstream economy which has millions of retail investors.
The Momint NFT marketplace uses the sturdy Proof of Stake (PoS) consensus mechanism. This helps it to consume less energy when compared to Bitcoin and Ethereum networks. Creating an NFT and transferring it to the buyer on the Momint platform is 300 times faster when compared to the Visa online payment system.
The Social media NFT marketplace like Momint also does not charge any gas fees for minting crypto collectibles, unlike Ethereum. The platform itself pays all the gas fees for the content creators.
Entrepreneurs aiming to become the king of the NFT-focussed social media world can team up with AppDupe for magnificent Momint NFT marketplace development. Our experienced team will create state-of-the-art Android and iOS apps for artists, content creators and investors.
We will also develop a user-friendly website for conducting NFT buying and selling operations and an advanced admin dashboard to monitor the day-to-day business activities efficiently.
Beat the big players in the social media world with the advanced Momint clone
What are the fabulous features of the Momint clone?
Flexible selling options for the content creators – The artists can sell their crypto collectibles either through auctions or sell them to their favourite fans for a fixed price. They have to pay a flat 12% for auction fees and a mere 0.5% for direct sales charges.
Full compliance with the ECT Act – The Momint NFT marketplace with the guidelines and rules of the Electronic Communications and Transactions (ECT) Act of 2002. This ensures a high level of data protection and privacy for the traders and content creators registered on the online platform.
Special incentives for the buyers and fans – The buyers of digital collectibles from the Momint like Social media NFT marketplace can popularize their collection by sharing it with the whole world. They can invite people to comment and like their purchased crypto collectibles in the form of Shared Momints. The interested fans can also follow the profiles of the NFT collectors to get the latest updates.
A Limit Post option – The Momint clone allows the content creators to publish only a limited number of posts per week. This ensures that creative work gets a lot of attention from prospective investors on the online platform.
Sharing of certificates with the investors – Each buyer of NFT on the Momint online marketplace will receive a digital certificate backed by a robust blockchain network. This serves as proof of their ownership.
Integration with IPFS – When the Non-Fungible Tokens are minted on the Momint Social media NFT marketplace, each file is authenticated by the content creator’s fingerprint. It is stored on the InterPlanetary File System (IPFS), which is an open-source and peer-to-peer hypermedia protocol. All the crypto collectibles are immutable as it is stored in a fully decentralized blockchain network.
A Verified Creator facility – The content creators attain a lot of credibility by verifying their background and identity on the Momint clone. The artists, designers, and filmmakers who have a huge following and develop out-of-the-box content will be given the tag of “Verified Creators” on the online platform.
Implementation of Fundraising campaigns – Special NFTs can also be launched on the Momint like marketplace for supporting different social causes
What is the total cost of Momint NFT marketplace development?
The budget of creating a superb Social media NFT marketplace like Momint is divided into different aspects like business analysis, market research, UI/UX designing, front-end and back-end development, testing, officially launching the platform and implementing promotional campaigns across numerous communication channels.
The development cost will also depend on factors like the choice of the blockchain network, kind of features, the level of customization required by the entrepreneur, the hourly charges paid to the developers, third-party API integration, the total time of development, the type of tools and technologies used, and other services like bug fixing, maintenance, issuing software updates, and technical support.
Why choose AppDupe’s high-quality services for establishing the Momint NFT Marketplace?
We have a well-versed blockchain and crypto development team and are well-updated with the latest trends in digital currencies, NFTs, and social media. Our marvellous Momint clone is very affordable, completely flexible and highly scalable. We ensure maximum positive buzz for the aspiring entrepreneurs by promoting the benefits of the Momint like NFT marketplace across online crypto forums and social media platforms. This attracts the target audience easily.
The Momint Social media NFT marketplace can play a big role in the future growth of the South African economy by aggressively promoting the advantages of digitization. There are a whopping 38.13 million active Internet users in South Africa and 99% of them use different social media platforms directly via smartphones.
Entrepreneurs can bet big on the tailormade Momint clone to allow investors to purchase valuable NFTs from anywhere across the world. The artists, filmmakers and musicians also monetize their content effectively through consistent sales from auctions and direct purchase of crypto collectibles by their fans and followers.
Hence, progressive-thinking entrepreneurs can integrate the benefits of NFTs and social media in their business by partnering with AppDupe for Momint NFT marketplace development.
Be the talk of the industry by kickstarting Momint NFT Marketplace Development
At AppDupe, we know that our customers are Entrepreneurs and keeping them succeeding is what will make us stronger. So, we promise you, Life Time Updates free of charge. Yes, we know that Apple and Google keep coming out with new versions of their mobile OS's and other companies we clone from also keep updating their features and UX to stay up-to-date. We will take care of that for you, leaving you to do what you do best, Win!
Is this legal?
PicMix and PicYou are almost exact clones of Instagram. MyCityDeal and Wimdu are clones of Groupon and AirBnB respectively. The only thing companies can patent is methodology for achieving an action or leading to an end point. If you can figure out another way to do that, without infringing on other's IP, you totally can. We could, so we did.
Disclaimer: Appdupe neither represents nor have any control over the trademarks of ‘Uber’ and ‘Gojek’. We use the terms ‘Uber’ and ‘Gojek’ for a better understanding of our services. Our offerings intend no harm to any organization or individual.