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The Ultimate Guide to Creating an NFT Platform

Are you interested in selling NFTs and engaging your community? Here's our guide to creating your own NFT platform.

Nick Lighter

If you are looking at selling NFTs, then you’ll need an NFT platform. 

It’s the only way to have true artistic freedom.

This is our guide to creating an NFT platform of your own that can allow you to create, sell, and trade NFTs.

Before we get too far in, let’s quickly review a bit of terminology. 

What is An NFT?

In our NFT for beginners blog, we explain that an NFT, or non-fungible token, is “a digital certificate of authenticity, which functions like a property deed or receipt — it proves that ownership of a certain digital item is unique to one buyer. 

The NFT can represent anything: photography, animation, music, literature, and so on.” An NFT can even be an access pass of sorts that allows the owner to gain exclusive perks.

This deed of ownership is archived through a system of records called blockchain. It can’t be altered, and it can’t be duplicated. Your token of ownership, however, can be sold or traded by whoever owns it.

What all of this means is that there is:

  1. A digital record of creation.
  2. A digital record of ownership.
  3. A digital record of sales.

Each one is permanent and traceable. It also means that, because there is a record of creation, the original creator can receive a royalty on the sale of their digital item at any time in the future.

For artists, or for other creators, this means that you can make money from your creation, as well as build a community of fans and supporters who are invested in your work.

What is An NFT Platform?

Market Realist tells us that “An NFT platform is an online space that allows you to purchase, sell, create, or store NFTs. Just as you would use a platform like Google Mail or Yahoo to send, receive, and save emails, NFTs need a place of their own to exist on the internet. There are many NFT platforms available for use, some of which serve a different purpose than others.”

Some of the types of platforms that one can find (or make) include:

  • NFT trading platforms 
  • NFT exchange platforms 
  • NFT selling platforms
  • NFT creator platforms

And, of course, there are platforms that enable all of these. When preparing to sell NFTs, you need to decide what works best for you.

Can I Create My Own NFT platform?

Not only can you create your own NFT platform, but it is likely easier than you think. 

Here is a quick breakdown of the process for creating your own NFT platform to sell NFTs:

Step 1: Decide What You’d Like to Sell

Remember, NFTs can be many things.
Images and videos of digital art are the most popular file types that are being sold with NFTs.

Step 2: Decide What Blockchain Network You Want to Use

Many NFTs are sold on the Ethereum blockchain, but there may be other options you’d prefer. Another popular option is Polygon, which allows buyers to use traditional currencies. 

All blockchains have their strengths and weaknesses. 

On our website, we explain “the advantage of using Ethereum is that this is the "premium" NFT blockchain network and provides access to the most liquidity. The disadvantage is that the NFT buyer will have to pay for gas fees for processing their transaction.” 

“Gas fees” are the processing costs for the computing power to create the token and record. Polygon charges much smaller gas fees.

Step 3: Determine Which Type of NFT Tokens You’d Like to Create

There are several types of token that one can choose to sell. Here’s a link to our guide.

Step 4: Create Your Platform Infrastructure

Once you have determined all of these things, then it’s time to create your NFT platform itself. 

If you have a good deal of coding and web development experience, then you may be able to craft an online storefront that allows you to sell the thing you want to sell, in the blockchain you want to use, and mint the token you wish to mint. Or, you can hire a developer, but it can be costly. 

Your platform will need a mechanism to: 

  1. Accept payment and manage any transaction fees.
  2. Transfer data to the blockchain network.
  3. Update a listing status for your NFT.
  4. Manage the digital assets by itself.

Step 5: Commission Help Creating an NFT Platform

For those without significant coding experience, then it may be best to work with a partner like RareCircles

We have systems in place that can handle all of the above, as well as tools to make a beautiful platform site for your NFTs. We can handle different currencies, from crypto to US or Canadian dollars. 

Not only that, but the platform also allows creators and brands a way to engage their NFT holders trhough a simple to use community section. There you can segment users, gate content and much more! 

To learn more about working with RareCircles to create an NFT platform, check out our NFT Accelerator master class. Get early access to our NFT community.

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