To Sell And Purchase Digital Products
Transactions with NFTs take place on specialized marketplaces, most of which operate on Ethereum blockchain in the auction format. In Merkeleon we know how to integrate auctions with tokens and make this combination triumph.
Ordinary tokens are fungible, whatever their design or year of issue. But an NFT technology resembles Malevich’s Black Square: it is just as impossible to exchange one NFT for another as to exchange Malevich’s masterpiece for another picture of a black square. The unique nature of NFT makes it a valuable asset that attracts investors and developers. In Merkeleon we can’t stay uninvolved. We build NFT marketplaces skilfully and quickly.
Exchanges Launched Worldwide
Auctions Launched Worldwide
Years in Auction Solution Development
You can combine auctions and marketplaces on a single site. For improved user experience, introduce single-sign-on (SSO).
In addition to usual buy-now options, implement algorithms for auctions on your portal.
Embed several fiat and crypto currencies and make transactions instant with the integrated crypto processing algorithm.
To increase integrity for buyers, employ ticket and KYC tools to minimise risks and ensure security.
Anything that claims to be unique can be turned into an NFT and sent to the marketplace platform: music, images, texts, videos, 3D models, collectibles, securities, even tangibles.
TOP-1 NFT project is not the famous CryptoPunks or NBATopShot, but a Pokemon-inspired game where players foster monsters – Axie. Each of these monsters is an NFT. You can combine these monsters and get new NFTs, trade them at an NFT exchange and so much more. The current trading volume in Axie Infinity exceeds $1.7 billion
NFTs have become especially popular among artists. Thanks to this technology now creators can escape intermediaries, like gallery owners, professional community, curators. Now everyone can become an artist and sell their creations by digitizing their work into NFT and putting it up for auction. Sales can also bring royalties
NFT may become the basis of the metaverse economy. Firstly, in the metaverse, we need to constantly confirm ownership. And NFT is just what we need for that. Secondly, business. For entrepreneurs, efficient monetization is the key. And here again, NFT comes to the rescue: tokens can be a pass to a private club, to an event or another planet
In the world of collectibles there is even more money. We can recall the most expensive NFT: the digital work Everydays: The First 5000 Days by Mike Winkelmann, worth almost $70 million, the baseball card T206 Honus Wagner, sold for $3.25 million, the Merge project, a record holder, that brought its author $91.8 million
Music is not mainstream in the NFT world. Yet, the music industry has jumped at the opportunity to add something to the hype. For instance, Universal Music Group is experimenting with virtual NFT bands and Bored Apes. Artists like Grimes and 3LAU have sold more than $1M worth of NFT, opening up a whole new revenue stream
There are two ways: athletes themselves become objects for NFT and NFTs as a business. In the first category, sportsmen sell their own NFT, like American football player Patrick Mahomes, who launched the “Museum of Magicians” about himself. The second category goes for business. The NBA already exchanges cards with NFT tokens
Most NFT games are Play-to-Earn. The economy of most Play-to-Earn games has its own in-game currency, which, in fact, is the same cryptocurrency as, for example, ether or bitcoin. Players can earn this in-game currency by receiving rewards for completing quests, or for defeating rivals in battles and competitions
The new form of NFT can radically change the way tickets are sold for events. In fact, NFT now allows tickets to be a direct link between performers and fans. Traditional online ticket sales are usually managed by a third party responsible for distributing tickets and tracking sales. Now NFT becomes the cost of a seat at an event
A promising area for NFT is the tokenization of real estate. Shared ownership is another way that can drastically change the principles of investments, when it comes to such expensive assets as real estate. The current challenge is the transfer of ownership that requires tons of paperwork. NFT can eradicate this issue
NFT can use blockchain technology to verify documents and certificates. This can be a car licence, degree, medical card, etc. NFT can work as a confirmation of origin or identity. Due to the blockchain technology, NFTs may be used to mark and record events and facts from both the real and digital world
NFT is spread in games as a local currency. Many artists release their creations as unique tokens and sell them to collectors, along with auction houses that joined the trend. NFT is also a way to confirm rights
Creators can start their own online website connected to a blockchain to sell their creations and get extra revenue. Moreover, this is how artists get closer to their fans, offering privileged tokens on NFT marketplaces, like VIP access, limited editions, exclusive content.
Brands and affiliates can effectively collaborate to create and trade their assets on an NFT platform. It wins customers' loyalty, empowers your company with digital swag, promotes your philosophy online and incentivizes them to visit, buy, and share.
Even though buying a unique token does not establish sole authority on it - users can still download these files from the Internet - its real value lies much deeper.
A blockchain registers forever the fact that it is you who purchased this asset.
All unique coins remain in a digital environment that makes them destruction-resistant.
Buyers can resell NFT on a top marketplace at a higher price; creators can gain interest from secondary market sales.
You can adjust your NFT marketplace that will fit your own business requirements, removing impractical details and incorporating complementary solutions. The Merkeleon inventory offers:
NFTs under user’s control; transactions without intermediaries
Smart contracts can either limit or expand the working process with NFT tokens
User balance refill via preferable payment methods, secured by the marketplace escrow mechanism
Sellers set auction rules and mechanics provided by the marketplace engine, not a blockchain
In addition to services that already work in blockchains, there are digital NFT platforms that are actively developing. Websites differ in their inventory and functionality. Some offer permissioned registration – only invited users can join. Some platforms operate in an auction format. Others sell collectibles at a fixed price. Whatever add-ons, here are the key features to take into account.
To process NFTs, a platform charges fees. Some NFT marketplaces collect fees after a transaction itself, while others may require it after the sale. Such flexibility of service charges is an innate part of revenue, that is you may get profit after a sale in the primary placement or from sales on the secondary market.
It stands for a marketplace speciality, whether this NFT is music-, sport-, art-, whatnot-associated. Some categories may be interrelated, for instance, artwork can also be categorized as collectibles.
These options may vary: fiat only, crypto-only or both. Most active services integrate with wallets that enable transactions with ether. To implement other cryptocurrencies, entirely new crypto wallets might be used.
It is a non-fungible token stored on the blockchain. It guarantees the originality of an item and gives exclusive rights to its holder. NFTs are immaterial. In fact, it is a cypher, a digital cryptographic commodity. Some compare it with virtual securities. An asset for NFT can be almost anything: a video, meme, photo, text, music album, even a tweet.
It can be called a digital certificate that records information about its creator, price and current owner. When NFT is sold, this transaction is immediately reflected on the blockchain and looks like this: the first block stands for the token release, the second includes the purchase and the name of a new owner.
In an open blockchain, all tokens are equal. However, a non-fungible token cannot be replaced with another one without a change of value. Moreover, after purchasing an NFT, a user acquires the so-called certificate, not the artwork itself, that in turn remains in perpetual storage (IPFS). This certificate, in essence, is code lines that confirm the ownership rights. An NFT can be compared to a painting that may belong to a gallery, museum or individual, but the public can still see it in a catalogue or exhibition.
There are several groups of people among whom non-fungibles are notably widespread.
They are sold on NFT marketplaces, like Binance or Rarible. Creators put them on trading platforms and wait for buyers. Besides, you can even create unique tokens yourself. For that, you register a digital object – a picture, song, photo – on the site and upload it, adding a description and price.
The most apparent advantage of this technology goes to art workers. Firstly, they digitize their works and confirm their rights to an image, video, track, etc. Furthermore, they can earn by selling their NFT. In addition, if after the sale a buyer resells the object, the author receives royalties.
There are beneficial applications for customers:
Blockchain technology is brilliant: the information inside cannot be deleted or reversed. What is more, thanks to smart contracts, transactions are transparent and secure. The world booms now realizing the potential of unique coins. In theory, in a while, NFT will be used to confirm documents – education certificates, sick notes, marriage registration certificates, and more.
Over the years we accumulated a wealth of Knowledge Bases