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Creating a Non-fungible Token

Selling Your Work or Creativity NFT

Purchasing NFT With a Cryptocurrency

The Monetization Model to Consider When Developing NFT Marketplaces

• Subscription monetization model: It is better to use the subscription business model if you want to get enough traffic. Under this model, subscription fees are usually charged to generate double revenue. It may include both monthly and annual costs charged using the platform for a specified period. 
• Commission monetization model: This is one of the most used templates across online marketplaces. Since the model can generate income, it is now the most popular option. With this model, owners of NFT Markets can charge sellers for successful transactions made through the platform. 
• Freemium list model: Under the well-known monetization model, market platform owners can offer both paid and free services. In short, owners can make money by charging sellers for premium services. 
• Product list monetization model: While the commission-based revenue model allows you to get paid once the sale is complete, this model ignores charging for less well-known items. It goes beyond the product listing model in this field because it makes you profit from every ad or product that is posted on the marketplace platform.

Hyperlink Infosystem’s NFT Marketplace Development Technology Stack

• Front-end frameworks: React.js, Angular.js, Vue.js, etc.
• Blockchain platform: Ethereum is the preferred option that provides additional security for NFT transactions. 
• NFT Standard: ERC-721, ERC-1155, and TRC-721 are the current NFT support standards.
• Storage Platforms: Filecoin Decentralized Storage Network.