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Your NFT marketplace should contain a wallet that allows customers to store

Send and receive NFTs and cryptocurrencies. You can create your own wallet or integrate existing wallets like Formatic, Coinbase, or MyEtherWallet into your platform.
7. Listing Status
Listing status is beneficial for people who provide products and pass the product authentication process. It permits checking the position of the confirmation process. It helps execute collectible verification.
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8. Ratings
It’s a feature for beginners who don’t know where to begin, select products quickly, and how the system functions. Checking someone’s rating helps users understand whether the particular seller is trustworthy. On an NFT marketplace, participants can rate others and give feedback depending on their experience. It allows others to check the credibility of a user.
Things to Consider When Building an NFT Marketplace
Following are the factors you should consider while creating an NFT marketplace app like OpenSea:

1. Transparency
Your NFT marketplace must have transparency to give users a clear view of all transactions. The Blockchain network makes sure an error-free payment procedure provides a seamless transacting experience.
All these stats and analytics prove that NFT marketplaces will be more in demand in the coming years. And introducing such a marketplace app makes sure a profitable Revenue Streaming Model in this competitive era.
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Top Features to Include in an NFT Marketplace App
NFT marketplace features
2. Security
It’s a powerful feature in an NFT marketplace about the transaction of tokens among traders. The in-built security safeguards traders from transaction loss and other unnecessary functions.
3. Decentralization
It allows you to copy and distribute all information to different Blockchain networks. At the time of a new block’s introduction, the network updates its Blockchain for making changes.
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4. The Monetization Model
It would help if you considered this element while creating an NFT marketplace. For instance, OpenSea does not charge a fee for listing. However, during sales, the platform deducts 2.5% from the product cost.
5. Smart Contracts
No commission fee is necessary for initializing smart contracts. You can do this by signing the contract online to prevent fraudulence and reduce intermediaries.
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How to Build an NFT Marketplace?
If you want to create an NFT art marketplace for your business, consider following these steps:
1. Choose Niche
Choosing a specific niche helps you start your NFT marketplace development project. If you have a general concept, discuss it with developers to make the strategy and estimate the timeframe needed for the marketplace creation. According to experts, you should target a vertical market instead of a horizontal one.

2. Define Your Project’s UI/UX Design
The UI/UX design is essential when building a marketplace. Your UI must be straightforward. Good UI/UX enhances usability and features a great feel and look of the platform.

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