In today’s world, one doesn’t need to explain the meaning of NFTs unless someone is living under a rock in the context of tech and finance world. Just for the sake of it, NFT stands for Non-Funglible-Token which can be minted and traded on an NFT Marketplace. Blockchain based digital assets, popularly known as NFTs are all the rage for the last couple of years, if not more.
What is an NFT Launchpad
NFT launchpad is a platform that assist budding NFT projects, brands, creators and influencers with raising funds for their projects, while provinding the investors with investment opportunities in the quality projects at an early stage.
An NFT launchpad also help the partner NFT projects with strategy, marketing and growth throughout their discovery journey with exposure to a global pool of investors which help the NFT projects to build a strong global community from an early stage of the project.
With the NFT Launchpad, the creators can raise funds to build NFT projects; right from idea to the execution, launch their NFT projects with guidance from experts on minting to selling, and market their NFT projects too, from getting their first 100 community members to be the biggest Discord servers. An NFT launchpad are very similar to IDO launchpads but accomodate exclusively to NFT builders.
Building an NFT Launchpad
The NFT sales started picking up in 2020 with a YoY growth of more than 400% with volumes hitting just over $250M. 2021 was even more insane for the digital assets market as NFT sales hit over astonishing $23B at some point according to data from a DappRadar market tracker report, in the most phenomenal year for the speculative non-fungible assets industry till date. Such high trade volumes and massive investor interest proved that NFTs can generate unparalleled revenues for creators and brands.
With unprecedented growth in trade volumes and hence, naturally the number of NFT projects launching everyday, it accompanied with unique challenges of humongous gas fees on the most popular blockchain for NFTs, Ethereum. Which is a setback for the blooming NFT creators such as undiscovered musicians, artists and cryptopreneurs. But, it’s never a dead end in the ever-innovating industry and there is always a ray of light at the end of the tunnel. In the case of NFT industry that ray of light is Polygon blockchain – the most popular scaling solution for Ethereum.
By attracting top-tier brands such as Nike, Adidas, Meta, Bentley, Burger King etc to offer their digital collectables services, Polygon is becoming the go-to chain for new NFT projects to launch and mint their NFTs.
Sounds interesting and want to buidl an NFT Launchpad?
At Cryption Studios, we are excited to provide various blockchain services to projects needing assistance to launch and navigate their ways to success in the web3 ecosystem.
If you are interested to launch and operate your own NFT launchpad or just want to explore the potential use of NFTs and probably an NFT launchpad as a business, get in touch with the Cryption team here or book a 30-minute meeting here.